The tenant of the CO Property (“Alliance Data Systems”) has subleased all 233,573 rentable square feet of the building located at the CO Property to Upstart Network, Inc. (“Upstart”), an affiliate of Upstart Holdings Inc (NASDAQ: UPST). The terms of the sublease, which commences on or about January 1, 2022, and includes a term of 92 months with renewal rights extending up to the lease maturity of the existing lease. As part of the sublease transaction, Alliance Data Systems will invest approximately $5.8 million into building improvements including a new café, gym, conference areas and employee amenities. Alliance Data Systems will remain as guarantor under the master lease

On March 11, 2022, the Company through the Operating Partnership, acquired an industrial dry/cold storage facility (the “Fisher Rd Property”) located in Columbus, OH at a contract purchase price of $58 million, exclusive of closing costs. The property is triple net leased to Mars Petcare, US, Inc.

The Fisher Rd Property was acquired with proceeds from the Offerings of $8.6 million and a $50 million advance on the Citizens Facility.

On March 14, 2022, the Company, and its indirect, wholly-owned subsidiary, the GR Property SPE, entered into an agreement with Walgreen Co. to extend the non-cancelable term of Walgreen’s lease on the property. The agreement confirms Walgreen’s waiver of a termination option thereby extending the non-cancelable term of the lease by five years to July 31, 2037. In addition, the full term of the lease has been extended by five years to July 31, 2087.

Under the terms of the agreement, Walgreen Co. received $900,000 from the Company in exchange for the waiver of a termination right by the tenant. The GR Property is currently encumbered by a single UBS AG loan with an anticipated repayment date of July 6, 2027. The lease extension increases the Company’s overall portfolio weighted average lease term from 9.2 years to 9.4 years of March 14, 2022.

Subsequent to December 31, 2021, the Company received and completed 20 eligible repurchase requests for a total of 40,006 shares in the amount of $1,029,484.

As of March 25, 2022, the Company had sold an aggregate of 11,441,888 shares of its common stock (consisting of 3,610,131 Class AX Shares, 1,132,974 Class TX Shares, 1,209,492 Class IX Shares, 735,856 Class T Shares, 377,559 Class D Shares, 4,363 Class S Shares, and 4,371,513 Class I Shares) in the Offerings resulting in net proceeds of $281,286,956 to the Company as payment for such shares.

As authorized by the board of directors of the Company, on March 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):


	Gross Distribution
Class T Shares	$	0.1189
Class S Shares	$	0.1189
Class D Shares	$	0.1189
Class I Shares	$	0.1189
Class AX Shares	$	0.1189
Class TX Shares	$	0.1189
Class IX Shares	$	0.1189

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 February 28, 2022 and will be paid on or about March 7, 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.