FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair value, assets measured on recurring basis

The following tables summarize the financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 ($ in thousands):

	As of June 30, 2022
	Level 1		Level 2		Level 3		Total
Financial assets:
Interest rate derivatives	$	—	$	10,692	$	—	$	10,692
Financial liabilities:
Interest rate derivatives	$	—	$	—	$	—	$	—

	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Financial assets:
Interest rate derivatives	$	—	$	2,979	$	—	$	2,979
Financial liabilities:
Interest rate derivatives	$	—	$	—	$	—	$	—

Fair value, liabilities measured on recurring basis

The following tables summarize the financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 ($ in thousands):

	As of June 30, 2022
	Level 1		Level 2		Level 3		Total
Financial assets:
Interest rate derivatives	$	—	$	10,692	$	—	$	10,692
Financial liabilities:
Interest rate derivatives	$	—	$	—	$	—	$	—

	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Financial assets:
Interest rate derivatives	$	—	$	2,979	$	—	$	2,979
Financial liabilities:
Interest rate derivatives	$	—	$	—	$	—	$	—

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 June 30, 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
		June 30, 2022				December 31, 2021
	Level in Fair Value Hierarchy	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Loans held for investment	3	$	2,605,893	$	2,604,734	$	2,414,383	$	2,408,463
Financial liabilities:
Secured funding agreements	2	$	853,059	$	853,059	$	840,047	$	840,047
Notes payable	3	—		—		50,358		51,110
Secured term loan	3	149,107		145,141		149,016		150,000
Collateralized loan obligation securitization debt (consolidated VIEs)	3	851,337		824,874		861,188		863,403
Secured borrowings	3	22,635		22,533		22,589		22,715