v3.22.2.2

Internalization (Tables) | 9 Months Ended
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Sep. 30, 2022
Internalization [Abstract] |
Summary of Earnout Tranches, Applicable VWAP of REIT Share and Applicable Earnout Periods | As of December 31, 2021, the Company achieved all four VWAP milestones, thereby triggering the payout of all earnout tranches. Below is a summary of the shares of common stock and OP Units issued, and cash paid for each earnout tranche:
(in thousands, except per share amounts)
|  | Shares of |  |  |  |  |  |  |  |  | 40-Day |  |  |
|  | Common Stock |  |  | OP Units |  |  |  |  |  | VWAP of a |  |  |
Tranche |  | Issued |  |  | Issued |  |  | Cash Paid |  |  | REIT Share |  |  | Achievement Date
1 |  |  | 145 |  |  |  | 248 |  |  | $ | 1,926 |  | (a) | $ | 22.50 |  |  | June 16, 2021
2 |  |  | 218 |  |  |  | 371 |  |  |  | 2,888 |  | (a) |  | 23.75 |  |  | July 14, 2021
3 |  |  | 363 |  |  |  | 620 |  |  |  | 4,117 |  |  |  | 24.375 |  |  | September 21, 2021
4 |  |  | 363 |  |  |  | 620 |  |  |  | 4,117 |  |  |  | 25.00 |  |  | September 21, 2021
(a) Cash payments include amounts earned for dividends.

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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