Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2025

Stockholders' Equity Note [Abstract]

Summary of Shareholder Transactions in Common Shares

The following table summarizes shareholder transactions in common shares during the three months ended June 30, 2025:

	Series I						Series II				Total
	Shares			Consideration Amount			Shares		Consideration Amount		Shares			Consideration Amount
A-I Shares:
Proceeds from issuance of shares	$	341,509		$	8,670		$	466,965	$	11,930	$	808,474		$	20,600
Shares issued under DRIP		-			-			216		5		216			5
Shares repurchased or exchanged		(3,945	)		(100	)		-		-		(3,945	)		(100	)
Net increase (decrease)	$	337,564		$	8,570		$	467,181	$	11,935	$	804,745		$	20,505
BD Shares:
Proceeds from issuance of shares	$	-		$	-		$	122,331	$	3,163	$	122,331		$	3,163
Shares issued under DRIP		-			-			-		-		-			-
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	-		$	-		$	122,331	$	3,163	$	122,331		$	3,163
E Shares:
Proceeds from issuance of shares	$	96		$	2		$	6,039	$	152	$	6,135		$	154
Shares issued under DRIP		76			2			2,325		59		2,401			61
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	172		$	4		$	8,364	$	211	$	8,536		$	215
F-I Shares:
Proceeds from issuance of shares	$	843,128		$	21,527		$	2,487,400	$	63,981	$	3,330,528		$	85,508
Shares issued under DRIP		5,747			146			8,746		224		14,493			370
Shares repurchased or exchanged		(39,714	)		(1,012	)		-		-		(39,714	)		(1,012	)
Net increase (decrease)	$	809,161		$	20,661		$	2,496,146	$	64,205	$	3,305,307		$	84,866
F-S Shares:
Proceeds from issuance of shares	$	-		$	-		$	-	$	-	$	-		$	-
Shares issued under DRIP		-			-			-		-		-			-
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	-		$	-		$	-	$	-	$	-		$	-
I Shares:
Proceeds from issuance of shares	$	-		$	-			102,311	$	2,642		102,311		$	2,642
Shares issued under DRIP		-			-			-		-		-			-
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	-		$	-			102,311	$	2,642		102,311		$	2,642
P-I Shares:
Proceeds from issuance of shares	$	-		$	-		$	38,238	$	1,000	$	38,238		$	1,000
Shares issued under DRIP		-			-			74		2		74			2
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	-		$	-		$	38,312	$	1,002	$	38,312		$	1,002
P-S Shares:
Proceeds from issuance of shares	$	165,332		$	4,160		$	1,064,897	$	27,510	$	1,230,229		$	31,670
Shares issued under DRIP		-			-			22,640		584		22,640			584
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	165,332		$	4,160		$	1,087,537	$	28,094	$	1,252,869		$	32,254
T-I Shares:
Proceeds from issuance of shares	$	602,919		$	15,530		$	1,364,919	$	35,538	$	1,967,838		$	51,068
Shares issued under DRIP		10,269			264			8,807		228		19,076			492
Shares repurchased or exchanged		(4,460	)		(115	)		-		-		(4,460	)		(115	)
Net increase (decrease)	$	608,728		$	15,679		$	1,373,726	$	35,766	$	1,982,454		$	51,445
T-S Shares:
Proceeds from issuance of shares	$	624,815		$	16,092		$	1,450,410	$	37,568	$	2,075,225		$	53,660
Shares issued under DRIP		6,835			176			10,361		268		17,196			444
Shares repurchased or exchanged		(112,189	)		(2,893	)		-		-		(112,189	)		(2,893	)
Net increase (decrease)	$	519,461		$	13,375		$	1,460,771	$	37,836	$	1,980,232		$	51,211
V Shares:
Proceeds from issuance of shares	$	-		$	-		$	-	$	-	$	-		$	-
Shares issued under DRIP		-			-			-		-		-			-
Shares repurchased or exchanged		-			-			-		-		-			-
Net increase (decrease)	$	-		$	-		$	-	$	-	$	-		$	-
Total net increase (decrease)	$	2,440,418		$	62,449		$	7,156,679	$	184,854	$	9,597,097		$	247,303

The following table summarizes shareholder transactions in common shares during the six months ended June 30, 2025:

	Series I						Series II						Total
	Shares			Consideration Amount			Shares			Consideration Amount			Shares			Consideration Amount
A-I Shares:
Proceeds from issuance of shares	$	727,761		$	18,435		$	1,100,971		$	28,087		$	1,828,732		$	46,522
Shares issued under DRIP		-			-			483			12			483			12
Shares repurchased or exchanged		(3,945	)		(100	)		(19,818	)		(499	)		(23,763	)		(599	)
Net increase (decrease)	$	723,816		$	18,335		$	1,081,636		$	27,600		$	1,805,452		$	45,935
BD Shares:
Proceeds from issuance of shares	$	-		$	-		$	122,331		$	3,163		$	122,331		$	3,163
Shares issued under DRIP		-			-			-		$	-			-			0
Shares repurchased or exchanged		-			-			-		$	-			-			0
Net increase (decrease)	$	-		$	-		$	122,331		$	3,163		$	122,331		$	3,163
E Shares:
Proceeds from issuance of shares	$	2,136		$	54		$	20,271		$	510		$	22,407		$	564
Shares issued under DRIP		100			3			6,989			175			7,089			178
Shares repurchased or exchanged		(1,359	)		(35.00	)		-			-			(1,359	)		(35	)
Net increase (decrease)	$	877		$	22		$	27,260		$	685		$	28,137		$	707
F-I Shares:
Proceeds from issuance of shares	$	1,211,140		$	30,943		$	4,390,303		$	112,560		$	5,601,443		$	143,503
Shares issued under DRIP		9,931			252			13,059			333			22,990			585
Shares repurchased or exchanged		(173,364	)		(4,396	)		-			-			(173,364	)		(4,396	)
Net increase (decrease)	$	1,047,707		$	26,799		$	4,403,362		$	112,893		$	5,451,069		$	139,692
F-S Shares:
Proceeds from issuance of shares	$	-		$	-		$	-		$	-		$	-		$	-
Shares issued under DRIP		-			-			-			-			-			-
Shares repurchased or exchanged		-			-			-			-			-			-
Net increase (decrease)	$	-		$	-		$	-		$	-		$	-		$	-
I Shares:
Proceeds from issuance of shares	$	-		$	-		$	102,311		$	2,642		$	102,311		$	2,642
Shares issued under DRIP		-			-			-			-			-			-
Shares repurchased or exchanged		-			-			-			-			-			-
Net increase (decrease)	$	-		$	-		$	102,311		$	2,642		$	102,311		$	2,642
P-I Shares:
Proceeds from issuance of shares	$	-		$	-		$	49,032		$	1,280		$	49,032		$	1,280
Shares issued under DRIP		-			-			88			2			88			2
Shares repurchased or exchanged		-			-			-			-			-			-
Net increase (decrease)	$	-		$	-		$	49,120		$	1,282		$	49,120		$	1,282
P-S Shares:
Proceeds from issuance of shares	$	165,332		$	4,160		$	2,895,995		$	74,482		$	3,061,327		$	78,642
Shares issued under DRIP		-			-			29,740			765			29,740			765
Shares repurchased or exchanged		-			-			-			-			-			-
Net increase (decrease)	$	165,332		$	4,160		$	2,925,735		$	75,247		$	3,091,067		$	79,407
T-I Shares:
Proceeds from issuance of shares	$	956,997		$	24,666		$	2,025,608		$	52,603		$	2,982,605		$	77,269
Shares issued under DRIP		14,454			371			11,230			290			25,684			661
Shares repurchased or exchanged		(12,288	)		(316	)		(1,943	)		(50	)		(14,231	)		(366	)
Net increase (decrease)	$	959,163		$	24,721		$	2,034,895		$	52,843		$	2,994,058		$	77,564
T-S Shares:
Proceeds from issuance of shares	$	1,368,788		$	35,191		$	3,559,737		$	91,820		$	4,928,525		$	127,011
Shares issued under DRIP		9,493			243			11,873			306			21,366			549
Shares repurchased or exchanged		(312,230	)		(8,007	)		(985	)		(25	)		(313,215	)		(8,032	)
Net increase (decrease)	$	1,066,051		$	27,427		$	3,570,625		$	92,101		$	4,636,676		$	119,528
V Shares:
Proceeds from issuance of shares	$	-		$	-		$	-		$	-		$	-		$	-
Shares issued under DRIP		-			-			-			-			-			-
Shares repurchased or exchanged		-			-			-			-			-			-
Net increase (decrease)	$	-		$	-		$	-		$	-		$	-		$	-
Total net increase (decrease)	$	3,962,946		$	101,464		$	14,317,275		$	368,456		$	18,280,221		$	469,920

The following table summarizes shareholder transactions in common shares during the six months ended June 30, 2024:

	Series I				Series II				Total
	Shares		Consideration Amount		Shares		Consideration Amount		Shares		Consideration Amount
A-I Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		110		3		110		3		220		6
Net increase (decrease)		110		3		110		3		220		6
Balance as of June 30, 2024	$	110	$	3	$	110	$	3	$	220	$	6
E Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		-		-		2,000,000		50,000		2,000,000		50,000
Net increase (decrease)		-		-		2,000,000		50,000		2,000,000		50,000
Balance as of June 30, 2024	$	-	$	-	$	2,000,000	$	50,000	$	2,000,000	$	50,000
F-I Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		110		3		110		3		220		6
Net increase (decrease)		110		3		110		3		220		6
Balance as of June 30, 2024	$	110	$	3	$	110	$	3	$	220	$	6
F-S Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		110		3		110		3		220		6
Net increase (decrease)		110		3		110		3		220		6
Balance as of June 30, 2024	$	110	$	3	$	110	$	3	$	220	$	6
P-I Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		110		3		110		3		220		6
Net increase (decrease)		110		3		110		3		220		6
Balance as of June 30, 2024	$	110	$	3	$	110	$	3	$	220	$	6
P-S Shares:
Balance as of December 31, 2023	$	-	$	-	$	-	$	-	$	-	$	-
Proceeds from issuance of shares		110		2		110		2		220		4
Net increase (decrease)		110		2		110		2		220		4
Balance as of June 30, 2024	$	110	$	2	$	110	$	2	$	220	$	4
V Shares:
Balance as of December 31, 2023	$	40	$	1	$	40	$	1	$	80	$	2
Proceeds from issuance of shares		-		-		-		-		-		-
Net increase (decrease)		-		-		-		-		-		-
Balance as of June 30, 2024	$	40	$	1	$	40	$	1	$	80	$	-
Total net increase (decrease)	$	550	$	14	$	2,000,550	$	50,014	$	2,001,100	$	50,028

Summary of Distributions Declared

The following table reflects the aggregate distributions declared for each applicable share type of the Company for the three months ended June 30, 2025:

	Series I		Series II		Total
	Distributions declared		Distributions declared		Distributions declared
A-I Shares:	$	503	$	960	$	1,463
BD Shares:	-			18		18
E Shares:		3		1,185		1,188
F-I Shares:		760		2,581		3,341
F-S Shares:	-		-		-
I Shares:	-			13		13
P-I Shares:	-			12		12
P-S Shares:		75		2,260		2,335
T-I Shares:		837		901		1,738
T-S Shares:		636		1,518		2,154
Total Distributions Declared:	$	2,814	$	9,448	$	12,262

The following table reflects the aggregate distributions declared for each applicable share type of the Company for the six months ended June 30, 2025:

	Series I		Series II		Total
	Distributions declared		Distributions declared		Distributions declared
A-I Shares:	$	765	$	1,399	$	2,164
BD Shares:	-			18		18
E Shares:		5		2,029		2,034
F-I Shares:		1,055		3,631		4,686
F-S Shares:	-		-		-
I Shares:	-			13		13
P-I Shares:	-			14		14
P-S Shares:		76		3,270		3,346
T-I Shares:		1,193		1,159		2,352
T-S Shares:		918		2,010		2,928
Total Distributions Declared:	$	4,012	$	13,543	$	17,555