Related Party Transactions

3 Months Ended

Mar. 31, 2021

As described further in Note 5 ‘Investments in Unconsolidated Entity’, during the three months ended March 31, 2019, we formed an unconsolidated entity with Alinda, an infrastructure investment firm. We contributed a hyperscale data center under development in Manassas, Virginia to the entity. The facility, and the previously executed operating lease to a global cloud-based software company pursuant to a 10-year lease agreement, was contributed in exchange for cash and noncash consideration in the form of equity interest in the entity that was measured at fair value pursuant to ASC Topic 820. We and Alinda each own a 50% interest in the entity.

Under the unconsolidated entity operating agreement, we serve as the entity’s operating member, subject to authority and oversight of a board appointed by us and Alinda, and separately we serve as manager and developer of the facility in exchange for management and development fees. During the three months ended March 31, 2021 and 2020, we received $0.3 million and $0.5 million in development fees from the unconsolidated entity, respectively, as well as $0.3 million and $0.2 million in management fees from the unconsolidated entity, respectively.

In addition, we periodically execute transactions with entities affiliated with our Chairman and Chief Executive Officer. Such transactions include building operating lease payments and receipts as well as reimbursement for the use of a private aircraft service by our officers and directors.

The transactions which occurred during the three months ended March 31, 2021 and 2020 are outlined below (unaudited and in thousands):


	Three Months Ended March 31,
	2021		2020
Tax, utility, insurance and other reimbursement	$	169	$	176
Rent expense	260		257
Total	$	429	$	433