RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2016

Related Party Transactions [Abstract]

Schedule of related party transactions

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

	2016			2015			2014
	(dollars in thousands)
Fees:
Advisory	$	9,490		$	8,368		$	7,373
Mortgage brokerage and equity refinancing		775			1,524			1,152
Net income		257			187			3,669
Property acquisition		—			921			145
	$	10,522		$	11,000		$	12,339
Other Expense:
Cost reimbursements	$	3,228		$	2,925		$	2,622
Interest paid (received)		(4,216	)		(3,352	)		(2,795	)
	$	(988	)	$	(427	)	$	(173	)
Revenue:
Rental	$	708		$	726		$	701

Fees paid to Regis and related parties:

	2016		2015		2014
	(dollars in thousands)
Fees:
Property acquisition	$	10,776	$	1,932	$	348
Property management, construction management and leasing commissions		888		682		544
Real estate brokerage		787		1,105		2,752
	$	12,451	$	3,719	$	3,644

Schedule of accounts receivable from 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 December 31, 2016 (dollars in thousands):

	Pillar			ARL		Total
Related party receivable, December 31, 2015	$	—		$	90,515	$	90,515
Cash transfers		43,246			—		43,246
Advisory fees		(9,490	)		—		(9,490	)
Net income fee		(257	)		—		(257	)
Fees and commissions		(1,551	)		—		(1,551	)
Cost reimbursements		(3,228	)		—		(3,228	)
Interest income		—			4,216		4,216
Notes receivable purchased		(5,356	)				(5,356	)
Expenses paid by advisor		(8,389	)		—		(8,389	)
Financing (mortgage payments)		2,719			—		2,719
Sales/Purchases transactions		(10,776	)		—		(10,776	)
Series K preferred stock acquisition		—			—		—
Income tax expense		(1,096	)		1,096		—
Purchase of obligations		(12,925	)		12,925		—
Related party receivable, December 31, 2016	$	(7,103	)	$	108,752	$	101,649