DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Cap Derivatives

The following table summarizes the terms of the Company’s interest rate cap agreements as of September 30, 2023 (dollar amounts in thousands):

		Outstanding Notional					Fair Value of Assets as of
	Balance Sheet	Amount as of		Strike	Effective	Maturity	September 30,
	Location	September 30, 2023		Rates (1)	Dates	Dates	2023
Interest Rate Caps	Other assets	$	166,600	2.5% to 4.5%	8/07/2022 to 5/03/2023	6/07/2024 to 7/07/2025	$	2,966

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(1)The index used for the Company’s interest rate cap agreements is 1-Month Term SOFR.