RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS AND FEES

NOTE 6. RELATED PARTY TRANSACTIONS

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of June 30, 2015 (dollars in thousands):

	Pillar			ARL		Total
Related party receivable, December 31, 2014	$	—		$	58,404	$	58,404
Cash transfers		38,073			—		38,073
Advisory fees		(3,893	)		—		(3,893	)
Net income fee		(90	)		—		(90	)
Fees and commissions		(2,391	)		—		(2,391	)
Cost reimbursements		(1,457	)		—		(1,457	)
Interest income		—			1,297		1,297
Expenses paid by advisor		(4,993	)		—		(4,993	)
Financing (mortgage payments)		3,381			—		3,381
Sales/purchases transactions		5,749			—		5,749
Purchase of obligations		(34,379	)		34,379		—
Related party receivable, June 30, 2015	$	—		$	94,080	$	94,080

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.