Equity (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Schedule of Company's Authorized Capital

As of June 30, 2017, the Company had authority to issue 2,100,000,000 shares, consisting of the following:

Classification	Number of Shares (in thousands)		Par Value
Preferred Stock		100,000	$	0.01
Class S Shares		500,000	$	0.01
Class T Shares		500,000	$	0.01
Class D Shares		500,000	$	0.01
Class I Shares		500,000	$	0.01
Total		2,100,000

Schedule of Company's Outstanding Shares of Common Stock

As of June 30, 2017, the Company had sold 88.9 million shares of its common stock in the Offering for aggregate net proceeds of $890.3 million. The following table details the movement in the Company’s outstanding shares of common stock (in thousands):

	Six Months Ended June 30, 2017
	Class T		Class S		Class D		Class I		Total
Beginning balance		—		—		—		20		20
Common stock issued		13		71,060		216		17,192		88,481
Distribution reinvestment		—		322		1		99		422
Directors’ restricted stock grant(1)		—		—		—		7		7
Ending balance		13		71,382		217		17,318		88,930

(1) The directors’ restricted stock grant represents 25% of the annual compensation paid to the independent directors. The grant is amortized over the service period of such grant.

Schedule of Aggregate Distributions Declared for Applicable Class of Common Stock

The following table details the aggregate distributions declared for each applicable class of common stock for the six months ended June 30, 2017 ($ in thousands, except share and per share data):

	Class S			Class I		Class D			Class T
Aggregate distributions declared per share of common stock	$	0.1732		$	0.1732	$	0.0958		$	0.0517
Stockholder servicing fee per share of common stock		(0.0377	)		—		(0.0042	)		(0.0071	)
Net distributions declared per share of common stock	$	0.1355		$	0.1732	$	0.0916		$	0.0446