CNSREIT-AR-2024 Final - Flipbook - Page 100
(4)
In accordance with GAAP, we depreciate our investments in real estate and amortize certain other lease intangible
assets and liabilities. Such depreciation and amortization are not recorded for the purposes of calculating NAV.
(5)
We record straight-line rent in accordance with GAAP. Any resulting straight-line rent receivable or liability is
excluded for purposes of determining our NAV.
Distribution Policy
We generally intend to distribute substantially all of our taxable income, which does not necessarily equal net income
as calculated in accordance with GAAP, to our stockholders each year to comply with the REIT provisions of the Code.
We began declaring monthly distributions for each class of our common stock in June 2024. Distributions are generally
paid 22 days after the end of the month in which such distribution was declared. Distributions are made on all classes of
our common stock at the same time and each class of our common stock received the same aggregate gross distribution per
share; however, the net distribution differs for each class because of different allocations of class-specific stockholder
servicing fees. The table below details the net per share distribution for each of our share classes for the year ended
December 31, 2024:
Record Date
June 30, 2024
July 31, 2024
August 31, 2024
September 30, 2024
October 31, 2024
November 30, 2024
December 31, 2024
Total
Class I
$
Class F-I
0.0435 $
0.0435
0.0435
0.0435
0.0435
0.0435
0.0435
0.3045
Class P
4 $
4
0.0435
0.0435
0.0435
0.0435
0.0435
0.2175
0.0435
0.0435
0.0435
0.0435
0.0435
0.0435
0.0435
0.3045
The following tables summarize our distributions declared during the year ended December 31, 2024 ($ in thousands):
Year Ended December 31, 2024
Amount
Percentage
Distributions
Payable in cash
Reinvested in shares
Total distributions (1)
Source of Distributions
Cash flows from operating activities (2)
Total sources of distributions
AFFO
FAD
$
$
1,503
943
2,446
61 %
39 %
100 %
$
$
$
$
2,446
2,446
4,191
3,962
100 %
100 %
__________
(1)
Distributions payable in cash represents $0.9 million of distributions paid in cash during the year ended December
31, 2024, and $0.6 million distributions that were accrued and unpaid as of December 31, 2024.
(2)
During the year ended December 31, 2024, we received cash flows from operating activities in the amounts of
$5.1 million.
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