Summary of Significant Accounting Policies and Estimates (Tables)

3 Months Ended

Mar. 31, 2024

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:

	March 31, 2024						December 31, 2023
	Level 2		Level 3		Total		Level 2		Level 3		Total
Assets:
Investments in unconsolidated real estate affiliates	$	—	$	1,527,034	$	1,527,034	$	—	$	699,570	$	699,570
Investments in real estate debt	30,388		51,816		82,204		30,974		56,235		87,209
Interest rate hedging derivatives	21,232		—		21,232		6,945		—		6,945
Foreign currency hedging derivatives	3,920		—		3,920		5,065		—		5,065
Total	$	55,540	$	1,578,850	$	1,634,390	$	42,984	$	755,805	$	798,789
Liabilities:
Interest rate hedging derivatives	1,559		$	—	1,559		$	4,651	$	—	$	4,651
Foreign currency hedging derivatives	5,074		—		5,074		6,820		—		6,820
DST financing obligation	—		18,378		18,378		—		13,694		13,694
Total	$	6,633	$	18,378	$	25,011	$	11,471	$	13,694	$	25,165

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		Total Assets		DST Financing Obligation
Balance as of December 31, 2023	$	56,235	$	699,570	$	755,805	$	13,694
Purchases	—		813,419		813,419		—
Sales	(4,419)		—		(4,419)		—
Distributions received	—		(19,113)		(19,113)		—
DST Program proceeds	—		—		—		4,510
Included in net income
Loss on fair value of DST financing obligation	—		—		—		174
Income from unconsolidated real estate affiliates measured at fair value	—		33,158		33,158		—
Balance as of March 31, 2024	$	51,816	$	1,527,034	$	1,578,850	$	18,378