Description of the related party transactions and fees (Tables)

12 Months Ended

Dec. 31, 2012

Description of the related party transactions and fees

Description of the related party transactions and fees

Below is a description of the related party transactions and fees between Pillar, Prime, Triad, Regis I, and Regis:

Fees, expenses, and revenue paid to and/or received from our advisor:
		2012		2011		2010
		(dollars in thousands)
Fees:
	Advisory fee	$	10,182	$	13,225	$	15,770
	Construction advisory fee		181		2,429		1,761
	Mortgage brokerage and equity refinancing		1,881		812		1,667
	Net income fee		180		54		99
	Property acquisition and sales		20		-		31
		$	12,444	$	16,520	$	19,328
Other Expense:
	Cost reimbursements	$	3,359	$	4,246	$	4,882
	Interest paid		495		272		1,471
		$	3,854	$	4,518	$	6,353
Revenue:
	Rental revenue	$	587	$	868	$	2,595
Fees paid to Triad, an affiliate, Regis I, Regis and related parties:
			2012		2011		2010
				(dollars in thousands)
Fees:
	Property acquisition	$	71	$	-	$	106
	Property management, construction manaement and leasing commissions		2,189		1,791		2,896
	Real estate brokerage		2,321		-		1,497
		$	4,581	$	1,791	$	4,499