FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Financial assets:
Loans receivable	$ 373,958	$ 377,249
Loans receivable	375,190
Preferred equity investments	65,655	65,171
Preferred equity investments	66,719
Senior Notes
Financial liabilities:
Financial liabilities, face value	1,250,000	1,250,000
Financial liabilities, carrying amount and fair value	1,167,135
Secured Indebtedness
Financial liabilities:
Financial liabilities, face value	43,490	44,021
Financial liabilities, carrying amount and fair value	33,516
Carrying Amount
Financial assets:
Loans receivable	367,015	368,747
Preferred equity investments	65,894	65,353
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,236,333	1,235,726
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	42,756	43,275
Fair Value
Financial assets:
Loans receivable	375,190	381,035
Preferred equity investments	66,719	66,858
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,167,135	1,180,495
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	$ 33,516	$ 34,101