The following table presents the fees and reimbursements incurred to the Advisor for the three and six months ended June 30, 2014 and 2013 and the amount due to related party as of December 31, 2013 (dollars in thousands):



		Three Months Ended June 30,				Six Months Ended June 30,				Due to Related Party as of
Type of Fee or Reimbursement ⁽¹⁾	Financial Statement Location	2014		2013		2014		2013		December 31, 2013 ⁽²⁾
Fees to Advisor
Asset management	Asset management and other fees- related party	$	5,379	$	2,761	$	10,123	$	4,903	$	1,607
Acquisition ⁽³⁾	Real estate debt investments, net / Asset management and other fees- related party	3,369		2,981		3,489		5,323		—
Disposition ⁽³⁾	Real estate debt investments, net / Asset management and other fees- related party	632		15		807		15		10
Reimbursements to Advisor
Operating costs	General and administrative expenses	3,007		2,218		5,262		3,754		1,459
Total										$	3,076

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(1)	The Company incurred offering costs of $1.5 million and $2.5 million, respectively, and selling commissions / dealer manager fees of $32.6 million and $49.5 million, respectively, for the three and six months ended June 30, 2013. These costs are recorded as cost of capital and are included in net proceeds from issuance of common stock in the Company’s consolidated statements of equity.


(2)	The Company had no amount due to related party as of June 30, 2014.

(3)

Acquisition/disposition fees incurred to the Advisor related to CRE debt investments are generally offset by origination/exit fees paid to the Company by borrowers if such fees are required from the borrower. Acquisition fees related to equity investments are included in asset management and other fees -related party in the consolidated statements of operations. The Advisor may determine to defer fees or seek reimbursement. From inception through June 30, 2014, the Advisor deferred $0.5 million of acquisition fees and $0.3 million of disposition fees related to CRE securities.