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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Apr. 30, 2012
Sep. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
loan
Joint_Venture
Dec. 31, 2014
USD ($)
loan
Dec. 31, 2013
USD ($)
loan
Aug. 07, 2015
USD ($)
Mar. 22, 2013
Apr. 15, 2011
Schedule of Equity Method Investments [Line Items]                
Investments in unconsolidated joint ventures     $ 33,797,000 $ 6,041,000        
Number of unconsolidated joint ventures | Joint_Venture     1          
Management fee     $ 15,205,000 11,704,000 $ 7,922,000      
Proceeds from sale of mortgage loans held for sale to related party     2,509,090,000 3,523,689,000 2,345,705,000      
Expenses from investment     (15,849,000) (16,864,000) (10,554,000)      
LCRIP I                
Schedule of Equity Method Investments [Line Items]                
Investments in unconsolidated joint ventures     48,771 3,898,000        
Minimum average net equity partnership investment as a basis for management fee reduction     100,000,000          
Management fee     $ 77,400 $ 400,000 $ 800,000      
Number of loans sold to a related party | loan     0 0 1      
Proceeds from sale of mortgage loans held for sale to related party     $ 17,200,000          
Gain on sale of mortgage loans     $ 100,000          
Gain on sale of loans deferred (as a percent)     10.00%          
Maximum additional distribution percentage if return thresholds are met     25.00%          
LCRIP I | LP Units                
Schedule of Equity Method Investments [Line Items]                
Ownership interest (as a percent)     10.00%         10.00%
Percentage of costs related to assets the Company is obligated to provide     10.00%          
Grace Lake JV, LLC                
Schedule of Equity Method Investments [Line Items]                
Investments in unconsolidated joint ventures     $ 2,891,000 $ 2,143,000        
Percentage of equity kicker received with right to convert upon capital event 25.00%              
Preferred return used to determine distribution of excess cash flow (as a percent)     8.25%          
Percentage of distribution of all excess cash flows and all disposition proceeds upon any sale entitled after consideration of preferred return and return of equity remaining in the property to operating partner     25.00%          
Percentage of investment of operating partner     75.00%          
Grace Lake JV, LLC | LP Units                
Schedule of Equity Method Investments [Line Items]                
Ownership interest (as a percent)             25.00%  
Grace Lake JV, LLC | Limited liability company                
Schedule of Equity Method Investments [Line Items]                
Ownership interest (as a percent)     25.00%          
24 Second Avenue                
Schedule of Equity Method Investments [Line Items]                
Investments in unconsolidated joint ventures     $ 30,857,000 $ 0        
Ownership interest (as a percent)     73.80%          
Amount contributed           $ 31,100,000    
Expenses from investment   $ (600,000)            
Interest costs capitalized   $ 300,000            
24 Second Avenue | Operating Partner                
Schedule of Equity Method Investments [Line Items]                
Ownership interest (as a percent)           26.20%