Related Party Transactions and Arrangements (As Restated) (Tables)

3 Months Ended

Mar. 31, 2014

The following table summarizes the related party fees and expenses incurred by the Company, ARCT III and ARCT IV by category and the aggregate amounts contained in such categories for the periods presented (in thousands):


	Three Months Ended March 31,
	2014		2013
Related party transactions:
Expenses and capitalized costs:
Financing fees and reimbursements	$	—	$	7,500
Offering related costs		150		135,988
Acquisition related expenses		1,539		6,963
Merger and other non-routine transactions		137,738		106,680
Management fees to affiliates		13,888		12,493
General and administrative expenses		15,592		5,209
Indirect affiliate expenses		498		—
Cole Capital revenues:
Cole Capital offering related revenue		42,453		—
Cole Capital operating revenue		11,804		—

Total	$	223,662	$	274,833

Offering Related Costs [Member]

Schedule of Related Party Transactions

The Company, ARCT III and ARCT IV recorded commissions, fees and offering cost reimbursements as shown in the table below for services provided to the Company, ARCT III and ARCT IV, as applicable, by affiliates of the Former Manager during the periods indicated (in thousands):


	Three Months Ended March 31,
	2014		2013
Offering related costs:
Commissions and fees	$	150	$	125,932
Offering costs and other reimbursements		—		10,056

Total	$	150	$	135,988

Merger And Other Non-Routine Transactions [Member]

Schedule of Related Party Transactions

The table below shows fees and expenses attributable to each merger and other non-routine transaction during the three months ended March 31, 2014 (in thousands):


	Three Months Ended March 31, 2014
	ARCT IV Merger		Internalization and other		Cole Merger		Multi-tenant Spin-Off		Total
Merger related costs:
Strategic advisory services	$	8,400	$	—	$	17,115	$	1,750		27,265
Personnel costs and other reimbursements		—		—		72		—		72
Other non-routine transactions:
Subordinated distribution fees		78,244		—		—		—		78,244
Furniture, fixtures and equipment		5,800		10,000		—		—		15,800
Other fees and expenses		—		—		2,900		—		2,900
Personnel costs and other reimbursements		417		—		1,688		—		2,105
Post-transaction support services		1,352		10,000		—		—		11,352

Total	$	94,213	$	20,000	$	21,775	$	1,750	$	137,738

The table below shows fees and expenses attributable to the ARCT III Merger and other non-routine transactions during the three months ended March 31, 2013 (in thousands):


	Three Months Ended March 31, 2013
	ARCT III Merger
Merger related costs:
Legal fees and expenses	$	125
Personnel costs and other reimbursements		334
Other non-routine transactions:
Subordinated distribution fees		98,360
Furniture, fixtures and equipment		5,800
Post-transaction support services		2,000
Legal fees and expenses		61

Total	$	106,680

Management Fees To Affiliates [Member]

Schedule of Related Party Transactions

The Company, ARCT III and ARCT IV recorded fees and reimbursements as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


	Three Months Ended March 31,
	2014		2013
Management fees to affiliates:
Asset management fees	$	13,888	$	11,693
Property management fees		—		800

Total	$	13,888	$	12,493

General and Administrative Expense [Member]

Schedule of Related Party Transactions

The Company, ARCT III and ARCT IV recorded general and administrative expenses as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


	Three Months Ended March 31,
	2014		2013
General and administrative expenses:
Advisory fees and reimbursements	$	1,518	$	2,601
Equity awards		14,074		2,608

Total	$	15,592	$	5,209

Indirect Affiliate Expenses [Member]

Schedule of Related Party Transactions

These expenses are depicted in the table below for the periods indicated (in thousands):


	Three Months Ended March 31, 2014
Indirect affiliate expenses:
Audrain building	$	405
New York (405 Park Ave) office		71
Dresher, PA office		19
North Carolina office		3

Total	$	498

Due To Affiliate [Member]

Schedule of Related Party Transactions

Due to affiliates, as reported in the accompanying consolidated balance sheets, is comprised of the following amounts discussed above (in thousands):


	March 31, 2014		December 31, 2013
	(as Restated)		(as Restated)
Due to affiliates:
Offering related costs	$	150	$	220
Merger and other non-routine transactions		1,847		38,645
General and administrative		443		59,600
Indirect affiliate costs		12		—
Managed REITs and other		162		—
Management fees to affiliates		—		4,969

Total	$	2,614	$	103,434

Offering Related Revenues [Member]

Schedule of Related Party Transactions

The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided to the Managed REITs (as described above) during the period from the Cole Acquisition Date to March 31, 2014 (in thousands). As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


	Period from the Cole Acquisition Date to March 31, 2014
	CCPT IV		CCPT V		CCIT		CCIT II		INAV		Total
Offering:
Selling commission revenue	$	29,125	$	—	$	—	$	371	$	21	$	29,517
Selling commissions reallowance expense	$	29,125	$	—	$	—	$	371	$	21	$	29,517
Dealer-manager and distribution fee revenue	$	8,773	$	—	$	—	$	114	$	65	$	8,952
Dealer-manager fees reallowance expense	$	4,864	$	—	$	—	$	53	$	2	$	4,919
Other expense reimbursement revenue	$	3,767	$	50	$	—	$	114	$	53	$	3,984

Operating Revenues [Member]

Schedule of Related Party Transactions

As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


	Period from the Cole Acquisition Date to March 31, 2014
	CCPT IV		CCPT V		CCIT		CCIT II		INAV		Other		Total
Operations:
Acquisition fee revenue	$	3,998	$	66	$	495	$	—	$	—	$	—	$	4,559
Asset management fee revenue	$	—	$	—	$	—	$	—	$	—	$	151	$	151
Property management and leasing fee revenue	$	—	$	—	$	—	$	—	$	—	$	290	$	290
Operating expense reimbursement revenue	$	1,065	$	17	$	429	$	—	$	—	$	—	$	1,511
Advisory and performance fee revenue	$	2,564	$	—	$	2,595	$	26	$	108	$	—	$	5,293

Investment In The Managed REITs [Member]

Schedule of Related Party Transactions

The table below presents certain information related to the Company’s investments in the Managed REITs as of March 31, 2014 (carrying amount in thousands):


	March 31, 2014
Managed REIT	% of Outstanding Shares Owned			Carrying Amount of Investment
CCPT		0.01	%	$	5
CCPT IV		0.01	%		140
CCPT V		100.00	%		2,517
CCIT		0.01	%		97
CCIT II		33.14	%		2,139
INAV		0.28	%		163

				$	5,061