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15. Related Party Transactions
The RLJ Predecessor paid monthly fees for management advisory services to the managing member of RLJ Development, which are included in general and administrative expense. Such fees amounted to $0.3 million and $0.9 million for the three and six months ended June 30, 2011, respectively and $0.6 million and $1.2 million for the three and six months ended June 30, 2010, respectively. Upon completion of the IPO and related formation transactions, the management fee obligation of the RLJ Predecessor ceased to exist.
RLJ Companies LLC, a related party, periodically pays certain amounts on the Company’s behalf. As of June 30, 2011 there was approximately $8,000 due to RLJ Companies, LLC, which was included in accounts payable and other expenses. At December 31, 2010, there was $0.1 million due to RLJ Companies, LLC, which was included in accounts payable and accrued expenses.
The RLJ Predecessor paid certain costs on the behalf of RLJ Development (Mexico), LLC, a related party through common-ownership, and RLJ Development (Mexico), LLC paid for certain amounts on the RLJ Predecessor’s behalf. At December 31, 2010, the amounts due from RLJ Development (Mexico), LLC were $0.7 million which were included in prepaid and other assets. The Company did not have any amount due from or payable to RLJ Development (Mexico), LLC at June 30, 2011.
For the three and six months ended June 30, 2011, the Company made charitable contributions totaling $0.1 million and $0.2 million, respectively, which are included in general and administrative expense. These charitable contributions were paid to various foundations and charitable organizations, of which $25,000 and $25,000 respectively, were directed by related parties. For the three and six months ended June 30, 2010, the Company made charitable contributions totaling $0.1 million and $0.2 million, respectively, which are included in general and administrative expense. These charitable contributions were paid to various foundations and charitable organizations, of which $25,000 and $50,000 respectively, were directed by related parties. |