Amounts attributable to the Advisor and its affiliates incurred (earned) for the years ended December 31, 2018, 2017 and 2016 are as follows:



	Incurred (Earned) For the Year Ended December 31,
	2018			2017			2016
Consolidated Statements of Operations:
Expensed
Investment management fees⁽¹⁾	$	9,799,335		$	13,823,000		$	14,075,818
Acquisition fees⁽¹⁾	—			—			960
Acquisition expenses⁽²⁾	444,475			—			—
Property management:
Fees⁽¹⁾	4,059,216			6,278,850			6,406,479
Reimbursement of onsite personnel⁽³⁾	12,857,437			18,716,284			18,751,492
Other fees⁽¹⁾	1,598,991			1,771,620			1,673,724
Other fees - property operations⁽³⁾	138,235			170,067			—
Other fees - G&A⁽²⁾	86,542			133,419			168,037
Other operating expenses⁽²⁾	988,367			1,244,264			1,232,493
Disposition fees⁽⁴⁾	5,893,800			6,706,200			—
Disposition transaction costs⁽⁴⁾	84,222			56,922			—
Loan coordination fee⁽¹⁾	422,160			86,675			3,283,737
Property insurance⁽⁵⁾	1,597,712			1,285,490			311,794
Insurance proceeds⁽⁶⁾	(75,000		)	(102,147		)	(113,853		)
Consolidated Balance Sheets:
Capitalized
Construction management:
Fees⁽⁷⁾	209,829			526,866			1,493,999
Reimbursement of labor costs⁽⁷⁾	95,631			239,015			367,204
Capital expenditures⁽⁷⁾	39,680			74,709			17,654
Deferred financing costs⁽⁸⁾	—			12,930			139,229
Capitalized costs on investment in unconsolidated joint venture⁽⁹⁾	58,386			65,113			—
Acquisition expenses⁽¹⁰⁾	245,048			3,226			—
Acquisition fees⁽¹⁰⁾	705,722			—			—
	$	39,249,788		$	51,092,503		$	47,808,767

________________


(1)	Included in fees to affiliates in the accompanying consolidated statements of operations.


(2)	Included in general and administrative expenses in the accompanying consolidated statements of operations. Reflects acquisition expenses that did not meet the capitalization criteria under ASU 2017-01.


(3)	Included in operating, maintenance and management in the accompanying consolidated statements of operations.


(4)	Included in gain on sales of real estate, net in the accompanying consolidated statements of operations.

(5)

Property related insurance expense and the amortization of the prepaid insurance deductible account are included in general and administrative expenses in the accompanying consolidated statements of operations. The amortization of the prepaid property insurance is included in operating, maintenance and management expenses in the accompanying consolidated statements of operations. The prepaid insurance is included in other assets in the accompanying consolidated balance sheets upon payment.


(6)	Included in tenant reimbursements and other in the accompanying consolidated statements of operations.


(7)	Included in building and improvements in the accompanying consolidated balance sheets.


(8)	Included in mortgage notes payable, net in the accompanying consolidated balance sheets.


(9)	Included in investment in unconsolidated joint venture in the accompanying consolidated balance sheets.


(10)	Included in total real estate, cost in the accompanying consolidated balance sheets. Reflects acquisition expenses that did meet the capitalization criteria under ASU 2017-01.

Amounts attributable to the Advisor and its affiliates paid (received) for the years ended December 31, 2018, 2017 and 2016 are as follows:



	Paid (Received) For the Year Ended December 31,
	2018		2017			2016
Consolidated Statements of Operations:
Expensed
Investment management fees	$	8,158,850	$	15,008,001		$	14,060,587
Acquisition fees	—		—			960
Acquisition expenses	233,287		—			—
Property management:
Fees	4,126,954		6,410,591			6,392,550
Reimbursement of onsite personnel	13,040,470		18,748,974			18,650,009
Other fees	1,604,623		1,781,318			1,671,282
Other fees - property operations	138,235		170,067			—
Other fees - G&A	86,542		133,419			168,037
Other operating expenses	960,376		1,341,997			1,098,568
Disposition fees	4,407,675		6,139,575			—
Disposition transaction costs	84,222		56,922			—
Loan coordination fee	508,835		—			3,283,737
Property insurance	1,555,825		1,322,247			361,490
Insurance proceeds	—		(102,147		)	(113,853		)
Consolidated Balance Sheets:
Capitalized
Construction management:
Fees	213,652		536,866			1,548,701
Reimbursement of labor costs	95,730		245,889			474,155
Capital expenditures	39,680		74,709			17,654
Deferred financing costs	—		12,930			139,229
Capitalized costs on investment in unconsolidated joint venture	58,386		65,113			—
Acquisition expenses	245,048		3,226			—
Acquisition fees	705,722		—			—
	$	36,264,112	$	51,949,697		$	47,753,106

Amounts attributable to the Advisor and its affiliates that are payable (prepaid/receivable) as of December 31, 2018 and 2017 are as follows:



	Payable (Prepaid/Receivable) as of December 31,
	2018			2017
Consolidated Statements of Operations:
Expensed
Investment management fees	$	1,640,485		$	—
Acquisition expenses	211,188			—
Property management:
Fees	334,577			402,315
Reimbursement of onsite personnel	589,551			772,584
Other fees	39,349			44,981
Other operating expenses	115,212			87,221
Disposition fees	2,052,750			566,625
Loan coordination fee	—			86,675
Property insurance	(119,055		)	(160,942		)
Insurance proceeds	(75,000		)	—
Consolidated Balance Sheets:
Capitalized
Construction management:
Fees	2,608			6,431
Reimbursement of labor costs	198			297
	$	4,791,863		$	1,806,187