Related Party Transactions

9 Months Ended

Sep. 30, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Related Party TransactionsWith the completion of the Company's merger with WHLR, the Company became a wholly-owned subsidiary of WHLR. WHLR performs property management and leasing services for the Company, pursuant to the Wheeler Real Estate Company Management Agreement. During the three and nine months ended September 30, 2023, the Company paid WHLR $0.7 million and

$1.1 million, respectively, for these services. During the three and nine months ended September 30, 2022, the Company paid WHLR $0.1 million for these services. The Operating Partnership and WHLR’s operating partnership, Wheeler REIT, L.P., are party to a cost sharing and reimbursement agreement, pursuant to which the parties agreed to share costs and expenses associated with certain employees, certain facilities and property, and certain arrangements with third parties (the “Cost Sharing Agreement”). The related party amounts due to WHLR as of September 30, 2023 and December 31, 2022 are comprised of:

	September 30,		December 31,
	2023		2022
2022 financings and real estate taxes	$	7,166,000	$	7,166,000
Management fees	220,000		110,000
Leasing commissions	555,000		85,000
Cost Sharing Agreement allocations (a)	424,000		—
Other	21,000		(33,000)
Total	$	8,386,000	$	7,328,000

(a)Includes allocations for executive compensation and directors' liability insurance. In 2022, WHLR did not make any allocations to the Company for these services due to certain limitations set forth in the Cost Sharing Agreement.