RELATED-PARTY TRANSACTIONS (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Asset Management Fees Calculation

Pursuant to the Investment Management Agreement, the asset management fee prior to January 1, 2022 fee was calculated (without giving effect to the Fee Waiver) as a percentage of the daily average adjusted fair value of CIM Urban’s assets as follows (dollar amounts in thousands):


Daily Average Adjusted Fair Value of CIM Urban’s Assets
				Quarterly Fee Percentage
From Greater of		To and Including

$	—	$	500,000	0.2500%
$	500,000	$	1,000,000	0.2375%
$	1,000,000	$	1,500,000	0.2250%
$	1,500,000	$	4,000,000	0.2125%
$	4,000,000	$	20,000,000	0.1000%

The Company recorded fees and expense reimbursements as shown in the table below for services provided by related parties related to the services described above during the periods indicated (in thousands):


	Three Months Ended March 31,
	2025		2024
Asset Management Fees:
Asset management fees	$	360	$	394
Property Management Fees and Reimbursements:
Property management fees(1)	$	554	$	583
Onsite management and other cost reimbursements(2)	$	1,760	$	1,730
Leasing commissions(3)	$	129	$	55
Construction management fees(4)	$	232	$	52
Development management reimbursements(5)	$	402	$	422
Administrative Fees and Expenses:
Expense reimbursements to related parties - corporate	$	626	$	605
Lending Segment Expenses:
Expense reimbursements to related parties - lending segment(6)	$	659	$	563
Offering-Related Fees:
Upfront dealer manager and trailing dealer manager fees(7)	$	—	$	267
Non-issuance specific offering costs (8)	$	—	$	210

______________________

(1)Does not include the Company’s share of the property management fees from the Unconsolidated Joint Ventures of $20,000 and $25,000 for the three months ended March 31, 2025 and 2024, respectively.

(2)Does not include the Company’s share of the onsite management and other cost reimbursements from the Unconsolidated Joint Ventures of $91,000 and $107,000 for the three months ended March 31, 2025 and 2024, respectively.

(3)Does not include the Company’s share of the leasing commissions from the Unconsolidated Joint Ventures of $7,000 and $4,000 for the three months ended March 31, 2025 and 2024, respectively.

(4)Does not include the Company’s share of the construction management fees from the Unconsolidated Joint Ventures of $58,000 and $87,000 for the three months ended March 31, 2025 and 2024, respectively.

(5)Does not include the Company’s share of the development management reimbursements from the Unconsolidated Joint Ventures of $175,000 and $179,000 for the three months ended March 31, 2025 and 2024, respectively.

(6)Expense reimbursements to related parties - lending segment do not include personnel costs capitalized to deferred loan origination costs of $18,000 and $30,000 for the three months ended March 31, 2025 and 2024, respectively.

(7)Represents fees earned by CCO Capital and allocated to Series A1 Preferred Stock, Series A Preferred Stock and Series D Preferred Stock.

(8)As of March 31, 2025 and 2024, $0 and $230,000, respectively, was included in deferred costs as reimbursable expenses incurred pursuant to the Master Services Agreement and the then applicable dealer manager agreement with CCO Capital. These non-issuance specific costs are allocated against the gross proceeds from the sale of the Series A1 Preferred Stock, Series A Preferred Stock and Series D Preferred Stock on a pro rata basis for each issuance as a percentage of the total offering.

As of March 31, 2025 and December 31, 2024, due to related parties consisted of the following (in thousands):


	March 31, 2025		December 31, 2024
Asset management fees	$	1,763	$	1,403
Property management fees and reimbursements	10,612		8,237
Expense reimbursements - corporate	2,591		1,676
Expense reimbursements - lending segment	2,663		1,994
Upfront dealer manager and trailing dealer manager fees	183		186
Non-issuance specific offering costs	—		289
Other amounts due to the CIM Management Entities and certain of its affiliates	386		283
Total due to related parties	$	18,198	$	14,068