INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES - Summary of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Real estate under development	$ 533,295		$ 533,295		$ 447,390
Investments in and advances to unconsolidated affiliates	166,632		166,632		184,352
Total assets	2,973,699		2,973,699		2,732,600
Other liabilities	27,616		27,616		25,148
Total liabilities and equity	2,973,699		2,973,699		2,732,600
Distributions in excess of income from, and investments in, unconsolidated affiliates	(13,161)		(13,161)		(12,564)
Total revenues	53,161	$ 49,511	105,642	$ 96,196
Operating Expenses	(40,122)	(30,677)	(77,455)	(62,641)
Equity in earnings of unconsolidated affiliates	3,406	1,430	9,999	4,459
Depreciation and amortization	(13,903)	(11,584)	(27,561)	(23,171)
Loss on debt extinguishment	(25)	(66)	(134)	(269)
Income from continuing operations	85,458	11,308	123,995	30,423
Unconsolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Rental property, net	322,352		322,352		387,739
Real estate under development	0		0		60,476
Investments in and advances to unconsolidated affiliates	7,548		7,548		11,154
Other assets	59,917		59,917		62,862
Total assets	389,817		389,817		522,231
Loans Payable to Bank	266,109		266,109		315,897
Other liabilities	17,714		17,714		66,116
Partners’ equity	105,994		105,994		140,218
Total liabilities and equity	389,817		389,817		$ 522,231
Total revenues	10,342	12,247	22,015	24,352
Operating Expenses	(3,102)	(5,503)	(6,833)	(9,318)
Interest Expense	(2,259)	(2,975)	(4,897)	(5,500)
Equity in earnings of unconsolidated affiliates	0	0	66,655	(328)
Depreciation and amortization	(2,787)	(3,475)	(5,037)	(6,181)
Loss on debt extinguishment	0	0	0	(187)
Gain (Loss) On Disposition Of Property Of Equity Method Investment	25,208	239	25,208	239
Income from continuing operations	27,402	533	97,111	3,077
Operating Partnership, as General Partner or Managing Member
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated affiliates	20,511	1,430	27,104	4,459
Company’s share of net income	20,609	1,528	27,300	4,655
Amortization of Excess Investment	$ (98)	$ (98)	$ (196)	$ (196)