Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services

The following table reflects related party fees incurred, forgiven and contractually due as of and for the periods presented:



	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018				Payable as of
(In thousands)	Incurred		Forgiven		Incurred		Forgiven		Incurred		Forgiven		Incurred		Forgiven		June 30, 2019		December 31, 2018
One-time fees and reimbursements:
Fees on gain from sale of investments	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	49	⁽²⁾
Ongoing fees ⁽³⁾:
Asset management fees ⁽¹⁾	6,694		—		5,658		—		13,365		—		11,315		—		—		—
Property management fees	1,468		—		1,132		—		2,840		—		2,303		—		—		—
Total related party operational fees and reimbursements	$	8,162	$	—	$	6,790	$	—	$	16,205	$	—	$	13,618	$	—	$	—	$	49

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⁽¹⁾

The Advisor, in accordance with the Advisory Agreement, received asset management fees in cash equal to one quarter of the annual Minimum Base Management Fee of $18.0 million and the Variable Base Management Fee. The Variable Base Management Fee was $2.2 million and $4.4 million for the three and six months ended June 30, 2019, respectively. The Variable Base Management Fee was $1.2 million and $2.3 million for the three and six months ended June 30, 2018, respectively.


⁽²⁾	Balance included within due to related parties on the consolidated balance sheets as of June 30, 2019 and December 31, 2018.


⁽³⁾	The Company incurred general and administrative costs and other expense reimbursements of approximately $0.6 million and $0.2 million for the six months ended June 30, 2019 and 2018, respectively, which are recorded within general and administrative expenses on the audited consolidated statements of operations and are not reflected in the table above.