Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Assets
Investments in real estate, net		$ 17,225,002	$ 17,185,079
Investments in real estate debt		1,031,340	954,077
Investments in unconsolidated real estate ventures		11,351	10,422
Cash and cash equivalents		1,506,939	274,756
Restricted cash		662,445	665,799
Other assets		1,230,024	881,298
Total assets		21,667,101	19,971,431
Liabilities and Equity
Mortgage notes and revolving credit facility, net	[1]	11,286,940	11,274,411
Secured financings on investments in real estate debt		260,697	268,181
Unsecured line of credit			375,000
Other liabilities		360,148	339,506
Subscriptions received in advance		500,014	496,845
Due to affiliates		471,316	513,268
Total liabilities		12,879,115	13,267,211
Commitments and contingencies
Redeemable non-controlling interest		244,880	30,502
Equity
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; none issued and outstanding as of March 31, 2022 and December 31, 2021
Additional paid-in capital		9,347,732	7,388,885
Accumulated other comprehensive loss		(4,918)	(530)
Accumulated deficit and cumulative distributions		(845,384)	(757,575)
Total stockholders’ equity		8,501,670	6,634,227
Non-controlling interests in consolidated joint ventures		41,436	39,491
Total equity		8,543,106	6,673,718
Total liabilities and equity		21,667,101	19,971,431
Common Stock Class T
Equity
Common stock value		54	46
Common Stock Class S
Equity
Common stock value		1,887	1,544
Common Stock Class D
Equity
Common stock value		275	221
Common Stock Class I
Equity
Common stock value		$ 2,024	$ 1,636

[1] The majority of the Company’s mortgages contain yield or spread maintenance provisions.