RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2018

Related Party Transactions [Abstract]

Schedule of related party transactions

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

	2018			2017			2016
	(dollars in thousands)
Fees:
Advisory	$	10,663		$	9,995		$	9,490
Mortgage brokerage and equity refinancing		852			1,551			775
Net income		631			250			257
	$	12,146		$	11,796		$	10,522
Other Expense:
Cost reimbursements	$	4,398		$	2,895		$	3,228
Interest received		(7,404	)		(4,859	)		(4,216	)
	$	(3,006	)	$	(1,964	)	$	(988	)
Revenue:
Rental	$	1,178		$	783		$	708

Fees paid to Regis and related parties:

	2018		2017		2016
	(dollars in thousands)
Fees:
Property acquisition	$	43,856	$	9,819	$	10,776
Property management, construction management and leasing commissions		540		963		888
Real estate brokerage		2,068		1,369		787
	$	46,464	$	12,151	$	12,451

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, 2018 (dollars in thousands):

	Pillar			ARL		Total
Related party receivable, December 31, 2017	$	—		$	111,665	$	111,665
Cash transfers		71,034			—		71,034
Advisory fees		(10,662	)		—		(10,662	)
Net income fee		(631	)		—		(631	)
Fees and commissions		(2,919	)		—		(2,919	)
Cost reimbursements		(4,398	)		—		(4,398	)
Interest income		—			7,229		7,229
Notes receivable purchased		(5,314	)		—		(5,314	)
Expenses (paid)/received by advisor		1,221			—		1,221
Financing (mortgage payments)		10,273			—		10,273
Sales/Purchases transactions		(43,856	)		—		(43,856	)
Related party receivable, December 31, 2018	$	14,748		$	118,894	$	133,642