SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

11. SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information and disclosure of non-cash investing and financing activities is as follows:



	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Interest paid	$	7,810	$	1,521	$	84
Distributions payable	2,241		920		56
Distribution fees payable to affiliates	16,467		7,457		394
Distributions reinvested in common stock	9,482		1,959		53
Accrued offering and organization costs due to the Advisor	21,347		14,197		927
Accrued acquisition expense reimbursements due to the Advisor	182		3,500		—
Redeemable noncontrolling interest issued as settlement of performance component of the advisory fee	723		—		—
Non-cash selling commissions and dealer manager fees	11,697		8,802		203
Mortgage notes assumed on real estate acquisitions at fair value	50,418		—		—

Restricted Cash

The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported within the consolidated balance sheets to the totals shown in the consolidated statements of cash flows:



	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Beginning of period:
Cash and cash equivalents	$	19,016	$	10,565	$	1,640
Restricted cash (1)	5		481		481
Cash, cash equivalents and restricted cash	$	19,021	$	11,046	$	2,121
End of period:
Cash and cash equivalents	$	51,178	$	19,016	$	10,565
Restricted cash (1)	—		5		481
Cash, cash equivalents and restricted cash	$	51,178	$	19,021	$	11,046

(1)

As of December 31, 2019, the Company did not have any restricted cash. As of December 31, 2018, restricted cash consisted of cash held in escrow in connection with certain estimated property improvements. As of December 31, 2017, restricted cash consisted of amounts deposited with a third-party escrow agent related to the notes issued pursuant to the private offering, which was released to the Company from escrow in January 2018. As of December 31, 2016, restricted cash consisted of amounts held in escrow related to the closing of the private offering. See “Note 6” for further information on the notes, and “Note 8” for further information on the private offering.