Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Distributions Paid

On July 1, 2016, the Company paid aggregate distributions of $10,510,000 ($4,929,000 in cash and $5,581,000 in shares of the Company’s common stock issued pursuant to the DRIP Offerings), which related to distributions declared for each day in the period from June 1, 2016 through June 30, 2016. On August 1, 2016, the Company paid aggregate distributions of $10,874,000 ($5,118,000 in cash and $5,756,000 in shares of the Company’s common stock issued pursuant to the DRIP Offerings), which related to distributions declared for each day in the period from July 1, 2016 through July 31, 2016.

Distributions Declared

On August 12, 2016, the board of directors of the Company approved and declared a distribution to the Company’s stockholders of record as of the close of business on each day of the period commencing on September 1, 2016 and ending on November 30, 2016. The distributions will be calculated based on 366 days in the calendar year and will be equal to $0.001912568 per share of common stock. The distributions declared for each record date in September 2016, October 2016 and November 2016 will be paid in October 2016, November 2016 and December 2016, respectively. The distributions will be payable to stockholders from legally available funds therefor.