the objective of asu 2017-01 is to clarify the definition of a business by adding guidance on how entities should evaluate whether transactions should be accounted for as acquisitions ( or disposals ) of assets or businesses . the definition of a business affects many areas of accounting including acquisitions , disposals , goodwill , and consolidation . asu 2017-01 will be effective for public business entities for fiscal years beginning after december 15 , 2017 , including interim periods in the year of adoption . early adoption is permitted for any interim or annual period . the company has early adopted and the guidance has no material impact on the company 's financial statements . in february 2016 , the fasb issued asu no . 2016-02 “ leases ” ( “ asu 2016-02 ” ) . the new standard creates topic 842 , leases , in fasb accounting standards codification ( fasb asc ) and supersedes fasb asc 840 , leases . asu 2016-02 requires a lessee to recognize the assets and liabilities that arise from leases ( operating and finance ) . however , for leases with a term of 12 months or less , a lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities . the main difference between the existing guidance on accounting for leases and the new standard is that operating leases will now be recorded in the statement of financial position as assets and liabilities . the new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases and operating leases . asu 2016-02 is expected to impact the company 's consolidated financial statements as the company has certain operating land lease arrangements for which it is the lessee . gaap requires only capital ( finance ) leases to be recognized in the statement of financial position , and amounts related to operating leases largely are reflected in the financial statements as rent expense on the income statement and in disclosures to the financial statements . asu 2016-02 is effective for annual reporting periods ( including interim periods within those periods ) beginning after december 15 , 2018. early adoption is permitted . the company has engaged a professional services firm to assist in the implementation of asu 2016-02. the company anticipates that its retail leases where it is the lessor will continue to be accounted for as operating leases under the new standard . therefore , the company does not currently anticipate significant changes in the accounting for its lease revenues . the company is also the lessee under various land lease arrangements and it will be required to recognize right of use assets and related lease liabilities on its consolidated balance sheets upon adoption . the company will continue to evaluate the impact of adopting the new leases standard on its consolidated statements of income and comprehensive income and consolidated balance sheets . 24 in may 2014 , with subsequent updates issued in august 2015 and march , april and may 2016 , the fasb issued asu no . 2014-09 “ revenue from contracts with customers ( topic 606 ) ” ( “ asu 2014-09 ” ) . asu 2014-09 was developed to enable financial statement users to better understand the nature , amount , timing and uncertainty of revenue and cash flows arising from contracts with customers . the update 's core principle 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 . companies are to use a five-step contract review model to ensure revenue is recognized , measured and disclosed in accordance with this principle . those steps include the following : ( i ) identify the contract with the customer , ( ii ) identify the performance obligations in the contract , ( iii ) determine the transaction price , ( iv ) allocate the transaction price to each performance obligation in the contract , and ( v ) recognize revenue when or as the entity satisfies a performance obligation . the company has identified four main revenue streams of which three of them originate from lease contracts and will be subject to leases asu 2016-02 , topic 842 effective for annual reporting periods ( including interim periods ) beginning after december 15 , 2018. the revenue streams are : revenue recognition ( asu 2014-09 , topic 610-20 ) : · gain ( loss ) on sale of real estate properties leases ( asu 2016-02 , topic 842 ) : · rental revenues · straight line rents · tenant recoveries as of january 1 , 2018 , the company will be accounting for the sale of real estate properties under subtopic 610-20 which provides for revenue recognition based on transfer of ownership . all properties were non-financial real estate assets and thus not businesses which were sold to non-customers with no performance obligations . during the year ended december 31 , 2017 , the company sold real estate properties for net proceeds of $ 44.3 million , and a recorded net gain of $ 14.2 million . management has concluded that all of the company 's material revenue streams falls outside of the scope of this guidance and currently recognizes revenue from its contracts with customers at a point in time and does not anticipate any changes . the company intends to implement the standard under the modified retrospective method and does not anticipate recording any cumulative effect recognized in retained earnings as of the date of adoption ( january 1 , 2018 ) . critical accounting policies our accounting policies are determined in accordance with gaap . story_separator_special_tag liquidity and capital resources our principal demands for funds include payment of operating expenses , payment of principal and interest on our outstanding indebtedness , distributions to our shareholders and future property acquisitions and development . we expect to meet our short-term liquidity requirements through cash provided from operations and borrowings under our revolving credit facility . as of december 31 , 2017 , available cash and cash equivalents was $ 50.8 million . as of december 31 , 2017 we had $ 14.0 million outstanding on our revolving credit facility and $ 236.0 million was available for future borrowings , subject to our compliance with covenants . we anticipate funding our long-term capital needs through cash provided from operations , borrowings under our revolving credit facility , the issuance of debt and common or preferred equity or other instruments convertible into or exchangeable for common or preferred equity . in august 2017 , the company entered into an uncommitted and unsecured $ 100 million private placement shelf agreement ( the “ aig shelf agreement ” ) with aig asset management ( u.s. ) , llc ( “ aig ” ) and each aig affiliate named therein . the aig shelf agreement allows us to issue senior unsecured notes to aig at terms to be agreed upon at the time of any issuance during a three year issuance period ending in august 2020. as of december 31 , 2017 , no notes had been issued under the aig shelf agreement . in august 2017 , the company entered into an uncommitted and unsecured $ 100 million private placement shelf agreement ( the “ tiaa shelf agreement ” ) with teachers insurance and annuity association of america ( “ tiaa ” ) and each tiaa affiliate named therein . the tiaa shelf agreement allows us to issue senior unsecured notes to tiaa at terms to be agreed upon at the time of any issuance during a three year issuance period ending in august 2020. as of december 31 , 2017 , no notes had been issued under the tiaa shelf agreement . we continually evaluate alternative financing and believe that we can obtain financing on reasonable terms . however , there can be no assurance that additional financing or capital will be available , or that the terms will be acceptable or advantageous to us . capitalization as of december 31 , 2017 , our total market capitalization was approximately $ 2.1 billion . market capitalization consisted of $ 1.6 billion of shares of an common stock ( based on the december 29 , 2017 closing price of our common stock on the nyse of $ 51.44 per share and assuming the conversion of op units ) and $ 522.4 million of total debt including ( i ) $ 14.0 million of borrowings under our revolving credit facility ; ( ii ) $ 159.3 million of unsecured term loans ; ( iii ) $ 260.0 million of senior unsecured notes ; and ( iv ) $ 89.1 million of mortgage notes payable . our ratio of total debt to total market capitalization was 24.5 % at december 31 , 2017 . 28 at december 31 , 2017 , the non-controlling interest in our operating partnership consisted of a 1.2 % ownership interest in the operating partnership held by third parties . the op units may , under certain circumstances , be exchanged for our shares of common stock on a one-for-one basis . we , as sole general partner of the operating partnership , have the option to settle exchanged op units held by others for cash based on the current trading price of our shares . assuming the exchange of all op units , there would have been 31,352,519 shares of common stock outstanding at december 31 , 2017. story_separator_special_tag 30 contractual obligations the following table summarizes our contractual obligations by due date as of december 31 , 2017 : replace_table_token_10_th estimated interest payments are based on ( i ) the stated rates for mortgage notes payable , including the effect of interest rate swaps and ( ii ) the stated rates for unsecured term loans , including the effect of interest rate swaps and assuming the interest rate in effect for the most recent quarter remains in effect through the respective maturity dates . dividends during the quarter ended december 31 , 2017 , we declared a quarterly dividend of $ 0.520 per share . the cash dividend was paid on january 3 , 2018 to holders of record on december 20 , 2017. inflation our leases typically contain provisions to mitigate the adverse impact of inflation on our results of operations . tenant leases generally provide for limited increases in rent as a result of fixed increases or increases in the consumer price index . certain of our leases contain clauses enabling us to receive percentage rents based on tenants ' gross sales , which generally increase as prices rise . during times when inflation is greater than increases in rent , rent increases will not keep up with the rate of inflation . substantially all of properties are leased to tenants under long-term , net leases which require the tenant to pay certain operating expenses for a property , thereby reducing our exposure to operating cost increases resulting from inflation . inflation may have an adverse impact on our tenants . funds from operations funds from operations ( “ ffo ” ) is defined by the national association of real estate investment trusts , inc. ( “ nareit ” ) to mean net income computed in accordance with gaap , excluding gains ( or losses ) from sales of property , plus real estate related depreciation and amortization and any impairment charges on a depreciable real estate asset , and after adjustments for unconsolidated partnerships and joint ventures . management uses ffo as a supplemental measure to conduct and evaluate the company 's business because there are

debt the below table summarizes the company 's outstanding debt for the periods ended december 31 , 2017 and december 31 , 2016 ( in thousands ) : replace_table_token_9_th ( 1 ) the annual interest rate of the credit facility assumes one month libor as of december 31 , 2017 of 1.57 % . ( 2 ) interest rate includes the effects of variable interest rates that have been swapped to fixed interest rates . senior unsecured revolving credit facility in december 2016 , the company amended and restated the credit agreement that governs our senior unsecured revolving credit facility and unsecured term loan facility to increase the aggregate borrowing capacity to $ 350.0 million . the agreement provides for a $ 250.0 million unsecured revolving credit facility , a $ 65.0 million unsecured term loan facility and a $ 35.0 million unsecured term loan facility . the unsecured revolving credit facility matures in january 2021 with options to extend the maturity date to january 2022. the unsecured term loan facilities mature in january 2024. we have the ability to increase the aggregate borrowing capacity under the credit agreement up to $ 500.0 million , subject to lender approval . borrowings under the revolving credit facility bear interest at libor plus 130 to 195 basis points , depending on our leverage ratio . additionally , we are required to pay an unused commitment fee at an annual rate of 15 or 25 basis points on the unused portion of the revolving credit facility , depending on the amount of borrowings outstanding . the credit agreement contains certain financial covenants , including a maximum leverage ratio , a minimum fixed charge coverage ratio and a maximum percentage of secured debt to total asset value . unsecured term loan facilities in july 2016 , the company entered into a $ 40.0 million unsecured term loan facility that matures in july 2023 ( the “ 2023 term loan ” ) . borrowings under the 2023 term loan are priced at libor plus 165 to 225 basis points , depending on the company 's leverage . the company entered into an interest rate swap to fix libor at 1.40 % until maturity .


 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 the below table summarizes the company 's outstanding debt for the periods ended december 31 , 2017 and december 31 , 2016 ( in thousands ) : replace_table_token_9_th ( 1 ) the annual interest rate of the credit facility assumes one month libor as of december 31 , 2017 of 1.57 % . ( 2 ) interest rate includes the effects of variable interest rates that have been swapped to fixed interest rates . senior unsecured revolving credit facility in december 2016 , the company amended and restated the credit agreement that governs our senior unsecured revolving credit facility and unsecured term loan facility to increase the aggregate borrowing capacity to $ 350.0 million . the agreement provides for a $ 250.0 million unsecured revolving credit facility , a $ 65.0 million unsecured term loan facility and a $ 35.0 million unsecured term loan facility . the unsecured revolving credit facility matures in january 2021 with options to extend the maturity date to january 2022. the unsecured term loan facilities mature in january 2024. we have the ability to increase the aggregate borrowing capacity under the credit agreement up to $ 500.0 million , subject to lender approval . borrowings under the revolving credit facility bear interest at libor plus 130 to 195 basis points , depending on our leverage ratio . additionally , we are required to pay an unused commitment fee at an annual rate of 15 or 25 basis points on the unused portion of the revolving credit facility , depending on the amount of borrowings outstanding . the credit agreement contains certain financial covenants , including a maximum leverage ratio , a minimum fixed charge coverage ratio and a maximum percentage of secured debt to total asset value . unsecured term loan facilities in july 2016 , the company entered into a $ 40.0 million unsecured term loan facility that matures in july 2023 ( the “ 2023 term loan ” ) . borrowings under the 2023 term loan are priced at libor plus 165 to 225 basis points , depending on the company 's leverage . the company entered into an interest rate swap to fix libor at 1.40 % until maturity .
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 Suspicious Activity Report : the objective of asu 2017-01 is to clarify the definition of a business by adding guidance on how entities should evaluate whether transactions should be accounted for as acquisitions ( or disposals ) of assets or businesses . the definition of a business affects many areas of accounting including acquisitions , disposals , goodwill , and consolidation . asu 2017-01 will be effective for public business entities for fiscal years beginning after december 15 , 2017 , including interim periods in the year of adoption . early adoption is permitted for any interim or annual period . the company has early adopted and the guidance has no material impact on the company 's financial statements . in february 2016 , the fasb issued asu no . 2016-02 “ leases ” ( “ asu 2016-02 ” ) . the new standard creates topic 842 , leases , in fasb accounting standards codification ( fasb asc ) and supersedes fasb asc 840 , leases . asu 2016-02 requires a lessee to recognize the assets and liabilities that arise from leases ( operating and finance ) . however , for leases with a term of 12 months or less , a lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities . the main difference between the existing guidance on accounting for leases and the new standard is that operating leases will now be recorded in the statement of financial position as assets and liabilities . the new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases and operating leases . asu 2016-02 is expected to impact the company 's consolidated financial statements as the company has certain operating land lease arrangements for which it is the lessee . gaap requires only capital ( finance ) leases to be recognized in the statement of financial position , and amounts related to operating leases largely are reflected in the financial statements as rent expense on the income statement and in disclosures to the financial statements . asu 2016-02 is effective for annual reporting periods ( including interim periods within those periods ) beginning after december 15 , 2018. early adoption is permitted . the company has engaged a professional services firm to assist in the implementation of asu 2016-02. the company anticipates that its retail leases where it is the lessor will continue to be accounted for as operating leases under the new standard . therefore , the company does not currently anticipate significant changes in the accounting for its lease revenues . the company is also the lessee under various land lease arrangements and it will be required to recognize right of use assets and related lease liabilities on its consolidated balance sheets upon adoption . the company will continue to evaluate the impact of adopting the new leases standard on its consolidated statements of income and comprehensive income and consolidated balance sheets . 24 in may 2014 , with subsequent updates issued in august 2015 and march , april and may 2016 , the fasb issued asu no . 2014-09 “ revenue from contracts with customers ( topic 606 ) ” ( “ asu 2014-09 ” ) . asu 2014-09 was developed to enable financial statement users to better understand the nature , amount , timing and uncertainty of revenue and cash flows arising from contracts with customers . the update 's core principle 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 . companies are to use a five-step contract review model to ensure revenue is recognized , measured and disclosed in accordance with this principle . those steps include the following : ( i ) identify the contract with the customer , ( ii ) identify the performance obligations in the contract , ( iii ) determine the transaction price , ( iv ) allocate the transaction price to each performance obligation in the contract , and ( v ) recognize revenue when or as the entity satisfies a performance obligation . the company has identified four main revenue streams of which three of them originate from lease contracts and will be subject to leases asu 2016-02 , topic 842 effective for annual reporting periods ( including interim periods ) beginning after december 15 , 2018. the revenue streams are : revenue recognition ( asu 2014-09 , topic 610-20 ) : · gain ( loss ) on sale of real estate properties leases ( asu 2016-02 , topic 842 ) : · rental revenues · straight line rents · tenant recoveries as of january 1 , 2018 , the company will be accounting for the sale of real estate properties under subtopic 610-20 which provides for revenue recognition based on transfer of ownership . all properties were non-financial real estate assets and thus not businesses which were sold to non-customers with no performance obligations . during the year ended december 31 , 2017 , the company sold real estate properties for net proceeds of $ 44.3 million , and a recorded net gain of $ 14.2 million . management has concluded that all of the company 's material revenue streams falls outside of the scope of this guidance and currently recognizes revenue from its contracts with customers at a point in time and does not anticipate any changes . the company intends to implement the standard under the modified retrospective method and does not anticipate recording any cumulative effect recognized in retained earnings as of the date of adoption ( january 1 , 2018 ) . critical accounting policies our accounting policies are determined in accordance with gaap . story_separator_special_tag liquidity and capital resources our principal demands for funds include payment of operating expenses , payment of principal and interest on our outstanding indebtedness , distributions to our shareholders and future property acquisitions and development . we expect to meet our short-term liquidity requirements through cash provided from operations and borrowings under our revolving credit facility . as of december 31 , 2017 , available cash and cash equivalents was $ 50.8 million . as of december 31 , 2017 we had $ 14.0 million outstanding on our revolving credit facility and $ 236.0 million was available for future borrowings , subject to our compliance with covenants . we anticipate funding our long-term capital needs through cash provided from operations , borrowings under our revolving credit facility , the issuance of debt and common or preferred equity or other instruments convertible into or exchangeable for common or preferred equity . in august 2017 , the company entered into an uncommitted and unsecured $ 100 million private placement shelf agreement ( the “ aig shelf agreement ” ) with aig asset management ( u.s. ) , llc ( “ aig ” ) and each aig affiliate named therein . the aig shelf agreement allows us to issue senior unsecured notes to aig at terms to be agreed upon at the time of any issuance during a three year issuance period ending in august 2020. as of december 31 , 2017 , no notes had been issued under the aig shelf agreement . in august 2017 , the company entered into an uncommitted and unsecured $ 100 million private placement shelf agreement ( the “ tiaa shelf agreement ” ) with teachers insurance and annuity association of america ( “ tiaa ” ) and each tiaa affiliate named therein . the tiaa shelf agreement allows us to issue senior unsecured notes to tiaa at terms to be agreed upon at the time of any issuance during a three year issuance period ending in august 2020. as of december 31 , 2017 , no notes had been issued under the tiaa shelf agreement . we continually evaluate alternative financing and believe that we can obtain financing on reasonable terms . however , there can be no assurance that additional financing or capital will be available , or that the terms will be acceptable or advantageous to us . capitalization as of december 31 , 2017 , our total market capitalization was approximately $ 2.1 billion . market capitalization consisted of $ 1.6 billion of shares of an common stock ( based on the december 29 , 2017 closing price of our common stock on the nyse of $ 51.44 per share and assuming the conversion of op units ) and $ 522.4 million of total debt including ( i ) $ 14.0 million of borrowings under our revolving credit facility ; ( ii ) $ 159.3 million of unsecured term loans ; ( iii ) $ 260.0 million of senior unsecured notes ; and ( iv ) $ 89.1 million of mortgage notes payable . our ratio of total debt to total market capitalization was 24.5 % at december 31 , 2017 . 28 at december 31 , 2017 , the non-controlling interest in our operating partnership consisted of a 1.2 % ownership interest in the operating partnership held by third parties . the op units may , under certain circumstances , be exchanged for our shares of common stock on a one-for-one basis . we , as sole general partner of the operating partnership , have the option to settle exchanged op units held by others for cash based on the current trading price of our shares . assuming the exchange of all op units , there would have been 31,352,519 shares of common stock outstanding at december 31 , 2017. story_separator_special_tag 30 contractual obligations the following table summarizes our contractual obligations by due date as of december 31 , 2017 : replace_table_token_10_th estimated interest payments are based on ( i ) the stated rates for mortgage notes payable , including the effect of interest rate swaps and ( ii ) the stated rates for unsecured term loans , including the effect of interest rate swaps and assuming the interest rate in effect for the most recent quarter remains in effect through the respective maturity dates . dividends during the quarter ended december 31 , 2017 , we declared a quarterly dividend of $ 0.520 per share . the cash dividend was paid on january 3 , 2018 to holders of record on december 20 , 2017. inflation our leases typically contain provisions to mitigate the adverse impact of inflation on our results of operations . tenant leases generally provide for limited increases in rent as a result of fixed increases or increases in the consumer price index . certain of our leases contain clauses enabling us to receive percentage rents based on tenants ' gross sales , which generally increase as prices rise . during times when inflation is greater than increases in rent , rent increases will not keep up with the rate of inflation . substantially all of properties are leased to tenants under long-term , net leases which require the tenant to pay certain operating expenses for a property , thereby reducing our exposure to operating cost increases resulting from inflation . inflation may have an adverse impact on our tenants . funds from operations funds from operations ( “ ffo ” ) is defined by the national association of real estate investment trusts , inc. ( “ nareit ” ) to mean net income computed in accordance with gaap , excluding gains ( or losses ) from sales of property , plus real estate related depreciation and amortization and any impairment charges on a depreciable real estate asset , and after adjustments for unconsolidated partnerships and joint ventures . management uses ffo as a supplemental measure to conduct and evaluate the company 's business because there are

