RECEIVABLE FROM AND PAYABLE TO RELATED PARTIES (Tables)

3 Months Ended

Mar. 31, 2015

Receivable From And Payable To Affiliates

RECEIVABLE FROM AND PAYABLE TO RELATED PARTIES

The agreement provides for excess cash to be invested in and managed by our Advisor, Pillar, a related party.  The table below reflects the various transactions between IOT, Pillar, and TCI (dollars in thousands):

	TCI		Pillar			Total
Balance, December 31, 2014	$	40,460	$	-		$	40,460
Cash transfers		-		1,997			1,997
Advisory fees		-		(175	)		(175	)
Net income fee		-		(45	)		(45	)
Cost reimbursements		-		(68	)		(68	)
Expenses paid by advisor		-		(2	)		(2	)
Financing (mortgage payments)		-		(367	)		(367	)
Interest income		393		-			393
Purchase of obligation		1,340		(1,340	)		-
Balance, March 31, 2015	$	42,193	$	-		$	42,193