Related Party Transactions - Additional Information (Details) - USD ($)		1 Months Ended		3 Months Ended	12 Months Ended
	Mar. 11, 2022	Jan. 31, 2024	Jan. 31, 2023	Mar. 21, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Related Party Transaction [Line Items]
Performance participation allocation						$ 102,348,000	$ 204,225,000
Repurchase of common stock					102,511,499	49,115,155	2,835,117
Total consideration					$ 2,611,115,000	$ 1,347,308,000	$ 64,550,000
Leasing and legal service fees					800,000	200,000	0
General and Administrative Expense					$ 45,144,000	44,708,000	25,404,000
Percentage of management fee on NAV per annum					1.25%
Percentage of management fee on aggregate DST property consideration per annum					1.25%
Management fees					$ 153,411,000	167,100,000	62,237,000
Due to affiliates					$ 484,358,000	507,399,000
Annual hurdle percentage					5.00%
Operating expenses					$ 748,522,000	650,594,000	248,651,000
Dealer Manager
Related Party Transaction [Line Items]
Cost of legal services					200,000	400,000	100,000
Starwood Capital and Third Party
Related Party Transaction [Line Items]
Purchase Price	$ 109,200,000
Accrued Affiliate Service Provider Expenses | Rental property operating
Related Party Transaction [Line Items]
Operating expenses					25,800,000	17,300,000	6,700,000
Accrued Affiliate Service Provider Expenses | Essex Service Provider
Related Party Transaction [Line Items]
Cost of legal services					1,500,000	$ 4,300,000	$ 1,900,000
Class I Unit
Related Party Transaction [Line Items]
Units issued as payment for performance participation allocation						3,886,034	7,872,930
Class I Unit | Common Stock
Related Party Transaction [Line Items]
Employees and affiliates holdining interest					$ 519,700,000
Subsequent Event
Related Party Transaction [Line Items]
Total consideration				$ 500,000,000
Unregistered Class I shares
Related Party Transaction [Line Items]
Stock issued as management fees, shares			551,733		5,673,483	5,598,108
Management fees, accrued					$ 10,800,000	$ 14,500,000
Unregistered Class I shares | Subsequent Event
Related Party Transaction [Line Items]
Stock issued as management fees, shares		473,622
Common Stock Class I
Related Party Transaction [Line Items]
Repurchase of common stock					60,147,804	32,146,156	1,450,765
Common Stock Class T, Class S and Class D | Accrued Stockholder Servicing Fee
Related Party Transaction [Line Items]
Due to affiliates					$ 301,000,000	$ 413,000,000
Special Limited Partner
Related Party Transaction [Line Items]
Related party allocation percentage of annual total return					12.50%
Special Limited Partner | Advanced Expenses | Unaffiliated Third Party
Related Party Transaction [Line Items]
Due to affiliates					$ 100,000	100,000
All Other Unit Holders [Member]
Related Party Transaction [Line Items]
Related party allocation percentage of annual total return					87.50%
Dealer Manager | Common Stock Class T, Class S and Class D | Accrued Stockholder Servicing Fee | Maximum
Related Party Transaction [Line Items]
Annual stockholder servicing fee percentage					8.75%
Starwood Retail Partners
Related Party Transaction [Line Items]
Leasing and legal service fees					$ 200,000		$ 0
Advisor | Advanced Organization And Offering Costs
Related Party Transaction [Line Items]
Due to affiliates								$ 7,300,000
Advisor | Advanced Expenses | One Month in Arrears
Related Party Transaction [Line Items]
General and Administrative Expense					$ 14,500,000	$ 15,800,000	6,700,000
Advisor and Certain Director Shares | Common Stock Class I
Related Party Transaction [Line Items]
Repurchase of common stock					3,188,721	2,488,926
Total consideration					$ 80,600,000	$ 68,500,000
Affiliate Service Provider Expenses
Related Party Transaction [Line Items]
Cost of legal services					300,000	500,000	$ 600,000
SCG Southern Europe
Related Party Transaction [Line Items]
Services fee for accounting and administrative matters					$ 300,000	$ 300,000