I'm pretty sure the chords are broken into arpeggios during the "And as you've waited for me" part, but I'm still a bit unsure of how they are broken up, so I just play them straight. Or attempt to. Barre chords on twelve string guitar are still really difficult for me, but it's necessary to play some of these chords that way. Like Gm.
I've been working on the bass part for this too, but there are still a few parts I'm unsure of, so I've held off on that for now.