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RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2017

Related Party Transactions [Abstract]

Schedule of description of the related party transactions and fees

Fees, expenses, and revenue paid to and/or received from our advisor:

		2017				2016				2015
		(dollars in thousands)
Fees:
Advisory		$	11,082			$	10,918			$	9,775
Mortgage brokerage and equity refinancing			1,712				775				1,612
Net income			250				257				492
Property acquisition and sales			—				—				921
		$	13,044			$	11,950			$	12,800
Other Expense:
Cost reimbursements		$	3,240			$	3,826			$	3,675
Interest paid (received)			(1,195	)			(1,144	)			(1,234	)
		$	2,045			$	2,682			$	2,441
Revenue:
Rental		$	783			$	708			$	726

Fees paid to Regis and related parties:

		2017				2016				2015
			(dollars in thousands)
Fees:
Property acquisition		$	9,128			$	10,775			$	1,932
Property management, construction management and leasing commissions			963				888				717
Real estate brokerage			1,369				787				1,105
		$	11,460			$	12,450			$	3,754

Schedule reconciles the beginning and ending balances 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, 2017 (dollars in thousands):

		Pillar
Related party receivable, December 31, 2016		$	24,672
Cash transfers			56,635
Advisory fees			(11,082	)
Net income fee			(250	)
Cost reimbursements			(3,240	)
Interest income			1,196
Notes receivable purchased			(447	)
Fees and commissions			(3,082	)
Expenses paid by Advisor			(579	)
Financing (mortgage payments)			(17,313	)
Sales/purchases transactions			(9,818	)
Tax sharing			1,619
Related party receivable, December 31, 2017		$	38,311