CNSREIT-AR-2024 Final - Flipbook - Page 101
Dividends paid to stockholders consist of ordinary income, capital gains, return of capital or a combination thereof for
income tax purposes. Our dividends per share are summarized as follows:
Ordinary income
Return of capital
Capital Gains
2024 Tax Year
97.9 %
4%
2.1 %
2023 Tax Year
4%
4%
4%
Distribution Reinvestment Plan
The Company has adopted a distribution reinvestment plan whereby stockholders in certain states or clients of certain
participating broker-dealers will have their cash distributions automatically reinvested in additional shares of common
stock unless they elect to receive their distributions in cash. Stockholders in certain states and clients of certain
participating broker-dealers that do not permit automatic enrollment in the distribution reinvestment plan will automatically
receive their distributions in cash unless they elect to have their cash distributions reinvested in additional shares of
common stock. The per share purchase price for shares purchased pursuant to the distribution reinvestment plan will be
equal to the transaction price at the time the distribution is payable (which will generally be equal to the Company9s prior
month9s NAV per share). Stockholders will not pay upfront selling commissions or dealer manager fees when purchasing
shares pursuant to the distribution reinvestment plan. The stockholder servicing fees with respect to the Company9s Class T
shares, Class S shares, Class D shares, Class F-T shares, Class F-S shares and Class F-D shares are calculated based on the
NAV for those share classes and may reduce the NAV or, alternatively, the distributions payable with respect to shares of
each such class, including shares issued in respect of distributions on such shares under the distribution reinvestment plan.
Shares acquired under the distribution reinvestment plan will entitle the participant to the same rights and be treated in the
same manner as shares purchased in the Offering.
Unregistered Sales of Equity Securities
All sales of unregistered securities during the year ended December 31, 2024 were previously disclosed.
Use of Offering Proceeds
On February 21, 2023, the Registration Statement on Form S-11 (File No. 333-269416) for the Offering was declared
effective under the Securities Act. The transaction price for each class of our common stock is determined monthly and is
made available on our website, www.cnsreit.com, and in prospectus supplement filings.
As of December 31, 2024, we received net proceeds of $0.4 million from the Offering. The following table
summarizes certain information about the Offering proceeds ($ and shares in thousands):
Class I
Shares
Offering proceeds:
Shares sold (1)
Gross offering proceeds
Selling commissions and other dealer manager fees
Stockholder servicing fees
Net offering proceeds
$
$
Class F-I
Shares
Total
20,596
22,394
42,990
207,500 $
4
4
207,500 $
235,000 $
4
4
235,000 $
442,500
4
4
442,500
__________
(1)
Shares sold includes shares issued under our distribution reinvestment plan.
During the year ended December 31, 2024, we primarily used the net proceeds from our public offering and the
unregistered sales of our Class P shares to acquire $245.5 million in real estate and to invest $30.8 million in real estaterelated securities. In addition to the net proceeds from the Offering, we financed our real property investments with $134.9
million from mortgage notes, net of deferred financing costs. See Item 7 4
