Agreements and Transactions with Related Parties (Tables)

6 Months Ended

Jun. 30, 2020

The following tables present a summary of revenue earned, reimbursable costs, and distributions of Available Cash received/accrued from the Managed Programs and WLT for the periods indicated, included in the consolidated financial statements (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Asset management revenue ^(a)	$	4,472	$	9,790	$	14,361	$	19,522
Reimbursable costs from affiliates ^(a)	2,411		3,821		6,441		7,689
Distributions of Available Cash ^(b)	2,029		3,765		3,945		9,450
Interest income on deferred acquisition fees and loans to affiliates ^(c)	83		571		360		1,091
Structuring and other advisory revenue ^(a)	—		58		494		2,576
	$	8,995	$	18,005	$	25,601	$	40,328



	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
CPA:18 – Global	$	5,550	$	5,862	$	11,462	$	13,819
CWI 1	623		6,140		5,662		13,641
CWI 2	468		4,904		4,668		10,650
CESH	1,225		1,099		2,680		2,218
WLT (reimbursed transition services)	1,129		—		1,129		—
	$	8,995	$	18,005	$	25,601	$	40,328

__________


(a)	Amounts represent revenues from contracts under ASC 606.


(b)	Included within Equity in earnings of equity method investments in the Managed Programs and real estate in the consolidated statements of income.

(c)

Included within Other gains and (losses) in the consolidated statements of income.

Schedule of balances due to and from related party

The following table presents a summary of amounts included in Due from affiliates in the consolidated financial statements (in thousands):



	June 30, 2020		December 31, 2019
Reimbursable costs	4,824		3,129
Deferred acquisition fees receivable, including accrued interest	2,580		4,450
Accounts receivable	2,461		1,118
Asset management fees receivable	973		1,267
Current acquisition fees receivable	236		131
Short-term loans to affiliates, including accrued interest	—		47,721
	$	11,074	$	57,816

Schedule of related party fees

The following table presents a summary of our asset management fee arrangements with the remaining Managed Programs:



Managed Program	Rate	Payable	Description
CPA:18 – Global	0.5% – 1.5%	In shares of its Class A common stock and/or cash, at the option of CPA:18 – Global; payable 50% in cash and 50% in shares of its Class A common stock for 2019 through March 31, 2020; payable in shares of its Class A common stock effective as of April 1, 2020	Rate depends on the type of investment and is based on the average market or average equity value, as applicable
CESH	1.0%	In cash	Based on gross assets at fair value

The Managed Programs reimburse us in cash for certain personnel and overhead costs that we incur on their behalf. For CPA:18 – Global, such costs, excluding those related to our legal transactions group, our senior management, and our investments team, are charged to CPA:18 – Global based on the average of the trailing 12-month aggregate reported revenues of the Managed Programs and us, and personnel costs are capped at 1.0% of CPA:18 – Global’s pro rata lease revenues for both 2020 and 2019; for the legal transactions group, costs are charged according to a fee schedule. For the CWI REITs, the reimbursements were based on actual expenses incurred, excluding those related to our senior management, and allocated between the CWI REITs based on the percentage of their total pro rata hotel revenues for the most recently completed quarter. Reimbursements from the CWI REITs ceased following the closing of the CWI 1 and CWI 2 Merger on April 13, 2020; after that date, we began recording reimbursements from WLT pursuant to a transition services agreement (described above) based on actual expenses incurred. For CESH, reimbursements are based on actual expenses incurred.