RELATED PARTY TRANSACTIONS AND FEES (Tables)

12 Months Ended

Dec. 31, 2019

Related Party Transactions [Abstract]

Schedule of related party transactions

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

	For the year ended December 31,
	2019			2018			2017
	(dollars in thousands)
Fees:
Advisory	$	5,806		$	10,663		$	9,995
Mortgage brokerage and equity refinancing		—			852			1,551
Net income fee		357			631			250
	$	6,163		$	12,146		$	11,796
Other Expense:
Cost reimbursements	$	6,687		$	4,398		$	2,895
Interest paid (received)		(8,475	)		(7,404	)		(4,859	)
	$	(1,788	)	$	(3,006	)	$	(1,964	)
Revenue:
Rental	$	1,311		$	1,178		$	783

Fees paid to Regis and related parties:

	For the year ended December 31,
	2019		2018		2017
	(dollars in thousands)
Fees:
Property Sales/Acquisition	$	318	$	43,856	$	9,819
Property management, construction management and leasing commissions		165		540		963
Real estate brokerage		71		2,068		1,369
	$	554	$	46,464	$	12,151

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, 2019 (dollars in thousands):

	Pillar			ARL		Total
Related party receivable, beginning balance, December 31, 2018	$	—		$	133,642	$	133,642
Cash transfers		29,395			—		29,395
Advisory fees		(5,806	)		—		(5,806	)
Net income fee		(357	)		—		(357	)
Fees and commissions		(71	)		—		(71	)
Cost reimbursements		(6,687	)		—		(6,687	)
Interest income		—			8,475		8,475
Notes receivable purchased		(28,669	)		—		(28,669	)
Expenses (paid)/received by advisor		9,073			—		9,073
Financing (mortgage payments)		—			—		—
Sales/Purchases Commissions		(318	)		—		(318	)
Intercompany property transfers		2,864			—		2,864
Income tax expense		—			—		—
Deferred tax asset		—			—		—
Purchase of obligations		—					—
Related party receivable, ending balance, December 31, 2019	$	(576	)	$	142,117	$	141,541