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Condensed Consolidated Statement of Changes in Equity (Unaudited) - USD ($)
$ in Thousands
Total
Preferred Equity
Common Stock
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Total Stockholders' Equity
Non-Controlling Interest
Non-Controlling Interest
Preferred Equity
Redeemable non-controlling interest
Beginning Balance at Dec. 31, 2022 $ 128,291   $ 18 $ 31,367 $ (815) $ 30,570 $ 97,721    
Beginning Balance, Shares at Dec. 31, 2022     1,824            
Shares issued, value 60,227   $ 30 60,197   60,227      
Shares issued, shares     3,006            
Offering costs (83)     (83)   (83)      
Contributions from non-controlling interests 156           156    
Net income 683       335 335 348    
Ending Balance at Mar. 31, 2023 189,274   $ 48 91,481 (480) 91,049 98,225    
Ending Balance, Shares at Mar. 31, 2023     4,830            
Beginning Balance at Dec. 31, 2023 542,876   $ 220 438,432 2,681 441,333 101,543   $ 967
Beginning Balance, Shares at Dec. 31, 2023     21,943            
Shares issued, value 89,566 $ 125 $ 43 89,523   89,566   $ 125 831
Shares issued, shares     4,328            
Amortization of restricted stock grants 25     25   25      
Offering costs (355)     (355)   (355)      
Distribution reinvestments, value 2,124     944   944 1,180   20
Distribution reinvestments, shares     45            
Net income 9,636               31
Net Income 9,605       7,939 7,939 1,666    
Share class transfer, shares     25            
Repurchase of common stock (154)     (154)   (154)      
Repurchase of common stock, shares     (7)            
Distributions to non-controlling interest (1,284)           (1,284)   (25)
Distributions declared on common stock (6,281)       (6,281) (6,281)      
Ending Balance at Mar. 31, 2024 $ 636,247   $ 263 $ 528,415 $ 4,339 $ 533,017 $ 103,230   $ 1,824
Ending Balance, Shares at Mar. 31, 2024     26,334