Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2020

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

The following table reflects related party fees incurred, forgiven and contractually due as of and for the periods presented:


	Three Months Ended September 30,								Nine Months Ended September 30,
	2020				2019				2020				2019				Payable as of
(In thousands)	Incurred		Forgiven		Incurred		Forgiven		Incurred		Forgiven		Incurred		Forgiven		September 30, 2020		December 31, 2019
One-time fees and reimbursements:
Fees on gain from sale of investments	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Ongoing fees (1):
Asset management fees (2)	7,383		—		6,758		—		22,136		—		20,123		—		—		—
Property management fees	1,532		—		1,462		—		4,447		—		4,302		—		—		—
Incentive compensation	24		—		—		—		24		—		—		—		24		—
Total related party operational fees and reimbursements	$	8,939	$	—	$	8,220	$	—	$	26,607	$	—	$	24,425	$	—	$	24	$	—

______________

(1)The Company incurred general and administrative costs and other expense reimbursements of approximately $0.7 million and $0.8 million for the nine months ended September 30, 2020 and 2019, respectively, which are recorded within general and administrative expenses in the consolidated statements of operations and are not reflected in the table above.

(2)The Advisor, in accordance with the Advisory Agreement, received asset management fees in cash each quarter equal to one quarter of the annual Minimum Base Management Fee of $18.0 million and the Variable Base Management Fee for the respective three months ended. The Variable Base Management Fee was $2.9 million and $2.3 million for the three months ended September 30, 2020 and 2019, respectively, and $8.6 million and $6.6 million for the nine months ended September 30, 2020 and 2019, respectively.