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SUBSEQUENT EVENTS
 9 Months Ended
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 IssuanceNumber 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:
IssuanceRecord DatePayment DateDistribution per Share
Series B Preferred Stock:October 21, 2022October 31, 2022$0.125 
November 18, 2022November 30, 20220.125 
December 20, 2022December 30, 20220.125 
Total Series B Preferred Stock Distributions:$0.375 
Series C Preferred Stock:October 26, 2022November 4, 2022$0.125 
November 23, 2022December 5, 20220.125 
December 28, 2022January 6, 20230.125 
Total Series C Preferred Stock Distributions:$0.375 
Series D Term Preferred Stock:October 21, 2022October 31, 2022$0.104167 
November 18, 2022November 30, 20220.104167 
December 20, 2022December 30, 20220.104167 
Total Series D Term Preferred Stock Distributions:$0.312501 
Common Stock(1):
October 21, 2022October 31, 2022$0.0458 
November 18, 2022November 30, 20220.0458 
December 20, 2022December 30, 20220.0458 
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.