v3.25.2
Shareholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Outstanding Redeemable Common Shares

The following tables detail the movement of and net proceeds received from the Company’s outstanding common shares for the three and six months ended June 30, 2025 and 2024 (dollars in thousands except share amounts):

 

Class S
Common Shares

 

Class I
Common Shares

 

Total

 

Shares outstanding as of March 31, 2025

 

5,566,962

 

 

4,321,249

 

 

9,888,211

 

Common shares issued

 

603,392

 

 

523,782

 

 

1,127,174

 

DRIP shares issued

 

74,704

 

 

49,945

 

 

124,649

 

Common shares repurchased

 

(6,419

)

 

(6,238

)

 

(12,657

)

Shares outstanding as of June 30, 2025

 

6,238,639

 

 

4,888,738

 

 

11,127,377

 

 

 

 

 

 

 

Proceeds from issuance of common shares

$

13,744

 

$

11,546

 

$

25,290

 

 

 

Class S
Common Shares

 

Class I
Common Shares

 

Total

 

Shares outstanding as of March 31, 2024

 

1,969,181

 

 

868,544

 

 

2,837,725

 

Common shares issued

 

1,830,698

 

 

1,842,452

 

 

3,673,150

 

DRIP shares issued

 

30,581

 

 

18,603

 

 

49,184

 

Shares outstanding as of June 30, 2024

 

3,830,460

 

 

2,729,599

 

 

6,560,059

 

 

 

 

 

 

 

Proceeds from issuance of common shares

$

37,603

 

$

37,269

 

$

74,872

 

 

 

Class S
Common Shares

 

Class I
Common Shares

 

Total

 

Shares outstanding as of December 31, 2024

 

5,064,764

 

 

3,823,418

 

 

8,888,182

 

Common shares issued

 

1,043,901

 

 

977,947

 

 

2,021,848

 

DRIP shares issued

 

136,393

 

 

93,611

 

 

230,004

 

Common shares repurchased

 

(6,419

)

 

(6,238

)

 

(12,657

)

Shares outstanding as of June 30, 2025

 

6,238,639

 

 

4,888,738

 

 

11,127,377

 

 

 

 

 

 

 

Proceeds from issuance of common shares

$

23,895

 

$

21,520

 

$

45,415

 

 

 

Class S
Common Shares

 

Class I
Common Shares

 

Total

 

Shares outstanding as of December 31, 2023

 

259,750

 

 

67,050

 

 

326,800

 

Common shares issued

 

3,530,004

 

 

2,641,010

 

 

6,171,014

 

DRIP shares issued

 

40,706

 

 

21,539

 

 

62,245

 

Shares outstanding as of June 30, 2024

 

3,830,460

 

 

2,729,599

 

 

6,560,059

 

 

 

 

 

 

 

Proceeds from issuance of common shares

$

72,226

 

$

53,325

 

$

125,551

 
Schedule of Distributions Declared

The following table details the aggregate distributions declared for Class S and Class I common shares for the three and six months ended June 30, 2025 and 2024:

 

 

For the Three Months Ended
June 30, 2025

 

For the Six Months Ended
June 30, 2025

 

 

 

Class S Common Shares

 

Class I Common Shares(1)

 

Class S Common Shares

 

Class I Common Shares(1)

 

Aggregate gross distributions declared per common share

 

$

0.4680

 

$

0.4680

 

$

0.8688

 

$

0.8688

 

Shareholder servicing fee per common share

 

 

(0.0427

)

 

—

 

 

(0.0848

)

 

—

 

Net distributions declared per common share

 

$

0.4253

 

$

0.4680

 

$

0.7840

 

$

0.8688

 

 

 

 

For the Three Months Ended
June 30, 2024

 

For the Six Months Ended
June 30, 2024

 

 

 

Class S Common Shares

 

Class I Common Shares(1)

 

Class S Common Shares

 

Class I Common Shares(1)

 

Aggregate gross distributions declared per common share

 

$

0.3876

 

$

0.3876

 

$

0.7752

 

$

0.7752

 

Shareholder servicing fee per common share

 

 

(0.0428

)

 

—

 

 

(0.0851

)

 

—

 

Net distributions declared per common share

 

$

0.3448

 

$

0.3876

 

$

0.6901

 

$

0.7752

 

__________________

(1)
There is no shareholder servicing fee with respect Class I shares. Refer to Note 10 – “Related Party Transactions” below for further information on shareholder servicing fees.