our operating results and cash flows are primarily influenced by rental income from our commercial properties and interest expense on our property indebtedness and acquisition and operating expen ses . rental and other property income accounted for 90 % , 91 % , 90 % of our total revenue for the years ended december 31 , 2018 , 2017 , and 2016 , respectively . as 99.6 % of our rentable square feet was under lease as of december 31 , 2018 , with a weighted average remaining lease term of 10.9 years , we believe our exposure to changes in commercial rental rates on our portfolio is substantially mitig ated , except for vacancies caused by tenant bankruptcies or other factors . cim income nav management regularly monitors the creditworthiness of our tenants by reviewing each tenant 's financial results , any available credit rating agency reports on the tenant or guaran tor , the operating history of the property with such tenant , the tenant 's market share and track record within its industry segment , the general health and outlook of the tenant 's industry segment , and other information for changes and possible trends . if our advisor identifies significant changes or trends that may adversely affect the creditworthiness of a tenant , it will gather a more in-depth knowledge of the tenant 's financial condition and , if necessary , attempt to mitigate the tenant credit risk by evaluating the possible sale of the property , or identifying a possible replacement tenant should the current tenant fail to perform on the lease . 59 critical accounting policies and significant accounting estimates our accounting policies have been established to conform with gaap . the preparation of financial statements in conformity with gaap requires us to use judgment in the application of accounting policies , including making estimates and assumptions . these judgments affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods . management believes that we have made these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition . we continually test and evaluate these estimates and assumptions using our historical knowledge of the business , as well as other factors , to ensure that they are reasonable for reporting purposes . however , actual results may differ from these estimates and assumptions . if our judgment or interpretation of the facts and circumstances relating to the various transactions had been different , it is possible that different accounting policies would have been applied , thus resulting in a different presentation of the financial statements . additionally , other companies may utilize different estimates that may impact comparability of our results of operations to those of companies in similar businesses . we believe the following critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements , which should be read in conjunction with the more complete discussion of our accounting policies and procedures included in note 2 — summary of significant accounting policies to our consolidated financial statements in this annual report on form 10-k. recoverability of real estate assets we acquire real estate assets and subsequently monitor those assets quarterly for impairment , including the review of real estate properties subject to direct financing leases , if applicable . additionally , we record depreciation and amortization related to our assets . the risks and uncertainties involved in applying the principles related to real estate assets include , but are not limited to , the following : the estimated useful lives of our depreciable assets affects the amount of depreciation and amortization recognized on our assets ; the review of impairment indicators and subsequent determination of the undiscounted future cash flows could require us to reduce the value of assets and recognize an impairment loss ; the fair value of held for sale assets is estimated by management . this estimated value could result in a reduction of the carrying value of the asset ; and changes in assumptions based on actual results may have a material impact on our financial results . allocation of purchase price of real estate assets in connection with our acquisition of properties , we allocate the purchase price to the tangible and intangible assets and liabilities acquired based on their respective estimated fair values . tangible assets consist of land , buildings , and tenant improvements . intangible assets consist of above- and below-market lease values and the value of in-place leases . our purchase price allocations are developed utilizing third-party appraisal reports , industry standards and management experience . the risks and uncertainties involved in applying the principles related to purchase price allocations include , but are not limited to , the following : the value allocated to land , as opposed to buildings and tenant improvements , affects the amount of depreciation expense we record . if more value is attributed to land , depreciation expense is lower than if more value is attributed to buildings and tenant improvements ; intangible lease assets and liabilities can be significantly affected by estimates including market rent , lease term including renewal options at rental rates below estimated market rental rates , carrying costs of the property during a hypothetical expected lease-up period , and current market conditions and costs , including tenant improvement allowances and rent concessions ; and we determine whether any financing assumed is above- or below-market based upon comparison to similar financing terms for similar types of debt financing with similar maturities . story_separator_special_tag see note 13 —stockholders ' equity summary of significant accounting policies to our consolidated financial statements included in this annual report on form 10-k for additional terms of the share redemption program , including the share redemption plan limits . we intend to fund share redemptions with available cash , proceeds from our liquid investments and proceeds from the sale of additional shares . we may , after taking the interests of our company as a whole and the interests of our remaining stockholders into consideration , use proceeds from any available sources at our disposal to satisfy redemption requests , including , but not limited to , proceeds from sales of additional shares , excess cash flow from operations , sales of our liquid investments , incurrence of indebtedness and , if necessary , proceeds from the disposition of real estate properties or real estate related assets . in an effort to have adequate cash available to support our share redemption plan , cim income nav management may determine to reserve borrowing capacity under our line of credit . cim income nav management could then elect to borrow against our line of credit in part to redeem shares presented for redemption during periods when we do not have sufficient proceeds from the sale of shares in the offering to fund all redemption requests . see the discussion of our share redemption program in part ii , item 5. market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities — share redemption program in this annual report on form 10-k. 69 liquidity and capital resources general we expect to continue to raise capital through the offering and to utilize such funds and future proceeds from secured or unsecured financing to complete future property acquisitions and for general corporate uses . the source of our operating cash flows is primarily the rental income received from current and future leased properties . as of december 31 , 2018 , we had raised $ 732.0 million of gross proceeds from the offering before organization and offering costs , upfront selling commissions , dealer manager fees and the current portion of stockholder servicing fees of $ 23.9 million . refer to item 1a - risk factors for risks related to our ability to raise capital in the near term . our credit facility with jpmorgan chase bank , n.a . as administrative agent ( “ jpmorgan chase ” ) , provides for borrowings up to $ 425.0 million , which is comprised of $ 212.5 million in unsecured revolving loans ( the “ revolving loans ” ) and $ 212.5 million in unsecured term loans ( the “ term loans ” ) , collectively , the credit facility ( the “ credit facility ” ) . as of december 31 , 2018 , we had $ 206.5 million in unused capacity , subject to borrowing availability . as of december 31 , 2018 , we had cash and cash equivalents of $ 3.6 million and investments in marketable securities of $ 5.5 million . our investment guidelines provide that we will target the following aggregate allocation to relatively liquid investments , such as u.s. government securities , agency securities , corporate debt , publicly traded debt and equity real estate-related securities , cash , cash equivalents and other short-term investments and , in cim income nav management 's discretion , lines of credit ( collectively , the “ liquid assets ” ) : ( 1 ) 10 % of our nav up to $ 1.0 billion and ( 2 ) 5 % of our nav in excess of $ 1.0 billion . to the extent that cim income nav management determines that we should maintain borrowing capacity under lines of credit , the amount available under the lines of credit will be included in calculating the liquid assets under these guidelines . these are guidelines , and our stockholders should not expect that we will , at all times , hold liquid assets at or above the target levels or that all liquid assets will be available to satisfy redemption requests as we receive them . we anticipate that both our overall allocation to liquid assets as a percentage of our nav and our allocation to different types of liquid assets will vary . in making these determinations our advisor will consider our receipt of proceeds from sales of additional shares , our cash flow from operations , available borrowing capacity under lines of credit , if any , or from additional mortgages on our real estate , our receipt of proceeds from sales of assets , and the anticipated use of cash to fund redemptions , as well as the availability and pricing of different investments . the amount of the liquid assets is determined by our advisor , in its sole discretion , but is subject to review by our independent directors on a quarterly basis . short-term liquidity and capital resources on a short-term basis , our principal demands for funds will be for acquisitions , operating expenses , distributions and redemptions to stockholders and interest on our outstanding debt . we expect to meet our short-term liquidity requirements through available cash , cash provided by property operations , proceeds from the offering and borrowings from the line of credit or other sources . we believe that the resources stated above will be sufficient to satisfy our operating requirements for the foreseeable future , and we do not anticipate a need to raise funds from sources other than those described above within the next 12 months . long-term liquidity and capital resources on a long-term basis , our principal demands for funds are for property and other asset acquisitions and the payment of tenant improvements , operating expenses , including debt service payments on any outstanding indebtedness , and distributions and redemptions to our stockholders . we expect to meet our long-term liquidity requirements through

total debt increased by $ 78.7 million , from $ 278.2 million to $ 356.9 million . portfolio information real estate portfolio as of december 31 , 2018 , we owned 152 commercial properties located in 35 states , comprising 5.7 million rentable square feet , which includes the rentable square feet of buildings on land subject to ground leases . as of december 31 , 2018 , these properties were 99.6 % leased ( including any month-to-month agreements ) with a weighted average remaining lease term of 10.9 years . the following table shows the property statistics of our real estate assets as of december 31 , 2018 , 2017 and 2016 : replace_table_token_6_th ( 1 ) includes square feet of buildings on land that are subject to ground leases . ( 2 ) investment-grade tenants are those with a credit rating of bbb- or higher by standard & poor 's or a credit rating of baa3 or higher by moody 's . the ratings may reflect those assigned by standard & poor 's or moody 's to the lease guarantor or the parent company , as applicable . the weighted average credit rating is weighted based on annualized rental income , and is for only those tenants rated by standard & poor 's . the following table summarizes our real estate acquisition activity during the years ended december 31 , 2018 , 2017 and 2016 : replace_table_token_7_th ( 1 ) includes square feet of buildings on land that are subject to ground leases .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```total debt increased by $ 78.7 million , from $ 278.2 million to $ 356.9 million . portfolio information real estate portfolio as of december 31 , 2018 , we owned 152 commercial properties located in 35 states , comprising 5.7 million rentable square feet , which includes the rentable square feet of buildings on land subject to ground leases . as of december 31 , 2018 , these properties were 99.6 % leased ( including any month-to-month agreements ) with a weighted average remaining lease term of 10.9 years . the following table shows the property statistics of our real estate assets as of december 31 , 2018 , 2017 and 2016 : replace_table_token_6_th ( 1 ) includes square feet of buildings on land that are subject to ground leases . ( 2 ) investment-grade tenants are those with a credit rating of bbb- or higher by standard & poor 's or a credit rating of baa3 or higher by moody 's . the ratings may reflect those assigned by standard & poor 's or moody 's to the lease guarantor or the parent company , as applicable . the weighted average credit rating is weighted based on annualized rental income , and is for only those tenants rated by standard & poor 's . the following table summarizes our real estate acquisition activity during the years ended december 31 , 2018 , 2017 and 2016 : replace_table_token_7_th ( 1 ) includes square feet of buildings on land that are subject to ground leases .
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 Suspicious Activity Report : our operating results and cash flows are primarily influenced by rental income from our commercial properties and interest expense on our property indebtedness and acquisition and operating expen ses . rental and other property income accounted for 90 % , 91 % , 90 % of our total revenue for the years ended december 31 , 2018 , 2017 , and 2016 , respectively . as 99.6 % of our rentable square feet was under lease as of december 31 , 2018 , with a weighted average remaining lease term of 10.9 years , we believe our exposure to changes in commercial rental rates on our portfolio is substantially mitig ated , except for vacancies caused by tenant bankruptcies or other factors . cim income nav management regularly monitors the creditworthiness of our tenants by reviewing each tenant 's financial results , any available credit rating agency reports on the tenant or guaran tor , the operating history of the property with such tenant , the tenant 's market share and track record within its industry segment , the general health and outlook of the tenant 's industry segment , and other information for changes and possible trends . if our advisor identifies significant changes or trends that may adversely affect the creditworthiness of a tenant , it will gather a more in-depth knowledge of the tenant 's financial condition and , if necessary , attempt to mitigate the tenant credit risk by evaluating the possible sale of the property , or identifying a possible replacement tenant should the current tenant fail to perform on the lease . 59 critical accounting policies and significant accounting estimates our accounting policies have been established to conform with gaap . the preparation of financial statements in conformity with gaap requires us to use judgment in the application of accounting policies , including making estimates and assumptions . these judgments affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods . management believes that we have made these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition . we continually test and evaluate these estimates and assumptions using our historical knowledge of the business , as well as other factors , to ensure that they are reasonable for reporting purposes . however , actual results may differ from these estimates and assumptions . if our judgment or interpretation of the facts and circumstances relating to the various transactions had been different , it is possible that different accounting policies would have been applied , thus resulting in a different presentation of the financial statements . additionally , other companies may utilize different estimates that may impact comparability of our results of operations to those of companies in similar businesses . we believe the following critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements , which should be read in conjunction with the more complete discussion of our accounting policies and procedures included in note 2 — summary of significant accounting policies to our consolidated financial statements in this annual report on form 10-k. recoverability of real estate assets we acquire real estate assets and subsequently monitor those assets quarterly for impairment , including the review of real estate properties subject to direct financing leases , if applicable . additionally , we record depreciation and amortization related to our assets . the risks and uncertainties involved in applying the principles related to real estate assets include , but are not limited to , the following : the estimated useful lives of our depreciable assets affects the amount of depreciation and amortization recognized on our assets ; the review of impairment indicators and subsequent determination of the undiscounted future cash flows could require us to reduce the value of assets and recognize an impairment loss ; the fair value of held for sale assets is estimated by management . this estimated value could result in a reduction of the carrying value of the asset ; and changes in assumptions based on actual results may have a material impact on our financial results . allocation of purchase price of real estate assets in connection with our acquisition of properties , we allocate the purchase price to the tangible and intangible assets and liabilities acquired based on their respective estimated fair values . tangible assets consist of land , buildings , and tenant improvements . intangible assets consist of above- and below-market lease values and the value of in-place leases . our purchase price allocations are developed utilizing third-party appraisal reports , industry standards and management experience . the risks and uncertainties involved in applying the principles related to purchase price allocations include , but are not limited to , the following : the value allocated to land , as opposed to buildings and tenant improvements , affects the amount of depreciation expense we record . if more value is attributed to land , depreciation expense is lower than if more value is attributed to buildings and tenant improvements ; intangible lease assets and liabilities can be significantly affected by estimates including market rent , lease term including renewal options at rental rates below estimated market rental rates , carrying costs of the property during a hypothetical expected lease-up period , and current market conditions and costs , including tenant improvement allowances and rent concessions ; and we determine whether any financing assumed is above- or below-market based upon comparison to similar financing terms for similar types of debt financing with similar maturities . story_separator_special_tag see note 13 —stockholders ' equity summary of significant accounting policies to our consolidated financial statements included in this annual report on form 10-k for additional terms of the share redemption program , including the share redemption plan limits . we intend to fund share redemptions with available cash , proceeds from our liquid investments and proceeds from the sale of additional shares . we may , after taking the interests of our company as a whole and the interests of our remaining stockholders into consideration , use proceeds from any available sources at our disposal to satisfy redemption requests , including , but not limited to , proceeds from sales of additional shares , excess cash flow from operations , sales of our liquid investments , incurrence of indebtedness and , if necessary , proceeds from the disposition of real estate properties or real estate related assets . in an effort to have adequate cash available to support our share redemption plan , cim income nav management may determine to reserve borrowing capacity under our line of credit . cim income nav management could then elect to borrow against our line of credit in part to redeem shares presented for redemption during periods when we do not have sufficient proceeds from the sale of shares in the offering to fund all redemption requests . see the discussion of our share redemption program in part ii , item 5. market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities — share redemption program in this annual report on form 10-k. 69 liquidity and capital resources general we expect to continue to raise capital through the offering and to utilize such funds and future proceeds from secured or unsecured financing to complete future property acquisitions and for general corporate uses . the source of our operating cash flows is primarily the rental income received from current and future leased properties . as of december 31 , 2018 , we had raised $ 732.0 million of gross proceeds from the offering before organization and offering costs , upfront selling commissions , dealer manager fees and the current portion of stockholder servicing fees of $ 23.9 million . refer to item 1a - risk factors for risks related to our ability to raise capital in the near term . our credit facility with jpmorgan chase bank , n.a . as administrative agent ( “ jpmorgan chase ” ) , provides for borrowings up to $ 425.0 million , which is comprised of $ 212.5 million in unsecured revolving loans ( the “ revolving loans ” ) and $ 212.5 million in unsecured term loans ( the “ term loans ” ) , collectively , the credit facility ( the “ credit facility ” ) . as of december 31 , 2018 , we had $ 206.5 million in unused capacity , subject to borrowing availability . as of december 31 , 2018 , we had cash and cash equivalents of $ 3.6 million and investments in marketable securities of $ 5.5 million . our investment guidelines provide that we will target the following aggregate allocation to relatively liquid investments , such as u.s. government securities , agency securities , corporate debt , publicly traded debt and equity real estate-related securities , cash , cash equivalents and other short-term investments and , in cim income nav management 's discretion , lines of credit ( collectively , the “ liquid assets ” ) : ( 1 ) 10 % of our nav up to $ 1.0 billion and ( 2 ) 5 % of our nav in excess of $ 1.0 billion . to the extent that cim income nav management determines that we should maintain borrowing capacity under lines of credit , the amount available under the lines of credit will be included in calculating the liquid assets under these guidelines . these are guidelines , and our stockholders should not expect that we will , at all times , hold liquid assets at or above the target levels or that all liquid assets will be available to satisfy redemption requests as we receive them . we anticipate that both our overall allocation to liquid assets as a percentage of our nav and our allocation to different types of liquid assets will vary . in making these determinations our advisor will consider our receipt of proceeds from sales of additional shares , our cash flow from operations , available borrowing capacity under lines of credit , if any , or from additional mortgages on our real estate , our receipt of proceeds from sales of assets , and the anticipated use of cash to fund redemptions , as well as the availability and pricing of different investments . the amount of the liquid assets is determined by our advisor , in its sole discretion , but is subject to review by our independent directors on a quarterly basis . short-term liquidity and capital resources on a short-term basis , our principal demands for funds will be for acquisitions , operating expenses , distributions and redemptions to stockholders and interest on our outstanding debt . we expect to meet our short-term liquidity requirements through available cash , cash provided by property operations , proceeds from the offering and borrowings from the line of credit or other sources . we believe that the resources stated above will be sufficient to satisfy our operating requirements for the foreseeable future , and we do not anticipate a need to raise funds from sources other than those described above within the next 12 months . long-term liquidity and capital resources on a long-term basis , our principal demands for funds are for property and other asset acquisitions and the payment of tenant improvements , operating expenses , including debt service payments on any outstanding indebtedness , and distributions and redemptions to our stockholders . we expect to meet our long-term liquidity requirements through

