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Related Party Arrangements (Tables)
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Schedule of Non Cash Activity to Related Party

The following table summarizes the fees incurred on our behalf by, and expenses reimbursable to, our Manager and its affiliates, including our Sponsor, in accordance with the terms of our relevant agreements with such parties (amounts in thousands):

 

   2023   2022 
   Years Ended December 31, 
   2023   2022 
Amounts included in the Consolidated Statements of Operations          
Costs incurred by our Manager and its affiliates (1)  $3,050   $2,349 
Management fees (2)   2,693    2,583 
Insurance (3)   449    419 
Director compensation   80    80 
Costs incurred by the manager and its affiliates  $6,272   $5,431 
           
Capitalized costs included in the Consolidated Balance Sheets          
Development fee and reimbursements  $7,324   $5,649 
Insurance (3)   2,160    1,631 
Total capitalized costs  $9,484   $7,280 

 

 

(1) Includes wage, overhead and other reimbursements to our Manager and its affiliates, including our Sponsor, which are included in General and administrative in our consolidated statements of operations.
   
(2) Included in Property expenses in our consolidated statements of operations.
   
(3) Our insurance premiums are prepaid and are included in Other assets in our consolidated balance sheets and are amortized monthly to either Property expenses in our consolidated statements of operations or Real estate under construction in our consolidated balance sheets.
Schedule of Due to Related Party

The following table summarizes amounts included in Due to affiliates in our consolidated balance sheets (amounts in thousands):

 

   2023   2022 
   December 31, 
   2023   2022 
Amounts Due to affiliates          
Development fees  $6,129   $4,256 
Employee cost sharing and reimbursements (1)   2,856    866 
Management fees   1,365    661 
Director compensation   20    20 
Due to affiliates  $10,370   $5,803 

 

 

(1) Includes wage, overhead and other reimbursements to our Manager and its affiliates, including our Sponsor.