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Related Party Arrangements (Tables)
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Schedule of Non Cash Activity to Related Party

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

 

                     
   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
   (unaudited)   (unaudited)   (unaudited)   (unaudited) 
Amounts included in the Consolidated Statements of Operations                    
Costs incurred by our Manager and its affiliates (1)  $638   $657   $1,427   $1,327 
Management fees (2)   678    668    1,365    1,328 
Insurance (3)   329    102    490    208 
Director compensation   20    20    40    40 
Costs and expenses related parties  $1,665   $1,447   $3,322   $2,903 
                     
Capitalized costs included in the Consolidated Balance Sheets                    
Development fee and reimbursements  $803   $3,211   $1,881   $4,188 
Insurance (3)   1,358    473    1,922    990 
Other capitalized costs  $2,161   $3,684   $3,803   $5,178 

 

 

(1)

Includes wage, overhead and other reimbursements to our Manager and its affiliates, including our Sponsor, which are included in General and administrative expenses on the 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 on the consolidated balance sheets and are amortized monthly to either Property expenses on the consolidated statements of operations or Real estate under construction on the consolidated balance sheets as further described below.
Schedule of Due to Related Party

The following table presents a summary of amounts included in Due to affiliates in the consolidated balance sheets (amounts in thousands):

 

   June 30, 2024   December 31, 2023 
   (unaudited)     
Due to affiliates          
Management fees  $2,730   $1,365 
Development fees   1,646    6,129 
Employee cost sharing and reimbursements (1)   1,196    2,856 
Insurance   195    

—

 
Director compensation   20    20 
Due to affiliates  $5,787   $10,370 

 

 

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