CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Net investment in real estate properties	$ 3,659,577	$ 2,589,826
Investment in unconsolidated joint venture partnerships	105,404	57,425
Debt-related investments, net	108,206	105,752
Cash and cash equivalents	19,529	10,605
Restricted cash	4,909	3,747
DST Program Loans	86,706	62,123
Other assets	57,732	56,397
Assets held for sale	0	105,096
Total assets	4,042,063	2,990,971
Liabilities
Accounts payable and accrued expenses	60,423	38,182
Debt, net	1,765,292	1,363,234
Intangible lease liabilities, net	46,605	47,499
Financing obligations, net	1,052,194	661,075
Other liabilities	98,452	89,817
Liabilities related to assets held for sale	0	5,744
Total liabilities	3,022,966	2,205,551
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest	18,164	8,994
Stockholders' equity:
Preferred stock, $0.01 par value-200,000 shares authorized, none issued and outstanding
Additional paid-in capital	1,655,295	1,457,296
Distributions in excess of earnings	(882,795)	(865,844)
Accumulated other comprehensive loss	(1,703)	(13,418)
Total stockholders' equity	772,748	579,730
Noncontrolling interests	228,185	196,696
Total equity	1,000,933	776,426
Total liabilities and equity	4,042,063	2,990,971
Class T
Stockholders' equity:
Common stock	217	164
Class S
Stockholders' equity:
Common stock	462	358
Class D
Stockholders' equity:
Common stock	79	67
Class I
Stockholders' equity:
Common stock	647	544
Class E
Stockholders' equity:
Common stock	$ 546	$ 563