CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Net investment in real estate properties	$ 3,619,719	$ 2,589,826
Investment in unconsolidated joint venture partnerships	106,343	57,425
Debt-related investments, net	151,612	105,752
Cash and cash equivalents	24,245	10,605
Restricted cash	3,788	3,747
DST Program Loans	88,597	62,123
Other assets	79,373	56,397
Assets held for sale	0	105,096
Total assets	4,073,677	2,990,971
Liabilities
Accounts payable and accrued expenses	67,552	38,182
Debt, net	1,566,225	1,363,234
Intangible lease liabilities, net	43,652	47,499
Financing obligations, net	1,153,175	661,075
Other liabilities	106,678	89,817
Liabilities related to assets held for sale	0	5,744
Total liabilities	2,937,282	2,205,551
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest	18,170	8,994
Stockholders' equity:
Preferred stock, $0.01 par value-200,000 shares authorized, none issued and outstanding
Additional paid-in capital	1,717,360	1,457,296
Distributions in excess of earnings	(925,083)	(865,844)
Accumulated other comprehensive loss	12,778	(13,418)
Total stockholders' equity	807,081	579,730
Noncontrolling interests	311,144	196,696
Total equity	1,118,225	776,426
Total liabilities and equity	4,073,677	2,990,971
Class T
Stockholders' equity:
Common stock	247	164
Class S
Stockholders' equity:
Common stock	481	358
Class D
Stockholders' equity:
Common stock	79	67
Class I
Stockholders' equity:
Common stock	682	544
Class E
Stockholders' equity:
Common stock	$ 537	$ 563