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Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Detail) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Related Party Transactions [Abstract]          
Operating expenses [1] $ 748 $ 720 $ 1,555 $ 1,473  
Total reimbursable expenses 748 720 1,555 1,473  
Disposition fee [2] 68 0 68 0  
Investment services fee [3] 0 0 60 0  
Asset management fees [4] 3,523 4,113 7,102 8,590  
Total reimbursable expenses, net 4,339 $ 4,833 8,785 $ 10,063  
Operating expenses, unpaid [1],[5] 283   283   $ 214
Total reimbursable expenses [5] 283   283   214
Disposition fees, unpaid [2],[5] 0   0   0
Investment services fees unpaid [3],[5] 0   0   0
Asset management fees, unpaid [4],[5] 1,135   1,135   1,192
Total related amount unpaid [5] $ 1,418   $ 1,418   $ 1,406
[1] Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets.
[2] Amounts are recorded as a reduction to gain on sale of real estate included in interest and other income in the accompanying condensed consolidated statements of operations. Effective May 26, 2021, the disposition fee was reduced from 1.0% to 0.80% of the gross market capitalization of the Company upon the occurrence of a listing on a national securities exchange, or of the gross consideration paid to the Company or its stockholders upon the occurrence of any other liquidity event of the Company (including the sale of the Company or a portion thereof), or of the gross sales price upon the sale or transfer of one or more of its properties.
[3] For the six months ended June 30, 2022, the Company incurred approximately $0.1 million in investment services fees of which approximately $0.1 million, was capitalized and included in real estate assets, net in the accompanying condensed consolidated balance sheets. For the quarter and six months ended June 30, 2021, the Company did not incur any investment services fees.
[4] Effective May 26, 2021, the asset management fee was reduced from 1.0% per annum to 0.80% per annum of average invested assets.
[5] Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets.