Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Investments in real estate, net	$ 122,605	$ 60,773
Investments in unconsolidated real estate entities	98,591	89,284
Investments in real estate-related securities, at fair value	4,747	877
Intangible assets, net	7,497	7,600
Cash and cash equivalents	2,123	2,968
Restricted cash	859	750
Other assets	12,135	586
Total assets	248,557	162,838
LIABILITIES
Mortgage note and revolving credit facility, net	81,281	67,700
Due to affiliates	11,623	4,868
Accounts payable, accrued expenses and other liabilities	3,537	1,844
Total liabilities	96,441	74,412
Commitments and contingencies (See Note 14)	0	0
Redeemable common stock, $0.01 par value per share, 5,536,905 and 3,247,457 shares issued and outstanding, respectively	155,169	83,194
EQUITY
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; 125 shares issued and outstanding ($500.00 per share liquidation preference)	41	41
Additional paid-in capital	8,401	9,276
Accumulated deficit and cumulative distributions	(11,502)	(4,089)
Total equity	(3,053)	5,232
Total liabilities, redeemable common stock and equity	248,557	162,838
Class T Common Stock
EQUITY
Common stock	0	0
Class S Common Stock
EQUITY
Common stock	0	0
Class D Common Stock
EQUITY
Common stock	0	0
Class I Common Stock
EQUITY
Common stock	0	0
Class E Common Stock
EQUITY
Common stock	2	0
Class N Common Stock
EQUITY
Common stock	$ 5	$ 4