The table below summarizes the fees and expenses incurred by the Company for services provided by the Advisor and the Dealer Manager related to the services described above, and any related amounts payable:


	Incurred
	For the Three Months				For the Nine Months				Payable as of
	Ended September 30,				Ended September 30,				September 30,		December 31,
(in thousands)	2014		2013		2014		2013		2014		2013
Expensed:
Acquisition fees (1)	$	1,690	$	5,627	$	3,432	$	10,961	$	-	$	-
Asset management fees (2)		7,393		6,077		22,029		15,831		34		13
Other expense reimbursements		187		182		588		691		51		73

Total	$	9,270	$	11,886	$	26,049	$	27,483	$	85	$	86


Additional Paid-In Capital:
Sales commissions	$	-	$	14,468	$	-	$	49,245	$	-	$	-
Dealer manager fees		-		5,419		-		18,294		-		-
Offering expenses		209		3,774		850		13,101		81		139

Total	$	209	$	23,661	$	850	$	80,640	$	81	$	139

(1)

In addition, for the nine months ended September 30, 2014, the Company paid to the Advisor approximately $2.6 million of development acquisition fees, which are included in the total development project costs of the respective properties, and are capitalized in construction in progress on the Company’s condensed consolidated balance sheets.

(2)

In addition, for the nine months ended September 30, 2014, the Company paid to the Advisor approximately $2.6 million of asset management fees in connection with dispositions, which are included in the gain on disposition of real estate properties on the Company’s condensed consolidated statements of operations.