Related Party Transactions and Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

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

The following table details amounts incurred and payable to related parties in connection with the operations-related services described above as of and for the periods presented. Amounts below are inclusive of fees and other expense reimbursements incurred from and due to the Advisor that are passed through and ultimately paid to Lincoln as a result of the Advisor’s arrangements with Lincoln:



	Year Ended December 31,						Payable (Receivable) as of December 31,
(In thousands)	2019		2018		2017		2019				2018
One-time fees and reimbursements:
Acquisition related cost reimbursements ^[1]	$	241	$	318	$	180	$	53			$	70
Vesting and conversion of Class B Units	—		15,786		—		—				—
Ongoing fees:
Asset management fees to related party	25,695		23,143		20,908		9				95
Property management and leasing fees^[2]	9,921		9,620		7,167		1,153				1,272
Professional fees and other reimbursements ^[3]	9,732		9,314		8,540		(565		)	^[5]	1,197		^{[4] [5]}
Distributions on Class B Units ^{[3] [6]}	—		736		1,551		—				—
Total related party operation fees and reimbursements	$	45,589	$	58,917	$	38,346	$	650			$	2,634

^__________


^[1]	Amounts included in acquisition and transaction related expenses in the consolidated statements of operations and comprehensive loss.


^[2]	Amounts included in property operating expenses in the consolidated statements of operations and comprehensive loss.

^[3]

Amounts included in general and administrative expense in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company recorded a reduction of general and administrative expenses in the amount of $0.8 million related to the reversal of a payable balance at December 31, 2018 due to American National Stock Transfer, LLC, a subsidiary of RCS Capital Corporation (“RCAP”), which at the time the payable balance was recorded and prior to its bankruptcy filing was under common control with the Advisor. RCAP was also the parent company of Realty Capital Securities, LLC, the dealer manager in the Company’s initial public offering.


^[4]	Balance includes costs which were incurred and accrued due to RCAP in the amount of $0.8 million as of December 31, 2018. These costs were recognized as income within the general and administrative in the consolidated statements of operations and comprehensive loss during the year ended December 31, 2019.


^[5]	Balance includes a receivable of $0.7 million from the Advisor as of 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.

^[6]

Subsequent to the Listing the Class B Units were fully vested and converted to Class A Units, which were then redeemed for shares of Class A common stock. Distributions with respect to shares of Class A common stock are treated as equity distributions whereas distributions with respect to Class B Units were treated as additional compensation and expensed.