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RELATED PARTY TRANSACTIONS AND FEES (Table) | 12 Months Ended
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Dec. 31, 2015
Related Party Transactions [Abstract] |
Schedule of description of the related party transactions and fees | Below is a description of the related party transactions and fees between Pillar and Regis:
Fees, expenses, and revenue paid to and/or received from our advisor: |  |  |  |  |  |  |  |  |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (dollars in thousands) |
Fees: |  |  |  |  |  |  |  |  |  |  |  |
Advisory |  | $ | 9,775 |  |  | $ | 8,943 |  |  | $ | 10,166 |
Mortgage brokerage and equity refinancing |  |  | 1,612 |  |  |  | 1,152 |  |  |  | 1,878 |
Net income |  |  | 492 |  |  |  | 3,669 |  |  |  | 4,089 |
Property acquisition and sales |  |  | 921 |  |  |  | 177 |  |  |  | — |
|  | $ | 12,800 |  |  | $ | 13,941 |  |  | $ | 16,133 |
Other Expense: |  |  |  |  |  |  |  |  |  |  |  |
Cost reimbursements |  | $ | 3,675 |  |  | $ | 3,449 |  |  | $ | 3,466 |
Interest paid (received) |  |  | (1,233 | ) |  |  | (1,043 | ) |  |  | 431 |
|  | $ | 2,442 |  |  | $ | 2,406 |  |  | $ | 3,897 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Rental |  | $ | 726 |  |  | $ | 701 |  |  | $ | 670 |
Fees paid to Regis and related parties: |  |  |  |  |  |  |  |  |  |  |  |
|  | 2015 |  |  | 2014 |  |  | 2015 |
|  | (dollars in thousands) |
Fees: |  |  |  |  |  |  |  |  |  |  |  |
Property acquisition |  | $ | 1,932 |  |  | $ | 348 |  |  | $ | — |
Property management, construction manaement and leasing commissions |  |  | 717 |  |  |  | 583 |  |  |  | 474 |
Real estate brokerage |  |  | 1,105 |  |  |  | 2,848 |  |  |  | 4,081 |
|  | $ | 3,754 |  |  | $ | 3,779 |  |  | $ | 4,555 |
Schedule of accounts receivable from and accounts payable to related parties | The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of December 31, 2015 (dollars in thousands):
|  | Pillar |
Related party receivable, December 31, 2014 |  | $ | 21,414 |
Cash transfers |  |  | 66,824 |
Advisory fees |  |  | (9,775 | )
Net income fee |  |  | (492 | )
Cost reimbursements |  |  | (3,675 | )
Interest income |  |  | 1,233 |
Notes receivable purchased |  |  | (18,221 | )
Fees and commissions |  |  | (5,571 | )
Expenses paid by Advisor |  |  | (6,302 | )
Financing (mortgage payments) |  |  | (1,831 | )
Sales/purchases transactions |  |  | (26,317 | )
Tax sharing |  |  | — |
Related party receivable, December 31, 2015 |  | $ | 17,287 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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. + References No definition available. + Details
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