Transactions with Related Parties - Additional Information (Details) - USD ($) |
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2018 |
Mar. 31, 2017 |
Dec. 31, 2017 |
|
Related Party Transaction [Line Items] | |||
Proceeds from issuance of common stock | $ 20,148,422 | $ 2,612,634 | |
Common stock, shares, issued | 2,476,245 | 1,733,392 | |
Class P Common Stock | |||
Related Party Transaction [Line Items] | |||
Proceeds from issuance of common stock | $ 18,573,040 | ||
Advisor | Class P Common Stock | |||
Related Party Transaction [Line Items] | |||
Proceeds from issuance of common stock | $ 1,000,000 | ||
Common stock, shares, issued | 40,040 | ||
Common stock, purchase price per share | $ 25.00 | ||
Payment of selling commissions | $ 0 | ||
Payment of dealer manager fees | 0 | ||
Payment of organization and offering expenses | $ 0 | ||
Subscription agreement, minimum number of shares to be held | 8,000 | ||
Subscription agreement, value of minimum number of shares to be held | $ 200,000 | ||
Description of subscription agreement | The Advisor has agreed pursuant to its subscription agreement that, for so long as it or its affiliate is serving as the Advisor, (i) it will not sell or transfer at least 8,000 of the Class P Shares that it has purchased, accounting for $200,000 of its investment, to an unaffiliated third party; (ii) it will not be eligible to submit a request for these 40,040 Class P Shares pursuant to the Company’s share repurchase program prior to the fifth anniversary of the date on which such shares were purchased; and (iii) repurchase requests made for these shares will only be accepted (a) on the last business day of a calendar quarter, (b) after all repurchase requests from all other stockholders for such quarter have been accepted and (c) to the extent that such repurchases do not cause total repurchases in the quarter in which they are being repurchased to exceed that quarter’s repurchase cap | ||
Sub-Advisor | Class P Common Stock | |||
Related Party Transaction [Line Items] | |||
Proceeds from issuance of common stock | $ 3,000,000 | ||
Common stock, shares, issued | 120,000 | ||
Payment of selling commissions | $ 0 | ||
Payment of dealer manager fees | 0 | ||
Payment of organization and offering expenses | $ 0 | ||
Description of subscription agreement | Sound Point has agreed pursuant to its subscription agreement that, for so long as the Sub-Advisor or its affiliate is serving as the Sub-Advisor, (i) it will not be eligible to submit a request for the repurchase of these 120,000 shares pursuant to the Company’s share repurchase program prior to the fifth anniversary of the date on which such shares were purchased; and (ii) repurchase requests made for these shares will only be accepted (a) on the last business day of a calendar quarter, (b) after all repurchase requests from all other stockholders for such quarter have been accepted and (c) to the extent that such repurchases do not cause total repurchases in the quarter in which they are being repurchased to exceed that quarter’s repurchase cap. |