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INCOME TAXES (Tables) | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) |
| For the Three Months Ended | For the Six Months Ended
| June 30, 2025 |  | June 30, 2024 | June 30, 2025 |  | June 30, 2024
| (dollars in thousands) | (dollars in thousands)
Current Tax Expense (Benefit) |  |  |  |  |  |
Federal | $ | — |  |  | $ | — |  | $ | — |  |  | $ | — |
State and local | — |  |  | 13 |  | 13 |  |  | 13 |
Total current income tax expense (benefit) | $ | — |  |  | $ | 13 |  | $ | 13 |  |  | $ | 13 |
Deferred Tax Expense (Benefit) |  |  |  |  |  |
Federal | $ | 385 |  |  | $ | 10,427 |  | $ | 7,607 |  |  | $ | 9,603 |
State and local | 55 |  |  | 1,491 |  | 1,087 |  |  | 1,372 |
Total deferred income tax expense (benefit) | $ | 440 |  |  | $ | 11,918 |  | $ | 8,694 |  |  | $ | 10,975 |
Total income tax expense (benefit) | $ | 440 |  |  | $ | 11,931 |  | $ | 8,707 |  |  | $ | 10,988 |
Schedule of Effective Income Tax Rate Reconciliation | The difference between the Company's reported income tax provision and the U.S. federal statutory rate of 21.0% and state income tax rates is as follows:
| For the Three Months Ended | For the Six Months Ended
| June 30, 2025 |  | June 30, 2024 | June 30, 2025 |  | June 30, 2024
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % | 21.0 | % |  | 21.0 | %
Non-taxable REIT income | (8.8 | %) |  | 258.9 | % | (12.8 | %) |  | (22.7 | %)
State and local taxes | 3.0 | % |  | 3.0 | % | 3.0 | % |  | 3.0 | %
VIE and Other | (14.5 | %) |  | 102.2 | % | (6.8 | %) |  | 1.0 | %
Change in valuation allowance | — | % |  | — | % | — | % |  | — | %
Total provision | 0.7 | % |  | 385.1 | % | 4.3 | % |  | 2.4 | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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