Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions:

Certain unconsolidated joint ventures have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses. The following are fees charged to unconsolidated joint ventures for the years ended December 31:


	2020		2019		2018
Management fees	$	15,297	$	18,748	$	19,752
Development and leasing fees	6,951		16,056		14,412
	$	22,248	$	34,804	$	34,164

Certain mortgage notes on the properties are held by NML. NML was considered a related party due to its ownership interest in Broadway Plaza until it sold its ownership interest in the property to a third party on October 12, 2018. Interest expense in connection with these notes, during the period that NML was a related party, was $6,653 for the year ended December 31, 2018.

Interest (income) expense from related party transactions also includes $(135,281), $(62,517) and $230 for the years ended December 31, 2020, 2019 and 2018, respectively, in connection with the Financing Arrangement (See Note 12—Financing Arrangement).

Due from affiliates includes $1,612 and $6,157 of unreimbursed costs and fees due from unconsolidated joint ventures under management agreements at December 31, 2020 and 2019, respectively.

In addition, due from affiliates included a note receivable from RED/303 LLC ("RED") that bore interest at 5.25% and was to mature on May 30, 2021. Interest income earned on this note was $0, $141 and $224 for the years ended December 31, 2020, 2019 and 2018, respectively. On October 7, 2019, the note was collected in full. RED was considered a related party because it was a partner in a joint venture development project. The note was collateralized by RED's membership interest in the development project.

Also included in due from affiliates was a note receivable from Lennar Corporation that bore interest at LIBOR plus 2% and was to mature upon the completion of certain milestones in connection with the planned development of Fashion Outlets of San Francisco. As a result of those milestones not being completed, the Company elected to terminate the development agreement and the note was collected in full on February 13, 2019. Interest income earned on this note was $0, $1,112 and $3,152 for the years ended December 31, 2020, 2019 and 2018, respectively. Lennar Corporation was considered a related party because it was a joint venture partner in the project.