Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2024

The following table details the components of due to affiliates:


in thousands	September 30, 2024		December 31, 2023
Advanced general and administrative expenses	$	8,348	$	9,448
Advanced offering costs	6,895		6,134
Accrued stockholder servicing fee	2,502		2,112
Distributions payable	2,493		2,501
Advanced organization expenses	1,474		1,474
Accrued management fee	342		309
Accrued affiliate service provider expenses	204		16



Total	$	22,258	$	21,994

The following table presents the upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees per annum for each class of shares sold in the Offering:


	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%(1)	up to 3.5%	up to 1.5%	—	—
Maximum Upfront Dealer Manager Fees (% of Transaction Price)	0.5%(1)	—	—	—	—
Stockholder Servicing Fee (% of NAV)	0.85%(2)	0.85%	0.25%	—	—

(1)For Class T shares sold in the Offering (other than as part of our distribution reinvestment plan), investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction price.

(2)Consists of a representative stockholder servicing fee (0.65% per annum) and a dealer stockholder servicing fee (0.20% per annum).

The table below shows the amount of shares and the total purchase price of those shares, which are held by affiliates as of September 30, 2024.


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	—	—	—	—	—	14,289,602	$	421,189
Invesco Global Property Plus Fund	—	—	—	1,193,393	834,416	—	57,500
Invesco Realty, Inc.	351,856	351,856	351,856	311,283	—	—	39,016
Members of our board of directors and employees of our Adviser(1)	—	—	—	—	116,395	—	3,215
	351,856	351,856	351,856	1,504,676	950,811	14,289,602	$	520,920

(1)Members of our board of directors and employees of our Adviser are made up of officers of the Company or employees who serve on the Company’s steering committee.