XML 70 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Related Party Transactions - Advisory Agreement and Other (Details)
$ / item in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
USD ($)
employee
$ / item
shares
Mar. 31, 2017
USD ($)
shares
Dec. 31, 2017
USD ($)
Related Party Transactions      
Number of paid employees | employee 0    
Management fee percentage of total assets 0.35%    
Maximum management fee payable in cash or common shares not to exceed one-twelfth of 0.35% of the total assets    
Advisory management fees $ 718 $ 696  
Rental Income $ 27,618 26,406  
Advisory Agreement      
Related Party Transactions      
Business acquisition purchase price allocation acquisition fees percentage 2.50%    
Advisory disposition fee for sale of investments 2.50%    
Advisory disposition fee sale of cap amount | $ / item 375    
Financing fee percentage 0.25%    
Finance fee capped per loan $ 38    
Advisory Agreement | Minimum      
Related Party Transactions      
Development fee percentage 3.00%    
Advisory Agreement | Maximum      
Related Party Transactions      
Criteria acquisition fees | $ / item 375    
Acquisition fees and expenses net percentage 6.00%    
Development fee percentage 5.00%    
Advisory Agreement | 0 – 10M      
Related Party Transactions      
Development fee percentage 5.00%    
Formula 0M – 5.0% x (TC – 0M)    
Advisory Agreement | 0 – 10M | Minimum      
Related Party Transactions      
Total Cost $ 0    
Range of Fee 0    
Advisory Agreement | 0 – 10M | Maximum      
Related Party Transactions      
Total Cost 10,000    
Range of Fee $ 500    
Advisory Agreement | 10M - 20M      
Related Party Transactions      
Development fee percentage 4.50%    
Formula .50M – 4.5% x (TC – 10M)    
Advisory Agreement | 10M - 20M | Minimum      
Related Party Transactions      
Total Cost $ 10,000    
Range of Fee 500    
Advisory Agreement | 10M - 20M | Maximum      
Related Party Transactions      
Total Cost 20,000    
Range of Fee $ 950    
Advisory Agreement | 20M – 30M      
Related Party Transactions      
Development fee percentage 4.00%    
Formula .95M – 4.0% x (TC – 20M)    
Advisory Agreement | 20M – 30M | Minimum      
Related Party Transactions      
Total Cost $ 20,000    
Range of Fee 950    
Advisory Agreement | 20M – 30M | Maximum      
Related Party Transactions      
Total Cost 30,000    
Range of Fee $ 1,350    
Advisory Agreement | 30M – 40M      
Related Party Transactions      
Development fee percentage 3.50%    
Formula 1.35M – 3.5% x (TC – 30M)    
Advisory Agreement | 30M – 40M | Minimum      
Related Party Transactions      
Total Cost $ 30,000    
Range of Fee 1,350    
Advisory Agreement | 30M – 40M | Maximum      
Related Party Transactions      
Total Cost 40,000    
Range of Fee $ 1,700    
Advisory Agreement | 40M – 50M      
Related Party Transactions      
Development fee percentage 3.00%    
Formula 1.70M – 3.0% x (TC – 40M)    
Advisory Agreement | 40M – 50M | Minimum      
Related Party Transactions      
Total Cost $ 40,000    
Range of Fee 1,700    
Advisory Agreement | 40M – 50M | Maximum      
Related Party Transactions      
Total Cost 50,000    
Range of Fee 2,000    
Sterling Management, LLC      
Related Party Transactions      
Advisory management fees 718 696  
Advisory management fees outstanding 240   $ 238
Acquisition fees 114 220  
Acquisition fees outstanding 0    
Financing fees for loan financing and refinancing activities 0 33  
Financing fees for loan financing and refinancing outstanding 0   0
Disposition fees 0 0  
Disposition fees outstanding 0   0
Development fee 233    
Development fees Outstanding $ 104   104
Percentage of development fees hold back 10.00%    
Rental Income $ 12 11  
GOLDMARK Property Management      
Related Party Transactions      
Rental Income 57 54  
GOLDMARK SCHLOSSMAN Commercial Real Estate Services      
Related Party Transactions      
Real estate commissions 0 264  
Real estate commissions outstanding 0   0
Rental Income $ 14 $ 13  
Entity Affiliated With Messrs Regan and Wieland      
Related Party Transactions      
Number of operating partnership (OP) units issued in connection with the acquisition of various properties | shares 42,000 50,000  
Value of operating partnership (OP) units issued in connection with the acquisition of various properties $ 773 $ 808  
Goldmark Development      
Related Party Transactions      
Construction costs incurred to date $ 0   8,997
Retainage owed     0
Unpaid construction fees     $ 0