Transactions with Related Parties (Tables)

3 Months Ended

Mar. 31, 2016

Amounts Incurred for Management Fee and Reimbursable Expenses

For purposes of calculating the management fee, equity is defined as the value, computed in accordance with GAAP, of shareholders’ equity, adjusted to exclude the effects of unrealized gains or losses. The following table presents amounts incurred for management fee, reimbursable expenses and share-based compensation expense related to the restricted common shares granted to management.

	Three Months Ended March 31
	2016		2015
Management fee	$	3,982	$	4,095
Reimbursable expenses		1,343		1,293
Total	$	5,325	$	5,388

Share-based compensation	$	1,293	$	1,045