XML 70 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2012
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

NOTE 7. RELATED PARTY TRANSACTIONS

 

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to affiliates as of June 30, 2012 (dollars in thousands):

 

 

 

 

Pillar

 

Balance, December 31, 2011

 

$

(10,294

)

 

Cash transfers

 

 

336

 

 

Advisory fees

 

 

(5,359

)

 

Commissions to Pillar/Regis

 

 

(2,323

)

 

Cost reimbursements

 

 

(1,772

)

 

Interest income from advisor

 

 

383

 

 

POA fees

 

 

(112

)

 

Net income fee

 

 

(119

)

 

Expenses paid by Advisor

 

 

(1,276

)

 

Financing (mortgage payments)

 

 

1,243

 

 

Note receivable with affiliate

 

 

6,817

 

 

Sales/Purchases transactions

 

 

(825

)

 

Intercompany property transfers

 

 

(515

)

Balance, June 30, 2012

 

$

(13,816

)

 

During the ordinary course of business, we have related party transactions that include, but are not limited to rent income, interest income, interest expense, general and administrative costs, commissions, management fees, and property expenses.  In addition, we have assets and liabilities that include related party amounts.  The affiliated amounts included in assets and liabilities, and the affiliated revenues and expenses received/paid are shown on the face of the financial statements.