v3.25.2
Subsequent Events
 6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q. The following activity took place subsequent to June 30, 2025.
Common Shares 
Subsequent to June 30, 2025, and in connection with the Company’s continuous private offering, the Company issued shares of its Class G common stock, Class G-D common stock and Class G-S common stock.
These offers and sales of the Class G common stock, Class G-D common stock and Class G-S common stock were exempt from the registration provisions of the Securities Act, by virtue of Section 4(a)(2) and Regulation D thereunder.
The following table details the shares issued between July 1, 2025 and August 7, 2025:
(in thousands, except share amounts)Common SharesDRIP
Title of SecuritiesNumber of Shares SoldAggregate ConsiderationNumber of Shares SoldAggregate Consideration
Class G Common Stock617,545$15,630 7,102$180 
Class G-D Common Stock232,6635,8587,471188
Class G-S Common Stock380,3299,67558915
Class E Common Stock6,600165——
Total1,237,137$31,328 15,162$383 
Distributions Declared
The following table summarizes subsequent payments related to distributions on common stock declared by the Board as of the record dates noted. Net distributions paid (after any servicing fees) from July 1, 2025 through August 7, 2025 were $0.5 million, and were paid in cash or reinvested in the applicable class of common stock for stockholders participating in the Company’s distribution reinvestment plan.
 
Record DateDeclaration DatePayment DateDistributions Per ShareShare Class
June 30, 2025June 24, 2025July 16, 2025$0.1667 G, G-D, G-S
July 31, 2025June 24, 2025August 15, 2025$0.1667 G, G-D, G-S
August 29, 2025June 24, 2025September 15, 2025$0.1667 G, G-D, G-S
 
Repurchase Agreement
On July 30, 2025, the Company, through its indirect wholly-owned subsidiary FBRED REIT WWH Seller, LLC, entered into a Master Repurchase Agreement (the “MRA”) with Wells Fargo Bank, National Association. The MRA provides up to $150 million of advances. The initial maturity date of the MRA is July 30, 2027, which may be extended for up to three years.