REAL ESTATE DISPOSITIONS (Tables)

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the U.S. federal statutory income tax rate to our effective income tax rate for the transaction’s taxable gain:

	Year Ended December 31,
	2024		2023		2022
U.S. federal statutory income tax rate	21	%	21	%	21	%
Net capital loss carryforwards utilized	—	%	—	%	(3)	%
Change in valuation allowance	—	%	—	%	(1)	%
Effective rate	21	%	21	%	17	%

Schedule of Revenue and Expenses of Real Estate Held-for-Sale

The following table summarizes certain revenues and expenses related to these properties for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Years Ended December 31,
	2024		2023		2022
Revenues
Rental income	$	7,403	$	13,822	$	19,186
Hotel revenues	—		—		20,983
Other operating income	287		631		621
Total revenues	$	7,690	$	14,453	$	40,790
Expenses
Operating, maintenance, and management	$	1,999	$	3,812	$	6,017
Real estate taxes and insurance	1,505		5,552		5,270
Hotel expenses	—		—		12,669
Asset management fees to affiliates	945		1,542		1,823
Depreciation and amortization	2,475		4,559		5,607
Interest expense, net	4,196		7,091		8,519
Total expenses	$	11,120	$	22,556	$	39,905