Subsequent Events

12 Months Ended

Dec. 31, 2021

Investment Activity

In February 2022, the Company made an additional equity investment in ATA of $1.1 million.

Distributions

In January, February and March 2022, the Company’s board of directors declared a monthly cash distribution on the outstanding shares of all classes of common shares of record on February 25, 2022, March 30, 2022 and April 28, 2022, respectively, of $0.104167 per share for Class FA shares, $0.104167 per share for Class A shares, $0.083333 per share for Class T shares, $0.093750 per share for Class D shares, $0.104167 per share for Class I shares and $0.104167 per share for Class S shares.

Offerings

In January, February and March 2022, the Company’s board of directors approved new per share offering prices for each share class in the Public Offering. The new offering prices are effective as of January 28, 2022, February 25, 2022 and March 24, 2022, respectively. The following table provides the new offering prices and applicable upfront selling commissions and placement agent / dealer manager fees for each share class available in the Public Offering:


	Class A		Class T		Class D		Class I
Effective January 28, 2022:
Offering Price, Per Share	$	33.64	$	32.19	$	30.35	$	31.18
Selling Commissions, Per Share	2.02		0.97		—		—
Placement Agent / Dealer Manager Fees, Per Share	0.84		0.56		—		—
Effective February 25, 2022:
Offering Price, Per Share	$	33.98	$	32.48	$	30.65	$	31.50
Selling Commissions, Per Share	2.04		0.97		—		—
Dealer Manager Fees, Per Share	0.85		0.57		—		—
Effective March 24, 2022:
Offering Price, Per Share	$	33.97	$	32.44	$	30.62	$	31.49
Selling Commissions, Per Share	2.04		0.97		—		—
Dealer Manager Fees, Per Share	0.85		0.57		—		—

Capital Transactions

During the period January 1, 2022 through March 28, 2022, the Company received additional net proceeds from the Public Offering and its distribution reinvestment plan of the following:


	Proceeds from Public Offering							Distribution Reinvestment Plan			Total
Share Class	Shares Issued	Gross Proceeds		Sales Load		Net Proceeds to Company		Shares	Proceeds to Company		Shares	Net Proceeds to Company		Average Net Proceeds per Share
Class A	102,283	$	3,404,361	$	(234,035)	$	3,170,326	10,698	$	330,988	112,981	$	3,501,314	$	30.99
Class T	40,504	1,308,250		(60,432)		1,247,818		8,231	253,154		48,735	1,500,972		30.80
Class D	70,157	2,143,000		—		2,143,000		5,393	164,194		75,550	2,307,194		30.54
Class I	493,689	15,458,388		—		15,458,388		24,666	773,117		518,355	16,231,505		31.31
	706,633	$	22,313,999	$	(294,467)	$	22,019,532	48,988	$	1,521,453	755,621	$	23,540,985	$	31.15