XML 62 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Tables)
 9 Months Ended
Sep. 30, 2013
Related Party Transactions [Abstract]  
Details of Receivable and Payables and Fees, Dividends and Reimbursed Expenses
The following table details these receivables and payables (in thousands):
 
September 30,
2013
 
December 31,
2012
Receivables from managed entities and related parties, net:
 
 
(Restated)
Real estate investment entities
$
21,850

 
$
18,060

Commercial finance investment entities (1) 
7,472

 
10,644

Financial fund management investment entities
826

 
1,736

Other
140

 
178

Receivables from managed entities and related parties
$
30,288

 
$
30,618

 
 
 
 
Payables due to managed entities and related parties, net:
 

 
 

Real estate investment entities (2) 
$
2,857

 
$
3,300

Other
180

 
236

Payables to managed entities and related parties
$
3,037

 
$
3,536

 
(1)
Includes $35.7 million and $29.6 million of reserves, respectively, for credit losses related to management fees owed from three commercial finance investment entities that, based on changes in the estimated cash distributions, are not expected to be collectible.
(2)
Includes $2.9 million and 2.5 million, respectively, in funds provided by the real estate investment entities, which are held by the Company to self insure the properties held by those entities.
Schedule of Fees, Dividends and Reimbursed Expenses from Several Related/Managed Entities
2)
Includes $2.9 million and 2.5 million, respectively, in funds provided by the real estate investment entities, which are held by the Company to self insure the properties held by those entities.
The Company receives fees, dividends and reimbursed expenses from several related or managed entities.  In addition, the Company reimburses related entities for certain operating expenses.  The following table details those activities (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
Fees from unconsolidated investment entities:
 
 
 
 
 
 
 
Real estate (1) 
$
6,726

 
$
4,439

 
$
16,273

 
$
13,533

Financial fund management 
801

 
715

 
2,335

 
2,333

Commercial finance (2) 
—

 
—

 
—

 
—

CVC Credit Partners – reimbursement of costs and expenses
295

 
514

 
979

 
1,866

RRE Opportunity REIT:
 
 
 
 
 
 
 
Reimbursement of costs and expenses
204

 
89

 
605

 
769

Dividends paid
28

 
—

 
85

 
14

LEAF:
 
 
 
 
 
 
 
Payment for sub-servicing the commercial finance investment
    partnerships
(197
)
 
(476
)
 
(743
)
 
(1,767
)
Payment for rent and related expenses
(144
)
 
(189
)
 
(543
)
 
(566
)
Reimbursement of costs and expenses
53

 
62

 
168

 
228

1845 Walnut Associates Ltd:
 
 
 
 
 
 
 
Payment for rent and related expenses
(286
)
 
(168
)
 
(476
)
 
(531
)
Property management fees
32

 
—

 
149

 
—

Brandywine Construction & Management, Inc. – payment for
    property management fees for the hotel property
(54
)
 
(49
)
 
(167
)
 
(157
)
Atlas Energy, L.P. – reimbursement of costs and expenses
49

 
156

 
243

 
465

Ledgewood P.C. – payment for legal services 
(76
)
 
(56
)
 
(180
)
 
(409
)
Graphic Images, LLC – payment for printing services
(20
)
 
(80
)
 
(59
)
 
(208
)
The Bancorp, Inc. – reimbursement of costs and expenses
29

 
29

 
85

 
90

9 Henmar, LLC – payment of broker/consulting fees 
(4
)
 
(4
)
 
(24
)
 
(28
)
 
(1)
Includes discounts recorded by the Company of $56,000 and $169,000 recorded in the three and nine months ended September 30, 2013, respectively, and $31,000 and $140,000 in the three and nine months ended September 30, 2012, in connection with management fees from its real estate investment entities that are expected to be received in future periods.
(2)
During the three and nine months ended September 30, 2013, the Company waived $410,000 and $1.5 million, respectively, and $883,000 and $3.2 million during the three and nine months ended September 30, 2012, respectively, of fund management fees from its commercial finance investment entities.