RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2014

RELATED PARTY TRANSACTIONS (Tables)

Reconciliation of accounts receivable and accounts payable to related parties

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of September 30, 2014 (dollars in thousands):

	Pillar			ARL		Total
Related party receivable, December 31, 2013	$	-		$	52,380	$	52,380
Cash transfers		42,266			-		42,266
Advisory fees		(5,490	)		-		(5,490	)
Net income fee		(514	)		-		(514	)
Fees and commissions		(1,571	)		-		(1,571	)
Cost reimbursements		(1,978	)		-		(1,978	)
Interest (to) from advisor		-			2,085		2,085
Notes receivable purchased		(19,915	)		-		(19,915	)
Expenses paid by advisor		(3,780	)		-		(3,780	)
Financing (mortgage payments)		(2,559	)		-		(2,559	)
Sales/purchases transactions		7,329			-		7,329
Series K preferred stock cancellation		270			-		270
Purchase of obligations		(14,058	)		16,601		2,543
Related party receivable, September 30, 2014	$	-		$	71,066	$	71,066