Equity and Redeemable Non-controlling Interest (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Common Stock Outstanding Roll Forward

The following tables detail the movement in the Company’s outstanding shares of common stock:


	Three Months Ended March 31, 2024
	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Total
Balance at December 31, 2023	613,405	528,268	832,598	4,332,740	1,190,589	13,783,204	21,280,804
Issuance of common stock	7,631	115,782	32,613	371,514	15,742	—	543,282

Common stock repurchased	(226)	—	(262)	(242,673)	(15,463)	—	(258,624)
Distribution reinvestment	1,985	1,615	3,677	5,690	2,506	164,658	180,131
Balance at March 31, 2024	622,795	645,665	868,626	4,467,271	1,193,374	13,947,862	21,745,593


	Three Months Ended March 31, 2023
	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Total
Balance at December 31, 2022	449,680	351,856	604,538	3,764,505	1,827,018	13,523,324	20,520,921
Issuance of common stock	83,872	—	53,224	265,404	13,601	—	416,101
Common stock repurchased	—	—	—	—	(401,116)	—	(401,116)
Distribution reinvestment	474	—	1,133	4,436	2,430	—	8,473
Balance at March 31, 2023	534,026	351,856	658,895	4,034,345	1,441,933	13,523,324	20,544,379

Schedule of Aggregate Distributions Declared

The following tables detail the aggregate distributions declared per share for each applicable class of stock for the three months ended March 31, 2024 and 2023:


	Three Months Ended March 31, 2024
	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	$	—	$	0.4182	$	0.4182	$	0.4182	$	0.4182	$	0.4182	$	0.4182
Stockholder servicing fee per share(1)	—		(0.0259)		(0.0229)		(0.0104)		—		—		—
Net distributions declared per share	$	—	$	0.3923	$	0.3953	$	0.4078	$	0.4182	$	0.4182	$	0.4182


	Three Months Ended March 31, 2023
	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	$	—	$	0.4162	$	0.4162	$	0.4162	$	0.4162	$	0.4162	$	0.4162
Stockholder servicing fee per share(1)	—		(0.0193)		—		(0.0085)		—		—		—
Net distributions declared per share	$	—	$	0.3969	$	0.4162	$	0.4077	$	0.4162	$	0.4162	$	0.4162

See Note 16 — “Related Party Transactions” for a discussion of our stockholder servicing fee.

Schedule of Redeemable Noncontrolling Interest

The following table details the non-controlling interest activity related to the Special Limited Partner:


	Three Months Ended March 31,
$ in thousands	2024		2023
Net loss allocated	$	(39)	$	(40)
Distributions	$	71	$	78
Adjustment to carrying value	$	54	$	568