real estate held for sale is not depreciated and is recorded at the lower of cost or fair value , less costs to sell . impairment – real estate . based upon certain events or changes in circumstances , management periodically assesses its properties for possible impairment whenever the carrying value of the asset , including accrued rental income , may not be recoverable through operations . events or circumstances that may occur include changes in real estate market conditions , the ability of nnn to re-lease properties that are currently vacant or become vacant , and the ability to sell properties at a price that exceeds nnn 's carrying value . management evaluates whether an impairment in carrying value has occurred by comparing the estimated future cash flows ( undiscounted and without interest charges ) , and the residual value of the real estate , with the carrying value of the individual asset . the future undiscounted cash flows are primarily driven by estimated future market rents . future cash flow estimates are sensitive to the assumptions made by management regarding future market rents , which are affected by expectations about future market and economic conditions . if an impairment is indicated , a loss will be recorded for the amount by which the carrying value of the asset exceeds its estimated fair value . nnn 's properties are leased primarily to retail tenants under long-term net leases and primarily held for investment . generally , nnn 's property leases provide for initial terms of 10 to 20 years , which provide for cash flows over this term . nnn intends to hold these assets for the long-term , therefore , a temporary change in cash flows due to covid-19 alone would not be an indicator of impairment . revenue recognition . rental revenues for properties under construction commence upon completion of construction of the leased asset and delivery of the leased asset to the tenant . rental revenues for non-development real estate assets are recognized when earned in accordance with the fasb guidance included in leases , based on the terms of the lease of the leased asset . lease termination fees are recognized when collected subsequent to the related lease that is cancelled and nnn no longer has continuing involvement with the former tenant with respect to that property . the core principle of asu 2014-09 , “ revenue from contracts with customers ( topic 606 ) `` , is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . certain contracts are 26 excluded from asu 2014-09 , including lease contracts within the scope of the fasb guidance included in leases ( topic 842 ) . nnn determined the key revenue stream impacted by asu 2014-09 is gain on disposition of real estate reported on the consolidated statements of income and comprehensive income . in accordance with asu 2014-09 , nnn evaluates any separate contracts or performance obligations to determine proper timing and or amount of revenue recognition , as well as , transaction price allocation . new accounting pronouncements . refer to note 1 of the december 31 , 2020 , consolidated financial statements for a summary and the anticipated impact of each accounting pronouncement on nnn 's financial position or results of operations . results of operations property analysis general . the following table summarizes the property portfolio as of december 31 : replace_table_token_4_th the following table summarizes the lease expirations , assuming none of the tenants exercise renewal options , of the property portfolio for each of the next 10 years and then thereafter in the aggregate as of december 31 , 2020 : replace_table_token_5_th ( 1 ) based on the annualized base rent for all leases in place as of december 31 , 2020 . ( 2 ) approximate square feet . 27 the following table summarizes the diversification of the property portfolio based on the top 20 lines of trade : replace_table_token_6_th ( 1 ) based on annualized base rent for all leases in place as of december 31 of the respective year . the following table summarizes the diversification of the property portfolio by state as of december 31 , 2020 : replace_table_token_7_th ( 1 ) based on annualized base rent for all leases in place as of december 31 , 2020 . 28 property acquisitions . the following table summarizes the property acquisitions for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_8_th ( 1 ) includes additional square footage from completed construction on existing properties . ( 2 ) includes dollars invested in projects under construction or tenant improvements for each respective year . nnn typically funds property acquisitions either through borrowings under the credit facility or by issuing its debt or equity securities in the capital markets . property dispositions . the following table summarizes the properties sold by nnn for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_9_th nnn typically uses the proceeds from a property disposition to either pay down the credit facility or reinvest in real estate . analysis of revenue general . nnn 's total revenues decreased for the year ended december 31 , 2020 , as compared to the same period ended in 2019. the decrease is primarily due to the write-off of receivables and lower rent collection from certain tenants due to the pandemic impact . nnn 's total revenues increased for the year ended december 31 , 2019 , as compared to the same period ended in 2018. the increase is primarily due to the increase in rental income from property acquisitions ( see `` results of operations - property analysis - property acquisitions `` ) . story_separator_special_tag interest expense increased for the year ended december 31 , 2020 , compared to the same period in 2019. the increase is attributable to an increase in outstanding debt , including the following activity related to nnn 's notes payable ( dollars in thousands ) : replace_table_token_12_th the increase in interest expense for the year ended december 31 , 2020 was partially offset by a decrease of $ 5,163,000 in the weighted average outstanding balance , and a 20 basis points decrease in the interest rate , on the credit facility for the year ended december 31 , 2020 , as compared to the same period in 2019. the credit facility had a weighted average outstanding balance of $ 18,895,000 and $ 24,058,000 at december 31 , 2020 and 2019 , respectively . in addition , interest expense for the year ended december 31 , 2020 , includes $ 2,291,000 in connection with the early redemption of the 2022 notes described below . loss on early extinguishment of debt . in march 2020 , nnn redeemed the $ 325,000,000 3.800 % notes payable that were due in october 2022. the notes were redeemed at a price equal to 100 % of the principal amount , plus ( i ) a make-whole amount of $ 16,679,000 , and ( ii ) all accrued and unpaid interest . comparison of expenses – 2019 versus 2018 refer to “ management 's discussion and analysis of financial condition and results of operations ” in part ii , item 7 of nnn 's annual report on form 10-k for the year ended december 31 , 2019 filed with the commission on february 11 , 2020 , for a detailed comparison of expenses for the years ended december 31 , 2019 versus december 31 , 2018 . 31 impact of inflation nnn 's leases typically contain provisions to mitigate the adverse impact of inflation on nnn 's results of operations . tenant leases generally provide for limited increases in rent as a result of fixed increases , increases in the cpi , and or , to a lesser extent , increases in the tenant 's sales volume . during times when inflation is greater than increases in rent , rent increases will not keep up with the rate of inflation . properties are leased to tenants under long-term , net leases which typically require the tenant to pay certain operating expenses for a property , thus , nnn 's exposure to inflation is reduced with respect to these expenses . inflation may have an adverse impact on nnn 's tenants . liquidity general . nnn 's demand for funds has been and will continue to be primarily for ( i ) payment of operating expenses and cash dividends ; ( ii ) property acquisitions and development ; ( iii ) capital expenditures ; ( iv ) payment of principal and interest on its outstanding debt ; and ( v ) other investments . while the total impact of the economic downturn are unknown , nnn expects to meet short-term liquidity requirements through cash and cash equivalents , cash provided from operations and nnn 's credit facility . as of december 31 , 2020 , nnn had $ 267,236,000 of cash and cash equivalents and $ 900,000,000 was available for future borrowings under the credit facility . nnn moderated new property investments during 2020 in order to better gauge the impact of the economic downturn on retailers , retail real estate , capital markets and investment returns . nnn will continue to monitor the impact of the economic downturn , among other things , when considering new property investments in 2021 . ( see `` overview - impact of covid-19 on nnn 's business `` ) . nnn anticipates its long-term capital needs will be funded by the credit facility , cash provided from operations , the issuance of long-term debt or the issuance of common or preferred equity or other instruments convertible into or exchangeable for common or preferred equity . however , there can be no assurance that additional financing or capital will be available , or that the terms will be acceptable or advantageous to nnn . cash and cash equivalents . nnn 's cash and cash equivalents includes the aggregate of cash and cash equivalents and restricted cash and cash held in escrow from the consolidated balance sheets . nnn did not have restricted cash , including cash held in escrow as of december 31 , 2020 , 2019 and 2018. the table below summarizes nnn 's cash flows for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_13_th cash provided by operating activities represents cash received primarily from rental revenues and interest income less cash used for general and administrative expenses . nnn 's cash flow from operating activities has been sufficient to pay the distributions for each period presented . the change in cash provided by operations for the years ended december 31 , 2020 , 2019 and 2018 , is primarily the result of changes in revenues and expenses as discussed in “ results of operations . ” cash generated from operations is expected to fluctuate in the future . changes in cash for investing activities are primarily attributable to acquisitions and dispositions of properties . nnn typically uses cash on hand or proceeds from its credit facility to fund the acquisition of its properties . 32 nnn 's financing activities for the year ended december 31 , 2020 , included the following significant transactions : ( i ) issuance and redemption of notes payable resulted in the following : $ 395,062,000 in net proceeds from the issuance in march of the 2.500 % notes payable due in april 2030 , $ 290,459,000 in net proceeds from the issuance in march of the 3.100 % notes payable due in april 2050 , $ 325,000,000 payment in march for the early redemption of the 3.800 %

debt nnn expects to use debt primarily for property acquisitions and development of single-tenant retail properties , either directly or through investment interests . additionally , debt may be used to refinance existing debt . the following is a summary of nnn 's total outstanding debt as of december 31 ( dollars in thousands ) : replace_table_token_17_th 36 line of credit payable . nnn 's $ 900,000,000 credit facility had a weighted average outstanding balance of $ 18,895,000 and a weighted average interest rate of 2.6 % during the year ended december 31 , 2020. the credit facility matures january 2022 , unless the company exercises its option to extend maturity to january 2023. the credit facility bears interest at libor plus 87.5 basis points ; however , such interest rate may change pursuant to a tiered interest rate structure based on nnn 's debt rating . the credit facility also includes an accordion feature for nnn to increase the facility size up to $ 1,600,000,000 , subject to lender approval . in may 2020 , nnn amended its credit facility to include the addition of new terms and definitions , and to restate certain other definitions under the former unsecured revolving credit agreement , some of which modified the financial covenant calculations . as of december 31 , 2020 , there was no outstanding balance and $ 900,000,000 was available for future borrowings under the credit facility . in accordance with the terms of the credit facility , nnn is required to meet certain restrictive financial covenants , which , among other things , require nnn to maintain certain ( i ) leverage ratios , ( ii ) debt service coverage , ( iii ) cash flow coverage , and ( iv ) investment limitations .


 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.
     ```debt nnn expects to use debt primarily for property acquisitions and development of single-tenant retail properties , either directly or through investment interests . additionally , debt may be used to refinance existing debt . the following is a summary of nnn 's total outstanding debt as of december 31 ( dollars in thousands ) : replace_table_token_17_th 36 line of credit payable . nnn 's $ 900,000,000 credit facility had a weighted average outstanding balance of $ 18,895,000 and a weighted average interest rate of 2.6 % during the year ended december 31 , 2020. the credit facility matures january 2022 , unless the company exercises its option to extend maturity to january 2023. the credit facility bears interest at libor plus 87.5 basis points ; however , such interest rate may change pursuant to a tiered interest rate structure based on nnn 's debt rating . the credit facility also includes an accordion feature for nnn to increase the facility size up to $ 1,600,000,000 , subject to lender approval . in may 2020 , nnn amended its credit facility to include the addition of new terms and definitions , and to restate certain other definitions under the former unsecured revolving credit agreement , some of which modified the financial covenant calculations . as of december 31 , 2020 , there was no outstanding balance and $ 900,000,000 was available for future borrowings under the credit facility . in accordance with the terms of the credit facility , nnn is required to meet certain restrictive financial covenants , which , among other things , require nnn to maintain certain ( i ) leverage ratios , ( ii ) debt service coverage , ( iii ) cash flow coverage , and ( iv ) investment limitations .
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 Suspicious Activity Report : real estate held for sale is not depreciated and is recorded at the lower of cost or fair value , less costs to sell . impairment – real estate . based upon certain events or changes in circumstances , management periodically assesses its properties for possible impairment whenever the carrying value of the asset , including accrued rental income , may not be recoverable through operations . events or circumstances that may occur include changes in real estate market conditions , the ability of nnn to re-lease properties that are currently vacant or become vacant , and the ability to sell properties at a price that exceeds nnn 's carrying value . management evaluates whether an impairment in carrying value has occurred by comparing the estimated future cash flows ( undiscounted and without interest charges ) , and the residual value of the real estate , with the carrying value of the individual asset . the future undiscounted cash flows are primarily driven by estimated future market rents . future cash flow estimates are sensitive to the assumptions made by management regarding future market rents , which are affected by expectations about future market and economic conditions . if an impairment is indicated , a loss will be recorded for the amount by which the carrying value of the asset exceeds its estimated fair value . nnn 's properties are leased primarily to retail tenants under long-term net leases and primarily held for investment . generally , nnn 's property leases provide for initial terms of 10 to 20 years , which provide for cash flows over this term . nnn intends to hold these assets for the long-term , therefore , a temporary change in cash flows due to covid-19 alone would not be an indicator of impairment . revenue recognition . rental revenues for properties under construction commence upon completion of construction of the leased asset and delivery of the leased asset to the tenant . rental revenues for non-development real estate assets are recognized when earned in accordance with the fasb guidance included in leases , based on the terms of the lease of the leased asset . lease termination fees are recognized when collected subsequent to the related lease that is cancelled and nnn no longer has continuing involvement with the former tenant with respect to that property . the core principle of asu 2014-09 , “ revenue from contracts with customers ( topic 606 ) `` , is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . certain contracts are 26 excluded from asu 2014-09 , including lease contracts within the scope of the fasb guidance included in leases ( topic 842 ) . nnn determined the key revenue stream impacted by asu 2014-09 is gain on disposition of real estate reported on the consolidated statements of income and comprehensive income . in accordance with asu 2014-09 , nnn evaluates any separate contracts or performance obligations to determine proper timing and or amount of revenue recognition , as well as , transaction price allocation . new accounting pronouncements . refer to note 1 of the december 31 , 2020 , consolidated financial statements for a summary and the anticipated impact of each accounting pronouncement on nnn 's financial position or results of operations . results of operations property analysis general . the following table summarizes the property portfolio as of december 31 : replace_table_token_4_th the following table summarizes the lease expirations , assuming none of the tenants exercise renewal options , of the property portfolio for each of the next 10 years and then thereafter in the aggregate as of december 31 , 2020 : replace_table_token_5_th ( 1 ) based on the annualized base rent for all leases in place as of december 31 , 2020 . ( 2 ) approximate square feet . 27 the following table summarizes the diversification of the property portfolio based on the top 20 lines of trade : replace_table_token_6_th ( 1 ) based on annualized base rent for all leases in place as of december 31 of the respective year . the following table summarizes the diversification of the property portfolio by state as of december 31 , 2020 : replace_table_token_7_th ( 1 ) based on annualized base rent for all leases in place as of december 31 , 2020 . 28 property acquisitions . the following table summarizes the property acquisitions for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_8_th ( 1 ) includes additional square footage from completed construction on existing properties . ( 2 ) includes dollars invested in projects under construction or tenant improvements for each respective year . nnn typically funds property acquisitions either through borrowings under the credit facility or by issuing its debt or equity securities in the capital markets . property dispositions . the following table summarizes the properties sold by nnn for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_9_th nnn typically uses the proceeds from a property disposition to either pay down the credit facility or reinvest in real estate . analysis of revenue general . nnn 's total revenues decreased for the year ended december 31 , 2020 , as compared to the same period ended in 2019. the decrease is primarily due to the write-off of receivables and lower rent collection from certain tenants due to the pandemic impact . nnn 's total revenues increased for the year ended december 31 , 2019 , as compared to the same period ended in 2018. the increase is primarily due to the increase in rental income from property acquisitions ( see `` results of operations - property analysis - property acquisitions `` ) . story_separator_special_tag interest expense increased for the year ended december 31 , 2020 , compared to the same period in 2019. the increase is attributable to an increase in outstanding debt , including the following activity related to nnn 's notes payable ( dollars in thousands ) : replace_table_token_12_th the increase in interest expense for the year ended december 31 , 2020 was partially offset by a decrease of $ 5,163,000 in the weighted average outstanding balance , and a 20 basis points decrease in the interest rate , on the credit facility for the year ended december 31 , 2020 , as compared to the same period in 2019. the credit facility had a weighted average outstanding balance of $ 18,895,000 and $ 24,058,000 at december 31 , 2020 and 2019 , respectively . in addition , interest expense for the year ended december 31 , 2020 , includes $ 2,291,000 in connection with the early redemption of the 2022 notes described below . loss on early extinguishment of debt . in march 2020 , nnn redeemed the $ 325,000,000 3.800 % notes payable that were due in october 2022. the notes were redeemed at a price equal to 100 % of the principal amount , plus ( i ) a make-whole amount of $ 16,679,000 , and ( ii ) all accrued and unpaid interest . comparison of expenses – 2019 versus 2018 refer to “ management 's discussion and analysis of financial condition and results of operations ” in part ii , item 7 of nnn 's annual report on form 10-k for the year ended december 31 , 2019 filed with the commission on february 11 , 2020 , for a detailed comparison of expenses for the years ended december 31 , 2019 versus december 31 , 2018 . 31 impact of inflation nnn 's leases typically contain provisions to mitigate the adverse impact of inflation on nnn 's results of operations . tenant leases generally provide for limited increases in rent as a result of fixed increases , increases in the cpi , and or , to a lesser extent , increases in the tenant 's sales volume . during times when inflation is greater than increases in rent , rent increases will not keep up with the rate of inflation . properties are leased to tenants under long-term , net leases which typically require the tenant to pay certain operating expenses for a property , thus , nnn 's exposure to inflation is reduced with respect to these expenses . inflation may have an adverse impact on nnn 's tenants . liquidity general . nnn 's demand for funds has been and will continue to be primarily for ( i ) payment of operating expenses and cash dividends ; ( ii ) property acquisitions and development ; ( iii ) capital expenditures ; ( iv ) payment of principal and interest on its outstanding debt ; and ( v ) other investments . while the total impact of the economic downturn are unknown , nnn expects to meet short-term liquidity requirements through cash and cash equivalents , cash provided from operations and nnn 's credit facility . as of december 31 , 2020 , nnn had $ 267,236,000 of cash and cash equivalents and $ 900,000,000 was available for future borrowings under the credit facility . nnn moderated new property investments during 2020 in order to better gauge the impact of the economic downturn on retailers , retail real estate , capital markets and investment returns . nnn will continue to monitor the impact of the economic downturn , among other things , when considering new property investments in 2021 . ( see `` overview - impact of covid-19 on nnn 's business `` ) . nnn anticipates its long-term capital needs will be funded by the credit facility , cash provided from operations , the issuance of long-term debt or the issuance of common or preferred equity or other instruments convertible into or exchangeable for common or preferred equity . however , there can be no assurance that additional financing or capital will be available , or that the terms will be acceptable or advantageous to nnn . cash and cash equivalents . nnn 's cash and cash equivalents includes the aggregate of cash and cash equivalents and restricted cash and cash held in escrow from the consolidated balance sheets . nnn did not have restricted cash , including cash held in escrow as of december 31 , 2020 , 2019 and 2018. the table below summarizes nnn 's cash flows for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_13_th cash provided by operating activities represents cash received primarily from rental revenues and interest income less cash used for general and administrative expenses . nnn 's cash flow from operating activities has been sufficient to pay the distributions for each period presented . the change in cash provided by operations for the years ended december 31 , 2020 , 2019 and 2018 , is primarily the result of changes in revenues and expenses as discussed in “ results of operations . ” cash generated from operations is expected to fluctuate in the future . changes in cash for investing activities are primarily attributable to acquisitions and dispositions of properties . nnn typically uses cash on hand or proceeds from its credit facility to fund the acquisition of its properties . 32 nnn 's financing activities for the year ended december 31 , 2020 , included the following significant transactions : ( i ) issuance and redemption of notes payable resulted in the following : $ 395,062,000 in net proceeds from the issuance in march of the 2.500 % notes payable due in april 2030 , $ 290,459,000 in net proceeds from the issuance in march of the 3.100 % notes payable due in april 2050 , $ 325,000,000 payment in march for the early redemption of the 3.800 %

