Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.21.2
Revenue
 6 Months Ended
Jun. 30, 2021
BRIDGE INVESTMENT GROUP HOLDINGS LLC [Member]  
Disaggregation of Revenue [Line Items]  
Revenue
3.
REVENUE
Fund Management Fees:
The Company earns base management fees for
the day-to-day operations
and administration of its managed private funds and other investment vehicles. The following presents revenues disaggregated by product offering, which aligns with the Company’s performance obligations and the basis for calculating each amount (in thousands):
 
 
  
Three Months Ended
June 30,
 
  
Six Months Ended
June 30,
 
 
  
2021
 
  
2020
 
  
2021
 
  
2020
 
Funds
    $ 33,510      $ 23,982      $ 62,980      $ 48,639  
Joint Ventures and Separately Managed Accounts
      1,026        1,741        2,407        2,803  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total Fund Management Fees
    $ 34,536      $ 25,723      $ 65,387      $ 51,442  
    
 
 
     
 
 
     
 
 
     
 
 
  
Property Management and Leasing Fees:
The following presents revenues disaggregated by product offering, which aligns with the Company’s performance obligations and the basis for calculating each amount (in thousands):
 
 
  
Three Months Ended
June 30,
 
  
Six Months Ended
June 30,
 
 
  
2021
 
  
2020
 
  
2021
 
  
2020
 
Seniors Housing
    $ 6,597      $ 6,867      $ 13,153      $ 14,151  
Multifamily
      4,322        3,659        8,416        7,388  
Office
      3,416        4,319        9,512        9,828  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total Property Management and Leasing Fees
    $ 14,335      $ 14,845      $ 31,081      $ 31,367  
    
 
 
     
 
 
     
 
 
     
 
 
  
Construction Management Fees
The following presents revenues disaggregated by product offering, which aligns with the Company’s performance obligations and the basis for calculating each amount (in thousands):
 
 
  
Three Months Ended
June 30,
 
  
Six Months Ended
June 30,
 
 
  
2021
 
  
2020
 
  
2021
 
  
2020
 
Multifamily
    $ 1,133      $ 996      $ 2,058      $ 1,995  
Office
      829        1,007        1,578        1,501  
Seniors Housing
      103        212        255        281  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total Construction Management Fees
    $ 2,065      $ 2,215      $ 3,891      $ 3,777  
    
 
 
     
 
 
     
 
 
     
 
 
  
Transaction Fees:
The following presents revenues disaggregated by product offering, which aligns with the Company’s performance obligations and the basis for calculating each amount (in thousands):
 
 
  
Three Months Ended
June 30,
 
  
Six Months Ended
June 30,
 
 
  
2021
 
  
2020
 
  
2021
 
  
2020
 
Acquisition Fees
    $ 13,137      $ 6,647      $ 17,789      $ 12,084  
Brokerage Fees
      3,105        1,647        3,779        3,555  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total Transactional Fees
    $ 16,242      $ 8,294      $ 21,568      $ 15,639  
    
 
 
     
 
 
     
 
 
     
 
 
  
For the three and six months ended June 30, 2021 and 2020, no individual client represented 10% or more of the Company’s total reported revenues and substantially all of revenue was derived from operations in the United States.
As of June 30, 2021 and December 31, 2020, the Company had $3.0 million and $2.9 
million, respectively, of deferred revenues, which is included in other current liabilities in the combined balance sheets. During the three and six months ended June 30, 2021, the Company recognized
$2.0 
million and $0.7 million, respectively, as revenue from amounts included in the deferred revenue balance as of December 31, 2020. The Company expects to recognize the majority of the deferred revenues within a year of the balance sheet date.