CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Net investment in real estate properties	$ 3,605,578,000	$ 2,589,826,000
Investments in unconsolidated joint venture partnerships	120,372,000	57,425,000
Debt-related investments, net	260,439,000	105,752,000
Investment in available-for-sale securities, at fair value	14,896,000	0
Cash and cash equivalents	13,336,000	10,605,000
Restricted cash	3,850,000	3,747,000
DST Program Loans	81,897,000	62,123,000
Other assets	74,356,000	56,397,000
Assets held for sale		105,096,000
Total assets	4,174,724,000	2,990,971,000
Liabilities
Accounts payable and accrued expenses	58,097,000	38,182,000
Debt, net	1,616,475,000	1,363,234,000
Intangible lease liabilities, net	42,444,000	47,499,000
Financing obligations, net	1,130,810,000	661,075,000
Other liabilities	114,901,000	89,817,000
Liabilities related to assets held for sale		5,744,000
Total liabilities	2,962,727,000	2,205,551,000
Commitments and contingencies (Note 16)
Redeemable noncontrolling interest	18,130,000	8,994,000
Stockholders' equity:
Preferred stock, $0.01 par value-200,000 shares authorized, none issued and outstanding	0	0
Additional paid-in capital	1,744,022,000	1,457,296,000
Distributions in excess of earnings	(973,395,000)	(865,844,000)
Accumulated other comprehensive income (loss)	13,148,000	(13,418,000)
Total stockholders' equity	785,836,000	579,730,000
Noncontrolling interests	408,031,000	196,696,000
Total equity	1,193,867,000	776,426,000
Total liabilities and equity	4,174,724,000	2,990,971,000
Class T
Stockholders' equity:
Common stock	269,000	164,000
Class S
Stockholders' equity:
Common stock	492,000	358,000
Class D
Stockholders' equity:
Common stock	79,000	67,000
Class I
Stockholders' equity:
Common stock	691,000	544,000
Class E
Stockholders' equity:
Common stock	$ 530,000	$ 563,000