For the three and nine months ended September 30, 2026 and 2025, 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:



		Three Months Ended September 30,				Nine Months Ended September 30,
	Financial Statement Line Item	2026		2025		2026		2025
Pursuant to business management agreement:
Business management fees	General and administrative expenses	$	6,154	$	5,927	$	17,970	$	17,416
Incentive management fees	General and administrative expenses	1,885		2,438		6,286		4,716
Total		$	8,039	$	8,365	$	24,256	$	22,132

Pursuant to property management agreement:


Property management fees	Other operating expenses	$	3,327	$	3,250	$	10,047	$	9,755
Construction supervision fees	Buildings and improvements (1)	208		233		448		350
Total		$	3,535	$	3,483	$	10,495	$	10,105

Expense reimbursement:
Other expenses	General and administrative expenses	$	44	$	51	$	132	$	152
Property level expenses	Other operating expenses	1,677		1,506		4,709		4,812
Total		$	1,721	$	1,557	$	4,841	$	4,964