Equity and Redeemable Non-controlling Interest (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Company's Outstanding Shares of Common Stock

The following table details the movement in the Company’s outstanding shares of common stock (in thousands):

	Nine Months Ended September 30, 2018
	Class S			Class T			Class D			Class I			Total
December 31, 2017		130,085			5,625			3,955			30,719			170,384
Common stock issued		104,482			13,387			20,084			55,983			193,936
Distribution reinvestment		4,217			238			255			1,537			6,247
Common stock repurchased		(1,521	)		(23	)		(115	)		(1,194	)		(2,853	)
Independent directors' restricted stock grant⁽¹⁾		—			—			—			37			37
September 30, 2018		237,263			19,227			24,179			87,082			367,751

(1)

The independent directors’ restricted stock grant represents $0.1 million of the annual compensation paid to each of the independent directors. The grant is amortized over the one-year 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 nine months ended September 30, 2018 ($ in thousands, except share and per share data):

	Class S			Class T			Class D			Class I
Aggregate gross distributions declared per share of common stock	$	0.4699		$	0.4699		$	0.4699		$	0.4699
Stockholder servicing fee per share of common stock		(0.0683	)		(0.0672	)		(0.0199	)		—
Net distributions declared per share of common stock	$	0.4016		$	0.4027		$	0.4500		$	0.4699

Summary of Components of Non-controlling Interests

The following table summarizes the components of non-controlling interests ($ in thousands):

	September 30, 2018		December 31, 2017
Non-controlling interests attributable to third party joint ventures	$	61,664	$	23,848
Non-controlling interests attributable to Class B Units		49,125		—
Non-controlling interests	$	110,789	$	23,848