Agreements and Transactions with Related Parties (Tables)

6 Months Ended

Jun. 30, 2014

The following tables present a summary of revenue earned and/or cash received from the Managed REITs for the periods indicated, included in the consolidated financial statements (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Reimbursable costs from affiliates	$	41,925	$	15,467	$	81,657	$	27,435
Structuring revenue	17,254		6,422		35,005		12,764
Distributions of Available Cash	5,235		8,677		15,681		16,568
Asset management revenue ^(a)	9,022		10,331		18,776		20,324
Dealer manager fees	7,949		2,320		14,626		3,542
Deferred revenue earned	—		2,123		786		4,246
Interest income on deferred acquisition fees and loans to affiliates	163		224		337		479
	$	81,548	$	45,564	$	166,868	$	85,358



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
CPA^®:16 – Global ^(b)	$	—	$	12,128	$	7,999	$	26,070
CPA^®:17 – Global ^(c)	16,645		14,617		32,472		29,609
CPA^®:18 – Global ^(c)	42,654		—		98,831		—
CWI ^(c)	22,249		18,819		27,566		29,679
	$	81,548	$	45,564	$	166,868	$	85,358

___________


(a)	Excludes amounts received from third parties.

(b)

Upon completion of the CPA^®:16 Merger on January 31, 2014, the advisory agreement with CPA^®:16 – Global terminated. Pursuant to the terms of the merger agreement, the incentive or termination fee that we would have been entitled to receive from CPA^®:16 – Global pursuant to the terms of their advisory agreement was waived upon the completion of the CPA^®:16 Merger. The amount shown for the six months ended June 30, 2014 reflects transactions through January 31, 2014.


(c)	The current form of the advisory agreement is scheduled to expire on September 30, 2014, unless renewed pursuant to its terms.

Schedule of Balances Due to and From Related Party

The following table presents a summary of amounts Due from affiliates (in thousands):



	June 30, 2014		December 31, 2013
Deferred acquisition fees receivable	$	18,515	$	19,684
Note receivable from CWI, including interest thereon	11,002		—
Accounts receivable	3,623		3,716
Current acquisition fees receivable	3,242		4,149
Organization and offering costs	1,926		2,700
Reimbursable costs	1,208		334
Asset management fee receivable	—		1,451
	$	39,516	$	32,034

Reconciliation of Redeemable Securities

The following table presents a reconciliation of our Redeemable securities – related party (in thousands):



	Six Months Ended June 30,
	2014		2013
Beginning balance	$	—	$	40,000
Redemption of securities	—		(40,000		)
Ending balance	$	—	$	—