Through August 8, 2018, the Company had sold 12,236,937 shares of Class C common stock in the Registered Offering for aggregate gross offering proceeds of $122,507,601, including 634,236 shares of common stock sold under its Registered DRP Offering for aggregate gross offering proceeds of $6,358,113, and 3,117 shares of Class S common stock in the Class S Offering for aggregate gross offering proceeds of $31,170, including 117 shares of Class S common stock sold under its dividend reinvestment plan applicable to Class S common stock for aggregate gross offering proceeds of $1,170.

On July 2, 2018, the Company’s board of directors declared distributions based on daily record dates for the period July 1, 2018 through July 31, 2018 at a rate of $.0018911 per share per day on the outstanding shares of the Company’s Class C and Class S common stock, which the Company will pay on August 27, 2018, which is the first business day following the August 25, 2018 payment date

On July 30, 2018, the Company’s board of directors declared distributions based on daily record dates for the period August 1, 2018 through August 31, 2018 at a rate of $.0018911 per share per day on the outstanding shares of the Company’s Class C and Class S common stock, which the Company will pay on September 25, 2018.

On July 27, 2018, the Company, through a wholly-owned subsidiary of the Operating Partnership, completed the acquisition of a retail property with approximately 45,000 square feet located in Las Vegas, Nevada which is leased to 24 Hour Fitness USA, Inc. The property houses high-end fitness amenities including a cycling room, pro shop, kids club, basketball court, swimming pool, jacuzzi, sauna, steam room, aerobic studio, locker rooms, cardio equipment and a weightlifting area. The contract purchase price for the property was $12,200,000, which was funded with $3,200,000 in net proceeds from the Registered Offering and $9,000,000 drawn under the Unsecured Credit Facility. The property’s double net lease expires on March 31, 2030 and includes three five-year renewal options to extend the expiration date. The property is expected to generate $10,525,500 in total rental revenue over the course of its remaining lease term. The seller of the property was not affiliated with the Company or its affiliates. Under the terms of the Advisory Agreement, the Company paid the Advisor an acquisition fee of $366,000 in connection with this transaction.

On July 10, 2018, the Company entered into a purchase agreement to acquire a single-story office building with approximately 38,794 square feet located in Dallas, Texas. This property is leased to Texas Health Resources, a nonprofit corporation with 29 hospital locations, more than 100 outpatient facilities, more than 24,000 employees and over 6,000 physicians. The property’s triple-net lease expires on December 31, 2025. The contract purchase price for the property is $7,425,000 which will be funded by a combination of net proceeds from the Registered Offering and debt financing. The seller of the property is not affiliated with the Company or its affiliates. This acquisition is scheduled to close in September 2018 and, if closed, the Company will pay the Advisor an acquisition fee of $222,750.

On August 2, 2018, the Conflicts Committee approved, and on August 3, 2018 our board of directors approved, renewing the Advisory Agreement for an additional year, to August 11, 2019. Concurrently, the independent directors, which comprise the Conflicts Committee, and our board of directors also approved amendments to the Advisory Agreement which provide for (i) paying the Asset Management Fee for assets acquired during a month based on the pro-rated number of days following acquisition and (ii) paying the Asset Management Fee on the last business day of the month.