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SEGMENTS (Details)
$ in Thousands
 3 Months Ended 8 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2020
USD ($)
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Sep. 30, 2018
segment
Dec. 31, 2020
USD ($)
segment
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Apr. 30, 2018
USD ($)
Segment Reporting Information [Line Items]                            
Number of reportable segments | segment                   2 1      
Segment Reporting Information, Profit (Loss) [Abstract]                            
Total revenue $ 45,540 $ 44,138 $ 43,910 $ 44,406 $ 45,777 $ 47,436 $ 46,934 $ 45,608 $ 121,871   $ 177,994 $ 185,755 $ 121,871 $ 169,745
Property operating expenses, including real estate taxes                 3,663   5,801 6,186   5,526
Net Operating Income (Loss)                 71,152   104,836 107,440   96,711
Property management expenses                 (3,663)   (5,801) (6,186)   (5,526)
Casualty loss                 (915)   (1,662) (1,116)   (500)
Depreciation and amortization                 (50,456)   (75,593) (74,271)   (82,070)
Impairment of real estate investments                 (1,221)         (18,065)
General and administrative expenses                 (9,812)   (13,440) (14,450)   (14,254)
General and administrative expenses                           (14,203)
Acquisition and investment related costs                           (51)
Interest expense                 (21,359)   (27,525) (30,537)   (34,178)
Loss on extinguishment of debt                 (556)   (23) (2,360)   (940)
Interest and other income (loss)                 1,233   (1,552) 2,092   1,508
Income (loss) before gain (loss) on sale of real estate and other investments, gain (loss) on litigation settlement, and income (loss) from discontinued operations                 (15,597)   (20,760) (19,388)   (57,314)
Gain (loss) on sale of real estate and other investments                 9,707   25,503 97,624   20,120
Gain (loss) on litigation settlement                 0   0 6,586   0
Income (loss) from continuing operations                 (5,890)   4,743 84,822   (37,194)
Income (loss) from discontinued operations                 570   0 0   164,823
NET INCOME (LOSS)                 (5,320)   4,743 84,822   127,629
Segment Assets [Abstract]                            
Property owned 1,812,557       1,643,078           1,812,557 1,643,078    
Less accumulated depreciation (399,249)       (349,122)           (399,249) (349,122)    
Real Estate Investment Property, Net, Total 1,413,308       1,293,956           1,413,308 1,293,956    
Cash and cash equivalents 392       26,579       13,792   392 26,579 13,792 11,891
Restricted cash 6,918       19,538       5,464   6,918 19,538 $ 5,464 4,225
Other assets 18,904       34,829           18,904 34,829    
Unimproved land 0       1,376           0 1,376    
Mortgage loans receivable 24,661       16,140           24,661 16,140    
TOTAL ASSETS 1,464,183       1,392,418           1,464,183 1,392,418    
MultiFamily Same-Store | Operating Segments                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Total revenue                 96,234   171,231 155,635   159,983
Net Operating Income (Loss)                 56,874   101,187 91,726   89,523
Segment Assets [Abstract]                            
Property owned 1,779,378       1,572,529           1,779,378 1,572,529    
Less accumulated depreciation (387,989)       (319,318)           (387,989) (319,318)    
Real Estate Investment Property, Net, Total 1,391,389       1,253,211           1,391,389 1,253,211    
All Other | Operating Segments                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Total revenue                 25,637   6,763 30,120   9,762
Net Operating Income (Loss)                 14,278   3,649 15,714   7,188
Segment Assets [Abstract]                            
Property owned 33,179       70,549           33,179 70,549    
Less accumulated depreciation (11,260)       (29,804)           (11,260) (29,804)    
Real Estate Investment Property, Net, Total $ 21,919       $ 40,745           21,919 40,745    
Real Estate                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Property operating expenses, including real estate taxes                 50,719   73,158 78,315   73,034
Property management expenses                 (50,719)   (73,158) (78,315)   (73,034)
Real Estate | MultiFamily Same-Store | Operating Segments                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Property operating expenses, including real estate taxes                 39,360   70,044 63,909   70,460
Property management expenses                 (39,360)   (70,044) (63,909)   (70,460)
Real Estate | All Other | Operating Segments                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Property operating expenses, including real estate taxes                 11,359   3,114 14,406   2,574
Property management expenses                 (11,359)   (3,114) (14,406)   (2,574)
Management Service                            
Segment Reporting Information, Profit (Loss) [Abstract]                            
Property operating expenses, including real estate taxes                 3,663   5,801 6,186   5,526
Property management expenses                 $ (3,663)   $ (5,801) $ (6,186)   $ (5,526)