INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Net Income to REIT Taxable Income

The provision for income taxes results in effective tax rates that differ from federal and state statutory rates. A reconciliation of the provision for income tax attributable to the TRSs’ income from continuing operations computed at federal statutory rates to the income tax provision reported in the financial statements is as follows:

	Year Ended December 31,
	2024		2023
	(in thousands)
Income from continuing operations before income taxes for TRSs	$	3,742	$	4,711
Expected federal income tax provision	$	785	$	989
State income taxes	1		44
Change in valuation allowance	151		(2,619)
Other	(139)		2,814
Income tax provision	$	798	$	1,228

Schedule of Components of Net Deferred Tax Asset

The components of the Company’s net deferred tax asset, which are included in other assets, are as follows:

	December 31,
	2024		2023
	(in thousands)
Deferred tax assets:
Net operating losses	$	196	$	44
Secured borrowings—government guaranteed loans	5		21
Other	286		232
Total gross deferred tax assets	487		297
Valuation allowance	(205)		(52)
	282		245
Deferred tax liabilities:
Loans receivable	—		—
	—		—
Deferred tax asset, net	$	282	$	245