CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Net investment in real estate properties	$ 6,646,196	$ 4,820,892
Investment in unconsolidated joint venture partnership(s)	19,492	101,769
Cash and cash equivalents	81,948	216,848
Restricted cash	450	887
DST Program Loans	137,299	68,772
Other assets	182,102	39,941
Total assets	7,067,487	5,249,109
Liabilities
Accounts payable and accrued liabilities	125,580	42,211
Debt, net	2,735,701	2,245,673
Intangible lease liabilities, net	96,922	76,432
Financing obligations, net	1,131,810	483,964
Distribution fees payable to affiliates	95,061	85,419
Other liabilities	188,900	116,064
Total liabilities	4,373,974	3,049,763
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests	69,597	15,687
Stockholders' equity:
Preferred stock, $0.01 par value - 200,000 shares authorized, none issued and outstanding
Additional paid-in capital	3,188,972	2,475,715
Accumulated deficit and distributions	(643,963)	(297,570)
Accumulated other comprehensive income	75,474	2,631
Total stockholders' equity	2,623,604	2,183,347
Noncontrolling interests	312	312
Total equity	2,623,916	2,183,659
Total liabilities and equity	7,067,487	5,249,109
Class T Shares
Stockholders' equity:
Common stock, value	2,308	2,061
Class D Shares
Stockholders' equity:
Common stock, value	197	136
Class I Shares
Stockholders' equity:
Common stock, value	$ 616	$ 374