v3.24.2
JOINT VENTURES AND PARTNERSHIPS - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Combined summary of balance sheets relating to unconsolidated joint ventures                
Total real estate, net $ 9,497,848   $ 9,497,848     $ 9,756,029    
Investments, at fair value 958,943   958,943     952,934    
Cash and cash equivalents 2,770 $ 1,544 2,770 $ 1,544   2,922   $ 1,193
Other assets 195,958   195,958     209,969    
Total assets 11,117,805   11,117,805     11,373,242    
Accounts payable and accrued liabilities 120,784   120,784     141,311    
Total liabilities 6,373,304   6,373,304     6,420,801    
Total equity 3,722,719 4,120,173 3,722,719 4,120,173 $ 3,919,278 3,991,354 $ 3,921,109 $ 4,098,295
Financial information relating to unconsolidated joint ventures operations                
Total revenues 415,320 404,548 828,954 804,097        
Property operating expenses 70,443 68,861 143,921 133,695        
Real estate depreciation and amortization 170,488 168,925 340,346 338,225        
Gain/(loss) on sale of real estate owned   325,884 16,867 325,885        
Operating income/(loss) 68,666 396,503 148,425 462,687        
Interest expense (47,811) (45,113) (95,873) (88,855)        
Other income/(loss) 6,498 10,447 12,363 11,457        
Net income/(loss) 31,013 370,183 77,323 403,108        
Unconsolidated Joint Ventures and Partnerships                
Combined summary of balance sheets relating to unconsolidated joint ventures                
Total real estate, net 3,158,681   3,158,681     3,158,057    
Investments, at fair value 305,418   305,418     257,832    
Cash and cash equivalents 69,423   69,423     61,670    
Other assets 134,973   134,973     146,976    
Total assets 3,668,495   3,668,495     3,624,535    
Third party debt, net 2,033,372   2,033,372     2,012,816    
Accounts payable and accrued liabilities 169,254   169,254     171,502    
Total liabilities 2,202,626   2,202,626     2,184,318    
Total equity 1,465,869   1,465,869     $ 1,440,217    
Financial information relating to unconsolidated joint ventures operations                
Total revenues 78,013 63,702 154,269 124,377        
Property operating expenses 35,793 26,478 70,728 54,511        
Real estate depreciation and amortization 38,091 25,605 75,053 50,033        
Operating income/(loss) 4,129 11,619 8,488 19,833        
Interest expense (25,571) (23,113) (50,108) (47,064)        
Other income/(loss) (1,520) (1,324) (3,348) 998        
Net unrealized/realized gain/(loss) on held investments 5,349 (6,263) 32,749 3,526        
Net income/(loss) $ (17,613) $ (19,081) $ (12,219) $ (22,707)