Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

Note 15 – Subsequent Events

Common Stock Repurchases

Subsequent to September 30, 2022, the Company received and completed 28 eligible repurchase requests for a total of 40,132 shares in the amount of $1,069,880.

Status of the Offerings

As of November 8, 2022, the Company had sold an aggregate of 15,014,704 shares of its common stock (consisting of 3,760,002, Class AX Shares, 851,165 Class TX Shares, 1,221,365 Class IX Shares, 1,225,617 Class T Shares, 6,903 Class S Shares, 517,987 Class D Shares, and 7,431,665 Class I Shares) in the Offerings resulting in net proceeds of $374,695,894 to the Company as payment for such shares.

Distributions

As authorized by the board of directors of the Company, on November 1, 2022 the Company declared the following distributions for each class of the Company’s common stock as rounded to the nearest three decimal places ($1.55 on an annual basis):

	October Gross Distribution
Class T Shares	$	0.1316
Class S Shares	$	0.1316
Class D Shares	$	0.1316
Class I Shares	$	0.1316
Class AX Shares	$	0.1316
Class TX Shares	$	0.1316
Class IX Shares	$	0.1316

The net distributions for each class of common stock (which represents the gross distributions described above less the distribution fee for the applicable class of common stock as described in the Company’s applicable prospectus) are payable to stockholders of record immediately following the close of business on October 31, 2022 and will be paid on or about November 3, 2022. These distributions will be paid in cash or reinvested in shares of the Company’s common stock for stockholders participating in the Company’s distribution reinvestment plan. Some or all of the cash distributions may be paid from sources other than cash flow from operations.

CFIT Mount Comfort Land Acquisition

On October 12, 2022, the Company, through a wholly-owned subsidiary, acquired a 100% interest in 1-acre of land located in Greenfield, IN (the “Mount Comfort Land”) for a purchase price of $445,000, exclusive of closing costs. The Company acquired the Mount Comfort Land with the proceeds from the Follow-On Offering.