Related Party Arrangements

3 Months Ended

Mar. 31, 2017

Related Party Arrangements:

For each of the quarters ended March 31, 2017 and 2016, the Advisor earned fees and incurred reimbursable expenses as follows (in thousands):



	Quarter Ended March 31,
	2017		2016
Asset management fees ⁽¹⁾	$	2,763	$	3,190
Reimbursable expenses: ⁽²⁾
Operating expenses	1,129		1,356
Total fees earned and reimbursable expenses	$	3,892	$	4,546

FOOTNOTES:


(1)	Includes approximately $0.2 million of asset management fees for the quarter ended March 31, 2016 included as discontinued operations in the accompanying unaudited condensed consolidated statements of operations related to properties that were classified as assets held for sale and qualified as discontinued operations.


(2)	Amounts representing operating expenses are recorded as part of general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations.

Amounts due to affiliates for operating expenses described above were approximately $0.4 million and $0.5 million as of March 31, 2017 and December 31, 2016, respectively.

In connection with the adoption of the Liquidation Basis of Accounting, the Company accrues costs it expects to incur through the end of liquidation. As of March 31, 2017, the Company has accrued estimated future asset management fees of approximately $0.9 million and reimbursable operating expenses of approximately $2.4 million in the liability for estimated costs in excess of estimated receipts during liquidation of the accompanying condensed consolidated statement of net assets.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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CNL LIFESTYLE PROPERTIES INC 10-Q