RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2023

Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the years ended December 31, 2023, 2022 and 2021, respectively, and any related amounts payable as of December 31, 2023 and

2022 (in thousands):


	Incurred During the Year Ended December 31,						Payable as of December 31,
	2023		2022		2021		2023		2022
Expensed
Asset management fees to affiliate	$	15,415	$	13,678	$	14,012	$	6,855	$	2,618
Property management fees (1)	2,883		1,267		479		153		181
Disposition fees (2)	1,255		1,294		1,196		—		—
Capitalized
Acquisition fees on real estate (3)	—		67		20		—		—
Acquisition fee on investment in unconsolidated entities	—		—		46		—		—
Reimbursable offering costs (4)	894		—		—		894		—

	$	20,447	$	16,306	$	15,753	$	7,902	$	2,799

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(1) Property management fees related to DMH Realty are recorded as operating, maintenance, and management expenses in the accompanying consolidated statements of operations.

(2) Disposition fees with respect to real estate properties sold are recorded as a component of the gain or loss on sale of real estate in the accompanying consolidated statements of operations.

(3) Acquisition fees associated with asset acquisitions are capitalized, while costs associated with business combinations are expensed as incurred.

(4) Reimbursable offering costs to the Advisor related to the Private Offering are capitalized and recorded as prepaid expenses and other assets in the accompanying consolidated balance sheet.