Dividends and Distributions (Tables)

9 Months Ended

Sep. 30, 2024

Dividends and Distributions [Abstract]

Schedule of Dividend Declarations and Distributions

The following table summarizes the Company’s dividend declarations and distributions during the nine months ended September 30, 2024 (since IPO):

Date Declared	Record Date	Payment Date	Amount Per Share		Cash Distribution		DRIP Shares Issued		DRIP Shares Value
3/20/2024	3/28/2024	4/10/2024	$	0.49	$	12,893,635		185,345	$		3,057,234	(1)
5/7/2024	6/28/2024	7/16/2024	$	0.42	$	11,093,012		157,231	$		2,585,298	(2)
6/20/2024	6/28/2024	7/16/2024	$	0.05	$	1,320,596		18,718	$		307,774	(2)
8/7/2024	9/27/2024	10/14/2024	$	0.42	$	13,702,071	-		$	-		(3)
9/23/2024	9/27/2024	10/14/2024	$	0.05	$	1,631,199	-		$	-		(3)

(1)In accordance with the Company’s dividend reinvestment plan, 149,382 shares of the Company’s stock were purchased in the open market at an average price of $16.49. The Company issued the remaining 35,963 shares of common stock at the average open market price and shares were allocated to stockholders of the Company participating in the dividend reinvestment plan.

(2)In accordance with the Company's dividend reinvestment plan, 110,540 shares of the Company's stock were purchased in the open market at an average price of $16.44. The Company issued the remaining 65,409 shares of common stock at the average open market price and shares were allocated to stockholders of the Company participating in the dividend reinvestment plan.

(3)Refer to Note 12 for dividend reinvestment activity post quarter-end.