RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2017

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 7. RELATED PARTY TRANSACTIONS

The following table reflects the reconciliation of the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of June 30, 2017 (dollars in thousands):

	Pillar			ARL			Total
Related party receivable, December 31, 2016	$	(7,103	)	$	108,752		$	101,649
Cash transfers		18,544			—			18,544
Advisory fees		(4,806	)		—			(4,806	)
Net income fee		(137	)		—			(137	)
Fees and commissions		(1,147	)		—			(1,147	)
Cost reimbursements		(981	)		—			(981	)
Interest income		—			2,292			2,292
Notes receivable purchased		(447	)					(447	)
Expenses paid by advisor		(2,256	)		—			(2,256	)
Financing (mortgage payments)		(16,043	)		—			(16,043	)
Sales/Purchases transactions		(9,819	)		—			(9,819	)
Series K preferred stock acquisition		—			—			—
Income tax expense		—			—			—
Purchase of obligations		17,092			(17,092	)		—
Related party receivable, June 30, 2017	$	(7,103	)	$	93,952		$	86,849

During the ordinary course of business, we have related party transactions that include, but are not limited to, rental income, interest income, interest expense, general and administrative costs, commissions, management fees, and property expenses. In addition, we have assets and liabilities that include related party amounts. The related party amounts included in assets and liabilities, and the related party revenues and expenses received/paid are shown on the face of the Consolidated Financial Statements.