RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2016

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:

	2016			2015			2014
	(dollars in thousands)
Fees:
Advisory	$	10,918		$	9,775		$	8,943
Construction advisory		—			—			—
Mortgage brokerage and equity refinancing		775			1,612			1,152
Net income		257			492			3,669
Property acquisition and sales		—			921			177
	$	11,950		$	12,800		$	13,941
Other Expense:
Cost reimbursements	$	3,826		$	3,675		$	3,449
Interest paid (received)		(1,144	)		(1,234	)		(1,043	)
	$	2,682		$	2,441		$	2,406
Revenue:
Rental	$	708		$	726		$	701
Fees paid to Regis and related parties:
		2016			2015			2014
	(dollars in thousands)
Fees:
Property acquisition	$	10,775		$	1,932		$	348
Property management, construction management and leasing commissions		888			717			583
Real estate brokerage		787			1,105			2,848
	$	12,450		$	3,754		$	3,779

Schedule of net receivable from 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, 2016 (dollars in thousands):

	Pillar
Related party receivable, December 31, 2015	$	28,147
Cash transfers		31,670
Advisory fees		(10,918	)
Net income fee		(257	)
Cost reimbursements		(3,826	)
Interest income		1,144
Notes receivable purchased		(5,356	)
Fees and commissions		(1,551	)
Expenses paid by Advisor		(8,630	)
Financing (mortgage payments)		5,025
Sales/purchases transactions		(10,776	)
Tax sharing		—
Purchase of obligations		—
Related party receivable, December 31, 2016	$	24,672