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Consolidated Statements of Equity - USD ($)
Total
Common Shares
Class A
Common Shares
Class I
Common Shares
Class ER
Additional Paid-In Capital
Cumulative Distributions in Excess of Net Income
Accumulated Other Comprehensive Income (Loss)
Total Shareholders' Equity
Noncontrolling Interest Attributable to Operating Partnership
Beginning balance at Dec. 31, 2022 $ 529,074,000 $ 93,000 $ 52,000   $ 371,459,000 $ (30,761,000)   $ 340,843,000 $ 188,231,000
Beginning balance, shares at Dec. 31, 2022   9,268,108 5,193,941            
Net (loss) (609,000)         (403,000)   (403,000) (206,000)
Unrealized gain (loss) on change in fair value of cash flow hedges (879,000)           $ (585,000) (585,000) (294,000)
Issuance of common shares 20,630,000 $ 5,000 $ 3,000   20,622,000     20,630,000  
Issuance of common shares, shares   446,995 256,807            
Repurchase of common shares (3,533,000) $ (1,000) $ (1,000)   (3,531,000)     (3,533,000)  
Repurchase of common shares, shares   (64,461) (73,645)            
Offering costs (995,000)       (995,000)     (995,000)  
Distributions (9,698,000)         (6,423,000)   (6,423,000) (3,275,000)
Ending balance at Mar. 31, 2023 533,990,000 $ 97,000 $ 54,000   387,555,000 (37,587,000) (585,000) 349,534,000 184,456,000
Ending balance, shares at Mar. 31, 2023   9,650,642 5,377,103            
Beginning balance at Dec. 31, 2022 529,074,000 $ 93,000 $ 52,000   371,459,000 (30,761,000)   340,843,000 188,231,000
Beginning balance, shares at Dec. 31, 2022   9,268,108 5,193,941            
Net (loss) (1,237,000)                
Ending balance at Sep. 30, 2023 545,218,000 $ 99,000 $ 57,000   403,148,000 (51,338,000) 178,000 352,144,000 193,074,000
Ending balance, shares at Sep. 30, 2023   9,861,179 5,733,448            
Beginning balance at Mar. 31, 2023 533,990,000 $ 97,000 $ 54,000   387,555,000 (37,587,000) (585,000) 349,534,000 184,456,000
Beginning balance, shares at Mar. 31, 2023   9,650,642 5,377,103            
Net (loss) (224,000)         (151,000)   (151,000) (73,000)
Unrealized gain (loss) on change in fair value of cash flow hedges 690,000           458,000 458,000 232,000
Issuance of common shares 8,695,000   $ 2,000   8,693,000     8,695,000  
Issuance of common shares, shares   111,741 194,897            
Repurchase of common shares (2,451,000)   $ (1,000)   (2,450,000)     (2,451,000)  
Repurchase of common shares, shares   (18,466) (74,451)            
Conversion of OP Units to common shares         1,014,000     1,014,000 (1,014,000)
Conversion of OP Units to common shares, shares     37,479            
Offering costs (281,000)       (281,000)     (281,000)  
Distributions (9,868,000)         (6,600,000)   (6,600,000) (3,268,000)
Ending balance at Jun. 30, 2023 530,551,000 $ 97,000 $ 55,000   394,531,000 (44,338,000) (127,000) 350,218,000 180,333,000
Ending balance, shares at Jun. 30, 2023   9,743,917 5,535,028            
Net (loss) (404,000)         (270,000)   (270,000) (134,000)
Unrealized gain (loss) on change in fair value of cash flow hedges 460,000           305,000 305,000 155,000
Issuance of common shares 9,864,000 $ 2,000 $ 2,000   9,860,000     9,864,000  
Issuance of common shares, shares   131,181 219,455            
Repurchase of common shares (2,454,000)   $ (1,000)   (2,453,000)     (2,454,000)  
Repurchase of common shares, shares   (13,919) (80,031)            
Issuance of OP Units 18,228,000               18,228,000
Conversion of OP Units to common shares     $ 1,000   1,535,000     1,536,000 (1,536,000)
Conversion of OP Units to common shares, shares     58,996            
Offering costs (959,000)       (325,000)     (325,000) (634,000)
Distributions (10,068,000)         (6,730,000)   (6,730,000) (3,338,000)
Ending balance at Sep. 30, 2023 545,218,000 $ 99,000 $ 57,000   403,148,000 (51,338,000) 178,000 352,144,000 193,074,000
Ending balance, shares at Sep. 30, 2023   9,861,179 5,733,448            
Beginning balance at Dec. 31, 2023 537,042,000 $ 100,000 $ 58,000   408,358,000 (58,448,000) (360,000) 349,708,000 187,334,000
Beginning balance, shares at Dec. 31, 2023   10,017,613 5,768,982            
Net (loss) (589,000)         (390,000)   (390,000) (199,000)
Unrealized gain (loss) on change in fair value of cash flow hedges 497,000           329,000 329,000 168,000
Issuance of common shares 8,482,000 $ 2,000 $ 1,000   8,479,000     8,482,000  
Issuance of common shares, shares   214,923 85,569            
Issuance of common shares under DRIP 968,000       968,000     968,000  
Issuance of common shares under DRIP, Shares   19,638 16,573            
Repurchase of common shares (8,063,000)   $ (3,000)   (8,060,000)     (8,063,000)  
Repurchase of common shares, shares   (52,959) (251,315)            
Conversion of OP Units to common shares         661,000     661,000 (661,000)
Conversion of OP Units to common shares, shares     24,449            
Offering costs (448,000)       (448,000)     (448,000)  
Distributions (10,310,000)         (6,826,000)   (6,826,000) (3,484,000)
Ending balance at Mar. 31, 2024 527,579,000 $ 102,000 $ 56,000   409,958,000 (65,664,000) (31,000) 344,421,000 183,158,000
Ending balance, shares at Mar. 31, 2024   10,199,215 5,644,258            
Beginning balance at Dec. 31, 2023 537,042,000 $ 100,000 $ 58,000   408,358,000 (58,448,000) (360,000) 349,708,000 187,334,000
Beginning balance, shares at Dec. 31, 2023   10,017,613 5,768,982            
Net (loss) (732,000)                
Ending balance at Sep. 30, 2024 519,535,000 $ 104,000 $ 60,000 $ 1,000 425,348,000 (79,855,000) (476,000) 345,182,000 174,353,000
Ending balance, shares at Sep. 30, 2024   10,360,669 5,984,267 64,404          
Beginning balance at Mar. 31, 2024 527,579,000 $ 102,000 $ 56,000   409,958,000 (65,664,000) (31,000) 344,421,000 183,158,000
Beginning balance, shares at Mar. 31, 2024   10,199,215 5,644,258            
Net (loss) (25,000)         (19,000)   (19,000) (6,000)
Unrealized gain (loss) on change in fair value of cash flow hedges 94,000           63,000 63,000 31,000
Issuance of common shares 13,528,000 $ 1,000 $ 4,000   13,523,000     13,528,000  
Issuance of common shares, shares   111,513 380,982            
Issuance of common shares under DRIP 1,116,000       1,116,000     1,116,000  
Issuance of common shares under DRIP, Shares   21,991 19,613            
Repurchase of common shares (3,900,000)   $ (1,000)   (3,899,000)     (3,900,000)  
Repurchase of common shares, shares   (51,244) (96,924)            
Conversion of OP Units to common shares     $ 1,000   1,223,000     1,224,000 (1,224,000)
Conversion of OP Units to common shares, shares     45,492            
Offering costs (324,000)       (324,000)     (324,000)  
Distributions (10,478,000)         (7,015,000)   (7,015,000) (3,463,000)
Ending balance at Jun. 30, 2024 527,590,000 $ 103,000 $ 60,000   421,597,000 (72,698,000) 32,000 349,094,000 178,496,000
Ending balance, shares at Jun. 30, 2024   10,281,475 5,993,421            
Net (loss) (118,000)         (80,000)   (80,000) (38,000)
Unrealized gain (loss) on change in fair value of cash flow hedges (755,000)           (508,000) (508,000) (247,000)
Issuance of common shares 8,165,000 $ 1,000 $ 1,000 $ 1,000 8,162,000     8,165,000  
Issuance of common shares, shares   108,895 115,641 64,404          
Issuance of common shares under DRIP 1,142,000       1,142,000     1,142,000  
Issuance of common shares under DRIP, Shares   21,682 20,713            
Repurchase of common shares (5,578,000)   $ (1,000)   (5,577,000)     (5,578,000)  
Repurchase of common shares, shares   (51,383) (160,642)            
Conversion of OP Units to common shares         401,000     401,000 (401,000)
Conversion of OP Units to common shares, shares     15,134            
Offering costs (377,000)       (377,000)     (377,000)  
Distributions (10,534,000)         (7,077,000)   (7,077,000) (3,457,000)
Ending balance at Sep. 30, 2024 $ 519,535,000 $ 104,000 $ 60,000 $ 1,000 $ 425,348,000 $ (79,855,000) $ (476,000) $ 345,182,000 $ 174,353,000
Ending balance, shares at Sep. 30, 2024   10,360,669 5,984,267 64,404