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Condensed Consolidated Statements of Changes in Equity and Redeemable Equity Instruments (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders' Equity
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 income (loss) (40)                      
Common stock and INREIT OP unit 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 Sep. 30, 2023 135,935 106,227 41 6 5 8 44 12 0 206,403 (100,292) 29,708
Beginning balance at Dec. 31, 2022 432,604                      
Ending balance at Sep. 30, 2023 408,017                      
Beginning balance at Dec. 31, 2022 2,797                      
Redeemable Non-controlling Interest in INREIT OP                        
Net income (loss) (43)                      
Ending balance at Sep. 30, 2023 6,675                      
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)  
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 income (loss) 8                      
Common stock and INREIT OP unit distributions (95)                      
Adjustment to carrying value of redeemable equity instruments 18                      
Ending balance at Jun. 30, 2023 7,154                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 16,690 16,690     1   4     16,685    
Distribution reinvestment 334 334               334    
Common stock repurchased (6,831) (6,831)         (2)     (6,829)    
Share-based compensation 20 20               20    
Net income (loss) (2,275) (2,246)                 (2,246) (29)
Preferred stock dividends (2) (2)                 (2)  
Common stock and INREIT OP unit distributions (8,682) (8,682)                 (8,682)  
Contributions from non-controlling interests 809                     809
Distributions to non-controlling interests (196)                     (196)
Adjustment to carrying value of redeemable equity instruments 10,970 10,970               10,970    
Ending balance at Sep. 30, 2023 135,935 106,227 41 6 5 8 44 12 0 206,403 (100,292) 29,708
Class N Redeemable Common Stock                        
Distribution reinvestment 3,148                      
Adjustment to carrying value of redeemable equity instruments (10,897)                      
Ending balance at Sep. 30, 2023 408,017                      
Redeemable Non-controlling Interest in INREIT OP                        
Common stock repurchased (301)                      
Net income (loss) (11)                      
Common stock and INREIT OP unit distributions (94)                      
Adjustment to carrying value of redeemable equity instruments (73)                      
Ending balance at Sep. 30, 2023 6,675                      
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 income (loss) (39)                      
Common stock and INREIT OP unit 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 Sep. 30, 2024 131,564 78,992 0 6 7 9 46 12 0 228,311 (149,399) 52,572
Beginning balance at Dec. 31, 2023 405,479                      
Ending balance at Sep. 30, 2024 420,164                      
Beginning balance at Dec. 31, 2023 5,658                      
Redeemable Non-controlling Interest in INREIT OP                        
Net income (loss) (57)                      
Ending balance at Sep. 30, 2024 2,926                      
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 income (loss) (3)                      
Common stock and INREIT OP unit distributions (59)                      
Adjustment to carrying value of redeemable equity instruments 27                      
Ending balance at Jun. 30, 2024 3,848                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 8,670 8,670         2     8,668    
Distribution reinvestment 530 530               530    
Common stock repurchased (7,492) (7,492)         (2)     (7,490)    
Share-based compensation 19 19               19    
Net income (loss) (4,447) (3,460)                 (3,460) (987)
Common stock and INREIT OP unit distributions (9,232) (9,232)                 (9,232)  
Contributions from non-controlling interests 6,044                     6,044
Distributions to non-controlling interests (173)                     (173)
Adjustment to carrying value of redeemable equity instruments (15) (15)               (15)    
Ending balance at Sep. 30, 2024 131,564 $ 78,992 $ 0 $ 6 $ 7 $ 9 $ 46 $ 12 $ 0 $ 228,311 $ (149,399) $ 52,572
Class N Redeemable Common Stock                        
Distribution reinvestment 4,961                      
Ending balance at Sep. 30, 2024 420,164                      
Redeemable Non-controlling Interest in INREIT OP                        
Common stock repurchased (875)                      
Net income (loss) (15)                      
Common stock and INREIT OP unit distributions (47)                      
Adjustment to carrying value of redeemable equity instruments 15                      
Ending balance at Sep. 30, 2024 $ 2,926