v3.26.1
Distributions
 3 Months Ended
Mar. 31, 2026
Dividends [Abstract]  
Distributions Distributions
The Company’s distributions to stockholders are recorded on the applicable record date. The following table summarizes the distributions declared and paid during the three months ended March 31, 2026 and 2025:
Date
Declared		Record
Date
Payment
Date (1)
Dividend
Type 		Amount
Per
Share		Distribution
Declared
Three months ended March 31, 2026
January 22, 2026January 23, 2026January 28, 2026Regular$0.075 $21,853 
February 20, 2026February 23, 2026February 25, 2026Regular0.075 22,123 
March 20, 2026March 23, 2026March 26, 2026Regular0.071 20,140 
Total distributions declared$0.221 $64,116 
Three months ended March 31, 2025
January 9, 2025January 15, 2025March 31, 2025Regular$0.090 $17,883 
January 9, 2025February 14, 2025March 31, 2025Regular0.090 17,883 
January 9, 2025March 14, 2025March 31, 2025Regular0.090 17,884 
Total distributions declared$0.270 $53,650 
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(1)The portion of the Company’s distribution that is to be reinvested pursuant to the DRIP is issued to the Company’s stockholders on the payment date.
The following tables summarize the Company’s distributions reinvested during the three months ended March 31, 2026 and 2025:
Payment DateNAV
Per Share		DRIP
Shares
Issued		DRIP
Shares
Value
Three months ended March 31, 2026
January 28, 2026$9.871,004,149$9,911 
February 25, 2026$9.871,016,87510,037
March 26, 2026$9.80918,6999,003
Total distributions reinvested2,939,723$28,951 
Payment Date (1)
NAV
Per Share		DRIP
Shares
Issued		DRIP
Shares
Value
Three months ended March 31, 2025
March 31, 2025$10.372,292,918$23,777 
Total distributions reinvested 2,292,918$23,777 
(1)The Company began monthly closings for its private offering in October 2025, and pursuant to the Second Amended and Restated DRIP, the Board intends to declare monthly distributions, and as a result, the 2025 period reflects the quarterly distributions declared at that time.
The Company has adopted a DRIP that provides for the reinvestment of dividends and other distributions on behalf of its stockholders that elect to participate in such plan. When the Company declares a dividend or distribution, the Company’s stockholders’ cash distributions will only be reinvested in additional shares of the Company’s common stock if a stockholder specifically “opts in” to the DRIP at least ten (10) days prior to the record date fixed by the Board. Shares issued under the DRIP were issued at a price per share equal to the NAV per share as of the last day of the Company’s fiscal quarter immediately preceding the date that the distribution was declared.
On November 4, 2025, the Board approved the second amended and restated dividend reinvestment plan (the "Second Amended and Restated DRIP"), which amended the price per share used for distributions reinvested to be the most recent NAV per share as of the most recent effective date on which shares are issued to our investors in a closing of a private offering immediately preceding the payment date of such distribution in order to better align with monthly share issuances.