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Equity and Redeemable Non-controlling Interest (Tables)
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Schedule of Common Stock Outstanding Roll Forward
The following tables detail the movement in the Company’s outstanding shares of common stock:
Nine Months Ended September 30, 2022
Class T
Shares		Class S
Shares		Class D
Shares		Class I
Shares		Class E
Shares		Class N
Shares		Total
Balance at December 31, 2021
186,821 186,821 186,821 186,715 2,244,581 8,556,509 11,548,268 
Issuance of common stock165,035 165,035 165,035 279,643 1,814 2,213,413 2,989,975 
Distribution reinvestment— — — 458 2,133 — 2,591 
Balance at March 31, 2022351,856 351,856 351,856 466,816 2,248,528 10,769,922 14,540,834 
Issuance of common stock838 — 24,365 398,375 5,099 1,392,047 1,820,724 
Common stock repurchased(1)
— — — (291,818)— (149,616)(441,434)
Exchange of common stock(2)
— — — 2,028,085 — (1,992,225)35,860 
Distribution reinvestment— — 21 1,892 2,130 — 4,043 
Balance at June 30, 2022352,694 351,856 376,242 2,603,350 2,255,757 10,020,128 15,960,027 
Issuance of common stock45,375 — 115,191 502,883 22,075 365,118 1,050,642 
Distribution reinvestment1 — 73 2,807 2,055 — 4,936 
Balance at September 30, 2022398,070 351,856 491,506 3,109,040 2,279,887 10,385,246 17,015,605 

Nine Months Ended September 30, 2021
Class T
Shares		Class S
Shares		Class D
Shares		Class I
Shares		Class E
Shares		Class N
Shares		Total
Balance at December 31, 2020— — — — — 3,608,830 3,608,830 
Issuance of common stock— — — — — 2,636,645 2,636,645 
Distribution reinvestment— — — — — 32 32 
Balance at March 31, 2021— — — — — 6,245,507 6,245,507 
Issuance of common stock91 91 91 — — 1,154 1,427 
Exchange of common stock(3)
— — — — 156,066 (156,066)— 
Distribution reinvestment— — — 492 — — 492 
Balance at June 30, 202191 91 91 492 156,066 6,090,595 6,247,426 
Issuance of common stock— — — — 801,593 2,290,960 3,092,553 
Common stock repurchased(4)
— — — — — (785,025)(785,025)
Distribution reinvestment— — — 7 1,172 — 1,179 
Balance at September 30, 202191 91 91 499 958,831 7,596,530 8,556,133 
(1)We repurchased 149,616 Class N shares under MassMutual’s subscription agreement and 291,818 Class I shares as permitted under Invesco Realty, Inc.’s subscription agreement.    
(2)On June 29, 2022, we issued 2,028,085 unregistered Class I shares of common stock to an affiliate of our Adviser in exchange for 1,992,225 of Class N shares with an equivalent aggregate NAV based on the NAV per share of Class I shares and Class N shares as of May 31, 2022.
(3)On May 14, 2021, we exchanged 156,066 Class N shares of our common stock held by our directors and employees of the Adviser and its affiliates, for no additional consideration, on a one-for-one basis for Class E shares of our common stock.
(4)In accordance with MassMutual’s Subscription Agreement, on August 5, 2021, we repurchased 785,025 of Class N shares held by MassMutual for $20.0 million.
Schedule of Aggregate Distributions Declared
The following tables detail the aggregate distributions declared per share for each applicable class of stock for the three and nine months ended September 30, 2022 and 2021:
Three Months Ended September 30, 2022
Series A
Preferred Stock		Class T
Common Stock		Class S
Common Stock		Class D
Common Stock		Class I
Common Stock		Class E
Common Stock		Class N
Common Stock
Aggregate distributions declared per share$— $0.4170 $0.4170 $0.4170 $0.4170 $0.4170 $0.4170 
Stockholder servicing fee per share(1)
— (0.0033)— (0.0046)— — — 
Net distributions declared per share$— $0.4137 $0.4170 $0.4124 $0.4170 $0.4170 $0.4170 
Three Months Ended September 30, 2021
Series A
Preferred Stock		Class T
Common Stock		Class S
Common Stock		Class D
Common Stock		Class I
Common Stock		Class E
Common Stock		Class N
Common Stock
Aggregate distributions declared per share$— $0.4076 $0.4076 $0.4076 $0.4076 $0.4076 $0.4076 
Stockholder servicing fee per share(1)
— (0.0602)(0.0602)(0.0178)— — — 
Net distributions declared per share$— $0.3474 $0.3474 $0.3898 $0.4076 $0.4076 $0.4076 
Nine Months Ended September 30, 2022
Series A
Preferred Stock		Class T
Common Stock		Class S
Common Stock		Class D
Common Stock		Class I
Common Stock		Class E
Common Stock		Class N
Common Stock
Aggregate distributions declared per share$31.2500 $1.2637 $1.2637 $1.2637 $1.2637 $1.2637 $1.2637 
Stockholder servicing fee per share(1)(2)
— 0.0078 0.0115 (0.0019)— — — 
Net distributions declared per share$31.2500 $1.2715 $1.2752 $1.2618 $1.2637 $1.2637 $1.2637 
Nine Months Ended September 30, 2021
Series A
Preferred Stock		Class T
Common Stock		Class S
Common Stock		Class D
Common Stock		Class I
Common Stock		Class E
Common Stock		Class N
Common Stock
Aggregate distributions declared per share$31.2500 $0.5396 $0.5396 $0.5396 $0.6698 $0.6698 $1.2598 
Stockholder servicing fee per share(1)
— (0.0797)(0.0797)(0.0235)— — — 
Net distributions declared per share$31.2500 $0.4599 $0.4599 $0.5161 $0.6698 $0.6698 $1.2598 
(1)See Note 14 — “Related Party Transactions” for a discussion of the stockholder servicing fees.
(2)For the nine months ended September 30, 2022, the stockholder servicing fee for Class T and Class S Common Stock results in a net distribution higher than the gross distribution because it includes an adjustment for stockholder servicing fees deducted from prior monthly distributions.
Redeemable Noncontrolling Interest The following table details the non-controlling interest activity related to the Special Limited Partner:
Three Months Ended September 30,Nine Months Ended September 30,
$ in thousands2022202120222021
Net loss allocated$(4)$— $(303)$— 
Distributions$44 $— $118 $— 
Adjustment to carrying value $53 $— $181 $—