Schedule Of Business Management And Operating Expenses |
For the three and six months ended June 30, 2025 and 2024, the business management fees, incentive management fees, property management fees, construction supervision fees and expense reimbursements recognized in our condensed consolidated financial statements were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial Statement | | Three Months Ended June 30, | | Six Months Ended June 30, | | | Line Item | | 2025 | | 2024 | | 2025 | | 2024 | Pursuant to business management agreement: | | | | | | | | | Business management fees | | General and administrative expenses | | $ | 5,754 | | | $ | 5,809 | | | $ | 11,489 | | | $ | 11,639 | | Incentive management fees | | General and administrative expenses | | 1,311 | | | — | | | 2,278 | | | — | | Total | | | | $ | 7,065 | | | $ | 5,809 | | | $ | 13,767 | | | $ | 11,639 | | | | | | | | | | | | | Pursuant to property management agreement: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Property management fees | | Other operating expenses | | $ | 3,238 | | | $ | 3,116 | | | $ | 6,505 | | | $ | 6,446 | | Construction supervision fees | | Buildings and improvements (1) | | 87 | | | 115 | | | 117 | | | 188 | | Total | | | | $ | 3,325 | | | $ | 3,231 | | | $ | 6,622 | | | $ | 6,634 | | | | | | | | | | | | | Expense reimbursement: | | | | | | | | | | | Other expenses | | General and administrative expenses | | $ | 51 | | | $ | 82 | | | $ | 101 | | | $ | 164 | | Property level expenses | | Other operating expenses | | 1,736 | | | 1,565 | | | 3,306 | | | 3,170 | | Total | | | | $ | 1,787 | | | $ | 1,647 | | | $ | 3,407 | | | $ | 3,334 | |
(1)Amounts capitalized as buildings and improvements are depreciated over the estimated useful lives of the related assets.
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