SEC Comment Letter for NNN REIT, INC. (NNN) (CIK 0000751364) (NNN) — Jul 23, 2021
NNN REIT, INC. (NNN) (CIK 0000751364)
Date: July 23, 2021 · CIK: 0000751364 · Accession: 0000000000-21-009093
AI Filing Summary & Sentiment
File numbers found in text: 001-11290
Letter
United States securities and exchange commission logo July 23, 2021 Kevin B. Habicht Chief Financial Officer National Retail Properties, Inc. 450 South Orange Avenue, Suite 900 Orlando, FL 32801 Re:National Retail Properties, Inc. Form 10-K for the year ended December 31, 2020 Filed February 11, 2021 File No. 001-11290 Dear Mr. Habicht: We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the year ended December 31, 2020 Analysis of Expenses, page 30 1.We note that you have recorded impairment expenses for each of the three years presented. Please expand your disclosure to better describe the impaired properties, the factors that led to impairment and whether or not you believe these impairments to represent a trend, to the extent this remains a significant expense line item. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact William Demarest, Staff Accountant at 202-551-3432 or Kristi Marrone, Staff Accountant at 202-551-3429 if you have any questions.
FirstName LastNameKevin B. Habicht Comapany NameNational Retail Properties, Inc. July 23, 2021 Page 2 FirstName LastName Kevin B. Habicht National Retail Properties, Inc. July 23, 2021 Page 2 Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
July 23, 2021
Kevin B. Habicht
Chief Financial Officer
National Retail Properties, Inc.
450 South Orange Avenue, Suite 900
Orlando, FL 32801
Re:National Retail Properties, Inc.
Form 10-K for the year ended December 31, 2020
Filed February 11, 2021
File No. 001-11290
Dear Mr. Habicht:
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the year ended December 31, 2020
Analysis of Expenses, page 30
1.We note that you have recorded impairment expenses for each of the three years
presented. Please expand your disclosure to better describe the impaired properties, the
factors that led to impairment and whether or not you believe these impairments to
represent a trend, to the extent this remains a significant expense line item.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact William Demarest, Staff Accountant at 202-551-3432 or
Kristi Marrone, Staff Accountant at 202-551-3429 if you have any questions.
FirstName LastNameKevin B. Habicht
Comapany NameNational Retail Properties, Inc.
July 23, 2021 Page 2
FirstName LastName
Kevin B. Habicht
National Retail Properties, Inc.
July 23, 2021
Page 2
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction