RELATED-PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Asset Management Fees Calculation

CIM Urban pays asset management fees to the Operator on a quarterly basis in arrears. The fee is calculated as a percentage of the daily average adjusted fair value of CIM Urban’s assets (dollar amounts in thousands):


Daily Average Adjusted Fair Value of CIM Urban’s Assets
				Quarterly Fee Percentage
From Greater of		To and Including

$	—	$	500,000	0.2500%
$	500,000	$	1,000,000	0.2375%
$	1,000,000	$	1,500,000	0.2250%
$	1,500,000	$	4,000,000	0.2125%
$	4,000,000	$	20,000,000	0.1000%

Schedule of Related Party Transactions

The Company recorded fees and expense reimbursements as shown in the table below for services provided by related parties related to the services described above during the periods indicated (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Asset Management Fees:
Asset management fees (1)	$	2,260	$	2,376	$	4,519	$	4,739
Property Management Fees and Reimbursements:
Property management fees	$	404	$	370	$	807	$	797
Onsite management and other cost reimbursement	$	755	$	615	$	1,564	$	1,584
Leasing commissions	$	33	$	43	$	48	$	83
Construction management fees	$	22	$	107	$	35	$	277
Administrative Fees and Expenses:
Base service fee (2)	$	—	$	—	$	—	$	282
Expense reimbursements to related parties - corporate	$	454	$	615	$	1,059	$	1,427
Lending Segment Expenses:
Expense reimbursements to related parties - lending segment	$	433	$	998	$	1,164	$	1,680
Offering-Related Fees:
Upfront dealer manager and trailing dealer manager fees	$	272	$	350	$	422	$	589
Non-issuance specific offering costs (3)	$	43	$	21	$	64	$	45

______________________

(1)For the three and six months ended June 30, 2020, the Company issued to the Operator 203,349 shares of Common Stock, in lieu of cash payment of the asset management fee for the first quarter of 2020, and 95,245 shares of our Series A Preferred Stock, in lieu of cash payment of the asset management fee for the second quarter of 2020. Subsequent to June 30, 2021, the Company issued to the Operator 89,338 shares of Series A Preferred Stock in lieu of cash payment of the asset management fee for the first quarter of 2021.

(2)For the three and six months ended June 30, 2020, the Company issued to the Administrator 11,273 shares of Series A Preferred Stock, in lieu of cash as payment of the Base Service Fee for the first quarter of 2020.

(3)As of June 30, 2021 and December 31, 2020, $2.0 million and $1.5 million, respectively, was included in deferred costs as reimbursable expenses incurred pursuant to the Master Services Agreement and the then applicable dealer manager agreement with CCO Capital. These non-issuance specific costs are allocated against the gross proceeds from the sale of the Series A Preferred Stock and the Series D Preferred Stock on a pro rata basis for each issuance as a percentage of the total offering.

As of June 30, 2021 and December 31, 2020, due to related parties consisted of the following (in thousands):


	June 30, 2021		December 31, 2020
Asset management fees	$	4,487	$	2,386
Property management fees and reimbursements	1,926		1,662
Expense reimbursements - corporate	904		647
Expense reimbursements - lending segment	1,685		690
Upfront dealer manager and trailing dealer manager fees	655		493
Non-issuance specific offering costs	969		668
Other amounts due to the CIM Management Entities and certain of its affiliates	6		160
Total due to related parties	$	10,632	$	6,706