| Summary of Related Party Costs |
Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2020 and 2021, as well as any related amounts payable as of December 31, 2020 and 2021.
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Year Ended December 31, 2020 |
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Year Ended December 31, 2021 |
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$ |
525,108 |
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$ |
489,108 |
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$ |
36,000 |
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$ |
967,341 |
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$ |
916,349 |
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$ |
86,992 |
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Additional paid-in capital |
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— |
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— |
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— |
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150,000 |
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150,000 |
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— |
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Stockholder servicing fee (1) |
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— |
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645,911 |
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631,429 |
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161,545 |
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636,654 |
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156,320 |
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Stockholder servicing fees - SST IV (2) |
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— |
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— |
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— |
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1,155,887 |
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814,908 |
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340,979 |
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$ |
525,108 |
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$ |
1,135,019 |
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$ |
667,429 |
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$ |
2,434,773 |
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$ |
2,517,911 |
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$ |
584,291 |
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(1) |
We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. The amount incurred during the year ended December 31, 2021 represents an adjustment to the estimated stockholder servicing fee recorded at the time of the sale of the Class T Shares, based on the current estimated cessation date (March 31, 2022) of such stockholder servicing fee. |
(2) |
Represents the stockholder servicing fee liability assumed in the SST IV Merger. |
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| Summary of Related Party Fees and Reimbursable Costs |
Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees for the years ended December 31, 2021, 2020, and 2019:
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Managed REIT Platform Revenues |
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Year Ended
December 31,
2021 |
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Year Ended
December 31,
2020 |
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Year Ended
December 31,
2019 |
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Advisory agreement – SST IV (1) |
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$ |
716,278 |
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$ |
3,211,661 |
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$ |
1,153,137 |
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Advisory agreement – SSGT II |
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1,843,769 |
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1,210,529 |
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310,786 |
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Advisory agreement – SST VI |
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178,282 |
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— |
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— |
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Property management agreement – SST IV (1) |
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346,179 |
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1,429,632 |
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602,162 |
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Property management agreement – SSGT II |
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709,533 |
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371,751 |
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91,594 |
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Property management agreement – SST VI |
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99,602 |
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— |
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— |
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Tenant Protection Program revenue – SST IV (3) |
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285,959 |
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893,315 |
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— |
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Tenant Protection Program revenue – SSGT II |
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636,671 |
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257,602 |
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37,269 |
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Tenant Protection Program revenue – SST VI |
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158,662 |
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— |
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254,148 |
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Other Managed REIT revenue (2) |
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1,348,035 |
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674,140 |
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619,210 |
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$ |
6,322,970 |
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$ |
8,048,630 |
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$ |
3,068,306 |
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(1) |
On March 17, 2021, we acquired SST IV and no longer earn such fees. |
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(2) |
Such revenues primarily include construction management, development fees, and other miscellaneous revenues. |
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(3) |
On March 17, 2021, we acquired SST IV and such revenue is now included in ancillary operating revenue in our consolidated statements of operations. |
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