Pursuant to the terms of the agreements described above, the following summarizes the related party costs incurred for the years ended December 31, 2013, 2012 and 2011:


	Year Ended December 31, 2013		Year Ended December 31, 2012		Year Ended December 31, 2011
Expensed
Reimbursement of operating expenses ⁽¹⁾	$	385,403	$	33,476	$	330,993
Asset management fees ⁽²⁾		5,050,668		4,521,867		3,019,429
Property management fees ^{(3) (4)}		4,889,019		3,732,149		2,683,492
Acquisition expenses		1,869,974		2,415,200		5,706,838
Additional Paid-in Capital
Selling commissions		7,215,235		7,402,084		5,798,197
Dealer Manager fee		3,092,243		3,172,322		2,484,942
Reimbursement of offering costs		344,055		487,235		555,839

Total	$	22,846,597	$	21,764,333	$	20,579,730

⁽¹⁾

During the years ended December 31, 2013, 2012, and 2011, our Advisor permanently waived certain reimbursable indirect costs, primarily payroll and related overhead costs, related to administrative and management services, totaling approximately $975,000, $960,000 and $740,000, respectively. Such amounts were waived permanently and accordingly, will not be paid to our Advisor. Such reimbursable indirect costs were not waived by the Advisor during the three month periods ended December 31, 2013 and March 31, 2011 and totaled approximately $340,000 and $260,000 respectively.

⁽²⁾

For the nine months ended September 30, 2013 our Advisor permanently waived asset management fees related to the Stockade Portfolio of approximately $525,000. During the three months ended December 31, 2013 such amounts were not waived and approximately $175,000 of such costs were recorded. During the year ended December 31, 2012, our Advisor permanently waived asset management fees related to the Stockade Portfolio and our Dufferin property totaling approximately $186,000 and $37,000, respectively. Such amounts were waived permanently and accordingly, will not be paid to our Advisor.

⁽³⁾

During the years ended December 31, 2013, 2012 and 2011, property management fees include approximately $27,000 $100,000 and $60,000, respectively, of fees paid to the sub-property manager of our Canadian properties. Such sub-property management agreement was terminated effective March 31, 2013 at a cost of approximately $28,000.

⁽⁴⁾

During the year ended December 31, 2013, our Property Manager permanently waived certain costs, reimbursements and fees, including construction management fees, tenant insurance administration fees, accounting administrative fees and expense reimbursements related to certain off-site property management employees. Such amounts totaled approximately $759,000, and were waived permanently and accordingly, will not be paid to our Property Manager.