v3.20.2
Related-Party Transactions (Tables)
6 Months Ended
Jun. 30, 2020
Property Management Agreement and Asset Management Agreement  
Schedule of Related Party Transactions

Total fees incurred under the Property Management Agreement and Asset Management Agreement were as follows:

 

(in thousands)

 

 

 

For the three months ended

June 30,

 

 

For the six months ended

June 30,

 

Type of Fee

 

Financial Statement Presentation

 

2020(a)

 

 

2019

 

 

2020(a)

 

 

2019

 

Asset management fee

 

Asset management fees

 

$

 

 

$

5,318

 

 

$

2,461

 

 

$

10,438

 

Property management fee

 

Property management fees

 

 

 

 

 

1,935

 

 

 

1,275

 

 

 

3,820

 

Total management fee expense

 

 

 

 

 

 

 

7,253

 

 

 

3,736

 

 

 

14,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketing fee (offering costs)

 

Additional paid-in capital

 

 

 

 

 

300

 

 

 

 

 

 

600

 

Acquisition fee

 

Capitalized as a component of assets acquired

 

 

 

 

 

1,275

 

 

 

 

 

 

2,005

 

Leasing fee and re-leasing fees

 

Leasing fees, net

 

 

 

 

 

177

 

 

 

 

 

 

435

 

Disposition fee

 

Gain on sale of real estate

 

 

 

 

 

238

 

 

 

109

 

 

 

351

 

Total management fees

 

 

 

$

 

 

$

9,243

 

 

$

3,845

 

 

$

17,649

 

(a)

Fees were payable under the Property Management Agreement and Asset Management Agreement from January 1, 2020 through February 6, 2020. The Internalization was effective February 7, 2020.