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FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Interest Rate Swaps and Caps The following table presents our derivative instruments as of June 30, 2023 and December 31, 2022:
    Estimated Fair Value
      Asset Balance
Hedged DebtTypeStrike RateIndexEffective DateDerivative Contract Maturity DateNotional AmountJune 30, 2023December 31, 2022
Term Loan Instruments:        
Credit FacilitySwap1.341 %
1-Month SOFR + 2.50%
August 30, 2022September 10, 2024$270,000 $12,026 $14,123 
Credit FacilitySwap1.279 %
1-Month SOFR + 2.50%
September 6, 2022August 4, 202430,000 1,261 1,533 
        
Mortgages:        
Hyatt, Union Square, New York, NYSwap1.870 %
1-Month LIBOR + 2.30%
June 7, 2019June 7, 202356,000 — 699 
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 844 1,007 
Hilton Garden Inn Tribeca, New York, NYSwap1.768 %
1-Month LIBOR + 2.25%
July 25, 2019July 25, 202422,725 844 1,007 
Hilton Garden Inn 52nd Street, New York, NYCap4.000 %1-Month SOFRDecember 4, 2022December 1, 202344,325 242 340 
Hyatt, Union Square, New York, NYSwap4.988 %
1-Month SOFR + 2.40%
June 7, 2023June 7, 202456,000 136 — 
     $15,353 $18,709