Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (776,349,000)	$ (229,374,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Management fee	160,544,000	69,522,000
Performance participation allocation	0	106,383,000
Depreciation and amortization	1,008,756,000	505,986,000
Impairment of investments in real estate	12,343,000	0
Net gains on dispositions of real estate	(100,441,000)	(36,167,000)
Loss on extinguishment of debt	6,495,000	0
Unrealized (gain) loss on changes in fair value of financial instruments	484,332,000	(53,025,000)
Income from unconsolidated entities	(63,678,000)	0
Distributions from unconsolidated entities	57,856,000	0
Other items	(23,996,000)	7,131,000
Change in assets and liabilities:
(Increase) / decrease in other assets	(69,800,000)	(95,832,000)
Increase / (decrease) in due to affiliates	(1,222,000)	4,802,000
Increase / (decrease) in accounts payable, accrued expenses, and other liabilities	34,611,000	93,940,000
Net cash provided by operating activities	729,451,000	373,366,000
Cash flows from investing activities:
Acquisitions of real estate	(3,246,297,000)	(9,827,563,000)
Capital improvements to real estate	(230,749,000)	(135,645,000)
Proceeds from disposition of real estate	385,269,000	74,568,000
Pre-acquisition costs and deposits	(58,274,000)	(9,991,000)
Investment in unconsolidated entities	(808,312,000)	0
Purchase of investments in real estate debt	(1,177,967,000)	(1,623,503,000)
Proceeds from settlement of investments in real estate debt	363,175,000	329,445,000
Purchase of real estate-related equity securities	(703,695,000)	0
Sale of real estate-related equity securities	102,932,000	0
Net cash used in investing activities	(5,373,918,000)	(11,192,689,000)
Cash flows from financing activities:
Proceeds from issuance of common stock	6,014,033,000	4,913,617,000
Offering costs paid	(71,135,000)	(53,548,000)
Subscriptions received in advance	217,461,000	560,444,000
Repurchase of common stock	(996,873,000)	(82,878,000)
Repurchase of management fee shares	(112,664,000)	(72,711,000)
Redemption of redeemable non-controlling interest	(83,625,000)	(35,435,000)
Redemption of affiliate service provider incentive compensation awards	(1,755,000)	(718,000)
Borrowings from mortgage notes, term loans, and secured revolving credit facilities	6,207,729,000	10,036,847,000
Repayments from mortgage notes, term loans, and secured revolving credit facilities	(5,849,236,000)	(4,692,644,000)
Borrowings under repurchase agreements	1,898,018,000	1,152,366,000
Settlement of repurchase agreements	(2,616,391,000)	(219,755,000)
Borrowings from affiliate line of credit	175,000,000	1,883,000,000
Repayments on affiliate line of credit	(175,000,000)	(1,883,000,000)
Borrowings from unsecured revolving credit facilities	130,000,000	240,000,000
Repayments on unsecured revolving credit facilities	(130,000,000)	(240,000,000)
Payment of deferred financing costs	(41,721,000)	(94,726,000)
Contributions from non-controlling interests	22,503,000	50,400,000
Distributions and redemptions to non-controlling interests	(41,202,000)	(31,325,000)
Distributions	(301,788,000)	(94,659,000)
Net cash provided by financing activities	4,243,354,000	11,335,275,000
Net change in cash and cash equivalents and restricted cash	(401,113,000)	515,952,000
Cash and cash equivalents and restricted cash, beginning of period	1,109,702,000	306,613,000
Cash and cash equivalents and restricted cash, end of period	708,589,000	822,565,000
Reconciliation of cash and cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents	240,022,000	155,674,000
Restricted cash	468,567,000	666,891,000
Cash and cash equivalents and restricted cash, end of period	708,589,000	822,565,000
Non-cash investing and financing activities:
Assumption of mortgage notes in conjunction with acquisitions of real estate	224,123,000	1,146,823,000
Assumption of other liabilities in conjunction with acquisitions of real estate	257,000	66,629,000
Issuance of BREIT OP units as consideration for acquisitions of real estate		36,749,000
Recognition of financing lease liability		56,008,000
Assumed operating ground lease liabilities		47,393,000
Accrued pre-acquisition costs	1,203,000	868,000
Contributions from non-controlling interests		2,520,000
Accrued capital expenditures and acquisition related costs	7,168,000	7,187,000
Accrued distributions	27,754,000	23,380,000
Accrued stockholder servicing fee due to affiliate	94,245,000	160,604,000
Redeemable non-controlling interest issued as settlement of performance participation allocation	141,396,000	37,484,000
Allocation to redeemable non-controlling interest	6,731,000	3,875,000
Distribution reinvestment	357,195,000	161,771,000
Accrued common stock repurchases	71,047,000	5,330,000
Accrued common stock repurchases due to affiliate	18,937,000	0
Issuance of BREIT OP units as settlement of affiliate incentive compensation awards		4,714,000
Payable for investments in real estate debt	1,065,000	185,074,000
Class I Shares [Member]
Non-cash investing and financing activities:
Exchange of redeemable non-controlling interest	9,228,000	11,620,000
Class B Units [Member]
Non-cash investing and financing activities:
Exchange of redeemable non-controlling interest	$ 48,543,000	$ 0