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Agreements and Transactions with Related Parties (Tables)
9 Months Ended
Sep. 30, 2014
Agreements and Transactions with Related Parties  
Schedule of Company's base management fees and incentive fees

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

Management Fees:

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

Base (1)

 

$

2,450,000 

 

$

2,800,000 

 

$

7,400,000 

 

$

8,400,000 

 

Incentive (2)

 

 

 

 

 

Total management fee

 

$

2,450,000 

 

$

2,800,000 

 

$

7,400,000 

 

$

8,400,000 

 

 

 

(1)

At September 30, 2014 and 2013, $2.0 million and $2.5 million, respectively, of base management fees were included in due to related party.

 

(2)

During the third quarter of 2014, the Company recognized a $19.0 million prepaid incentive management fee related to the recognition of deferred revenue. See below for further details.