During the three months ended December 31, 2024, we repurchased shares of our common stock in the following amounts:
Total Number of Shares Repurchased as Part of Publicly Announced Plans
Maximum Number of Shares That May Yet Publicly Announced Plans or Programs (2)
Total Number
Average Price Paid per Share
Be Repurchased Pursuant to
of Shares
Month of:
Repurchased (1)(2)
or Programs
October 2024 (3) November 2024 (3) December 2024 (3)
1,370,953 $
22.23 21.97 21.85 22.00
1,370,953 1,345,180 1,879,192 4,595,325
— — — —
1,345,180
1,879,192 (4) 4,595,325 $
Total
(1) Repurchases are limited under the share repurchase plan as described above, which was first announced in December 2017. Under the share repurchase plan, we were authorized to repurchase up to an aggregate of $88.6 million of Class T, Class S, Class D and Class I shares based on our September 30, 2024 NAV in the fourth quarter of 2024. Pursuant to the share repurchase plan, this amount resets at the beginning of each quarter. Shares repurchased were submitted by our stockholders in the prior month and honored in the current month. (2) Share repurchases are funded through a combination of sales of shares of our common stock, borrowings from our unsecured line of credit and proceeds from asset dispositions. (3) In October 2024, we received repurchase requests in excess of the 0.33% monthly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for October 2024 on a pro rata basis up to the 0.33% monthly limitation. As such, approximately 4% of each stockholder’s October repurchase request was satisfied. In accordance with our repurchase plan, on October 31, 2024, we repurchased all of the shares from stockholders that held less than $500 in shares of our common stock and, as such, we exceeded the 0.33% monthly limitation by $16,606, as authorized by our board of directors. In November 2024, we received repurchase requests in excess of the 0.33% monthly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for November 2024 on a pro rata basis up to the 0.33% monthly limitation. As such, approximately 4% of each stockholder’s November repurchase request was satisfied. In accordance with our repurchase plan, on November 30, 2024, we repurchased all of the shares from stockholders that held less than $500 in shares of our common stock and, as such, we exceeded the 0.33% monthly limitation by $10,195, as authorized by our board of directors. In December 2024, we received repurchase requests in excess of the 1.0% quarterly limit. As per the terms of our share repurchase plan, we honored all repurchase requests for December 2024 on a pro rata basis up to the 1.0% quarterly limitation. As such, approximately 4% of each stockholder’s December repurchase request was satisfied. In accordance with our repurchase plan, on December 31, 2024, we repurchased all of the shares from stockholders that held less than $500 in shares of our common stock and, as such, we exceeded the 1.0% quarterly limitation by $10,009, as authorized by our board of directors. (4) Includes 534,420 Class I shares previously held by the Advisor that were received as payment for its management fee, and that were repurchased outside of our share repurchase plan. The Advisor repurchases were used primarily to settle tax obligations incurred by the Advisor.
ITEM 6. RESERVED
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