Summary of Significant Accounting Policies and Estimates (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Assets Measured at Fair Value on a Recurring Basis

The following table details the Company’s assets measured at fair value on a recurring basis:

	September 30, 2023						December 31, 2022
	Level 2		Level 3		Total		Level 2		Level 3		Total
Assets:
Investments in unconsolidated real estate affiliates	$	—	$	465,359	$	465,359	$	—	$	—	$	—
Investments in real estate debt	24,004		63,116		87,120		23,816		50,000		73,816
Derivatives	40,325		—		40,325		11,766		—		11,766
Total	$	64,329	$	528,475	$	592,804	$	35,582	$	50,000	$	85,582

Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Level 3 Inputs

The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs:

	Investments in real estate debt		Investments in unconsolidated real estate affiliates
Balance as of December 31, 2022	$	50,000	$	—
Purchases	18,838		447,821
Sales	(5,722)		—
Distributions received	—		(12,172)
Income from unconsolidated real estate affiliates measured at fair value	—		29,710
Balance as of September 30, 2023	$	63,116	$	465,359