Equity (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Common Stock

As of September 30, 2020, the Company had an aggregate of 60,206,977 shares of $0.01 par value common stock outstanding (dollars in thousands):

	Shares Issued			Gross Proceeds
Shares issued through initial public offering		55,791,297		$	556,197
Shares issued through stock distributions		246,365			—
Shares issued through distribution reinvestment plan		10,197,719			88,479
Advisor's initial investment, net of 5,000 share conversion 1		15,000			150
Total		66,250,381		$	644,826
Shares redeemed and retired		(6,043,404	)
Total shares outstanding		60,206,977

During the nine months ended September 30, 2020, the Company redeemed shares as follows (in thousands, except per share data):

Month	Total Number of Shares Redeemed		Average Price Paid per Share		Cumulative Number of Shares Purchased as Part of a Publicly Announced Plan or Program
January 2020		—	$	—		—
February 2020		—	$	—		—
March 2020		140	$	8.77		140
April 2020		—	$	—		—
May 2020		—	$	—		—
June 2020		120	$	9.08		260
July 2020		—	$	—		—
August 2020		—	$	—		—
September 2020		—	$	—		—

Schedule of Distributions

For the nine months ended September 30, 2020, the Company paid aggregate distributions of $6.0 million, including $2.9 million of distributions paid in cash and $3.1 million of distributions reinvested in shares of common stock through the Company's distribution reinvestment plan, as follows (in thousands):

Authorization Date	Per Common Share per day		Record Dates	Distribution Date	Distributions reinvested in shares of Common Stock		Net Cash Distributions		Total Aggregate Distributions
December 11, 2019	$	0.001095890	December 31, 2019 through January 30, 2020	January 31, 2020	$	1,074	$	968	$	2,042
December 11, 2019	$	0.001095890	January 31, 2020 through February 27, 2020	February 28, 2020	$	965	$	883	$	1,848
December 11, 2019	$	0.001095890	February 28, 2020 through March 30, 2020	March 31, 2020	$	1,092	$	1,022	$	2,114
					$	3,131	$	2,873	$	6,004

The following is a reconciliation of total aggregate distributions paid to total distributions declared for the nine months ended September 30, 2020 (in thousands):

Total aggregate distributions paid	$	6,004
Less: distributions payable at December 31, 2019		(5,993	)
Add: distributions payable at September 30, 2020		-
True-up of prior year cash distributions declared	$	11