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OPERATING PARTNERSHIP UNITS (Q2) (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
Business Combinations [Abstract] |  |
Class M OP Units Conversion | In the event that the Class M OP Units are converted into Class C OP Units prior to December 31, 2023, such Class M OP Units shall be exchanged at the rate indicated below:
Date of Exchange |  | Early Conversion Rate
From December 31, 2020 to December 30, 2021 |  | 50% of the Class M conversion ratio
From December 31, 2021 to December 30, 2022 |  | 60% of the Class M conversion ratio
From December 31, 2022 to December 30, 2023 |  | 70% of the Class M conversion ratio
The Class M OP Units are eligible for an increase in the conversion ratio (conversion ratio enhancement) if the Company achieves both of the targets for AUM and AFFO in a given year as set forth below and as adjusted for the 1:3 reverse stock split:
|  | Hurdles |  |
|  | AUM ($ in billions) |  |  | AFFO Per Share ($) |  | Class M Conversion Ratio
Initial Conversion Ratio |  |  |  |  |  |  | 1:1.6667
Fiscal Year 2021 |  | $ | 0.860 |  |  | $ | 1.77 |  | 1:1.9167
Fiscal Year 2022 |  | $ | 1.175 |  |  | $ | 1.95 |  | 1:2.5000
Fiscal Year 2023 |  | $ | 1.551 |  |  | $ | 2.10 |  | 1:3.0000
| In the event that the Class M OP Units are converted into Class C OP Units prior to December 31, 2023, such Class M OP Units shall be exchanged at the rate indicated below:
Date of Exchange |  | Early Conversion Rate
From December 31, 2020 to December 30, 2021 |  | 50% of the Class M conversion ratio
From December 31, 2021 to December 30, 2022 |  | 60% of the Class M conversion ratio
From December 31, 2022 to December 30, 2023 |  | 70% of the Class M conversion ratio
The Class M OP Units are eligible for an increase in the conversion ratio (conversion ratio enhancement) if the Company achieves both of the targets for assets under management (“AUM”) and adjusted funds from operations (“AFFO”) in a given year as set forth below and as adjusted for the 1:3 reverse stock split:
|  | Hurdles |  |
|  | AUM ($ in billions) |  |  | AFFO Per Share ($) |  | Class M Conversion Ratio
Initial Conversion Ratio |  |  |  |  |  |  | 1:1.6667
Fiscal Year 2021 |  | $ | 0.860 |  |  | $ | 1.77 |  | 1:1.9167
Fiscal Year 2022 |  | $ | 1.175 |  |  | $ | 1.95 |  | 1:2.5000
Fiscal Year 2023 |  | $ | 1.551 |  |  | $ | 2.10 |  | 1:3.0000

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- Definition Tabular disclosure of information related to converting stock into another financial instrument(s) in a noncash (or part noncash) transaction. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4313-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4304-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4332-108586 + Details
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