FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Financial assets:
Loans receivable	$ 55,218	$ 377,249
Loans receivable	51,077
Preferred equity investments	67,012	65,171
Preferred equity investments	68,105
Senior Notes
Financial liabilities:
Financial liabilities, face value	1,250,000	1,250,000
Financial liabilities, carrying amount and fair value	1,168,554
Secured Indebtedness
Financial liabilities:
Financial liabilities, face value	42,955	44,021
Financial liabilities, carrying amount and fair value	33,012
Carrying Amount
Financial assets:
Loans receivable	47,854	368,747
Preferred equity investments	67,224	65,353
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,236,940	1,235,726
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	42,233	43,275
Fair Value
Financial assets:
Loans receivable	51,077	381,035
Preferred equity investments	68,105	66,858
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities, carrying amount and fair value	1,168,554	1,180,495
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities, carrying amount and fair value	$ 33,012	$ 34,101