Cash Distributions Declared, Distributions Reinvested and Distributions Per Share |
The following
table represents total cash distributions declared, distributions
reinvested and distributions per share for the years ended
December 31, 2012 and 2011, respectively:
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Distributions Paid
(3) |
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Periods
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Cash
Distributions
per Share |
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Total Cash
Distributions
Declared (2) |
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Reinvested
via DRP |
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Cash
Distributions
net of
Reinvestment
Proceeds |
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Stock
Distributions
Declared
(Shares) (4) |
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Stock
Distributions
Declared (at
current
offering
price) |
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Total Cash
and Stock
Distributions
Declared(5) |
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2012 Quarter
(1)
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First
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$ |
0.09999 |
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$ |
202,598 |
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$ |
112,295 |
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$ |
90,303 |
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15,196 |
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$ |
151,960 |
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$ |
354,558 |
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Second
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0.09999 |
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557,865 |
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308,872 |
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248,993 |
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41,735 |
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417,350 |
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975,215 |
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Third
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0.09999 |
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984,050 |
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532,724 |
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451,326 |
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73,911 |
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739,110 |
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1,723,160 |
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Fourth
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0.09999 |
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1,452,887 |
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785,006 |
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667,881 |
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108,943 |
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1,089,430 |
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2,542,317 |
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Year
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$ |
0.39996 |
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$ |
3,197,400 |
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$ |
1,738,897 |
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$ |
1,458,503 |
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239,785 |
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$ |
2,397,850 |
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$ |
5,595,250 |
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Distributions Paid
(3) |
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Periods
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Cash
Distributions
per Share |
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Total Cash
Distributions
Declared (2) |
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Reinvested
via DRP |
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Cash
Distributions
net of
Reinvestment
Proceeds |
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Stock
Distributions
Declared
(Shares) (4) |
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Stock
Distributions
Declared (at
current
offering
price) |
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Total Cash
and Stock
Distributions
Declared(5) |
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2011 Quarter
(1)
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First
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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— |
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$ |
— |
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$ |
— |
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Second
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Third
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Fourth
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0.06666 |
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55,892 |
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27,667 |
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28,225 |
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4,180 |
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41,800 |
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97,692 |
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Year
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$ |
0.06666 |
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$ |
55,892 |
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$ |
27,667 |
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$ |
28,225 |
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4,180 |
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$ |
41,800 |
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$ |
97,692 |
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FOOTNOTES:
(1) |
The Company commenced
operations on October 5, 2011, as such there were no
distributions declared during the first three quarters of
2011. |
(2) |
For the year ended
December 31, 2012 cash distributions paid to stockholders were
100% funded with proceeds from the Company’s Offering. For
the year ended December 31, 2012, 100% of the cash
distributions paid to stockholders are expected to be considered a
return of capital to stockholders for federal income tax purposes.
Whereas, for the year ended December 31, 2011, approximately
1.9% of the cash distributions paid to stockholders were considered
taxable income and 98.1% were considered a return of capital to
stockholders for federal income tax purposes. |
(3) |
Represents the amount of
cash used to fund distributions and the amount of distributions
paid which were reinvested in additional shares through the
Company’s distribution reinvestment plan. |
(4) |
The distribution of new
common shares to the recipients is non-taxable. Stock distributions
may cause the interest of later investors in our stock to be
diluted as a result of the stock issued to earlier
investors. |
(5) |
Based on the current
offering price of $10.00, stock distributions declared represented
approximately 43% of the total value of distributions declared and
cash distributions declared represented approximately 57% of the
total value of distributions declared. |
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