Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Schedule of Asset Management and Other Fees

The following table presents the differences in fees and selling commissions between the classes of the Company’s common stock:

	Class A Shares	Class T Shares	Class I Shares
Initial Offering Price	$10.1111	$9.5538	$9.1000
Selling Commissions (per share)	7.00%	2.00%	None
Dealer Manager Fee (per share)	3.00%	2.75%	None
Distribution Fee (per share)	None	1.00%	None

Schedule of Stock by Class

The following table presents Class A, Class T, and Class I common shares the Company issued, and the corresponding gross proceeds generated, in connection with its Primary Offering for the years endedDecember 31, 2016 and 2015 and the period from inception through December 31, 2016 (in thousands):

	Class A Shares		Class T Shares		Class I Shares
Year ended December 31, 2016
Share issuances	501		296		74
Gross proceeds	$	5,007	$	2,831	$	669
Year ended December 31, 2015
Share issuances	220		—		—
Gross proceeds	$	2,000	$	—	$	—
Inception through December 31, 2016
Share issuances	721		296		74
Gross proceeds	$	7,007	$	2,831	$	669

Schedule of Distributions Declared

The following table presents distributions declared for the year endedDecember 31, 2016:

	Distributions(1)
Period	Cash		DRP		Total
2016
First Quarter					$	—
Second Quarter	3,175		20		3,195
Third Quarter	7,637		1,205		8,842
Fourth Quarter	8,533		3,357		11,890
Total	$	19,345	$	4,582	$	23,927

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(1) Represents distributions declared for the period, even though such distributions are actually paid to stockholders the month following such period. For the year endedDecember 31, 2016, 100% of distributions paid was a return of capital.