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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Jan. 31, 2024
USD ($)
unit
Jan. 31, 2024
USD ($)
unit
Jun. 30, 2024
USD ($)
jointVenture
shares
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
jointVenture
shares
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
shares
Noncontrolling Interest [Line Items]              
Investment in short-term deposits   $ 265,000     $ 265,000 $ 0  
Short-term deposits     $ 120,000   $ 120,000   $ 0
Short-term deposits, interest rate (as a percent)     5.34%   5.34%    
Interest income         $ 6,200    
Variable interest entity, number of entities | jointVenture     2   2    
Assets of VIEs     $ 6,958,920   $ 6,958,920   $ 6,944,078
Number of investments in unconsolidated joint ventures | jointVenture     4   4    
Gain on sale         $ (1,466) 28,440  
Gain on sale of unconsolidated property     $ 0 $ 0 2,325 0  
Distribution from unconsolidated joint venture         $ 1,618 $ 0  
Limited partners' capital account, units outstanding (in shares) | shares     3,707,004   3,707,004   3,512,868
Glendale Center Apartments              
Noncontrolling Interest [Line Items]              
Ownership percentage in equity method investment (as a percent) 11.50% 11.50%          
Gain on sale $ 20,200            
Gain on sale of unconsolidated property         $ 2,300    
Distribution from unconsolidated joint venture         $ 1,600    
Glendale Center Apartments | Multifamily              
Noncontrolling Interest [Line Items]              
Number of multifamily rental units | unit 267 267          
One Loudoun Downtown - Pads G & H              
Noncontrolling Interest [Line Items]              
Noncontrolling interest, ownership percentage by parent (as a percent)     90.00%   90.00%    
Operating Partnership              
Noncontrolling Interest [Line Items]              
Noncontrolling interest, ownership percentage by parent (as a percent)     98.30%   98.30%   98.40%
Noncontrolling interest, ownership percentage by limited partners (as a percent)     1.70%   1.70%   1.60%
Variable Interest Entities              
Noncontrolling Interest [Line Items]              
Mortgage debt of VIEs     $ 110,900   $ 110,900    
Assets of VIEs     $ 217,300   $ 217,300