XML 28 R19.htm IDEA: XBRL DOCUMENT
v3.21.2

Related Party Transactions | 9 Months Ended
--- | ---
Sep. 30, 2021
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions We engage in certain services and business transactions with related parties, including but not limited to, the rent of office space, leasing services, asset management, administrative services, and the acquisition and dispositions of real estate. Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to, or in our best interest. Pillar and Regis are wholly owned by an affiliates of Realty Advisors, Inc. ("RAI"), which owns appro ximately 90.8% of the Company. Pillar is compensated for advisory services in accordance with an agreement. Regis receives property management fees and leasing commissions in accordance with the terms of its property-level management agreement. In addition, Regis is entitled to receive real estate brokerage commissions in accordance with the terms of a non-exclusive brokerage agreement. Rental income includes $312 and $262 for the three months ended September 30, 2021 and 2020, respectively, and $867 and $808 for the nine months ended September 30, 2021 and 2020, respectively, for office space leased to Pillar and Regis. Property operating expense includes $178 and $254 for the three months ended September 30, 2021 and 2020, respectively, and $755 and $750 for the nine months ended September 30, 2021 and 2020, respectively, for management fees on commercial properties payable to Regis. General and administrative expense includes $1,017 and $1,094 for the three months ended September 30, 2021 and 2020, respectively, and $3,434 and $2,991 for the nine months ended September 30, 2021 and 2020, respectively, for employee compensation and other reimbursable costs payable to Pillar. Advisor fees paid to Pillar were $3,419 and $2,329 for the three months ended September 30, 2021 and 2020, respectively, and $11,594 and $7,055 for the nine months ended September 30, 2021 and 2020, respectively. Notes receivable include amounts held by UHF and Pillar (See Note 8 – Notes Receivable). UHF is deemed to be a related party due to our significant investment in the performance of the collateral secured by the notes receivable. Interest income on these notes was $5,053 and $4,812 for the three months ended September 30, 2021 and 2020, respectively, and $15,139 and $14,613 for the nine months ended September 30, 2021 and 2020, respectively. Interest expense on notes payable to Pillar was $1,431 and $1,583 for the three months ended September 30, 2021 and 2020, respectively, and $4,199 and $5,040 for the nine months ended September 30, 2021 and 2020, respectively. Receivable from related party represents the amount outstanding from Pillar for loans and unreimbursed fees, expenses and costs as provided above.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration