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FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2022:
Level 1Level 2Level 3Total
Financial assets:
Interest rate derivatives$— $8,498 $— $8,498 
Fair Value, Liabilities Measured on Recurring Basis
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2022:
Level 1Level 2Level 3Total
Financial assets:
Interest rate derivatives$— $8,498 $— $8,498 
Schedule of carrying value and estimated fair value of the Company's financial instruments not carried at fair value on the consolidated balance sheet
As of March 31, 2022 and December 31, 2021, the carrying values and fair values of the Company’s financial assets and liabilities recorded at cost are as follows ($ in thousands):
As of
March 31, 2022December 31, 2021
Level in Fair Value HierarchyCarrying ValueFair
Value		Carrying ValueFair
Value
Financial assets:
Loans held for investment3$2,421,772 $2,420,694 $2,414,383 $2,408,463 
Financial liabilities:
Secured funding agreements2$740,022 $740,022 $840,047 $840,047 
Notes payable322,631 22,835 50,358 51,110 
Secured term loan3149,061 150,000 149,016 150,000 
Collateralized loan obligation securitization debt (consolidated VIEs)3861,788 853,157 861,188 863,403 
Secured borrowings322,612 22,715 22,589 22,715