Related Party Transactions and Arrangements (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate

The following table details total selling commissions and dealer manager fees incurred and payable to the Dealer Manager related to the sale of common stock as of and for the periods presented:



	Three Months Ended				Six Months Ended				Payable as of
	June 30,				June 30,				June 30,		December 31,
(In thousands)	2014		2013		2014		2013		2014		2013
Total commissions and fees incurred from Dealer Manager	$	—	$	30,208	$	8	$	37,368	$	—	$	857

Schedule Of Offering Costs Reimbursements to Related Party

The following table details offering costs reimbursements incurred and payable to the Advisor and Dealer Manager related to the IPO as of and for the periods presented:



	Three Months Ended				Six Months Ended				Payable as of
	June 30,				June 30,				June 30,		December 31,
(In thousands)	2014		2013		2014		2013		2014		2013
Fees and expense reimbursements from the Advisor and Dealer Manager	$	—	$	711	$	—	$	1,407	$	—	$	416

Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services

The following table details amounts incurred, forgiven and contractually due in connection with the operations related services described above as of and for the periods presented:



	Three Months Ended June 30,									Six Months Ended June 30,									Payable as of
	2014				2013					2014				2013					June 30,		December 31,
(In thousands)	Incurred		Forgiven		Incurred			Forgiven		Incurred		Forgiven		Incurred			Forgiven		2014		2013
One-time fees and reimbursements:
Acquisition fees and related cost reimbursements⁽¹⁾	$	—	$	—	$	(2,512	)	$	—	$	—	$	—	$	(825	)	$	—	$	—	$	—
Financing coordination fees	2,363		—		—			—		2,363		—		450			—		—		—
Ongoing fees:
Asset management fees ⁽²⁾	2,274		—		—			—		2,274		—		—			—		2,274		—
Transfer agent and other professional fees	1,041		—		—			—		1,627		—		—			—		499		—
Property management and leasing fees	—		413		—			185		—		787		—			371		—		—
Strategic advisory fees	—		—		454			—		—		—		605			—		—		—
Dividends on Class B units	19		—		26			—		107		—		40			—		—		—
Total related party operational fees and reimbursements	$	5,697	$	413	$	(2,032	)	$	185	$	6,371	$	787	$	270		$	371	$	2,773	$	—

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(1)	In June 2013, the Advisor elected to reimburse the Company $2.5 million for insourced acquisition expenses and legal reimbursements incurred.


(2)	Prior to the Listing, the Company caused the OP to issue the Advisor restricted performance based Class B units for asset management services, which vested as of the Listing.

Schedule of General and Administrative Expenses Absorbed by The Advisor

The following table details property operating and general and administrative expenses absorbed by the Advisor during the three and six months ended June 30, 2014 and 2013. These costs are presented net in the accompanying consolidated statements of operations and comprehensive income (loss).



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2014		2013		2014		2013
Property operating expenses absorbed	$	—	$	—	$	—	$	—
General and administrative expenses absorbed	1,041		600		1,041		950
Total expenses absorbed	$	1,041	$	600	$	1,041	$	950