FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Financial assets:
Loans receivable	$ 377,249	$ 391,010
Loans receivable	381,035
Preferred equity investments	65,171	60,915
Preferred equity investments	66,858
Senior Notes
Financial liabilities:
Financial liabilities	1,250,000	1,750,000
Financial liabilities	1,180,495
Secured Indebtedness
Financial liabilities:
Financial liabilities	44,021	46,110
Financial liabilities	34,101
Carrying Amount
Financial assets:
Loans receivable	368,747	381,468
Preferred equity investments	65,353	61,116
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities	1,235,726	1,736,025
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities	43,275	45,316
Fair Value
Financial assets:
Loans receivable	381,035	397,791
Preferred equity investments	66,858	62,765
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities	1,180,495	1,617,779
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities	$ 34,101	$ 33,635