Related Party Transactions and Arrangements (Tables)

6 Months Ended

Jun. 30, 2015

The following table summarizes the related party Cole Capital revenues earned by the Company by category and the aggregate amounts contained in such categories for the periods presented (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Cole Capital revenues:
Cole Capital offering related revenue	$	5,516	$	9,969	$	8,633	$	52,422
Cole Capital operating revenue	21,013		27,253		45,390		39,057
Total Cole Capital revenues	$	26,529	$	37,222	$	54,023	$	91,479

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Expenses and capitalized costs:
Offering related costs	$	—	$	2,000	$	—	$	2,150
Acquisition related expenses	—		113		—		1,652
Merger and other non-routine transaction related costs	—		40		—		137,778
Management fees to affiliates	—		—		—		13,888
General and administrative expenses	—		437		—		16,029
Indirect affiliate expenses	—		3,997		—		4,495
Total expenses and capitalized costs	$	—	$	6,587	$	—	$	175,992

Merger And Other Non-Routine Transactions [Member]

Schedule of Related Party Transactions

The tables below shows fees and expenses attributable to each merger and other non-routine transactions during the three and six months ended June 30, 2014 (in thousands):



	Three Months Ended June 30, 2014
	ARCT IV Merger		Internalization and Other		Cole Merger		Multi-tenant Spin Off		Total
Other non-routine transaction related costs:
Personnel costs and other reimbursements	$	—	$	—	$	40	$	—	$	40

	Six Months Ended June 30, 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 transaction related costs:
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		—		1,728		—		2,145
Post-transaction support services	1,352		10,000		—		—		11,352
Total Merger and Other Non-Routine Transaction Related Costs	$	94,213	$	20,000	$	21,815	$	1,750	$	137,778

General and Administrative Expense [Member]

Schedule of Related Party Transactions

The Company 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 and ARCT IV during the periods indicated (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
General and administrative expenses:
Advisory fees and reimbursements	$	—	$	437	$	—	$	1,955
Equity awards	—		—		—		14,074
Total	$	—	$	437	$	—	$	16,029

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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Indirect affiliate expenses:
Audrain building	$	—	$	3,517	$	—	$	3,922
ANST office build-out	—		335		—		335
New York (405 Park Ave.) office	—		116		—		187
Dresher, PA office	—		17		—		36
North Carolina office	—		12		—		15
Total	$	—	$	3,997	$	—	$	4,495

Commissions, Fees and Expense Reimbursements [Member]

Schedule of Related Party Transactions

The tables below reflect financial data for the three and six months ended June 30, 2015, the three months ended June 30, 2014 and the period from the date the Cole Merger was consummated, February 7, 2014, (the “Cole Acquisition Date”) to June 30, 2014 (in thousands):



	For the Three Months Ended June 30, 2015
	CCPT V			CCIT II			INAV			Total
Offering:
Selling commission revenue	$	678		$	2,535		$	30		$	3,243
Selling commissions reallowance expense	$	(678	)	$	(2,535	)	$	(30	)	$	(3,243	)
Dealer manager and distribution fee revenue	$	207		$	759		$	202		$	1,168
Dealer manager and distribution fees reallowance expense	$	(84	)	$	(336	)	$	(47	)	$	(467	)
Other expense reimbursement revenue	$	225		$	800		$	80		$	1,105

	For the Six Months Ended June 30, 2015
	CCPT V			CCIT II			INAV			Total
Offering:
Selling commission revenue	$	1,214		$	3,761		$	43		$	5,018
Selling commissions reallowance expense	$	(1,214	)	$	(3,761	)	$	(43	)	$	(5,018	)
Dealer manager and distribution fee revenue	$	374		$	1,118		$	392		$	1,884
Dealer manager and distribution fees reallowance expense	$	(145	)	$	(487	)	$	(91	)	$	(723	)
Other expense reimbursement revenue	$	421		$	1,195		$	115		$	1,731



	For the Three Months Ended June 30, 2014
	CCPT IV ⁽¹⁾			CCPT V			CCIT II			INAV			Total
Offering:
Selling commission revenue	$	(12	)	$	1,347		$	4,579		$	195		$	6,109
Selling commissions reallowance expense	$	12		$	(1,347	)	$	(4,579	)	$	(195	)	$	(6,109	)
Dealer manager and distribution fee revenue	$	(2	)	$	416		$	1,372		$	123		$	1,909
Dealer manager and distribution fees reallowance expense	$	(107	)	$	(178	)	$	(668	)	$	(6	)	$	(959	)
Other expense reimbursement revenue	$	(18	)	$	415		$	1,372		$	182		$	1,951
_______________________________________________
(1) Negative revenue balances are due to net cancellations during the quarter of shares sold prior to the fund closing on April 4, 2014.

	Period from the Cole Acquisition Date to June 30, 2014
	CCPT IV			CCPT V			CCIT II			INAV			Total
Offering:
Selling commission revenue	$	29,113		$	1,347		$	4,950		$	216		$	35,626
Selling commissions reallowance expense	$	(29,113	)	$	(1,347	)	$	(4,950	)	$	(216	)	$	(35,626	)
Dealer manager and distribution fee revenue	$	8,771		$	416		$	1,486		$	188		$	10,861
Dealer manager and distribution fees reallowance expense	$	(4,971	)	$	(178	)	$	(721	)	$	(8	)	$	(5,878	)
Other expense reimbursement revenue	$	3,749		$	465		$	1,486		$	235		$	5,935

Fees and Expense Reimbursements [Member]

Schedule of Related Party Transactions

The Company recorded fees and expense reimbursements as shown in the tables below for services provided primarily to the Managed REITs and the CCIT disposition fees (as described above). The tables below reflect financial data for the three and six months ended June 30, 2015, the three months ended June 30, 2014 and the period from the Cole Acquisition Date to June 30, 2014 (in thousands):



	For the Three Months Ended June 30, 2015
	CCPT IV		CCPT V		CCIT ⁽¹⁾			CCIT II		INAV		Other		Total
Operations:
Acquisition and disposition fee revenue	$	3,814	$	368	$	—		$	10	$	—	$	2,224	$	6,416
Acquisition expense reimbursements	$	281	$	168	$	(6	)	$	99	$	78	$	—	$	620
Asset management fee revenue	$	—	$	—	$	—		$	—	$	—	$	188	$	188
Property management and leasing fee revenue	$	—	$	—	$	—		$	—	$	—	$	183	$	183
Operating expense reimbursement revenue	$	1,958	$	554	$	(14	)	$	605	$	—	$	—	$	3,103
Advisory and performance fee revenue	$	7,764	$	820	$	—		$	1,210	$	709	$	—	$	10,503
(1) Negative reimbursement balances are due to adjustments, subsequent to the fund closing on April 4, 2014, which are related to CCIT’s allocation of the 2014 discretionary bonus.

	For the Six Months Ended June 30, 2015
	CCPT IV		CCPT V		CCIT			CCIT II		INAV		Other		Total
Operations:
Acquisition and disposition fee revenue	$	7,307	$	1,363	$	4,350		$	10	$	—	$	3,075	$	16,105
Acquisition expense reimbursements	$	522	$	408	$	15		$	143	$	103	$	—	$	1,191
Asset management fee revenue	$	—	$	—	$	—		$	—	$	—	$	414	$	414
Property management and leasing fee revenue	$	—	$	—	$	—		$	—	$	—	$	378	$	378
Operating expense reimbursement revenue	$	3,648	$	798	$	325		$	850	$	—	$	—	$	5,621
Advisory and performance fee revenue	$	15,148	$	1,577	$	1,557		$	2,406	$	993	$	—	$	21,681



	For the Three Months Ended June 30, 2014
	CCPT IV		CCPT V		CCIT		CCIT II		INAV		Other		Total
Operations:
Acquisition fee revenue	$	6,787	$	519	$	3,232	$	3,874	$	—	$	—	$	14,412
Acquisition expense reimbursements	$	378	$	130	$	61	$	—	$	135	$	—	$	704
Asset management fee revenue	$	—	$	—	$	—	$	—	$	—	$	253	$	253
Property management and leasing fee revenue	$	—	$	—	$	—	$	—	$	—	$	285	$	285
Operating expense reimbursement revenue	$	1,159	$	37	$	695	$	79	$	—	$	—	$	1,970
Advisory and performance fee revenue	$	4,747	$	8	$	4,561	$	115	$	198	$	—	$	9,629

	Period from the Cole Acquisition Date to June 30, 2014
	CCPT IV		CCPT V		CCIT		CCIT II		INAV		Other		Total
Operations:
Acquisition fee revenue	$	10,785	$	585	$	3,727	$	3,874	$	—	$	—	$	18,971
Acquisition expense reimbursements	$	614	$	147	$	116	$	—	$	135	$	—	$	1,012
Asset management fee revenue	$	—	$	—	$	—	$	—	$	—	$	404	$	404
Property management and leasing fee revenue	$	—	$	—	$	—	$	—	$	—	$	575	$	575
Operating expense reimbursement revenue	$	1,988	$	37	$	1,068	$	80	$	—	$	—	$	3,173
Advisory and performance fee revenue	$	7,311	$	8	$	7,156	$	141	$	306	$	—	$	14,922

Investments In Managed Real Estate Investment Trusts [Member]

Schedule of Related Party Transactions

The table below presents certain information related to the Company’s investments in the Managed REITs as of June 30, 2015 (carrying amount in thousands):



	June 30, 2015
Managed REIT	% of Outstanding Shares Owned	Carrying Amount of Investment
CCPT IV	<0.01%	$	126
CCPT V	1.50%	1,759
CCIT II	0.96%	1,672
INAV	0.17%	149
		$	3,706