Note 15 — Subsequent Events

Issuance of shares of common stock through DRIP

As of May 14, 2012, the Company had raised $2.3 billion of gross proceeds through the issuance of approximately 227.6 million shares of its common stock in the Offerings (including shares issued pursuant to the DRIP). Shares issued subsequent to March 31, 2012 were issued pursuant to the DRIP Offering.

Redemption of Shares of Common Stock

Subsequent to March 31, 2012, the Company redeemed approximately 1.6 million shares for $14.5 million at an average price per share of $9.29.

Notes Payable and Line of Credit

Subsequent to March 31, 2012, the Company borrowed $21.0 million and repaid $10.0 million under the Credit Facility. As of May 14, 2012, the Company had $297.1 million outstanding under the Credit Facility and $52.4 million available for borrowing.