Related Party Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Note 11. Related Party Transactions

With 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. During the three and six months ended June 30, 2023, the Company paid WHLR $0.0 million and $0.4 million, respectively, 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 June 30, 2023 and December 31, 2022 are comprised of:

	June 30,		December 31,
	2023		2022
2022 financings and real estate taxes	$	7,166,000	$	7,166,000
Management fees		533,000		110,000
Leasing commissions		418,000		85,000
Cost Sharing Agreement allocations (a)		322,000		—
Other		117,000		(33,000	)
Total	$	8,556,000	$	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.