Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details)

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INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2015
USD ($)
security
Dec. 31, 2014
USD ($)
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 3,328,343  
Other Than Temporary Impairment - Amortized Cost Basis (2,498) $ (1,127)
After Impairment 1,893,519  
Carrying Value - Total $ 1,907,961  
Weighted Average Life (Years) 11 months 2 days  
Securities in an Unrealized Loss Position Less than Twelve Months [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 1,171,377  
Before Impairment - Amortized Cost Basis 311,767  
Other Than Temporary Impairment - Amortized Cost Basis [1] (1,120)  
After Impairment 310,647  
Gross Unrealized Losses - Less than Twelve Months (6,221)  
Carrying Value - Less than Twelve Months $ 304,426  
Number of Securities - Less than Twelve Months | security 43  
Weighted Average Rating [2] BB  
Weighted Average Coupon 1.43%  
Weighted Average Yield 4.41%  
Weighted Average Life (Years) 9 years 3 months 22 days  
Securities in an Unrealized Loss Position Twelve Months or Greater [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 176,335  
Before Impairment - Amortized Cost Basis 176,534  
Other Than Temporary Impairment - Amortized Cost Basis [1] 0  
After Impairment 176,534  
Gross Unrealized Losses - Twelve or More Months (3,204)  
Carrying Value - Twelve or More Months $ 173,330  
Number of Securities - Twelve or More Months | security 23  
Weighted Average Rating [2] AAA  
Weighted Average Coupon 2.37%  
Weighted Average Yield 2.60%  
Weighted Average Life (Years) 5 years 4 months 8 days  
Securities in a Loss Position [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Outstanding Face Amount $ 1,347,712  
Before Impairment - Amortized Cost Basis 488,301  
Other Than Temporary Impairment - Amortized Cost Basis [1] (1,120)  
After Impairment 487,181  
Gross Unrealized Losses - Total (9,425)  
Carrying Value - Total $ 477,756  
Number of Securities - Total | security 66  
Weighted Average Rating [2] BBB+  
Weighted Average Coupon 1.77%  
Weighted Average Yield 3.75%  
Weighted Average Life (Years) 7 years 10 months 16 days  
[1] This amount represents other-than-temporary impairment recorded on securities that are in an unrealized loss position as of June 30, 2015.
[2] The weighted average rating of securities in an unrealized loss position for less than twelve months excludes the rating of 10 bonds which either have never been rated or for which rating information is no longer provided.