18.   RELATED PARTY TRANSACTIONS



William L. Mack, Chairman of the Board of Directors of the General Partner, David S. Mack, a director of the General Partner, and Earle I. Mack, a former director of the General Partner, are the executive officers, directors and stockholders of a corporation that leases approximately 7,034 square feet at one of the Company’s office properties (the Company disposed of this property in January 2019), which is scheduled to expire in September 2019.  The Company has recognized $193,000,  $187,000 and $193,000 in revenue under this lease for the years ended December 31, 2018,  2017 and 2016, respectively, and had no accounts receivable from the corporation as of December 31, 2018 and 2017. 



The adult children of Marshall Tycher, Chairman of RRT, own minority equity interests in a vendor to the Company.  Additionally, Mr. Tycher’s son-in-law is an employee of the vendor.  The Company recognized $148,000 in expense for this vendor during the year ended December 31, 2018 and had no accounts payable to this vendor as of December 31, 2018.



Certain executive officers of RRT and/or their family members (“RG”) directly or indirectly hold small noncontrolling interests in a certain consolidated joint venture.  Additionally, the Company earned $1,114,000,  $1,873,000, and $2,464,000 from entities in which RG has ownership interests for the years ended December 31, 2018,  2017 and 2016, respectively.

18.   RELATED PARTY TRANSACTIONS



William L. Mack, Chairman of the Board of Directors of the General Partner, David S. Mack, a director of the General Partner, and Earle I. Mack, a former director of the General Partner, are the executive officers, directors and stockholders of a corporation that leases approximately 7,034 square feet at one of the Company’s office properties (the Company disposed of this property in January 2019), which is scheduled to expire in September 2019.  The Company has recognized $193,000,  $187,000 and $193,000 in revenue under this lease for the years ended December 31, 2018,  2017 and 2016, respectively, and had no accounts receivable from the corporation as of December 31, 2018 and 2017. 



The adult children of Marshall Tycher, Chairman of RRT, own minority equity interests in a vendor to the Company.  Additionally, Mr. Tycher’s son-in-law is an employee of the vendor.  The Company recognized $148,000 in expense for this vendor during the year ended December 31, 2018 and had no accounts payable to this vendor as of December 31, 2018.



Certain executive officers of RRT and/or their family members (“RG”) directly or indirectly hold small noncontrolling interests in a certain consolidated joint venture.  Additionally, the Company earned $1,114,000,  $1,873,000, and $2,464,000 from entities in which RG has ownership interests for the years ended December 31, 2018,  2017 and 2016, respectively.