CNSREIT-AR-2024 Final - Flipbook - Page 135
Common Stock
The following table details the movement in the Company9s outstanding shares of common stock:
Class I
20,000
40,140
766
60,906
Beginning balance, December 31, 2023
Common stock issued
Distribution reinvestment
Ending balance, December 31, 2024
Class F-I
4
22,199
195
22,394
Class P
4
12,643,320
85,699
12,729,019
Total
20,000
12,705,659
86,660
12,812,319
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 shares of 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 shares 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.
Distributions
The Company generally intends to distribute substantially all of its taxable income, which does not necessarily equal net
income as calculated in accordance with GAAP, to its stockholders each year to comply with the REIT provisions of the
Code. Each class of common stock receives the same gross distribution rate per share. The net distribution varies for each
class based on the applicable stockholder servicing fee, which is deducted from the monthly distribution per share and paid
directly to the applicable distributor.
The following table presents the aggregate distributions per share declared for each applicable class of common stock:
Class I Common Stock
Class F-I Common Stock
Class P Common Stock
Year Ended December 31, 2024
Gross Distributions
Stockholder Servicing Fee (1)
Net Distribution
$
0.3045 $
4 $
0.3045
$
0.2175 $
4 $
0.2175
$
0.3045 $
4 $
0.3045
___________
(1)
Stockholder servicing fees only apply to Class F-T, Class F-S, Class F-D, Class T, Class S and Class D shares. For
purposes of NAV, the Company recognizes the stockholder servicing fee as a reduction of NAV on a monthly
basis as such fee is paid. Under GAAP, the Company accrues the full cost of the stockholder servicing fee as an
offering cost at the time Class F-T, Class F-S, Class F-D, Class T, Class S and Class D shares are sold. As of
December 31, 2024, the Company had not sold any Class F-T, Class F-S, Class F-D, Class T, Class S and Class D
shares and therefore, had not incurred any stockholder servicing fees.
The Company did not declare any distributions for any period during the year ended December 31, 2023.
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