Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The following table details the components of due to affiliates:

$ in thousands	December 31, 2021		December 31, 2020
Advanced general and administrative expenses	$	6,443	$	2,205
Advanced offering costs	4,245		931
Performance participation interest	3,280		—
Advanced organization expenses	1,474		1,210
Distributions payable	1,440		503
Share-based compensation payable	20		19
Accrued management fee	28		—
Total	$	16,930	$	4,868

As of December 31, 2021, affiliates had purchased the following amounts of our common stock:

$ in thousands, except share amounts	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Total Purchase Price
MassMutual(1)	—	—	—	—	—	9,760,987	$	271,526
IGP+ Fund	—	—	—	—	1,994,164	1,183,697	94,500
Invesco Realty, Inc.(2)	91	91	91	—	—	738,701	20,008
Members of our board of directors and employees of our Adviser(3)	—	—	—	172	19,503	75,128	2,578
	91	91	91	172	2,013,667	11,758,513	$	388,612

(1)In accordance with MassMutual’s Subscription Agreement, we repurchased 2,388,175 of MassMutual Shares for $70.0 million. The amount presented is inclusive of the shares repurchased.

(2)Invesco Realty, Inc. purchased 738,701 Class N shares for $20.0 million and subsequently exchanged these Class N shares for 186,731 Class T shares, 186,731 Class S shares, 186,731 Class D shares and 186,208 Class I shares.

(3)Members of our board of directors and employees of our Adviser purchased 75,128 Class N shares for $2.0 million and subsequently exchanged these Class N shares for 75,128 Class E shares.

Schedule of Stockholder Servicing Fees

The following table presents the upfront selling commissions and dealer manager fees for each class of shares sold in the Offering, and the stockholder servicing fee per annum based on the aggregate outstanding NAV:

	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares
Maximum Upfront Selling Commissions (% of Transaction Price)	up to 3.0%	up to 3.5%	up to 1.5%	—	—
Maximum Upfront Dealer Manager Fees (% of Transaction Price)	0.50%	—	—	—	—
Stockholder Servicing Fee (% of NAV)	0.85%(1)	0.85%	0.25%	—	—

(1)Consists of an advisor stockholder servicing fee (0.65% per annum) and a dealer stockholder servicing fee (0.20% per annum).