Related Party Transactions and Arrangements (Tables)

3 Months Ended

Mar. 31, 2020

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

The following table details amounts incurred, forgiven and payable in connection with the Company’s operations-related services described above as of and for the periods presented:



	Three Months Ended March 31,					Payable (Receivable) as of
	2020			2019
(In thousands)	Incurred			Incurred		March 31, 2020				December 31, 2019
Non-recurring fees and reimbursements:
Acquisition cost reimbursements	$	70		$	18	$	70			$	—
Ongoing fees and reimbursements:
Asset management fees	4,997			4,875		—				27
Property management fees	1,052			893		(30		)		(44		)
Professional fees and other reimbursements	2,493		⁽²⁾	2,875		(185		)	⁽³⁾	(377		)	⁽³⁾
Distributions on Class B Units⁽¹⁾	76			75		—				—
Total related party operation fees and reimbursements	$	8,688		$	8,736	$	(145	)		$	(394	)

_______________

⁽¹⁾

Prior to April 1, 2015, the Company caused the OP to issue (subject to periodic approval by the Board) to the Advisor restricted performance based Class B Units for asset management services. As of March 31, 2020, the Board had approved the issuance of 359,250 Class B Units to the Advisor in connection with this arrangement. Effective April 1, 2015, the Company began paying an asset management fee to the Advisor or its assignees in cash, in shares, or a combination of both and no longer issues any Class B Units.


⁽²⁾	Includes $1.7 million related to the Capped Reimbursement Amount for the three months ended March 31, 2020.

⁽³⁾

Balance includes a receivable of $0.4 million from the Advisor as of March 31, 2019 and $0.5 million at December 31, 2019, previously recorded in the fourth quarter of 2018, which, pursuant to authorization by the independent members of the Company’s board of directors, is payable over time during 2020. The first payment was received during the three months ended March 31, 2020.