Related-Party Transactions (Tables)

6 Months Ended

Jun. 30, 2014

Pursuant to the terms of the agreements described above, Wells VAF I incurred the following related-party costs for the three months and six months ended June 30, 2014 and 2013, respectively, portions of which are included in income from discontinued operations in the accompanying statements of operations:



	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2014			2013		2014		2013
Asset management fees⁽¹⁾	$	32,813		$	53,813	$	65,625	$	107,625
Administrative reimbursements⁽¹⁾⁽²⁾	(40,144		)	70,282		54,935		148,219
Property management fees⁽¹⁾	—			—		—		9,803
Total	$	(7,331	)	$	124,095	$	120,560	$	265,647


⁽¹⁾	Asset management fees, administrative reimbursements, and property management fees are expensed as incurred.


⁽²⁾	Administrative reimbursements are included in general and administrative expenses in the statements of operations.

As of June 30, 2014 and December 31, 2013, due to affiliates was comprised of the following items:



	June 30, 2014		December 31, 2013
Asset management fees	$	10,938	$	—
Administrative reimbursements and bill-backs	6,746		22,022
	$	17,684	$	22,022