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Condensed Consolidated Statements of Changes in Equity and Redeemable Equity Instruments - USD ($)
$ in Thousands
Total
Total Stockholders' Equity
Preferred Stock
Preferred Stock
Series A 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, 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 income (loss) (6,203) (5,448)                   (5,448) (755)
Preferred stock dividends (2) (2)                   (2)  
Common stock and INREIT OP unit 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)                        
Common stock 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
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 Dec. 31, 2022 130,890 100,866 41   4 4 6 38 18 0 167,611 (66,856) 30,024
Ending balance at Dec. 31, 2023 131,148 96,024 41   6 5 8 43 12 0 214,297 (118,388) 35,124
Beginning balance at Dec. 31, 2022 432,604                        
Ending balance at Dec. 31, 2023 405,479                        
Beginning balance at Dec. 31, 2022 2,797                        
Ending balance at Dec. 31, 2023 5,658                        
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 income (loss) (24) (63)                   (63) 39
Preferred stock dividends (2) (2)                   (2)  
Common stock and INREIT OP unit distributions (8,491) (8,491)                   (8,491)  
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                        
Common stock distributions (95)                        
Adjustment to carrying value of redeemable equity instruments 18                        
Ending balance at Jun. 30, 2023 7,154                        
Beginning balance at Dec. 31, 2023 131,148 96,024 41   6 5 8 43 12 0 214,297 (118,388) 35,124
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Proceeds from issuance of common stock, net of offering costs 14,787 14,787       1 1 4     14,781    
Distribution reinvestment 444 444                 444    
Common stock repurchased (7,363) (7,363)           (2)     (7,361)    
Share-based compensation 19 19                 19    
Net income (loss) 876 898                   898 (22)
Preferred stock dividends (2) (2)                   (2)  
Common stock and INREIT OP unit distributions (8,964) (8,964)                   (8,964)  
Contributions from non-controlling interests 5,472                       5,472
Distributions to non-controlling interests (425)                       (425)
Adjustment to carrying value of redeemable equity instruments (54) (54)                 (54)    
Ending balance at Mar. 31, 2024 135,938 95,789 41   6 6 9 45 12 0 222,126 (126,456) 40,149
Beginning balance at Dec. 31, 2023 405,479                        
Class N Redeemable Common Stock                          
Distribution reinvestment 4,835                        
Ending balance at Mar. 31, 2024 410,314                        
Beginning balance at Dec. 31, 2023 5,658                        
Redeemable Non-controlling Interest in INREIT OP                          
Common stock repurchased (867)                        
Net loss (39)                        
Common stock distributions (71)                        
Adjustment to carrying value of redeemable equity instruments 54                        
Ending balance at Mar. 31, 2024 4,735                        
Beginning balance at Dec. 31, 2023 131,148 96,024 41   6 5 8 43 12 0 214,297 (118,388) 35,124
Ending balance at Jun. 30, 2024 137,660 89,972 0   6 7 9 46 12 0 226,599 (136,707) 47,688
Beginning balance at Dec. 31, 2023 405,479                        
Ending balance at Jun. 30, 2024 415,203                        
Beginning balance at Dec. 31, 2023 5,658                        
Redeemable Non-controlling Interest in INREIT OP                          
Net loss (42)                        
Ending balance at Jun. 30, 2024 3,848                        
Beginning balance at Mar. 31, 2024 135,938 95,789 41   6 6 9 45 12 0 222,126 (126,456) 40,149
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Redemption of preferred stock (65) (65)   $ (41)               (24)  
Proceeds from issuance of common stock, net of offering costs 11,804 11,804       1   4     11,799    
Distribution reinvestment 505 505                 505    
Common stock repurchased (7,826) (7,826)           (3)     (7,823)    
Share-based compensation 19 19                 19    
Net income (loss) (1,609) (1,134)                   (1,134) (475)
Preferred stock dividends (2) (2)                   (2)  
Common stock and INREIT OP unit distributions (9,091) (9,091)                   (9,091)  
Contributions from non-controlling interests 8,329                       8,329
Distributions to non-controlling interests (315)                       (315)
Adjustment to carrying value of redeemable equity instruments (27) (27)                 (27)    
Ending balance at Jun. 30, 2024 137,660 $ 89,972 $ 0   $ 6 $ 7 $ 9 $ 46 $ 12 $ 0 $ 226,599 $ (136,707) $ 47,688
Beginning balance at Mar. 31, 2024 410,314                        
Class N Redeemable Common Stock                          
Distribution reinvestment 4,889                        
Ending balance at Jun. 30, 2024 415,203                        
Beginning balance at Mar. 31, 2024 4,735                        
Redeemable Non-controlling Interest in INREIT OP                          
Common stock repurchased (852)                        
Net loss (3)                        
Common stock distributions (59)                        
Adjustment to carrying value of redeemable equity instruments 27                        
Ending balance at Jun. 30, 2024 $ 3,848