Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Investments in real estate, net	$ 32,505,382	$ 32,457,713
Investments in unconsolidated entities (includes $383,343 and $0 at fair value as of March 31, 2021 and December 31, 2020, respectively)	1,209,809	816,220
Investments in real estate debt	4,896,416	4,566,306
Cash and cash equivalents	574,130	333,388
Restricted cash	1,370,434	711,135
Other assets	2,222,594	1,799,253
Total assets	42,778,765	40,684,015
Liabilities and Equity
Mortgage notes, term loans, and secured revolving credit facilities, net	19,638,711	19,976,161
Secured financings on investments in real estate debt	1,491,509	2,140,993
Due to affiliates	896,640	887,660
Other liabilities	2,280,567	1,465,194
Total liabilities	24,307,427	24,470,008
Commitments and contingencies
Redeemable non-controlling interests	32,222	30,056
Equity
Preferred stock, $0.01 par value per share, 100,000 shares authorized; no shares issued and outstanding as of March 31, 2021 and December 31, 2020
Additional paid-in capital	21,507,160	19,059,045
Accumulated deficit and cumulative distributions	(3,485,251)	(3,224,318)
Total stockholders' equity	18,042,112	15,852,726
Non-controlling interests attributable to third party joint ventures	142,932	143,253
Non-controlling interests attributable to BREIT OP unitholders	254,072	187,972
Total equity	18,439,116	16,183,951
Total liabilities and equity	42,778,765	40,684,015
Class S Shares [Member]
Equity
Common stock value	7,835	7,029
Class T Shares [Member]
Equity
Common stock value	471	459
Class D Shares [Member]
Equity
Common stock value	1,470	1,241
Class I Shares [Member]
Equity
Common stock value	$ 10,427	$ 9,270