FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Financial assets:
Loans receivable	$ 387,072	$ 391,010
Loans receivable	393,268
Preferred equity investments	62,864	60,915
Preferred equity investments	64,532
Senior Notes
Financial liabilities:
Financial liabilities, face value	1,750,000	1,750,000
Financial liabilities, carrying amount and fair value	1,649,820
Secured Indebtedness
Financial liabilities:
Financial liabilities, face value	45,072	46,110
Financial liabilities, carrying amount and fair value	33,542
Carrying Amount
Financial assets:
Loans receivable	377,923	381,468
Preferred equity investments	63,047	61,116
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,736,398	1,736,025
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	44,302	45,316
Fair Value
Financial assets:
Loans receivable	393,268	397,791
Preferred equity investments	64,532	62,765
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,649,820	1,617,779
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	$ 33,542	$ 33,635