RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 9. RELATED PARTY TRANSACTIONS

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 and paid are shown on the face of the Consolidated Financial Statements.

The following table provides the reconciliation of the beginning and ending balances of accounts receivable from and (accounts payable) to related parties as of June 30, 2020 (dollars in thousands):

	June 30, 2020
	Pillar			ARL		Total
Related party receivable, beginning balance, December 31, 2019	$	—		$	141,541	$	141,541
Cash transfers		887			—		887
Advisory fees		(2,895	)		—		(2,895	)
Net income fee		(198	)		—		(198	)
Cost reimbursements		(1,749	)		—		(1,749	)
Interest income		—			3,235		3,235
Notes receivable purchased		(7,368	)		—		(7,368	)
Expenses (paid)/received by advisor		(4,511	)		—		(4,511	)
Financing (mortgage payments)		(166	)		—		(166	)
Intercompany property transfers		(159	)		—		(159	)
Related party receivable, ending balance, June 30, 2020	$	(16,159	)	$	144,776	$	128,617