Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (65,927)	$ (304,443)	$ (98,200)
Adjustments to reconcile net loss to net cash provided by operating activities
Management fees	167,100	62,237	19,423
Performance participation allocation	102,348	204,225	15,061
Depreciation and amortization	848,943	330,455	155,864
Amortization of deferred financing costs	37,573	8,547	3,183
Straight-line rent amortization	(12,098)	(12,453)	(8,668)
Deferred income amortization	(13,295)	(3,905)	(1,309)
Unrealized (gain) loss on changes in fair value of financial instruments	(505,658)	(36,009)	9,026
Foreign currency loss	49,536	11,078
Loss on extinguishment of debt	313
Amortization of restricted stock grants	894	537	128
Realized loss on sale of real estate debt	13,162		5,789
Realized loss on sale of real estate-related equity securities	22,021
(Income) loss from unconsolidated real estate ventures	(12,189)	615	1,462
Contributions to investments in unconsolidated real estate ventures			(560)
Distributions of earnings from unconsolidated real estate ventures	11,161	189	276
Other items	4,136	429	8
Change in assets and liabilities
Increase in other assets	(105,356)	(7,265)	(16,806)
Increase (decrease) in due to affiliates	715	3,291	(355)
Increase (decrease) in other liabilities	51,532	(24,401)	28,522
Net cash provided by operating activities	594,911	233,127	112,844
Cash flows from investing activities
Acquisitions of real estate	(5,126,079)	(12,936,421)	(2,977,499)
Capital improvements to real estate	(143,326)	(40,385)	(20,385)
Investment in unconsolidated real estate ventures	(470,181)	(235)
Origination and purchase of investments in real estate debt	(1,091,605)	(802,866)
Purchase of real estate-related equity securities	(85,653)	(175,000)	(73,271)
Proceeds from paydown of principal and settlement of investments in real estate debt	372,974	50,252	126,729
Proceeds from settlement of derivative contracts	57,176
Net cash used in investing activities	(6,486,694)	(13,904,655)	(2,944,426)
Cash flows from financing activities
Proceeds from issuance of common stock, net	4,762,264	5,643,318	853,205
Offering costs paid	(75,639)	(41,682)	(14,768)
Subscriptions received in advance	40,221	496,845	113,532
Repurchase of common stock	(1,347,308)	(64,550)	(43,711)
Borrowings from mortgage notes and revolving credit facility	4,017,869	8,750,402	2,053,047
Repayments of mortgage notes, revolving credit facility and unsecured line of credit	(1,638,583)	(473,025)	(2,385)
Repayments under secured financings on investments in real estate, short term net		(42,557)	(38,478)
Borrowings under secured financings on investments in real estate	644,128	274,028	115,796
Repayments under secured financings on investments in real estate	(128,380)	(65,697)	(50,099)
Payment of deferred financing costs	(64,252)	(70,776)	(13,779)
Contributions from non-controlling interests	14,899	30,879	60,192
Repurchase of non-controlling interests			(58,837)
Distributions to non-controlling interests	(2,291)	(1,133)	(1,860)
Distributions	(311,909)	(117,380)	(35,823)
Net cash provided by financing activities	5,911,019	14,318,672	2,936,032
Effect of exchange rate changes	(3,182)
Net change in cash and cash equivalents and restricted cash	16,054	647,144	104,450
Cash and cash equivalents and restricted cash, beginning of year	940,555	293,411	188,961
Cash and cash equivalents and restricted cash, end of year	956,609	940,555	293,411
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	643,516	274,756	128,650
Restricted cash	313,093	665,799	164,761
Cash and cash equivalents and restricted cash, end of year	956,609	940,555	293,411
Supplemental disclosure of cash flow information:
Cash paid for interest	442,971	122,275	68,904
Non-cash investing and financing activities:
Accrued stockholder servicing fee due to affiliate	171,464	236,971	36,260
Assumption of mortgage notes in conjunction with acquisitions of real estate	267,030	156,515
Issuance of SREIT OP units as consideration for acquisitions of real estate	190,459
Recognition of right of use asset and liability		6,146	6,408
Redeemable non-controlling interest issued as settlement for performance participation allocation	204,225	15,061	10,366
Accrued distributions	49,306	32,696	8,682
Distribution reinvestment	221,093	91,192	41,551
Allocation to redeemable non-controlling interest	$ 21,698	$ 8,250	$ 1,282