Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties |
The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income (loss) from discontinued operations, for the three months ended March 31, 2019 and 2018, and related amounts unpaid as of March 31, 2019 and December 31, 2018 are as follows (in thousands):
|
|
Three Months Ended |
|
|
Unpaid amounts as of (1) |
|
|
|
March 31, |
|
|
March 31, |
|
|
December 31, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Reimbursable expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses (2) |
|
$ |
1,268 |
|
|
$ |
1,624 |
|
|
$ |
995 |
|
|
$ |
722 |
|
|
|
|
1,268 |
|
|
|
1,624 |
|
|
|
995 |
|
|
|
722 |
|
Financing coordination fees (3) |
|
|
201 |
|
|
― |
|
|
― |
|
|
― |
|
Property management fees (4) |
|
― |
|
|
|
1,168 |
|
|
― |
|
|
― |
|
Asset management fees (5) |
|
|
7,597 |
|
|
|
7,597 |
|
|
|
2,531 |
|
|
|
2,533 |
|
|
|
$ |
9,066 |
|
|
$ |
10,389 |
|
|
$ |
3,526 |
|
|
$ |
3,255 |
|
FOOTNOTES:
|
(1) |
Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets. |
|
(2) |
Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets. |
|
(3) |
For the three months ended March 31, 2019, the Company incurred approximately $0.2 million in financing coordination fees, which was capitalized and included in its investment in the Windsor Manor Joint Venture. There were no financing coordination fees for the three months ended March 31, 2018. |
|
(4) |
No property management fees were payable to the Property Manager for the three months ended March 31, 2019 as the property management agreement was not renewed beyond its expiration date in June 2018. |
|
(5) |
No expense support was estimated or received for the three months ended March 31, 2019 and 2018. |
|