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SUBSEQUENT EVENTS | 9 Months Ended
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Sep. 30, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Financing Activity—Equity Activity The following table provides information on equity sales that have occurred subsequent to September 30, 2022 (dollars in thousands, except per-share amounts):
Type of Issuance |  | Number of Shares Sold |  | Weighted Average Offering Price Per Share |  | Gross Proceeds |  | Net Proceeds(1)
Series C Preferred Stock(2) |  | 814,119 |  | $ | 24.68 |  |  | $ | 20,093 |  |  | $ | 18,521 |
(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable). (2)Excludes approximately 7,513 shares issued pursuant to the DRIP. Distributions On October 11, 2022, our Board of Directors authorized and we declared the following monthly cash distributions to holders of our preferred and common stock:
Issuance |  | Record Date |  | Payment Date |  | Distribution per Share
Series B Preferred Stock: |  | October 21, 2022 |  | October 31, 2022 |  | $ | 0.125 |
|  | November 18, 2022 |  | November 30, 2022 |  | 0.125 |
|  | December 20, 2022 |  | December 30, 2022 |  | 0.125 |
Total Series B Preferred Stock Distributions: |  | $ | 0.375 |
Series C Preferred Stock: |  | October 26, 2022 |  | November 4, 2022 |  | $ | 0.125 |
|  | November 23, 2022 |  | December 5, 2022 |  | 0.125 |
|  | December 28, 2022 |  | January 6, 2023 |  | 0.125 |
Total Series C Preferred Stock Distributions: |  | $ | 0.375 |
Series D Term Preferred Stock: |  | October 21, 2022 |  | October 31, 2022 |  | $ | 0.104167 |
|  | November 18, 2022 |  | November 30, 2022 |  | 0.104167 |
|  | December 20, 2022 |  | December 30, 2022 |  | 0.104167 |
Total Series D Term Preferred Stock Distributions: |  | $ | 0.312501 |
Common Stock(1): |  | October 21, 2022 |  | October 31, 2022 |  | $ | 0.0458 |
|  | November 18, 2022 |  | November 30, 2022 |  | 0.0458 |
|  | December 20, 2022 |  | December 30, 2022 |  | 0.0458 |
Total Common Stock Distributions: |  | $ | 0.1374 |
(1)The same amounts paid to common stockholders will be paid as distributions on each OP Unit held by non-controlling OP Unitholders as of the above record dates. Election of Director Effective October 11, 2022, Paula Novara was elected to our Board of Directors. Ms. Novara also serves as head of human resources, facilities and office management, and IT of the Adviser and certain of its affiliates.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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