Capital Transactions (Tables)

6 Months Ended

Jun. 30, 2025

Summary of Shares Issued and Proceeds Received in Connection with Private Placement

The following tables summarize the total shares issued and proceeds received by share class in connection with the Public Offerings, excluding shares repurchased through the Share Repurchase Program described further below, for the six months ended June 30, 2025 and 2024 (in thousands except per share data):


	Six Months Ended June 30, 2025
	Proceeds from Public Offerings							Distributions Reinvested			Total
Share Class	Shares Issued	Gross Proceeds		Sales Load(1)		Net Proceeds to Company		Shares Issued	Proceeds to Company		Shares Issued	Net Proceeds to Company		Average Net Proceeds per Share

Class A	14	$	538	$	(42)	$	496	101	$	3,647	115	$	4,143	$	35.96
Class T	242	9,139		(405)		8,734		23	817		265	9,551		36.10
Class D	40	1,415		—		1,415		29	1,027		69	2,442		35.67
Class I	1,475	53,734		—		53,734		138	5,019		1,613	58,753		36.42

	1,771	$	64,826	$	(447)	$	64,379	291	$	10,510	2,062	$	74,889	$	36.33


	Six Months Ended June 30, 2024
	Proceeds from Public Offerings							Distributions Reinvested			Total
Share Class	Shares Issued	Gross Proceeds		Sales Load(1)		Net Proceeds to Company		Shares Issued	Proceeds to Company		Shares Issued	Net Proceeds to Company		Average Net Proceeds per Share

Class A	1,238	$	42,696	$	(926)	$	41,770	72	$	2,427	1,310	$	44,197	$	33.77
Class T	169	6,007		(275)		5,732		26	889		195	6,621		33.82
Class D	305	10,227		—		10,227		27	910		332	11,137		33.56
Class I	1,466	50,219		—		50,219		122	4,174		1,588	54,393		34.25

	3,178	$	109,149	$	(1,201)	$	107,948	247	$	8,400	3,425	$	116,348	$	33.98

FOOTNOTE:

(1)The Company incurs selling commissions and dealer manager fees on the sale of Class A and Class T shares sold through the Public Offerings. See Note 5. “Related Party Transactions” for additional information regarding up-front selling commissions and dealer manager fees.

Summary of Shares Repurchased

The following table summarizes the shares repurchased during the six months ended June 30, 2025 and 2024 (in thousands except per share data):


	Shares Repurchased	Total Consideration		Average Price Paid per Share
Class FA	115	$	4,610	$	39.92
Class A	94	3,430		36.21
Class T	33	1,185		36.29
Class D	108	3,817		35.68
Class I	446	16,293		36.54
Class S	10	422		40.80
Six Months Ended June 30, 2025	806	$	29,757	$	36.92


	Shares Repurchased	Total Consideration		Average Price Paid per Share
Class FA	109	$	4,059	$	36.99
Class A	76	2,536		33.80
Class T	113	3,814		33.76
Class D	49	1,633		33.59
Class I	400	13,737		34.32
Class S	20	777		37.89
Six Months Ended June 30, 2024	767	$	26,556	$	34.62