| Schedule of Company's Authorized Capital |
As of December 31, 2024, the Company had the authority to issue 3,100,000,000 shares of capital stock, consisting of the following:
|
|
|
|
|
|
|
|
|
|
Classification |
|
Number of
Shares |
|
|
Par Value |
|
Preferred Stock |
|
|
100,000,000 |
|
|
$ |
|
0.01 |
|
Class T Shares |
|
|
500,000,000 |
|
|
$ |
|
0.01 |
|
Class S Shares |
|
|
1,000,000,000 |
|
|
$ |
|
0.01 |
|
Class D Shares |
|
|
500,000,000 |
|
|
$ |
|
0.01 |
|
Class I Shares |
|
|
1,000,000,000 |
|
|
$ |
|
0.01 |
|
Total |
|
|
3,100,000,000 |
|
|
|
|
|
|
| Schedule of Common Stock Outstanding shares |
The following table details the movement in the Company’s outstanding shares of common stock:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class T |
|
|
Class S |
|
|
Class D |
|
|
Class I |
|
|
Total |
|
January 1, 2022 |
|
|
4,648,436 |
|
|
|
154,381,036 |
|
|
|
22,142,299 |
|
|
|
163,624,500 |
|
|
|
344,796,271 |
|
Common stock shares issued (1) |
|
|
1,112,055 |
|
|
|
80,943,605 |
|
|
|
10,500,831 |
|
|
|
109,276,249 |
|
|
|
201,832,740 |
|
Distribution reinvestment plan shares issued |
|
|
125,187 |
|
|
|
3,647,656 |
|
|
|
720,473 |
|
|
|
3,664,723 |
|
|
|
8,158,039 |
|
Common stock shares repurchased |
|
|
(164,182 |
) |
|
|
(14,415,387 |
) |
|
|
(2,389,430 |
) |
|
|
(32,146,156 |
) |
|
|
(49,115,155 |
) |
Independent directors’ restricted stock grant(2) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35,697 |
|
|
|
35,697 |
|
December 31, 2022 |
|
|
5,721,496 |
|
|
|
224,556,910 |
|
|
|
30,974,173 |
|
|
|
244,455,013 |
|
|
|
505,707,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock shares issued (1) |
|
|
(98,898 |
) |
|
|
4,915,057 |
|
|
|
(153,390 |
) |
|
|
14,803,271 |
|
|
|
19,466,040 |
|
Distribution reinvestment plan shares issued |
|
|
141,944 |
|
|
|
3,788,883 |
|
|
|
335,712 |
|
|
|
3,849,211 |
|
|
|
8,115,750 |
|
Common stock shares repurchased |
|
|
(482,517 |
) |
|
|
(38,237,234 |
) |
|
|
(3,643,944 |
) |
|
|
(60,147,804 |
) |
|
|
(102,511,499 |
) |
Independent directors’ restricted stock grant(2) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,361 |
|
|
|
30,361 |
|
December 31, 2023 |
|
|
5,282,025 |
|
|
|
195,023,616 |
|
|
|
27,512,551 |
|
|
|
202,990,052 |
|
|
|
430,808,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock shares issued (1) |
|
|
(230,764 |
) |
|
|
209,158 |
|
|
|
293,126 |
|
|
|
9,457,765 |
|
|
|
9,729,285 |
|
Distribution reinvestment plan shares issued |
|
|
142,951 |
|
|
|
3,660,648 |
|
|
|
500,536 |
|
|
|
3,204,529 |
|
|
|
7,508,664 |
|
Common stock shares repurchased |
|
|
(138,567 |
) |
|
|
(17,502,181 |
) |
|
|
(2,378,099 |
) |
|
|
(26,288,430 |
) |
|
|
(46,307,277 |
) |
Independent directors’ restricted stock grant(2) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
33,797 |
|
|
|
33,797 |
|
December 31, 2024 |
|
|
5,055,645 |
|
|
|
181,391,241 |
|
|
|
25,928,114 |
|
|
|
189,397,713 |
|
|
|
401,772,713 |
|
__________ (1)Includes exchanges between share classes. (2)The independent directors’ restricted stock grant represents $0.8 million, $0.8 million and $0.8 million of the annual compensation paid to the independent directors for the years ended December 31, 2024, 2023 and 2022, respectively. Each grant is amortized over the one-year service period of such grant.
|
| Schedule of Redeemable Noncontrolling Interest Activity |
The following table details the redeemable non-controlling interests activity related to the Special Limited Partner and third-party Operating Partnership unitholders for the years ended December 31, 2024 and 2023 ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Special Limited Partner(1) |
|
|
Third-party Operating Partnership unitholders |
|
|
Total |
|
Balance at December 31, 2022 |
|
$ |
238,322 |
|
|
$ |
188,777 |
|
|
$ |
427,099 |
|
Settlement of performance participation allocation |
|
|
102,348 |
|
|
|
— |
|
|
|
102,348 |
|
Repurchases |
|
|
— |
|
|
|
(620 |
) |
|
|
(620 |
) |
GAAP loss allocation |
|
|
(18,753 |
) |
|
|
(10,412 |
) |
|
|
(29,165 |
) |
Distributions |
|
|
(16,065 |
) |
|
|
(8,895 |
) |
|
|
(24,960 |
) |
Fair value allocation |
|
|
(10,160 |
) |
|
|
(4,680 |
) |
|
|
(14,840 |
) |
Balance at December 31, 2023 |
|
$ |
295,692 |
|
|
$ |
164,170 |
|
|
$ |
459,862 |
|
Settlement of performance participation allocation |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Conversion to Class I shares |
|
|
— |
|
|
|
(1,144 |
) |
|
|
(1,144 |
) |
GAAP loss allocation |
|
|
(23,306 |
) |
|
|
(12,791 |
) |
|
|
(36,097 |
) |
Distributions |
|
|
(16,065 |
) |
|
|
(8,835 |
) |
|
|
(24,900 |
) |
Fair value allocation |
|
|
24,551 |
|
|
|
12,606 |
|
|
|
37,157 |
|
Balance at December 31, 2024 |
|
$ |
280,872 |
|
|
$ |
154,006 |
|
|
$ |
434,878 |
|
(1)Includes units transferred to Barry S. Sternlicht, which are deemed to be beneficially owned by Mr. Sternlicht.
|