Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 12. Subsequent Events

Management has evaluated subsequent events through the date the unaudited interim condensed consolidated financial statements were available to be issued. Management has determined that there are no material events that would require adjustment to, or additional disclosure in, the Company’s unaudited interim condensed consolidated financial statements, other than those disclosed throughout this report and below.

Common Share Activity

The Company issued 10,503 Class A Common Shares, 31,610 Class I Common Shares (excluding the 44,518 OP Units that were exchanged for same number of Class I Common Shares discussed below), and 79,209 Class ER Common Shares totaling $3.1 million in proceeds from October 1, 2024 through the date of issuance of this report.

The Company repurchased 81,041 Class A Common Shares totaling $2.1 million and 97,175 Class I Common Shares totaling $2.6 million from October 1, 2024 through the date of this report. Additionally, 44,518 OP Units were exchanged for the same number of Class I Common Shares from October 1, 2024 through the issuance of this report.

The Company adjusted the offering price of its Class I, Class A, and Class S Common Shares effective October 21, 2024, as set forth in the table below. The offering price for the Class ER Common Shares is $28.97 and is not updated to equal net asset value (“NAV”) per Common Share as of September 30, 2024.

	Offering price
Effective date	Class I		Class A		Class ER		Class S
October 21, 2024	$	27.29	$	29.02	$	28.97	$	28.28

Debt Activity

The Company repaid a $16.9 million mortgage loan payable by its contractual maturity date of October 1, 2024. The Company utilized its revolving credit facility to facilitate this payment, increasing the outstanding balance of the revolving credit facility to $60.9 million.