For the three and nine months ended September 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:


		Three Months Ended				Nine Months Ended
	Financial Statement	September 30,				September 30,
	Line Item	2025		2024		2025		2024
Pursuant to business management agreement:
Business management fees	General and administrative expenses	$	5,927	$	5,938	$	17,416	$	17,577
Incentive management fees	General and administrative expenses	2,438		—		4,716		—
Total		$	8,365	$	5,938	$	22,132	$	17,577

Pursuant to property management agreement:


Property management fees	Other operating expenses	$	3,250	$	3,202	$	9,755	$	9,648
Construction supervision fees	Buildings and improvements (1)	233		115		350		303
Total		$	3,483	$	3,317	$	10,105	$	9,951

Expense reimbursement:
Other expenses	General and administrative expenses	$	51	$	82	$	152	$	247
Property level expenses	Other operating expenses	1,506		1,774		4,812		4,943
Total		$	1,557	$	1,856	$	4,964	$	5,190