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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2016
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6. RELATED PARTY TRANSACTIONS

 

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of March 31, 2016 (dollars in thousands):

 

   Pillar 
Related party receivable, December 31, 2015  $28,147 
Cash transfers   9,986 
Advisory fees   (2,738)
Net income fee   (72)
Fees and commissions   (266)
Cost reimbursements   (876)
Interest income   442 
Expenses paid by Advisor   (3,481)
Financing (mortgage payments)   1,255 
Related party receivable, March 31, 2016  $32,397 

 

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 Consolidated Financial Statements.