Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Investments in real estate, net	$ 746,317	$ 434,373
Investments in unconsolidated entities	121,300	115,285
Investments in real estate-related securities, at fair value	25,333	12,685
Intangible assets, net	33,519	21,977
Cash and cash equivalents	16,144	13,754
Restricted cash	9,227	1,745
Other assets	16,768	12,558
Total assets	968,608	612,377
LIABILITIES
Revolving credit facility	62,100	75,500
Mortgage notes payable, net	374,045	161,653
Financing obligation, net	53,752	53,619
Due to affiliates	21,241	16,930
Accounts payable, accrued expenses and other liabilities	16,446	5,907
Total liabilities	527,584	313,609
Commitments and contingencies (See Note 15)	0	0
Class N redeemable common stock, $0.01 par value per share, 10,020,128 and 7,372,812 shares issued and outstanding, respectively	327,340	224,667
Redeemable non-controlling interest in INREIT OP	3,173	0
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	125,789	94,097
Accumulated deficit and cumulative distributions	(46,207)	(24,150)
Total stockholders' equity	79,683	70,030
Non-controlling interests in consolidated joint ventures	30,828	4,071
Total equity	110,511	74,101
Total liabilities, redeemable equity instruments and equity	968,608	612,377
Class T Common Stock
EQUITY
Common stock	4	2
Class S Common Stock
EQUITY
Common stock	4	2
Class D Common Stock
EQUITY
Common stock	4	2
Class I Common Stock
EQUITY
Common stock	26	2
Class E Common Stock
EQUITY
Common stock	22	22
Class N Common Stock
EQUITY
Common stock	$ 0	$ 12