Spirit MTA REIT is an externally managed real estate investment trust (REIT). It is engaged in primarily investing in and managing a portfolio of single-tenant, operationally essential real estate throughout the United States that is generally leased on a long-term, triple-net basis to tenants operating within retail, office, and industrial property types. The Company's portfolio includes an asset-backed securitization trust which issues non-recourse asset-backed securities collateralized by commercial real estate, net-leases and mortgage loans (Master Trust 2014); a portfolio of properties leased to Specialty Retail Shops Holding Corp. (Shopko)and its subsidiaries; a single distribution center property leased to a sporting goods tenant encumbered with Commercial Mortgage-Backed Securities (CMBS) debt, and a portfolio of unencumbered properties. It operates through two segments Master Trust 2014 and all other properties (Other Properties).