Pursuant to the Investment Management Agreement, the asset management fee prior to January 1, 2022 was calculated (without giving effect to the Fee Waiver) as a percentage of the daily average adjusted fair value of CIM Urban’s assets as follows (dollar amounts in thousands):


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

$	—	$	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%

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,
	2026		2025		2026		2025

Asset Management Fees:
Asset management fees	$	859	$	349	$	1,443	$	709
Property Management Fees and Reimbursements:
Property management fees(1)	$	514	$	509	$	1,037	$	1,063
Onsite management and other cost reimbursement(2)	$	1,012	$	1,764	$	2,836	$	3,524
Leasing commissions(3)	$	46	$	53	$	69	$	182
Construction management fees(4)	$	177	$	196	$	357	$	428
Development management reimbursements(5)	$	93	$	307	$	347	$	709
Administrative Fees and Expenses:

Expense reimbursements to related parties - corporate	$	852	$	891	$	1,727	$	1,517
Lending Segment Expenses:
Expense reimbursements to related parties - lending segment (6)	$	—	$	678	$	—	$	1,337

(1)Does not include the Company’s share of the property management fees from the Unconsolidated Joint Ventures of $31,000 and $58,000 for the three and six months ended June 30, 2026, respectively, and $24,000 and $44,000 for the three and six months ended June 30, 2025, respectively.

(2)Does not include the Company’s share of the onsite management and other cost reimbursements from the Unconsolidated Joint Ventures of $70,000 and $188,000 for the three and six months ended June 30, 2026, respectively, and $130,000 and $221,000 for the three and six months ended June 30, 2025, respectively.

(3)Does not include the Company’s share of the leasing commissions from the Unconsolidated Joint Ventures of $11,000 for the six months ended June 30, 2026, and $63,000 and $70,000 for the three and six months ended June 30, 2025, respectively.

(4)Does not include the Company’s share of the construction management fees from the Unconsolidated Joint Ventures which were de minimis for the three and six months ended June 30, 2026 and $65,000 and $123,000 for the three and six months ended June 30, 2025, respectively.

(5)Does not include the Company’s share of the development management (credits) reimbursements from the Unconsolidated Joint Ventures of $(44,000) and $29,000 for the three and six months ended June 30, 2026, respectively, and $86,000 and $261,000 for the three and six months ended June 30, 2025, respectively.

(6)Expense reimbursements to related parties - lending segment do not include personnel costs capitalized to deferred loan origination costs of $6,000 and $24,000 for the three and six months ended June 30, 2025, respectively.


	June 30, 2026		December 31, 2025

Asset management fees	$	870	$	1,303
Property management fees and reimbursements	684		13,574
Expense reimbursements - corporate	—		3,968
Expense reimbursements - lending segment	—		3,255
Upfront dealer manager and trailing dealer manager fees	4		203

Other amounts due to the CIM Management Entities and certain of its affiliates	73		516
Total due to related parties	$	1,631	$	22,819