Related-Party Transactions (Tables)

6 Months Ended

Jun. 30, 2017

Property Management Agreement and Asset Management Agreement

Total fees incurred under the Property Management Agreement and Asset Management Agreement for the three months and six months ended June 30, 2017 and 2016 are as follows:

(in thousands)		For the three months ended June 30,				For the six months ended June 30,
Type of Fee	Financial Statement Presentation	2017		2016		2017		2016
Asset management fee	Asset management fees	$	3,629	$	2,610	$	6,822	$	4,981
Property management fee	Property management fees		1,218		974		2,386		1,853
Total management fee expense			4,847		3,584		9,208		6,834

Marketing fee	Additional paid-in capital		391		322		802		658
Acquisition fee	Capitalized as a component of assets acquired in 2017 (See Note 4) and included as acquisition expenses in 2016		1,032		1,896		1,929		2,456
Leasing fee	Leasing fees, net		899		1,869		1,796		2,003
Disposition fee	Gain on sale of real estate		240		17		303		38
Total management fees		$	7,409	$	7,688	$	14,038	$	11,989

Legal Services

Schedule of Related Party Transactions

The following table details the type of legal fees incurred from VNN for the three months and six months ended June 30, 2016:

(in thousands)
Type of Fee	Financial Statement Presentation	For the three months ended June 30, 2016		For the six months ended June 30, 2016
Legal services – general	General and administrative	$	76	$	169
Organization costs	General and administrative		4		14
			80		183

Finance related	Debt issuance costs^(a)		45		45
Acquisition related fees	Acquisition expenses		1,050		1,667
Legal services - tenant related	Property and operating expenses		12		12
Total related party legal expenses		$	1,187	$	1,907

(a)	Amounts are recorded within Debt issuance costs – unsecured revolver, net, Mortgage and notes payable, net, and Unsecured term notes, net, on the accompanying Condensed Consolidated Balance Sheets.