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RELATED PARTY TRANSACTIONS AND FEES (Table)

12 Months Ended

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