CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net loss	$ (251,944)	$ (68,229)
Adjustments to reconcile net loss to net cash provided by operating activities:
Real estate-related depreciation and amortization	192,604	67,186
Amortization of debt and financing obligation costs	5,460	1,570
Financing obligation liability appreciation	17,882	0
Equity in income from unconsolidated joint venture partnership(s)	33	(6,493)
(Gain) loss on changes in fair value of interest rate caps	(25,546)	2
Performance participation allocation	136,480	45,932
Straight-line rent and amortization of above- and below-market leases	(26,568)	(7,969)
Other	2,072	1,073
Changes in operating assets and liabilities	29,978	11,726
Net cash provided by operating activities	80,451	44,798
Investing activities:
Real estate acquisitions	(1,460,868)	(1,476,938)
Incremental investment to acquire joint venture partnership portfolio	(259,526)	(585,021)
Capital expenditures	(133,115)	(16,362)
Investment in unconsolidated joint venture partnership(s)	(8,782)	(4,402)
Distributions from joint venture partnerships	0	5,200
Other	129	0
Net cash used in investing activities	(1,862,162)	(2,077,523)
Financing activities:
Proceeds from mortgage note	367,830	209,250
Proceeds from line of credit	945,000	640,000
Repayments of line of credit	(945,000)	(566,000)
Proceeds from term loan	135,000	600,000
Debt issuance costs paid	(17,857)	(7,239)
Interest rate cap premium	(2,963)	0
Proceeds from issuance of common stock, net	805,070	969,035
Proceeds from financing obligations, net	562,889	166,911
Offering costs paid in connection with issuance of common stock and private placements	(4,033)	(23,343)
Distributions paid to common stockholders, redeemable noncontrolling interest holders and preferred shareholders	(42,275)	(24,945)
Distribution fees paid to affiliates	(19,163)	(10,515)
Redemptions of common stock	(97,209)	(15,836)
Redemptions of redeemable noncontrolling interests	(40,915)	(3,588)
Net cash provided by financing activities	1,646,374	1,933,730
Net decrease in cash, cash equivalents and restricted cash	(135,337)	(98,995)
Cash, cash equivalents and restricted cash, at beginning of period	217,735	232,899
Cash, cash equivalents and restricted cash, at end of period	$ 82,398	$ 133,904