RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2018

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 for each of the three years ended December 31, 2018: 

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

	2018			2017			2016
	(dollars in thousands)
Fees:
Advisory	$	11,475		$	11,082		$	10,918
Mortgage brokerage and equity refinancing		852			1,712			775
Net income		631			250			257
	$	12,958		$	13,044		$	11,950
Other Expense:
Cost reimbursements	$	4,720		$	3,240		$	3,826
Interest paid (received)		(3,370	)		(1,195	)		(1,444	)
	$	1,350		$	2,045		$	2,382
Revenue:
Rental	$	1,178		$	783		$	708

Fees paid to Regis and related parties: 

	2018		2017		2016
	(dollars in thousands)
Fees:
Property acquisition	$	32,008	$	9,128	$	10,775
Property management, construction management and leasing commissions		540		963		888
Real estate brokerage		2,068		1,369		787
	$	34,616	$	11,460	$	12,450

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 (Pillar) as of December 31, 2018 and 2017:

		2018			2017
		(dollars in thousands)
Related party receivable, beginning balance	$	38,311		$	24,672
Cash transfers		75,892			56,635
Advisory fees		(11,475	)		(11,082	)
Net income fee		(631	)		(250	)
Cost reimbursements		(4,720	)		(3,240	)
Interest income		3,370			1,196
Notes receivable purchased		(5,314	)		(447	)
Fees and commissions		(2,919	)		(3,082	)
Expenses received (paid) by Advisor		(62	)		(579	)
Financing (mortgage payments)		9,933			(17,313	)
Sales/purchases transactions		(32,008	)		(9,818	)
Tax sharing		—			1,619
Related party receivable, ending balance	$	70,377		$	38,311