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Reconciles of the related party payable due to Pillar (Tables)
 12 Months Ended
Dec. 31, 2012
Reconciles of the related party payable  
Reconciles of the related party payable due to Pillar

The following table reconciles the beginning and ending balances of the related party payable due to Pillar as of December 31, 2012 (dollars in thousands):

 

 

 

Pillar

 

Related party payable, December 31, 2011

 

$

(10,294

)

Cash transfers

 

 

14,090

 

Advisory fees

 

 

(10,182

)

Net income fee

 

 

(180

)

Cost reimbursements

 

 

(3,359

)

Interest (to) from Advisor

 

 

242

 

Construction supervision fees

 

 

(181

)

Fees and commissions to Pillar/Prime

 

 

(4,293

)

POA fees

 

 

(158

)

Expenses paid by Advisor

 

 

(1,861

)

Financing (mortgage payments)

 

 

126

 

Note receivable with affiliate

 

 

1,147

 

Sales/purchase transactions

 

 

4,651

 

Intercompany property transfers

 

 

(670

)

Related party payable, December 31, 2012

 

$

(10,922

)