Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Assets
Investments in real estate, net		$ 22,247,401	$ 17,185,079
Investments in real estate debt		1,657,663	954,077
Investments in unconsolidated real estate ventures		481,632	10,422
Cash and cash equivalents		643,516	274,756
Restricted cash		313,093	665,799
Other assets		1,421,548	881,298
Total assets		26,764,853	19,971,431
Liabilities and Equity
Mortgage notes and revolving credit facility, net	[1]	14,355,458	11,274,411
Secured financings on investments in real estate debt		751,771	268,181
Unsecured line of credit			375,000
Other liabilities		507,399	339,506
Subscriptions received in advance		40,221	496,845
Due to affiliates		537,114	513,268
Total liabilities		16,191,963	13,267,211
Commitments and contingencies
Redeemable non-controlling interest		427,099	30,502
Equity
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; none issued and outstanding as of December 31, 2022 and 2021
Additional paid-in capital		11,466,270	7,388,885
Accumulated other comprehensive loss		(24,307)	(530)
Accumulated deficit and cumulative distributions		(1,355,256)	(757,575)
Total stockholder’s equity		10,091,765	6,634,227
Non-controlling interests in consolidated joint ventures		54,026	39,491
Total equity		10,145,791	6,673,718
Total liabilities and equity		26,764,853	19,971,431
Common Stock Class T
Equity
Common stock value		57	46
Common Stock Class S
Equity
Common stock value		2,246	1,544
Common Stock Class D
Equity
Common stock value		310	221
Common Stock Class I
Equity
Common stock value		$ 2,445	$ 1,636

[1] The majority of the Company’s mortgages contain prepayment provisions including (but not limited to) lockout periods, yield or spread maintenance provisions and fixed penalties.