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Condensed Consolidated Statements of Changes in Equity and Redeemable Equity Instruments - 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, 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                      
Beginning balance at Dec. 31, 2023 5,658                      
Increase (Decrease) in Temporary Equity [Roll Forward]                        
Distribution reinvestment 4,835                      
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 410,314                      
Ending balance at Mar. 31, 2024 4,735                      
Beginning balance at Dec. 31, 2024 176,608 102,268 0 6 7 9 47 12 0 229,983 (127,796) 74,340
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Proceeds from issuance of common stock, net of offering costs 4,633 4,633     1   1     4,631    
Distribution reinvestment 575 575               575    
Common stock repurchased (9,505) (9,505)         (3)     (9,502)    
Share-based compensation 62 62               62    
Net income (loss) (2,360) (2,347)                 (2,347) (13)
Common stock and INREIT OP unit distributions (9,359) (9,359)                 (9,359)  
Contributions from non-controlling interests 63,827                     63,827
Distributions to non-controlling interests (1,427)                     (1,427)
Sale of interest in consolidated joint ventures 17,050 17,050               17,050    
Ending balance at Mar. 31, 2025 240,104 $ 103,377 $ 0 $ 6 $ 8 $ 9 $ 45 $ 12 $ 0 $ 242,799 $ (139,502) $ 136,727
Beginning balance at Dec. 31, 2024 425,178                      
Beginning balance at Dec. 31, 2024 2,018                      
Increase (Decrease) in Temporary Equity [Roll Forward]                        
Distribution reinvestment 5,097                      
Common stock repurchased (865)                      
Net income (loss) 18                      
Common stock and INREIT OP unit distributions (22)                      
Ending balance at Mar. 31, 2025 430,275                      
Ending balance at Mar. 31, 2025 $ 1,149