Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related Party Transactions

4. Related Party Transactions

We engage in certain business transactions with related parties, including investment in notes receivables. Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in our best interest.

Pillar is a wholly owned by an affiliates of the MRHI, which owns approximately 90.8% of ARL, which owes approximately 78.4% of TCI, which owns 81.1% of the Company.

Advisor fees paid to Pillar were $1,108, $1,139 and $1,094 for the years ended December 31, 2021, 2020 and 2019, respectively.

Notes receivable are amounts held by UHF (See Note 3 – Notes Receivable). UHF is determined to be a related party due to our significant investment in the performance of the collateral secured by the notes receivable. Interest income on these notes was $1,371, $1,790 and $1,794 for the years ended December 31, 2021, 2020 and 2019, respectively.

Interests income on related party receivables from TCI was $3,582, $3,583 and $4,780 for the years ended December 31, 2021, 2020 and 2019, respectively.

Related party receivables represents amounts outstanding from TCI for loans and advances, net of unreimbursed fees, expenses and costs as provided above.