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Stockholders' Equity
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Stockholders' Equity

Note 6 – Stockholders’ Equity

During the three-months ended March 31, 2019, pursuant to a private offering that commenced on October 25, 2016 (the “Offering”), the Company issued 1,583,864 shares of Class P common stock (“Class P Shares”) at an average price of $26.94 per share with total

net proceeds of $39,656 after offering costs of $3,024. In addition, the Company incurred $112 in reimbursable deferred offering costs that are payable to the Advisor and Sub-Advisor from future stock issuances.

During the three-months ended March 31, 2018, the Company issued 742,853 Class P Shares at an average price of $27.12 per share with total net proceeds of $18,572 after offering costs of $1,575. In addition, the Company incurred $122 in reimbursable deferred offering costs that are payable to the Advisor and Sub-Advisor from future stock issuance.

 

Distributions

The Company currently pays distributions on Class P Shares based on daily record dates, payable in arrears the following month, equal to a daily amount of 1/365th of $1.92 per share. The table below presents the distributions paid and declared during the three-months ended March 31, 2019 and 2018.

 

 

 

 

Three-months ended March 31,

 

 

 

2019

 

 

2018

 

Distributions paid

 

$

2,922

 

 

$

882

 

Distributions declared

 

$

3,170

 

 

$

1,008

 

As of March 31, 2019 and December 31, 2018 distributions declared but not yet paid amounted to $1,189 and 941, respectively.