RELATED PARTY TRANSACTIONS

The Company relies on the Advisor, a related party, to manage the Company’s day-to-day operating and acquisition activities and to implement the Company’s investment strategy pursuant to the terms of the third amended and restated advisory agreement, dated February 9, 2017 (the “Advisory Agreement”), by and among the Company, the BCI IV Operating Partnership LP (the “Operating Partnership”) and the Advisor. The Dealer Manager provides dealer manager services in connection with the Initial Public Offering pursuant to the terms of the amended and restated dealer manager agreement (the “Dealer Manager Agreement”), by and among the Company, the Advisor and the Dealer Manager. Black Creek Property Management Company LLC (the “Property Manager”) may perform certain property management services on behalf of the Company and the Operating Partnership. BCI IV Advisors Group LLC, the sponsor of the Company (the “Sponsor”), which owns the Advisor, is presently directly or indirectly majority owned by John A. Blumberg, James R. Mulvihill and Evan H. Zucker and/or their affiliates and the Sponsor and the Advisor are jointly controlled by Messrs. Blumberg, Mulvihill and Zucker and/or their affiliates. The Dealer Manager and the Property Manager are presently each directly or indirectly majority owned, controlled and/or managed by Messrs. Blumberg, Mulvihill and/or Zucker and/or their affiliates. Mr. Zucker is the Chairman of our board of directors. The Advisor, the Sponsor, the Dealer Manager and the Property Manager receive compensation in the form of fees and expense reimbursements for services relating to the Initial Public Offering and for the investment and management of the Company’s assets. See the 2016 Form 10-K for a description of the fees, expense reimbursements and other amounts payable to the Advisor, the Sponsor, the Dealer Manager and the Property Manager as of June 30, 2017. Other than as set forth below, the Company has not incurred any of these fees and expenses as of June 30, 2017. Effective as of July 1, 2017, the Advisory Agreement, the Dealer Manager Agreement and the Limited Partnership Agreement of the Operating Partnership were amended and restated. See “Note 6” for a description of the amended and restated agreements, including changes to the fees, expense reimbursements and other amounts payable to the Advisor, the Sponsor and the Dealer Manager.

Organization and Offering Expenses. Pursuant to the Advisory Agreement in effect as of June 30, 2017, the Company capped the amount that it reimbursed the Advisor and its affiliates for the Company’s cumulative organization expenses and the expenses of its public offerings at 2.0% of aggregate gross offering proceeds from the sale of shares in its public offerings, including from shares issued pursuant to its distribution reinvestment plan. As of June 30, 2017, the Advisor had paid $4,270,052 of offering costs and $117,864 of organization costs on behalf of the Company. As of June 30, 2017, the Company had reimbursed the Advisor $40,273 related to organization costs. As noted above, the Advisory Agreement was amended and restated effective as of July 1, 2017. See “Note 6” for a description of the changes to the terms concerning the reimbursement of organization and offering expenses to the Advisor.

Expense Support Agreement

On October 27, 2016, the Company entered into an Expense Support Agreement (the “Expense Support Agreement”) with the Operating Partnership and the Advisor. See the 2016 Form 10-K for a description of the Expense Support Agreement in effect for the six months ended June 30, 2017. On June 30, 2017, the Company amended and restated the Expense Support Agreement, which became effective as of July 1, 2017. See “Note 6” for a description of the terms of the amended and restated Expense Support Agreement.

The table below provides information regarding the fees deferred and expense support provided by the Advisor, pursuant to the Expense Support Agreement. As of June 30, 2017, the aggregate amount paid by the Advisor pursuant to the Expense Support Agreement was $840,468. No amounts had been reimbursed to the Advisor by the Company.



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2017		2016		2017		2016
Fees deferred	$	—	$	—	$	—	$	—
Other expenses supported	372,773		—		690,969		—
Total expense support from Advisor (1)	$	372,773	$	—	$	690,969	$	—


(1)	As of June 30, 2017, $221,755 of expense support was payable to the Company by the Advisor.