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v3.23.1

Related Party Transactions (Tables) | 3 Months Ended
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Mar. 31, 2023
Related Party Transactions [Abstract] |
Schedule of Amount Contractually Due and Forgiven in Connection with Operation Related Services | The following table reflects related party fees incurred and contractually due as of and for the periods presented:
|  | Three Months Ended March 31, |  |  |  |  |  |
|  | 2023 |  |  |  | 2022 |  |  |  |  |  |
(In thousands) |  | Incurred |  |  |  | Incurred |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ongoing fees (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset management fees (2) |  | $ | 8,364 |  |  |  |  | $ | 8,239 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property management fees |  | 1,737 |  |  |  |  | 1,837 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total related party operational fees and reimbursements |  | $ | 10,101 |  |  |  |  | $ | 10,076 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
______________ (1)The Company incurred general and administrative costs and other expense reimbursements of approximately $0.3 million and $0.4 million for the three months ended March 31, 2023 and 2022, respectively, which are recorded within general and administrative expenses in the consolidated statements of operations and are not reflected in the table above. (2)The Advisor, in accordance with the Advisory Agreement, received asset management fees in cash each quarter 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 $3.9 million and $3.7 million for the three months ended March 31, 2023 and 2022, respectively.

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