7 unchanged sentences
Pursuant to the DRIP Offerings, we issue shares of our common stock at the most recently disclosed estimated per share NAV as determined by our Board.
−Removed: As of December 31, 2024, the estimated per share NAV was $6.09 per share, which was established on February 29, 2024 using a valuation date of January 31, 2024.
+Added: As of December 31, 2025, the estimated per share NAV was $5.22 per share, which was established on March 20, 2025 using a valuation date of December 31, 2024.
Subsequent to December 31, 2025, the Board established an updated per share NAV of our common stock effective on March 27, 2026, using a valuation date of December 31, 2025, of $5.14 per share.
21 unchanged sentences
The estimated per share NAV
−Removed: for purposes of our share redemption program as of December 31, 2024 was $6.09 per share, which estimated per share NAV was determined by our Board on February 29, 2024 using a valuation date of January 31, 2024.
+Added: for purposes of our share redemption program as of December 31, 2025 was $5.22 per share, which estimated per share NAV was determined by our Board on March 20, 2025 using a valuation date of December 31, 2024.
Subsequent to December 31, 2025, the Board established an updated estimated per share NAV of our common stock on March 19, 2026, using a valuation date of December 31, 2025, of $5.14 per share.
49 unchanged sentences
In general, we redeem shares on a quarterly basis.
−Removed: During the three-month period ended December 31, 2024, we redeemed shares, including those redeemable due to a stockholder’s death, as follows:
−Removed: Redeemed Average Price
−Removed: Paid per Share Total Number of Shares
+Added: During the three-month period ended December 31, 2025, we redeemed shares, including those redeemable due to a stockholder’s death and exigent circumstances, as follows:
+Added: Average Price
+Added: Paid per Share
+Added: Total Number of Shares
Purchased as Part of
Publicly Announced
−Removed: Plans or Programs Maximum Number of
+Added: Plans or Programs
+Added: Maximum Number of
Shares that May Yet Be
2 unchanged sentences
October 1, 2025 - October 31, 2025
−Removed: 17,229 $ 6.09 17,229 (3)
November 1, 2025 - November 30, 2025
−Removed: 1,864,822 $ 6.09 1,864,822 (3)
December 1, 2025 - December 31, 2025
____________________________________
−Removed: Total 1,887,719 1,887,719
−Removed: ____________________________________
(1) Redemptions are included in the month of payment, which is made one business day following the trade date.
−Removed: (2) Includes a prior period redemption.
(2) A description of the maximum number of shares that may be purchased under our share redemption program is included in the narrative preceding this table.
14 unchanged sentences
The following table shows the distributions declared on a per share basis during the years ended December 31, 2025, 2024 and 2023 (in thousands, except per share data):
−Removed: Year Ending December 31, Total Distributions
−Removed: Declared Distributions Declared
+Added: Year Ending December 31,
+Added: Total Distributions
+Added: Distributions Declared
per Common Share
−Removed: 2024 $ 197,136 $ 0.450
−Removed: 2023 $ 185,916 $ 0.425
−Removed: 2022 $ 164,526 $ 0.376
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.