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6. RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2014

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of June 30, 2014 (dollars in thousands):

	Pillar
Related party receivable, December 31, 2013	$	14,086
Cash transfers		27,262
Advisory fees		(4,445	)
Fees and commissions		(1,194	)
Cost reimbursements		(1,670	)
Interest (to) from advisor		490
Notes receivable purchased		(8,437	)
Net income fee		(700	)
Expenses paid by Advisor		(1,317	)
Financing (mortgage payments)		1,669
Sales/purchases transactions		350
Related party receivable, June 30, 2014	$	26,094

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 related party amounts included in assets and liabilities, and the related party revenues and expenses received/paid are shown on the face of the financial statements.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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