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SEGMENT REPORTING - Schedule of Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Feb. 06, 2019
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Income Statement [Abstract]        
Interest income   $ 86,466 $ 78,206  
Interest expense   (51,248) (44,713)  
Net interest income   35,218 33,493  
Provision for loan losses   (300) (3,000)  
Net interest income after provision for loan losses   34,918 30,493  
Operating lease income     28,137  
Operating property income   28,921    
Sale of loans, net   7,079 4,888  
Realized gain (loss) on securities   2,865 (1,099)  
Unrealized gain (loss) on equity securities   2,078 0  
Unrealized gain (loss) on Agency interest-only securities   11 204  
Realized gain on sale of real estate, net   4 31,010  
Impairment of real estate   (1,350) 0 $ 0
Fee and other income   4,685 6,252  
Net result from derivative transactions   (11,034) 14,959  
Earnings (loss) from investment in unconsolidated joint ventures   959 52  
Gain (loss) on extinguishment of debt $ (1,100) (1,070) (69)  
Total other income (loss)   33,148 84,334  
Salaries and employee benefits   (23,574) (17,096)  
Operating expenses   (5,403) (5,548)  
Real estate operating expenses   (5,474) (8,817)  
Fee expense   (1,712) (843)  
Depreciation and amortization   (10,227) (10,823)  
Total costs and expenses   (46,390) (43,127)  
Income Tax (expense) benefit   2,854 (3,902)  
Net income (loss)   24,530 67,798  
Total assets   6,525,419 [1] 6,272,872 6,272,872 [1]
Investment in unconsolidated joint ventures [1]   93,841   40,354
Investment in FHLB stock [1]   61,619   57,915
Professional Fees   2,500 2,900  
Operating Segment        
Income Statement [Abstract]        
Investment in unconsolidated joint ventures   93,800   40,400
Operating Segment | Loans        
Income Statement [Abstract]        
Interest income   73,152 70,009  
Interest expense   (14,756) (13,566)  
Net interest income   58,396 56,443  
Provision for loan losses   (300) (3,000)  
Net interest income after provision for loan losses   58,096 53,443  
Operating lease income     0  
Operating property income   0    
Sale of loans, net   7,079 4,888  
Realized gain (loss) on securities   0 0  
Unrealized gain (loss) on equity securities   0    
Unrealized gain (loss) on Agency interest-only securities   0 0  
Realized gain on sale of real estate, net   0 0  
Impairment of real estate   0    
Fee and other income   3,310 3,063  
Net result from derivative transactions   (5,198) 6,889  
Earnings (loss) from investment in unconsolidated joint ventures   0 0  
Gain (loss) on extinguishment of debt   0 (69)  
Total other income (loss)   5,191 14,771  
Salaries and employee benefits   0 0  
Operating expenses   0 86  
Real estate operating expenses   0 0  
Real estate acquisition costs      
Fee expense   (1,194) (616)  
Depreciation and amortization   0 0  
Total costs and expenses   (1,194) (530)  
Income Tax (expense) benefit   0 0  
Net income (loss)   62,093 67,684  
Total assets   3,489,582 3,482,929  
Operating Segment | Securities        
Income Statement [Abstract]        
Interest income   13,119 8,014  
Interest expense   (2,488) (856)  
Net interest income   10,631 7,158  
Provision for loan losses   0 0  
Net interest income after provision for loan losses   10,631 7,158  
Operating lease income     0  
Operating property income   0    
Sale of loans, net   0 0  
Realized gain (loss) on securities   2,865 (1,099)  
Unrealized gain (loss) on equity securities   2,078    
Unrealized gain (loss) on Agency interest-only securities   11 204  
Realized gain on sale of real estate, net   0 0  
Impairment of real estate   0    
Fee and other income   403 0  
Net result from derivative transactions   (5,836) 8,070  
Earnings (loss) from investment in unconsolidated joint ventures   0 0  
Gain (loss) on extinguishment of debt   0 0  
Total other income (loss)   (479) 7,175  
Salaries and employee benefits   0 0  
Operating expenses   0 0  
Real estate operating expenses   0 0  
Real estate acquisition costs      
Fee expense   (100) (110)  
Depreciation and amortization   0 0  
Total costs and expenses   (100) (110)  
Income Tax (expense) benefit   0 0  
Net income (loss)   10,052 14,223  
Total assets   1,619,128 1,410,126  
Operating Segment | Real Estate        
Income Statement [Abstract]        
Interest income   8 5  
Interest expense   (8,882) (7,854)  
Net interest income   (8,874) (7,849)  
Provision for loan losses   0 0  
Net interest income after provision for loan losses   (8,874) (7,849)  
Operating lease income     28,137  
Operating property income   28,921    
Sale of loans, net   0 0  
Realized gain (loss) on securities   0 0  
Unrealized gain (loss) on equity securities   0    
Unrealized gain (loss) on Agency interest-only securities   0 0  
Realized gain on sale of real estate, net   4 31,010  
Impairment of real estate   (1,350)    
Fee and other income   7 1,782  
Net result from derivative transactions   0 0  
Earnings (loss) from investment in unconsolidated joint ventures   959 52  
Gain (loss) on extinguishment of debt   (1,070) 0  
Total other income (loss)   27,471 60,981  
Salaries and employee benefits   0 0  
Operating expenses   0 0  
Real estate operating expenses   (5,474) (8,817)  
Real estate acquisition costs      
Fee expense   (418) (117)  
Depreciation and amortization   (10,202) (10,804)  
Total costs and expenses   (16,094) (19,738)  
Income Tax (expense) benefit   0 0  
Net income (loss)   2,503 33,394  
Total assets   1,099,838 1,038,376  
Corporate/Other        
Income Statement [Abstract]        
Interest income   187 178  
Interest expense   (25,122) (22,437)  
Net interest income   (24,935) (22,259)  
Provision for loan losses   0 0  
Net interest income after provision for loan losses   (24,935) (22,259)  
Operating lease income     0  
Operating property income   0    
Sale of loans, net   0 0  
Realized gain (loss) on securities   0 0  
Unrealized gain (loss) on equity securities   0    
Unrealized gain (loss) on Agency interest-only securities   0 0  
Realized gain on sale of real estate, net   0 0  
Impairment of real estate   0    
Fee and other income   965 1,407  
Net result from derivative transactions   0 0  
Earnings (loss) from investment in unconsolidated joint ventures   0 0  
Gain (loss) on extinguishment of debt   0 0  
Total other income (loss)   965 1,407  
Salaries and employee benefits   (23,574) (17,096)  
Operating expenses   (5,403) (5,634)  
Real estate operating expenses   0 0  
Real estate acquisition costs      
Fee expense   0 0  
Depreciation and amortization   (25) (19)  
Total costs and expenses   (29,002) (22,749)  
Income Tax (expense) benefit   2,854 (3,902)  
Net income (loss)   (50,118) (47,503)  
Total assets   316,871 $ 341,441  
Investment in FHLB stock   61,600   57,900
Deferred tax liabilities   (900)   2,300
Corporate/Other | Senior Unsecured Notes        
Income Statement [Abstract]        
Senior Notes   $ 1,200,000   $ 1,200,000
[1] Includes amounts relating to consolidated variable interest entities. See Note 3.