Equity (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Schedule of shares issued and gross proceeds for each class

The following table summarizes shares issued and gross proceeds for each share class as of September 30, 2017 and outstanding shares as of September 30, 2017 and December 31, 2016:

	Class T		Class S		Class D		Class I		Class A			Class AA			Class AAA		Total
Gross proceeds from primary portion of offerings	$	3	$	3	$	3	$	2,493	$	240,780		$	474,858		$	8,379	$	726,519
Gross proceeds from DRP	$	—	$	—	$	—	$	4	$	17,860		$	18,178		$	250	$	36,292
Shares issued in primary portion of offerings	264		264		264		263,200		24,199,760			47,562,870			901,225		72,927,847
DRP shares issued	—		—		—		418		1,888,742			1,929,510			26,620		3,845,290
Stock distribution shares issued	—		—		—		—		263,641			300,165			4,677		568,483
Restricted stock units issued	—		—		—		—		—			—			25,500		25,500
Total redemptions	—		—		—		—		(415,143		)	(166,141		)	—		(581,284		)
Total Shares outstanding as of 9/30/2017	264		264		264		263,618		25,937,000			49,626,404			958,022		76,785,836
Total Shares outstanding as of 12/31/2016	—		—		—		—		25,562,982			44,595,631			781,034		70,939,647

Organizational and offering costs incurred

Organizational and offering costs incurred as of September 30, 2017, including those incurred by the Company and due to the Advisor, for the Follow-On Offering are as follows:

	September 30, 2017
Cumulative offering costs	$	1,196
Cumulative organizational costs	$	287
Organizational and offering costs advanced by the Advisor	$	990
Organizational and offering costs paid by the Company	493
Adjustment to organizational and offering costs pursuant to the limitation:
Reduction in due to affiliates	(740		)
Due from affiliates	(368		)
Net due to Advisor	$	375

Schedule of stock redeemed

During the three and nine months ended September 30, 2017 and 2016, the Company redeemed shares of its outstanding common stock as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
Period	2017		2016		2017		2016
Shares of common stock redeemed	146,083		128,049		413,842		147,553
Weighted average price per share	$	9.06	$	9.71	$	9.18	$	9.73

Share redemption price

The redemption price per IPO Share is expected to be the redemption rate set forth in the following table which is based upon the number of years the stock is held:

Number Years Held	Redemption Price per IPO Share
Less than 1 year	No Redemption Allowed
After one year from the purchase date	90.0% of the Redemption Amount (as defined below)
After two years from the purchase date	95.0% of the Redemption Amount
After three years from the purchase date	97.5% of the Redemption Amount
After four years from the purchase date	100.0% of the Redemption Amount