We are a self-administered and self-managed real estate investment trust, also known as a REIT. We were incorporated in Maryland on December 20, 1982. We acquire, own and manage a geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness and theater properties, many of which are subject to long-term leases. Most of our leases are "net leases" under which the tenant, directly or indirectly, is responsible for paying the real estate taxes, insurance and ordinary maintenance and repairs of the property. As of December 31, 2018, we own 119 properties and participate in joint ventures that own four properties. These 123 properties are located in 30 states and have an aggregate of approximately 10.4 million square feet (including an aggregate of approximately 373,000 square feet at properties owned by our joint ventures).
- our 2019 contractual rental income (as described in "-Our Tenants") is $69.4 million; - the occupancy rate of our properties is 99.2% based on square footage; - the weighted average remaining term of our mortgage debt is 8.7 years and the weighted average interest rate thereon is 4.26%; and - the weighted average remaining term of the leases generating our 2019 contractual rental income is 7.7 years.
- our rental income, net, increased by $2.1 million, or 3.1%, from 2017. - we acquired eight industrial properties for an aggregate purchase price of $79.5 million. The acquired properties account for $5.6 million, or 8.1%, of our 2019 contractual rental income. - we sold three properties for a net gain on sale of real estate of $5.3 million. The properties sold accounted for 3.0% and 4.7% of 2018 and 2017 rental income, net, respectively. - unconsolidated joint ventures in which we have 50% equity interest sold a (i) property and (ii) land parcel and the building thereon-our 50% share of the aggregate gains from these sales was $2.1 million, which is included in equity in earnings from sale of unconsolidated joint venture properties. - we obtained proceeds of $61.7 million from mortgage financings, including $14.7 million of refinanced amounts. - we raised net proceeds of approximately $3.1 million from the issuance of 126,300 shares of common stock pursuant to our at-the-market equity offering program.