XML 18 R5.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Changes in Equity and Redeemable Equity Instruments - USD ($)
$ in Thousands
Total
Total Stockholders' Equity
Preferred Stock
Common Stock
Class T Common Stock
Common Stock
Class S Common Stock
Common Stock
Class D Common Stock
Common Stock
Class I Common Stock
Common Stock
Class E Common Stock
Common Stock
Class N Common Stock
Additional Paid-in Capital
Accumulated Deficit and Cumulative Distributions
Non-controlling Interests in Consolidated Joint Ventures
Beginning balance at Dec. 31, 2021 $ 74,101 $ 70,030 $ 41 $ 2 $ 2 $ 2 $ 2 $ 22 $ 12 $ 94,097 $ (24,150) $ 4,071
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 48,158 48,158   2 2 2 3   8 48,141    
Distribution reinvestment 80 80               80    
Share-based compensation 19 19               19    
Net loss   (1,922)                 (1,922) (14)
Net loss (1,936)                      
Preferred stock dividends (2) (2)                 (2)  
Common stock distributions (5,876) (5,876)                 (5,876)  
Acquired non-controlling interests 2,025                     2,025
Distributions to non-controlling interests (80)                     (80)
Adjustment to carrying value of redeemable equity instruments (10,182) (10,182)               (10,182)    
Ending balance at Mar. 31, 2022 106,307 100,305 41 4 4 4 5 22 20 132,155 (31,950) 6,002
Beginning balance at Dec. 31, 2021 224,667                      
Class N Redeemable Common Stock                        
Proceeds from issuance of common stock, net of offering costs (42,990)                      
Adjustment to carrying value of redeemable equity instruments (10,044)                      
Ending balance at Mar. 31, 2022 277,701                      
Beginning balance at Dec. 31, 2021 0                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss (261)                      
Issuance of Class E OP Units to non-controlling interests 3,280                      
Distributions to non-controlling interests (30)                      
Adjustment to carrying value of redeemable equity instruments (138)                      
Ending balance at Mar. 31, 2022 3,127                      
Beginning balance at Dec. 31, 2021 74,101 70,030 41 2 2 2 2 22 12 94,097 (24,150) 4,071
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss 444                      
Ending balance at Jun. 30, 2022 110,511 79,683 41 4 4 4 26 22 0 125,789 (46,207) 30,828
Beginning balance at Dec. 31, 2021 224,667                      
Ending balance at Jun. 30, 2022 327,340                      
Beginning balance at Dec. 31, 2021 0                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss (299)                      
Ending balance at Jun. 30, 2022 3,173                      
Beginning balance at Dec. 31, 2021 74,101 70,030 41 2 2 2 2 22 12 94,097 (24,150) 4,071
Ending balance at Dec. 31, 2022 130,890 100,866 41 4 4 6 38 18 0 167,611 (66,856) 30,024
Beginning balance at Dec. 31, 2021 224,667                      
Ending balance at Dec. 31, 2022 432,604                      
Beginning balance at Dec. 31, 2021 0                      
Ending balance at Dec. 31, 2022 2,797                      
Beginning balance at Mar. 31, 2022 106,307 100,305 41 4 4 4 5 22 20 132,155 (31,950) 6,002
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 13,061 13,061         4     13,057    
Distribution reinvestment 129 129               129    
Common stock repurchased (9,200) (9,200)         (3)     (9,197)    
Share-based compensation 19 19               19    
Net loss 430 (7,697)                 (7,697) (430)
Net loss (8,127)                      
Exchange of common stock             20   (20)      
Preferred stock dividends (2) (2)                 (2)  
Common stock distributions (6,558) (6,558)                 (6,558)  
Acquired non-controlling interests 25,400                     25,400
Distributions to non-controlling interests (144)                     (144)
Adjustment to carrying value of redeemable equity instruments (10,374) (10,374)               (10,374)    
Ending balance at Jun. 30, 2022 110,511 79,683 41 4 4 4 26 22 0 125,789 (46,207) 30,828
Beginning balance at Mar. 31, 2022 277,701                      
Class N Redeemable Common Stock                        
Proceeds from issuance of common stock, net of offering costs (44,188)                      
Common stock repurchased (4,795)                      
Adjustment to carrying value of redeemable equity instruments (10,246)                      
Ending balance at Jun. 30, 2022 327,340                      
Beginning balance at Mar. 31, 2022 3,127                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss (38)                      
Distributions to non-controlling interests (44)                      
Adjustment to carrying value of redeemable equity instruments (128)                      
Ending balance at Jun. 30, 2022 3,173                      
Beginning balance at Dec. 31, 2022 130,890 100,866 41 4 4 6 38 18 0 167,611 (66,856) 30,024
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 12,733 12,733   1   1 2     12,729    
Distribution reinvestment 270 270               270    
Common stock repurchased (13,025) (13,025)           (4)   (13,021)    
Share-based compensation 20 20               20    
Net loss   5,448                 5,448 755
Net loss (6,203)                      
Preferred stock dividends (2) (2)                 (2)  
Common stock distributions (8,500) (8,500)                 (8,500)  
Contributions from non-controlling interests 28                     28
Distributions to non-controlling interests (226)                     (226)
Adjustment to carrying value of redeemable equity instruments 12,324 12,324               12,324    
Ending balance at Mar. 31, 2023 128,309 99,238 41 5 4 7 40 14 0 179,933 (80,806) 29,071
Beginning balance at Dec. 31, 2022 432,604                      
Class N Redeemable Common Stock                        
Proceeds from issuance of common stock, net of offering costs (3)                      
Adjustment to carrying value of redeemable equity instruments (12,892)                      
Ending balance at Mar. 31, 2023 419,709                      
Beginning balance at Dec. 31, 2022 2,797                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss (40)                      
Redeemable noncontrolling interest, equity distributions (78)                      
Issuance of Class E OP Units to non-controlling interests 3,976                      
Adjustment to carrying value of redeemable equity instruments 568                      
Ending balance at Mar. 31, 2023 7,223                      
Beginning balance at Dec. 31, 2022 130,890 100,866 41 4 4 6 38 18 0 167,611 (66,856) 30,024
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net loss 716                      
Ending balance at Jun. 30, 2023 125,098 95,974 41 6 4 8 42 12 0 185,223 (89,362) 29,124
Beginning balance at Dec. 31, 2022 432,604                      
Ending balance at Jun. 30, 2023 415,766                      
Beginning balance at Dec. 31, 2022 2,797                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss (32)                      
Ending balance at Jun. 30, 2023 7,154                      
Beginning balance at Mar. 31, 2023 128,309 99,238 41 5 4 7 40 14 0 179,933 (80,806) 29,071
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 11,203 11,203   1   1 2     11,199    
Distribution reinvestment 324 324               324    
Common stock repurchased (10,177) (10,177)           (2)   (10,175)    
Share-based compensation 19 19               19    
Net loss (39) 63                 63 (39)
Net loss (24)                      
Preferred stock dividends (2) (2)                 (2)  
Common stock distributions (8,491) (8,491)                 (8,491)  
Contributions from non-controlling interests 191                     191
Distributions to non-controlling interests (177)                     (177)
Adjustment to carrying value of redeemable equity instruments 3,923 3,923               3,923    
Ending balance at Jun. 30, 2023 125,098 $ 95,974 $ 41 $ 6 $ 4 $ 8 $ 42 $ 12 $ 0 $ 185,223 $ (89,362) $ 29,124
Beginning balance at Mar. 31, 2023 419,709                      
Class N Redeemable Common Stock                        
Proceeds from issuance of common stock, net of offering costs (2)                      
Adjustment to carrying value of redeemable equity instruments (3,941)                      
Ending balance at Jun. 30, 2023 415,766                      
Beginning balance at Mar. 31, 2023 7,223                      
Redeemable Non-controlling Interest in INREIT OP                        
Net loss 8                      
Redeemable noncontrolling interest, equity distributions (95)                      
Adjustment to carrying value of redeemable equity instruments 18                      
Ending balance at Jun. 30, 2023 $ 7,154