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Related Party Arrangements (Tables)
 12 Months Ended
Dec. 31, 2024
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):

 

   2024   2023 
   Years Ended December 31, 
   2024   2023 
Amounts included in the Consolidated Statements of Operations          
Costs incurred by our Manager and its affiliates (1)  $3,128   $3,050 
Management fees (2)   2,705    2,693 
Insurance (3)   793    449 
Director compensation   80    80 
Costs and expenses related parties  $6,706   $6,272 
           
Capitalized costs included in the Consolidated Balance Sheets          
Development fee and reimbursements  $5,438   $7,324 
Insurance (3)   2,479    2,160 
Capitalized costs  $7,917   $9,484 

 

 

(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):

 

   2024   2023 
   December 31, 
   2024   2023 
Amounts Due to affiliates          
Management fees  $4,070   $1,365 
Development fees   2,546    6,129 
Employee cost sharing and reimbursements (1)   2,388    2,856 
Accrued interest   79    — 
Director compensation   20    20 
Amounts Due to affiliates  $9,103   $10,370 

 

 

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