Equity and Redeemable Non-controlling Interest (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Company's Authorized Capital

As of June 30, 2023, the Company had the authority to issue 12,100,000,000 shares, consisting of the following:

	Number of Shares (in thousands)	Par Value Per Share
Preferred Stock	100,000	$	0.01
Class S Shares	3,000,000	$	0.01
Class I Shares	6,000,000	$	0.01
Class T Shares	500,000	$	0.01
Class D Shares	1,500,000	$	0.01
Class C Shares	500,000	$	0.01
Class F Shares	500,000	$	0.01
Total	12,100,000

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):

	Three Months Ended June 30, 2023
	Class S	Class I	Class T	Class D	Class C	Total
March 31, 2023	1,582,436	2,827,354	70,538	166,792	1,085	4,648,205
Common stock issued (converted)(1)	8,913	34,414	(2,261)	3,506	953	45,525
Distribution reinvestment	7,745	13,780	405	788	(3)	22,715
Common stock repurchased	(41,369)	(173,912)	(2,196)	(7,312)	—	(224,789)
June 30, 2023	1,557,725	2,701,636	66,486	163,774	2,035	4,491,656
	Six Months Ended June 30, 2023
	Class S	Class I	Class T	Class D	Class C	Total
December 31, 2022	1,597,414	2,394,737	72,599	421,428	—	4,486,178
Common stock issued (converted)(2)	20,213	632,917	(2,913)	(241,563)	2,035	410,689
Distribution reinvestment	15,623	26,623	827	3,009	—	46,082
Common stock repurchased	(75,525)	(352,641)	(4,027)	(19,100)	—	(451,293)
June 30, 2023	1,557,725	2,701,636	66,486	163,774	2,035	4,491,656

(1)Includes conversion of shares from Class T to Class I during the three months ended June 30, 2023.

(2)Includes conversion of shares from Class T and Class D to Class I during the six months ended June 30, 2023.

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:

	Three Months Ended June 30, 2023
	Class S		Class I		Class T		Class D		Class C
Aggregate gross distributions declared per share of common stock	$	0.1664	$	0.1664	$	0.1664	$	0.1664	$	—
Stockholder servicing fee per share of common stock	(0.0311)		—		(0.0305)		(0.0090)		—
Net distributions declared per share of common stock	$	0.1353	$	0.1664	$	0.1359	$	0.1574	$	—
	Six Months Ended June 30, 2023
	Class S		Class I		Class T		Class D		Class C
Aggregate gross distributions declared per share of common stock	$	0.3327	$	0.3327	$	0.3327	$	0.3327	$	—
Stockholder servicing fee per share of common stock	(0.0621)		—		(0.0610)		(0.0179)		—
Net distributions declared per share of common stock	$	0.2706	$	0.3327	$	0.2717	$	0.3148	$	—

Summary of Redeemable Non-controlling Interest Activity Related to Special Limited Partner

The following table details the redeemable non-controlling interest activity related to the Special Limited Partner for the six months ended June 30, 2023 and 2022 ($ in thousands):

 

	Six Months Ended June 30,
	2023		2022
Balance at the beginning of the year	$	344,145	$	589,900
Settlement of current year performance participation allocation	—		237,924
Repurchases	—		(26,639)
Conversion to Class I and Class B units	(278,990)		(434,717)
Conversion to Class I and Class C shares	(65,313)		(128,205)
GAAP income allocation	1,919		(1,852)
Distributions	(1,300)		(2,690)
Fair value allocation	(104)		7,125
Ending balance	$	357	$	240,846