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):
Schedule of Non Cash Activity to Related Party
| | |
2026 | | |
2025 | |
| | |
Three
Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
(unaudited) | | |
(unaudited) | |
| Amounts included in the Consolidated Statements of
Operations | |
| | | |
| | |
| Costs
incurred by our Manager and its affiliates (1) | |
$ | 890 | | |
$ | 747 | |
| Management
fees (2) | |
| 849 | | |
| 825 | |
| Insurance
(3) | |
| 296 | | |
| 122 | |
| Property
management oversight fees (2) | |
| 54 | | |
| — | |
| Director compensation | |
| 21 | | |
| 20 | |
| Costs and expenses related
parties | |
$ | 2,110 | | |
$ | 1,714 | |
| | |
| | | |
| | |
| Capitalized costs included in the Consolidated Balance
Sheets | |
| | | |
| | |
| Development fee and reimbursements | |
$ | 54 | | |
$ | 1,167 | |
| Insurance
(3) | |
| 12 | | |
| 544 | |
| Capitalized costs | |
$ | 66 | | |
$ | 1,711 | |
| (1) | Includes
wage, overhead and other reimbursements to our Manager and its affiliates, including our
Sponsor, and certain of our Sponsor’s subsidiaries, associates and affiliates (collectively,
the “Sponsor Group”). Such costs 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 on the consolidated balance
sheets and are amortized monthly to either Property expenses or General and administrative
in our consolidated statements of operations or Real estate under construction on the consolidated
balance sheets based on the nature of the insurance coverage. |
|