Equity (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Common Stock Outstanding Roll Forward

The following tables detail the movement in the Company’s outstanding shares of common stock for the years ended December 31, 2021 and 2020:


	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Total
Balance at December 31, 2019	—	—	—	—	—	8,000	8,000
Issuance of common stock	—	—	—	—	—	3,716,745	3,716,745
Cancellation of common stock	—	—	—	—	—	(115,918)	(115,918)
Distribution reinvestment	—	—	—	—	—	4	4
Balance at December 31, 2020	—	—	—	—	—	3,608,831	3,608,831
Issuance of common stock	91	91	91	—	2,085,807	8,230,589	10,316,669
Common stock repurchased(1)	—	—	—	—	—	(2,388,175)	(2,388,175)
Exchange of common stock	186,730	186,730	186,730	186,208	156,066	(894,768)	7,696
Distribution reinvestment	—	—	—	507	2,708	32	3,247
Balance at December 31, 2021	186,821	186,821	186,821	186,715	2,244,581	8,556,509	11,548,268

(1)In accordance with MassMutual’s Subscription Agreement, during the year ended December 31, 2021, we repurchased 2,388,175 of MassMutual Shares for $70.0 million.

Schedule of Aggregate Distributions Declared

The following tables detail the aggregate distributions declared per share for each applicable class of stock for the years ended December 31, 2021 and 2020:


	Year Ended December 31, 2021
	Series A Preferred Stock		Class T Common Stock		Class S Common Stock		Class D Common Stock		Class I Common Stock		Class E Common Stock		Class N Common Stock
Aggregate distributions declared per share	$	62.5000	$	0.9688	$	0.9688	$	0.9688	$	1.0990	$	1.0990	$	1.6890
Stockholder servicing fee per share(1)	—		(0.1435)		(0.1435)		(0.0423)		—		—		—
Net distributions declared per share	$	62.5000	$	0.8253	$	0.8253	$	0.9265	$	1.0990	$	1.0990	$	1.6890


	Year Ended December 31, 2020
	Series A Preferred Stock		Class T Common Stock		Class S Common Stock		Class D Common Stock		Class I Common Stock		Class E Common Stock		Class N Common Stock
Aggregate distributions declared per share	$	7.1200	$	—	$	—	$	—	$	—	$	—	$	0.2650
Stockholder servicing fee per share(1)	—		—		—		—		—		—		—
Net distributions declared per share	$	7.1200	$	—	$	—	$	—	$	—	$	—	$	0.2650

(1)See Note 12 — “ Related Party Transactions” for a discussion of our stockholder servicing fee.