Starwood Real Estate Income Trust 10-K 28 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Starwood Real Estate Income Trust, Inc.
Entity Central Index Key	0001711929
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float	$ 0
Entity File Number	000-56046
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	82-2023409
Entity Address, Address Line One	2340 Collins Avenue
Entity Address, City or Town	Miami Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33139
City Area Code	305
Local Phone Number	695-5500
Document Annual Report	true
Document Transition Report	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	New York, New York
Common Stock Class T
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,358,693
Title of 12(g) Security	Class T Common Stock, $0.01 par value per share
No Trading Symbol Flag	true
Common Stock Class S
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		188,684,205
Title of 12(g) Security	Class S Common Stock, $0.01 par value per share
No Trading Symbol Flag	true
Common Stock Class D
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		27,451,364
Title of 12(g) Security	Class D Common Stock, $0.01 par value per share
No Trading Symbol Flag	true
Common Stock Class I
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		201,947,123
Title of 12(g) Security	Class I Common Stock, $0.01 par value per share
No Trading Symbol Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Assets
Investments in real estate, net		$ 17,185,079	$ 4,597,054
Investments in real estate debt		954,077	218,225
Investments in unconsolidated real estate ventures		10,422	10,991
Cash and cash equivalents		274,756	128,650
Restricted cash		665,799	164,761
Other assets		881,298	211,135
Total assets		19,971,431	5,330,816
Liabilities and Equity
Mortgage notes and revolving credit facility, net	[1]	11,274,411	3,278,762
Secured financings on investments in real estate debt		268,181	108,254
Unsecured line of credit		375,000
Other liabilities		339,506	117,072
Subscriptions received in advance		496,845	113,532
Due to affiliates		513,268	96,371
Total liabilities		13,267,211	3,713,991
Commitments and contingencies
Redeemable non-controlling interest		30,502	10,409
Equity
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; none issued and outstanding as of December 31, 2021 and 2020
Additional paid-in capital		7,388,885	1,819,526
Accumulated other comprehensive loss		(530)
Accumulated deficit and cumulative distributions		(757,575)	(224,198)
Total stockholder’s equity		6,634,227	1,596,237
Non-controlling interests in consolidated joint ventures		39,491	10,179
Total equity		6,673,718	1,606,416
Total liabilities and equity		19,971,431	5,330,816
Common Stock Class T
Equity
Common stock value		46	25
Common Stock Class S
Equity
Common stock value		1,544	464
Common Stock Class D
Equity
Common stock value		221	28
Common Stock Class I
Equity
Common stock value		$ 1,636	$ 392
[1]	T he majority of the Company’s mortgages contain yield or spread maintenance provisions.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized shares	100,000,000	100,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, shares outstanding	344,796,271	90,894,853
Common Stock Class T
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	4,648,436	2,463,182
Common stock, shares outstanding	4,648,436	2,463,182
Common Stock Class S
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	154,381,036	46,431,661
Common stock, shares outstanding	154,381,036	46,431,661
Common Stock Class D
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	22,142,299	2,847,097
Common stock, shares outstanding	22,142,299	2,847,097
Common Stock Class I
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	163,624,500	39,152,913
Common stock, shares outstanding	163,624,500	39,152,913

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total revenues	$ 642,905	$ 298,423	$ 94,308
Expenses
General and administrative	25,404	8,624	4,523
Management fees	62,237	19,423	5,469
Performance participation allocation	204,225	15,061	10,366
Depreciation and amortization	330,455	155,864	38,896
Total expenses	870,972	312,156	101,224
Other income (expense)
(Loss) income from unconsolidated real estate ventures	(615)	(1,462)	175
Income from investments in real estate debt	45,156	7,206	10,158
Interest expense	(124,091)	(88,918)	(25,311)
Other income (expense), net	3,174	(1,293)	916
Total other expense	(76,376)	(84,467)	(14,062)
Net loss	(304,443)	(98,200)	(20,978)
Net loss attributable to non-controlling interests in consolidated joint ventures	434	1,300	152
Net loss attributable to non-controlling interests in Operating Partnership	1,758	642
Net loss attributable to stockholders	$ (302,251)	$ (96,258)	$ (20,826)
Net loss per share of common stock, basic and diluted	$ (1.49)	$ (1.35)	$ (0.91)
Weighted-average shares of common stock outstanding, basic and diluted	203,300,648	71,502,374	23,032,351
Comprehensive loss:
Net loss	$ (304,443)	$ (98,200)	$ (20,978)
Other comprehensive loss item:
Foreign currency translation adjustments	(530)
Other comprehensive loss	(530)
Comprehensive loss	(304,973)	(98,200)	(20,978)
Rental revenue
Revenues
Total revenues	604,574	273,847	51,790
Hospitality revenue
Revenues
Total revenues	33,301	22,200	40,559
Other revenue
Revenues
Total revenues	5,030	2,376	1,959
Rental property operating
Expenses
Operating expenses	227,949	96,942	18,463
Hospitality operating
Expenses
Operating expenses	$ 20,702	$ 16,242	$ 23,507

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands	Total	Common StockCommon Stock Class T	Common StockCommon Stock Class S	Common StockCommon Stock Class D	Common StockCommon Stock Class I	Additional Paid-in Capital	Accumulated Deficit and Cumulative Distributions	Accumulated Other Comprehensive Loss	Total Stockholders' Equity	Non-Controlling Interests
Balance at Dec. 31, 2018	$ 147,122		$ 66		$ 15	$ 148,770	$ (1,729)		$ 147,122
Common stock issued	766,173	$ 14	192	$ 17	145	765,805			766,173
Offering costs	(42,156)					(42,156)			(42,156)
Distribution reinvestments	11,227		4		1	11,222			11,227
Amortization of restricted stock grants	71					71			71
Common stock repurchased	(206)					(206)			(206)
Net loss	(20,978)						(20,826)		(20,826)	$ (152)
Contributions from non-controlling interests	12,520									12,520
Distributions to non-controlling interests	(384)									(384)
Distributions declared on common stock (see Note 10)	(24,142)						(24,142)		(24,142)
Balance at Dec. 31, 2019	849,247	14	262	17	161	883,506	(46,697)		837,263	11,984
Common stock issued	982,179	12	201	11	233	981,722			982,179
Offering costs	(42,390)					(42,390)			(42,390)
Distribution reinvestments	41,551		11		6	41,534			41,551
Amortization of restricted stock grants	128					128			128
Common stock repurchased	(43,711)	(1)	(10)		(8)	(43,692)			(43,711)
Net loss	(98,200)
Net loss (allocated to redeemable non- controlling interest)	(97,558)						(96,258)		(96,258)	(1,300)
Contributions from non-controlling interests	60,192									60,192
Distributions to non-controlling interests	(1,860)									(1,860)
Repurchase of non-controlling interests	(58,837)									(58,837)
Distributions declared on common stock (see Note 10)	(81,243)						(81,243)		(81,243)
Allocation to redeemable non-controllinginterest	(1,282)					(1,282)			(1,282)
Balance at Dec. 31, 2020	1,606,416	25	464	28	392	1,819,526	(224,198)		1,596,237	10,179
Common stock issued	5,811,737	21	1,072	192	1,243	5,809,209			5,811,737
Offering costs	(258,769)					(258,769)			(258,769)
Distribution reinvestments	91,192		21	1	15	91,155			91,192
Amortization of restricted stock grants	537					537			537
Common stock repurchased	(64,550)		(13)		(14)	(64,523)			(64,550)
Net loss	(304,443)
Net loss (allocated to redeemable non- controlling interest)	(302,685)						(302,251)		(302,251)	(434)
Contributions from non-controlling interests	30,879									30,879
Distributions to non-controlling interests	(1,133)									(1,133)
Distributions declared on common stock (see Note 10)	(231,126)						(231,126)		(231,126)
Other comprehensive loss, net	(530)							$ (530)	(530)
Allocation to redeemable non-controllinginterest	(8,250)					(8,250)			(8,250)
Balance at Dec. 31, 2021	$ 6,673,718	$ 46	$ 1,544	$ 221	$ 1,636	$ 7,388,885	$ (757,575)	$ (530)	$ 6,634,227	$ 39,491

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Of Stockholders Equity [Abstract]
Net loss allocated to redeemable non controlling interest	$ 1,758	$ 642

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (304,443)	$ (98,200)	$ (20,978)
Adjustments to reconcile net loss to net cash provided by operating activities
Management fees	62,237	19,423	5,469
Performance participation allocation	204,225	15,061	10,366
Depreciation and amortization	330,455	155,864	38,896
Amortization of deferred financing costs	8,547	3,183	1,050
Straight-line rent amortization	(12,453)	(8,668)	(829)
Deferred income amortization	(3,905)	(1,309)	(1,566)
Unrealized (gain) loss on changes in fair value of financial instruments	(36,009)	9,026	256
Foreign currency loss	11,078
Loss (gain) on sales of investments in real estate debt		5,789	(600)
Amortization of restricted stock grants	537	128	71
Contributions to investments in unconsolidated real estate ventures		(560)
Distributions from investments in unconsolidated real estate ventures	189	276	551
Loss (earnings) from unconsolidated real estate ventures	615	1,462	(175)
Other items	429	8	20
Change in assets and liabilities
Increase in other assets	(7,265)	(16,806)	(7,950)
Increase (decrease) in due to affiliates	3,291	(355)	460
(Decrease) increase in other liabilities	(24,401)	28,522	26,064
Net cash provided by operating activities	233,127	112,844	51,105
Cash flows from investing activities
Acquisitions of real estate	(12,936,421)	(2,977,499)	(1,607,245)
Capital improvements to real estate	(40,385)	(20,385)	(7,610)
Investment in unconsolidated real estate ventures	(235)
Origination and purchase of investments in real estate debt	(802,866)
Purchase of real estate-related equity securities	(175,000)	(73,271)	(454,275)
Proceeds from paydown of principal and settlement of investments in real estate debt	50,252	126,729	178,696
Net cash used in investing activities	(13,904,655)	(2,944,426)	(1,890,434)
Cash flows from financing activities
Proceeds from issuance of common stock, net	5,643,318	853,205	761,712
Offering costs paid	(41,682)	(14,768)	(7,434)
Subscriptions received in advance	496,845	113,532	109,718
Repurchase of common stock	(64,550)	(43,711)	(206)
Borrowings from mortgage notes and revolving credit facility	8,750,402	2,053,047	996,065
Repayments of mortgage notes and revolving credit facility	(473,025)	(2,385)	(72,906)
(Repayments) borrowings under secured financings on investments in real estate, short term net	(42,557)	(38,478)	81,035
Borrowings under secured financings on investments in real estate	274,028	115,796
Repayments under secured financings on investments in real estate	(65,697)	(50,099)
Payment of deferred financing costs	(70,776)	(13,779)	(8,052)
Contributions from non-controlling interests	30,879	60,192	12,520
Repurchase of non-controlling interests		(58,837)
Distributions to non-controlling interests	(1,133)	(1,860)	(384)
Distributions	(117,380)	(35,823)	(8,699)
Net cash provided by financing activities	14,318,672	2,936,032	1,863,369
Net change in cash and cash equivalents and restricted cash	647,144	104,450	24,040
Cash and cash equivalents and restricted cash, beginning of year	293,411	188,961	164,921
Cash and cash equivalents and restricted cash, end of year	940,555	293,411	188,961
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	274,756	128,650	48,479
Restricted cash	665,799	164,761	140,482
Cash and cash equivalents and restricted cash, end of year	940,555	293,411	188,961
Supplemental disclosure of cash flow information:
Cash paid for interest	122,275	68,904	20,693
Non-cash investing and financing activities:
Assumption of mortgage notes in conjunction with acquisitions in real estate	156,515		328,664
Accrued stockholder servicing fee due to affiliate	236,971	36,260	35,640
Accrued offering costs due to affiliates			1,468
Right of use asset/liability	6,146	6,408
Redeemable non-controlling interest issued as settlement for performance participation allocation	15,061	10,366
Accrued distributions	32,696	8,682	4,216
Distribution reinvestment	91,192	41,551	$ 11,227
Allocation to redeemable non-controlling interest	$ 8,250	$ 1,282

Organization and Business Purpo

Organization and Business Purpose	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Purpose	1. Organization and Business Purpose Starwood Real Estate Income Trust, Inc. (the “Company”) was formed on June 22, 2017 as a Maryland corporation and has elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with the taxable year ended December 31, 2019. The Company was organized to invest primarily in stabilized, income-oriented commercial real estate and debt secured by commercial real estate. The Company’s portfolio is principally comprised of properties located in the United States. The Company may diversify its portfolio on a global basis through the acquisition of properties outside of the United States, with a focus on Europe. To a lesser extent, the Company invests in debt secured by commercial real estate and real estate-related securities. The Company is the sole general partner of Starwood REIT Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”). Starwood REIT Special Limited Partner, L.L.C. (the “Special Limited Partner”), a wholly owned subsidiary of Starwood Capital Group Holdings, L.P. (the “Sponsor”), owns a special limited partner interest in the Operating Partnership. Substantially all of the Company’s business is conducted through the Operating Partnership. The Company and the Operating Partnership are externally managed by Starwood REIT Advisors, L.L.C. (the “Advisor”), an affiliate of the Sponsor. As of December 31, 2021, the Company owned 388 real estate properties, 2,595 single-family rental homes, one investment in an unconsolidated real estate venture On December 27, 2017, the Company commenced its initial public offering of up to $5.0 billion in shares of common stock (the “Initial Public Offering”). On June 2, 2021, the Initial Public Offering terminated and the Company commenced a follow-on public offering of up to $10.0 billion in shares of common stock, consisting of up to $8.0 billion in shares in its primary offering and up to $2.0 billion in shares pursuant to its distribution reinvestment plan (the “Follow-on Public Offering”). The Company reallocated $1,700,000,000 in shares from its distribution reinvestment plan to its primary offering, and as a result, are now offering up to $9,700,000,000 in shares in its primary offering and up to $300,000,000 in shares pursuant to their distribution reinvestment plan. On February 8, 2022, the Company filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (the “SEC”) for its second follow-on public offering, which the Company anticipates will become effective in 2022. As of December 31, 2021, the Company had received aggregate net proceeds of $7.6 billion from the sale of shares of the Company’s common stock through the Company’s public offerings.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out a financial statement line item in the Company’s Consolidated Statements of Cash Flows. On the Consolidated Statements of Cash Flows, “Straight-line rent amortization” has been reclassified from “Change in assets and liabilities - increase in other assets” for the year ended December 31, 2021. Such reclassification had no effect on the previously reported totals or subtotals included in the Consolidated Statements of Cash Flows. The accompanying consolidated financial statements include the accounts of the Company, the Company’s subsidiaries and joint ventures in which the Company has a controlling interest. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities and operations of the joint ventures is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. The Operating Partnership is considered to be a VIE. The Company consolidates the Operating Partnership because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. Where the Company does not have the power to direct the activities of the VIE that most significantly impact its economic performance, the Company’s interest for those partially owned entities are accounted for using the equity method of accounting. The Company meets the VIE disclosure exemption criteria, as the Company’s interest in the Operating Partnership is considered a majority voting interest. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk exposure. Restricted Cash Restricted cash primarily consists Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired is not a business, the Company accounts for the transaction as an asset acquisition. All property acquisitions to date have been accounted for as asset acquisitions. Upon the acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends and market and economic conditions. The Company capitalizes acquisition-related costs associated with asset acquisitions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building and land improvements 5 - 30 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles and leasehold improvements Shorter of useful life or lease term Repairs and maintenance are expensed to operations as incurred and are included in Rental property operating and Hospitality operating expenses on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be received pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. Other intangible assets acquired include amounts for in-place lease values that are based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental revenue on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The amortization of in-place leases is recorded as an adjustment to Depreciation and amortization expense on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Certain of the Company’s investments in real estate are subject to a ground lease, for which a lease liability and corresponding right-of-use (“ROU”) asset were recognized. The Company calculates the amount of the lease liability and ROU asset by taking the present value of the remaining lease payments, and adjusting the ROU asset for any existing straight-line ground rent liability and acquired ground lease intangibles. The Company’s estimated incremental borrowing rate of a loan with a similar term as the ground lease was used as the discount rate. The lease liability is included as a component of Other liabilities and the related ROU asset is recorded as a component of Investments in real estate, net on the Company’s Consolidated Balance Sheets. The amortization of the above-market and below-market ground leases are recorded as an adjustment to Depreciation and amortization expense on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company’s management reviews its real estate properties for impairment when there is an event or change in circumstances that indicates an impaired value. Since cash flows on real estate properties considered to be “long-lived assets to be held and used” are considered on an undiscounted basis to determine whether an asset has been impaired, the Company’s strategy of holding properties over the long term decreases the likelihood of recording an impairment loss. If the Company’s strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material to the Company’s results. If the Company determines that an impairment has occurred, the affected assets must be reduced to their fair value. During the periods presented, no such impairment occurred. Investments in Unconsolidated Real Estate Ventures Investments in unconsolidated joint ventures are initially recorded at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, the net equity investment of the Company is reflected within the Consolidated Balance Sheets, and the Company’s share of net income or loss from the joint ventures is included within the Company’s Consolidated Statements of Operations and Comprehensive Loss. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, the Company’s recognition of joint venture income or loss generally follows the joint venture’s distribution priorities, which may change upon the achievement of certain investment return thresholds. The Company’s investments in unconsolidated joint ventures are reviewed for impairment periodically and the Company records impairment charges when events or circumstances change indicating that a decline in the fair values below the carrying values has occurred and such decline is other-than-temporary. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. During the periods presented, no such impairment occurred. Investments in Real Estate Debt The Company’s investments in real estate debt consists of loans secured by real estate and real estate-related securities. The Company has elected to classify its real estate-related securities as trading securities and record such investments at fair value. As such, the resulting unrealized gains and losses of such securities are recorded as a component of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company elected the fair value option (“FVO”) for its loan secured by real estate. As such, the resulting unrealized gains and losses of such loan is recorded as a component of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Interest income from the Company’s investments in real estate-related debt securities is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. Upfront costs and fees related to items for which the FVO is elected shall be recognized in earnings as incurred and not deferred. Such items are recorded as components of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Derivative Instruments The Company uses derivative financial instruments such as foreign currency swaps, interest rate swaps and interest rate caps to manage risks from fluctuations in exchange rates and interest rates. The Company records its derivatives on its Consolidated Balance Sheets at fair value and such amounts are included in Other assets or Other liabilities. Any changes in the fair value of these derivatives are recorded in earnings. Foreign Currency The Company’s functional currency is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the reporting period. Income statement accounts are translated at average rates for the reporting period. Gains and losses from translation of foreign denominated transactions into U.S. dollars are included in current results of operations. Gains and losses resulting from foreign currency transactions are also included in current results of operations. The effects of translating the assets, liabilities and income of our foreign investments held by entities with functional currencies other than the U.S. dollar are included in OCI. Aggregate foreign currency translation and transaction gains or (losses) included in operations totaled Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchical framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the market place, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Valuation of assets and liabilities measured at fair value The Company’s investments in real estate debt are reported at fair value. The Company’s investments in real estate debt include commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”). The Company generally determines the fair value of its investments by utilizing third-party pricing service providers. In determining the value of a particular investment, the pricing service providers may use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models to determine the reported price. The pricing service providers’ internal models for real estate-related securities usually consider the attributes applicable to a particular class of security (e.g., credit rating, seniority), current market data, and estimated cash flows for each class and incorporate deal collateral performance such as prepayment speeds and default rates, as available. Certain of the Company’s investments in real estate debt include loans secured by real estate, such as its term loan, which may not have readily available market quotations. In such cases, the Company will generally determine the initial value based on the origination amount or acquisition price of such investment if acquired by the Company or the par value of such investment if originated by the Company. Following the initial measurement, the Company will determine fair value by utilizing or reviewing certain of the following inputs (i) market yield data, (ii) discounted cash flow modeling, (iii) collateral asset performance, (iv) local or macro real estate performance, (v) capital market conditions, (vi) debt yield or loan-to-value ratios and (vii) borrower financial condition and performance. The Company’s investments in equity securities of public real estate-related companies are reported at fair value and were recorded as a component of Other assets on the Company’s Consolidated Balance Sheets. As such, the resulting unrealized gains and losses are recorded as a component of Other income (expense) on the Company’s Consolidated Statements of Operations and Comprehensive Loss. During the year ended December 31, 2021, the Company recognized $2.8 million of unrealized losses on its investments in equity securities. In determining the fair value of public equity securities, the Company utilizes the closing price of such securities in the principal market in which the security trades. The Company’s derivative financial instruments are reported at fair value flow analysis based on the terms of the contract and the forward interest rate curve adjusted for the Company’s nonperformance risk. The Company’s interest rate cap positions are valued using models developed by the respective counterparty as well as third party pricing service providers that use as their basis readily observable market parameters (such as forward yield curves and credit default swap data). As of December 31, 2021 , the Company held interest rate caps with an aggregate notional value of $ billion, two interest rate caps with an aggregate notional value of € 88.0 million, one interest rate cap with an aggregate notional value of kr 301.5 million associated with its Danish investment and two interest rate swaps with an aggregate notional value of $ million. The resulting unrealized gains and losses associated with the Company’s interest rate swaps and interest rate caps are recorded as a component of interest expense in the Company’s Consolidated Statements of Operations and Comprehensive Loss. During the year ended December 31, 2021, the Company recognized $ 22.8 million of net unrealized gains on its interest rate derivatives. The fair values of the Company’s foreign currency swaps are determined by comparing the contracted forward exchange rate to the current market exchange rate. The current market exchange rates are determined by using market spot rates, forward rates and interest rate curves for the underlying instruments. As of December 31, 2021, the Company held two GBP, five EUR and six DKK foreign currency swaps, with an aggregate notional value of £166 million, €232 million and kr290 million, respectively. The fair values of the Company’s financial instruments (other than investments in real estate debt, mortgage notes, revolving credit facility and derivative instruments), including cash, cash equivalents and restricted cash and other financial instruments, approximate their carrying or contract value. Investment in real estate debt is measured using transacted value, which is the par value, adjusted for foreign exchange effect. The following table details the Company’s assets and liabilities measured at fair value on a recurring basis ($ in thousands): December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investments in real estate debt $ — $ 466,475 $ 487,602 $ 954,077 $ — $ 218,225 $ — $ 218,225 Equity securities 172,236 — — 172,236 — — — — Derivatives — 194,053 — 194,053 — 1,410 — 1,410 Total $ 172,236 $ 660,528 $ 487,602 $ 1,320,366 $ — $ 219,635 $ — $ 219,635 Liabilities: Derivatives $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167 Total $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167 The following table details the Company’s assets measured at fair value on a recurring basis using Level 3 inputs ($ in thousands): Investments in Real Estate Debt Balance as of December 31, 2020 $ — Purchases 504,540 Included in net loss Foreign exchange (16,938 ) Unrealized gain (loss) — Balance as of December 31, 2021 $ 487,602 The following table contains the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy ($ in thousands): December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Weighted Average Impact to Valuation from an Increase in Input Investments in Real Estate Debt $ 487,602 Transacted value Cost N/A N/A Valuation of liabilities not measured at fair value the fair value of the Company’s mortgage notes, revolving credit facility , unsecured line of credit and secured financings on investments in real estate debt was approximately $ million below the outstanding principal balance. Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments as interest expense. Deferred financing costs related to the Company’s revolving credit facility and its unsecured Line of Credit (as defined below) are recorded as a component of Other assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreement. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage commissions, are recorded as a component of Other assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease. Revenue Recognition The Company commences revenue recognition on its leases based on a number of factors, including the initial determination that the contract is or contains a lease. Generally, all of the Company’s contracts are, or contain leases, and therefore revenue is recognized when the lessee takes possession of or controls the physical use of the leased assets. In most instances this occurs on the lease commencement date. At the inception or acquisition of a lease, including new leases that arise from amendments, the Company assesses the terms and conditions of the lease to determine the proper lease classification. The Company adopted the provisions of Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) and related ASUs subsequently issued (collectively, “ASC 842”) as of January 1, 2019. A lease is classified as an operating lease if none of the following criteria are met: (i) ownership transfers to the lessee at the end of the lease term, (ii) the lessee has a purchase option that is reasonably expected to be exercised, (iii) the lease term is for a major part of the economic life of the leased property, (iv) the present value of the future lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the leased property, and (v) the leased property is of such a specialized nature that it is expected to have no future alternative use to the Company at the end of the lease term. If one or more of these criteria are met, the lease will generally be classified as a sales-type lease, unless the lease contains a residual value guarantee from a third party other than the lessee, in which case it would be classified as a direct financing lease under certain circumstances in accordance with ASC 842. The Company’s rental revenue primarily consists of fixed contractual base rent arising from tenant leases at the Company’s properties under operating leases. Revenue under operating leases that are deemed probable of collection, is recognized as revenue on a straight-line basis over the non-cancelable terms of the related leases. For leases that have fixed and measurable rent escalations, the difference between such rental income earned and the cash rent due under the provisions of the lease is recorded in the Company’s Consolidated Balance Sheets. The Company’s Hospitality revenue consists of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered. For leases that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. Certain of the Company’s contracts contain nonlease components (e.g., charges for management fees, common area maintenance, and reimbursement of third-party maintenance expenses) in addition to lease components (i.e., monthly rental charges). Services related to nonlease components are provided over the same period of time as, and billed in the same manner as, monthly rental charges. The Company elected to apply the practical expedient available under ASC 842, for all classes of assets, not to segregate the lease components from the nonlease components when accounting for operating leases. Since the lease component is the predominant component under each of these leases, combined revenues from both the lease and nonlease components are accounted for in accordance with ASC 842 and reported as Rental revenues in the Company’s Consolidated Statements of Operations and Comprehensive Loss. In connection with its investments, the Company has utilized loan programs designed to encourage housing development. The proceeds from these loans are governed by restrictive covenants. For certain housing development loans, so long as the Company remains in compliance with the covenants and program requirements, the loans will be forgiven in equal annual installments until the loans are discharged in full. The Company treats these loans as deferred income and records them as a component of Other liabilities on the Company’s Consolidated Balance Sheets. As of December 31, 2021 and 2020, deferred income related to these loans amounted to $5.0 million and $5.8 million, respectively. As the loan balances are reduced during the compliance period, the Company will record income associated with the discharge of the loans as a component of Other revenue on the Company’s Consolidated Statements of Operations and Comprehensive Loss. For the year ended December 31, 2021 and 2020, Other revenue related to these loans amounted to $0.8 million and $0.8 million, respectively. Other revenues and interest income are recorded on an accrual basis. Organization and Offering Expenses Organization costs are expensed as incurred and recorded as a component of General and administrative expenses on the Company’s Consolidated Statements of Operations and Comprehensive Loss and offering costs are charged to equity as such amounts are incurred. The Advisor advanced $7.3 million of organization and offering expenses on behalf of the Company (including legal, accounting, and other expenses attributable to the organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 21, 2019, the first anniversary of the date on which the proceeds from escrow were released. The Company reimburses the Advisor for all such advanced expenses ratably over a 60 month Starwood Capital, L.L.C. (the “Dealer Manager”), a registered broker-dealer affiliated with the Advisor, serves as the dealer manager for the Offering. The Dealer Manager is entitled to receive selling commissions and dealer manager fees based on the transaction price of each applicable class of shares sold in the primary offering. The Dealer Manager is also entitled to receive a stockholder servicing fee based on the aggregate net asset value (“NAV”) of the Company’s outstanding Class T shares, Class S shares and Class D shares. The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2021: Common Stock Class T Common Stock Class S Common Stock Class D Common Stock Class I Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% — For Class T shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction The Dealer Manager is entitled to receive stockholder servicing fees of 0.85% per annum of the aggregate NAV for Class S shares and Class T shares. For Class T shares such stockholder servicing fee includes, an advisor stockholder servicing fee of 0.65% per annum, and a dealer stockholder servicing fee of 0.20% per annum, of the aggregate NAV for the Class T shares, however, with respect to Class T shares sold through certain participating broker-dealers, the advisor stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. For Class D shares the Dealer Manager is entitled to a stockholder servicing fee equal to 0.25% per annum of the aggregate NAV for the Class D shares. There is no stockholder servicing fee with respect to Class I shares. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fees received and all or a portion of the stockholder servicing fees to such selected dealers. The Company will cease paying the stockholder servicing fee with respect to any Class T share, Class S share or Class D share sold in the primary offering at the end of the month in which the total selling commissions, dealer manager fees and stockholder servicing fees paid with respect to the shares held by such stockholder within such account would exceed 8.75% (or, in the case of Class T shares sold through certain participating broker-dealers, a lower limit as set forth in any applicable agreement between the Dealer Manager and a participating broker-dealer) of the gross proceeds from the sale of such share (including the gross proceeds of any shares issued under the Company’s distribution reinvestment plan with respect thereto). The Company will accrue the full cost of the stockholder servicing fee as an offering cost at the time each Class T, Class S and Class D share is sold during the primary offering. As of December 31, 2021 and 2020, the Company had accrued $291.5 million and $73.2 million, respectively, of stockholder servicing fees related to shares sold and recorded such amount as a component of Due to affiliates on the Company’s Consolidated Bal

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Investments	3. Investments Investments in Real Estate Investments in real estate, net consisted of the following ($ in thousands): December 31, 2021 December 31, 2020 Building and building improvements $ 14,450,074 $ 3,860,297 Land and land improvements 2,733,505 689,107 Furniture, fixtures and equipment 264,557 76,808 Right of use asset - operating lease (1) 105,236 101,382 Total 17,553,372 4,727,594 Accumulated depreciation and amortization (368,293 ) (130,540 ) Investments in real estate, net $ 17,185,079 $ 4,597,054 (1) Refer to Note 13 for additional details on the Company’s leases. During the year ended December 31, 2021, the Company acquired interests in 244 properties, which were comprised of 151 multifamily properties, 60 industrial properties, 25 self-storage properties, five office buildings and three other properties. Additionally, the Company acquired 2,595 single-family rental units. During the year ended December 31, 2020, the Company acquired interests in 73 properties, which were comprised of 60 multifamily properties, 10 industrial properties, two office buildings, The following table provides details of the properties acquired during the year ended December 31, 2021 ($ in thousands): Segments Number of Transactions Number of Properties Sq. Ft. (in millions)/Units Purchase Price (1) Multifamily properties 15 151 37,779 units $ 9,342,279 Single-Family Rental properties 2 N/A (2) 2,595 units 1,128,276 Industrial properties 5 60 10.38 sq. ft. 1,560,968 Office properties 2 5 0.70 sq. ft. 370,846 Self-Storage properties 1 25 13,554 units 322,228 Other properties 3 3 0.75 sq. ft. 315,368 28 244 $ 13,039,965 (1) Purchase price is inclusive of acquisition-related costs. (2) Includes a 100% interest in 2,303 single-family rental units and a 95% interest in 292 consolidated single-family rental units. The following table provides details of the properties acquired during the year ended December 31, 2020 ($ in thousands): Segments Number of Transactions Number of Properties Sq. Ft. (in millions)/Units Purchase Price (1) Multifamily properties 7 60 10,785 units $ 1,710,631 Industrial properties 2 10 1.73 sq. ft. 229,606 Office properties 2 2 1.27 sq. ft. 878,456 Medical Office properties 1 1 0.29 sq. ft. 162,212 12 73 $ 2,980,905 (1) Purchase price is inclusive of acquisition-related costs. The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2021 ($ in thousands): Amount Building and building improvements $ 10,463,106 Land and land improvements 2,039,052 Furniture, fixtures and equipment 186,882 In-place lease intangibles 256,466 Above-market lease intangibles 15,007 Below-market lease intangibles (28,898 ) Above-market ground lease intangibles (2,292 ) Other intangibles 12,376 Total purchase price (1) $ 12,941,699 Assumed mortgage notes (156,515 ) Non-controlling interest (28,158 ) Net purchase price $ 12,757,026 (1) Purchase price does not include acquisition-related costs of $98.3 million. The weighted-average amortization periods for the acquired in-place lease intangibles, above-market lease intangibles, below-market lease intangibles and above-market ground lease for the properties acquired during the year ended December 31, 2021 were four years, eight years, nine years and 32 years, respectively. The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2020 ($ in thousands): Amount Building and building improvements $ 2,391,061 Land and land improvements 342,256 Furniture, fixtures and equipment 28,030 Below-market ground lease (1) 95,201 In-place lease intangibles 114,399 Above-market lease intangibles 16,689 Below-market lease intangibles (29,197 ) Total purchase price (2) $ 2,958,439 Non-controlling interest (1,178 ) Net purchase price $ 2,957,261 (1) The below-market ground lease value was recorded as a component of the Right of use asset – operating leases on the Company’s Consolidated Balance Sheet. (2) Purchase price does not include acquisition related costs of $22.5 million. The weighted-average amortization periods for the acquired in-place lease intangibles, above-market lease intangibles, below-market lease intangibles and below-market ground lease for the properties acquired during the year ended December 31, 2020 were six years, seven years, eight years and 47 years, respectively. Investments in unconsolidated real estate ventures On March 13, 2019, the Company entered into a joint venture (the “Joint Venture”) to acquire a Fort Lauderdale hotel. The Company owns a 43% interest in the Joint Venture. The Joint Venture is accounted for using the equity method of accounting and is included in Investments in unconsolidated real estate ventures in the Company’s Consolidated Balance Sheets. The Company’s investment in the Joint Venture totaled $10.4 million and $11.0 million as of December 31, 2021 and 2020, respectively. The Company’s income from its investment in the Joint Venture is presented in (Loss) income from unconsolidated real estate ventures on the Company’s Consolidated Statements of Operations and totaled ($0.6) million and ($1.5) million for the years ended December 31, 2021 and 2020, respectively.

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangibles	4. Intangibles The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2021 December 31, 2020 Intangible assets: (1) In-place lease intangibles $ 448,447 $ 194,003 Above-market lease intangibles 36,696 22,132 Other 43,653 31,019 Total intangible assets 528,796 247,154 Accumulated amortization: In-place lease amortization (144,663 ) (60,142 ) Above-market lease amortization (7,718 ) (3,506 ) Other (7,300 ) (3,650 ) Total accumulated amortization (159,681 ) (67,298 ) Intangible assets, net $ 369,115 $ 179,856 Intangible liabilities: (2) Below-market lease intangibles $ 65,143 $ 36,190 Total intangible liabilities 65,143 36,190 Accumulated amortization: Below-market lease amortization (9,523 ) (3,534 ) Total accumulated amortization (9,523 ) (3,534 ) Intangible liabilities, net $ 55,620 $ 32,656 (1) (2) The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2021 is as follows ($ in thousands): In-place Lease Intangibles Above-market Lease Intangibles Other Below-market Lease Intangibles 2022 $ 130,518 $ 5,496 $ 5,698 $ (8,445 ) 2023 42,503 4,996 5,613 (7,873 ) 2024 29,420 3,832 5,599 (6,180 ) 2025 22,511 3,191 5,192 (4,816 ) 2026 15,405 2,661 2,507 (4,645 ) Thereafter 63,427 8,802 11,744 (23,661 ) $ 303,784 $ 28,978 $ 36,353 $ (55,620 )

Investments in Real Estate Debt

Investments in Real Estate Debt	12 Months Ended
	Dec. 31, 2021
Schedule Of Investments [Abstract]
Investments in Real Estate Debt	5. Investments in Real Estate Debt The following tables detail the Company’s investments in real estate debt as of December 31, 2021 and 2020 ($ in thousands): December 31, 2021 Type of Security/Loan Number of Positions Weighted Average Coupon Weighted Average Maturity Date (1) Cost Basis Fair Value RMBS 50 3.07% July 9, 2045 $ 165,600 $ 168,309 CMBS - floating 4 L + 3.46% July 15, 2038 296,928 295,465 CMBS - fixed 1 6.26% July 25, 2039 2,522 2,701 Total real estate debt securities 55 3.34% January 5, 2041 465,050 466,475 Term loan (2) 1 L + 5.35% February 26, 2026 504,540 487,602 Total investments in real estate debt 56 4.41% April 8, 2033 $ 969,590 $ 954,077 December 31, 2020 Type of Security Number of Positions Weighted Average Coupon Weighted Average Maturity Date (1) Cost Basis Fair Value RMBS 55 3.22% March 22, 2047 $ 213,863 $ 215,358 CMBS 1 6.26% July 25, 2039 3,066 2,867 Total investments in real estate debt 56 $ 216,929 $ 218,225 (1) Weighted average maturity date is based on the fully extended maturity date of the underlying collateral. (2) On February 26, 2021, the Company provided financing in the form of a term loan to an unaffiliated entity in connection with its acquisition of a premier United Kingdom holiday company. The loan is in the amount of £360 million and has an initial term of five years, with a two-year extension option. The majority of the Company’s investments in real estate debt securities consist of non-agency RMBS and CMBS. The Company’s investments in real estate debt include CBMS collateralized by properties owned by Starwood-advised investment vehicles. The following table details the Company’s affiliate investments in real estate debt ($ in thousands): Fair Value December 31, 2021 December 31, 2020 CMBS $ 295,465 $ — Total $ 295,465 $ — Such CMBS were purchased in fully or over-subscribed offerings. Each investment in such CMBS by the Company represented a minority participation in any individual tranche. The Company acquired its minority participation interest from third-party investment banks on market terms negotiated by the majority third-party investors. During the year ended December 31, 2021, the Company recorded net unrealized gains on its investments in real estate debt of $1.7 million. During the year ended December 31, 2020 the Company recorded net unrealized losses and realized losses on its real estate-related securities portfolio of $0.2 million and $5.8 million, respectively. Such amounts are recorded as a component of Income from real estate debt on the Company’s Consolidated Statements of Operations.

Mortgage Notes and Revolving Cr

Mortgage Notes and Revolving Credit Facility	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Mortgage Notes and Revolving Credit Facility	6. Mortgage Notes and Revolving Credit Facility The following table is a summary of the mortgage notes and revolving credit facility secured by the Company’s properties as of December 31, 2021 and 2020 ($ in thousands): Principal Balance Outstanding (4) Indebtedness Weighted Average Interest Rate (1) (2) Weighted Average Maturity Date (3) Maximum Facility Size December 31, 2021 December 31, 2020 Fixed rate loans Fixed rate mortgages 2.99% 9/19/2030 N/A $ 3,110,689 $ 2,236,290 Total fixed rate loans 3,110,689 2,236,290 Variable rate loans Floating rate mortgages L + 1.76% 2/23/2024 N/A 7,052,819 886,594 Variable rate revolving credit facility (5) S + 1.85% 12/1/2023 $ 1,200,000 1,190,683 172,800 Total variable rate loans 8,243,502 1,059,394 Total loans secured by the Company's properties 11,354,191 3,295,684 Deferred financing costs, net (80,410 ) (17,208 ) Premium on assumed debt, net 630 286 Mortgage notes and revolving credit facility, net $ 11,274,411 $ 3,278,762 (1) ( 2 ) ( 3 ) For loans where the Company, at its own discretion, has extension options, the maximum maturity date has been assumed. ( 4 ) T he majority of the Company’s mortgages contain yield or spread maintenance provisions. ( 5 ) The Company’s revolving credit facility can be drawn upon to fund the acquisition of future real estate investments. During December 2021, the Company extended this facility to December 1, 2023. The repayment of the revolving credit facility is guaranteed by the Operating Partnership. The following table presents the future principal payments under the Company’s mortgage notes and revolving credit facility as of December 31, 2021 ($ in thousands): Year Amount 2022 $ 711,321 2023 6,018,446 2024 529,254 2025 718,822 2026 212,048 Thereafter 3,164,300 Total $ 11,354,191 Pursuant to lender agreements for certain of the Company’s mortgages, the Company has the ability to draw $87.2 million for leasing commissions, tenant and building improvements. The Company’s mortgage notes and revolving credit facility may contain customary events of default and covenants, including limitations on liens and indebtedness and maintenance of certain financial ratios. The Company is not aware of any instance of noncompliance with financial covenants as of December 31, 2021.

Secured Financings On Investmen

Secured Financings On Investments In Real Estate Debt	12 Months Ended
	Dec. 31, 2021
Secured Financings On Investments In Real Estate Debt [Abstract]
Secured Financings on Investments in Real Estate Debt	7. Secured financings on investments in real estate debt are treated as collateralized financing transactions and are carried at their contractual amounts, including accrued interest, as specified in the respective agreements. Although structured as a sale and repurchase obligation, a secured financing on investments in real estate debt operates as a financing under which securities are pledged as collateral to secure a short-term loan equal in value to a specified percentage of the market value of the pledged collateral. While used as collateral, the Company retains beneficial ownership of the pledged collateral, including the right to distributions. At the maturity of a secured financing on investments in real estate debt, the Company is required to repay the loan and concurrently receive the pledged collateral from the lender or, with the consent of the lender, renew such agreement at the then-prevailing financing rate. Interest rates on these borrowings are determined based on prevailing rates corresponding to the terms of the borrowings, and interest is paid at the termination of the borrowing at which time the Company may enter into a new borrowing arrangement at prevailing market rates with the same counterparty or repay that counterparty and negotiate financing with a different counterparty. The fair value of financial instruments pledged as collateral on the Company’s secured financings on investments in real estate debt disclosed in the tables below represents the Company’s fair value of such instruments, which may differ from the fair value assigned to the collateral by its counterparties. During February 2021, the Company entered into a repurchase agreement with Barclays Bank PLC in order to finance its term loan investment (the “Barclays RA”). The Barclays RA interest rate is equal to the three-month U.S. dollar-denominated LIBOR plus a spread. For financial statement purposes, the Company does not offset its secured financings on investments in real estate debt and securities lending transactions because the conditions for netting as specified by GAAP are not met. Although not offset on the Company’s Consolidated Balance Sheets, these transactions are summarized in the following tables ($ in thousands): December 31, 2021 Indebtedness Maturity Date Coupon Collateral Assets (1) Outstanding Balance Barclays RA 2/26/2026 L + 2.50% $ 487,602 $ 268,181 $ 487,602 $ 268,181 December 31, 2020 Indebtedness Weighted Average Maturity Date Weighted Average Coupon Collateral Assets (1) Outstanding Balance RMBS 3/17/2021 1.93% $ 155,538 $ 105,804 CMBS 1/6/2021 2.10% 2,867 2,450 $ 158,405 $ 108,254 ( 1)

Unsecured Line of Credit

Unsecured Line of Credit	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Unsecured Line of Credit	8. Unsecured On December 16, 2020, the Company entered into an unsecured line of credit (the “Line of Credit”) for $100 million with multiple banks.

Other Assets and Other Liabilit

Other Assets and Other Liabilities	12 Months Ended
	Dec. 31, 2021
Other Assets And Other Liabilities [Abstract]
Other Assets and Other Liabilities	9. Other Assets and Other Liabilities The following table summarizes the components of Other assets ($ in thousands): December 31, 2021 December 31, 2020 Intangible assets, net $ 369,115 $ 179,856 Derivative instruments 194,053 1,410 Equity securities 172,236 — Receivables 103,049 23,692 Prepaid expenses 15,871 4,047 Acquisition deposits 13,422 7 Deferred financing costs, net 6,723 1,268 Interest receivable 5,337 548 Other 1,492 307 Total $ 881,298 $ 211,135 The following table summarizes the components of Other liabilities ($ in thousands): December 31, 2021 December 31, 2020 Accounts payable and accrued expenses $ 89,625 $ 19,651 Intangible liabilities, net 55,620 32,656 Real estate taxes payable 53,423 14,842 Tenant security deposits 36,509 9,842 Distributions payable 32,696 8,682 Accrued interest expense 16,399 7,309 Right of use liability - operating leases 12,499 6,390 Deferred tax liability 8,599 1,229 Deferred income 7,467 11,111 Derivative instruments 1,398 5,167 Other 25,271 193 Total $ 339,506 $ 117,072

Equity and Redeemable Non-contr

Equity and Redeemable Non-controlling Interest	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Equity and Redeemable Non-controlling Interest	10 . Equity and Redeemable Non-controlling Interest Authorized Capital The Company is authorized to issue preferred stock and four classes of common stock consisting of Class T shares, Class S shares, Class D shares, and Class I shares. The Company’s board of directors has the ability to establish the preferences and rights of each class or series of preferred stock, without stockholder approval, and as such, it may afford the holders of any series or class of preferred stock preferences, powers and rights senior to the rights of holders of common stock. The differences among the common share classes relate to upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees. See Note 2 for a further description of such items. Other than the differences in upfront selling commissions, dealer manager fees and ongoing stockholder servicing fees, each class of common stock is subject to the same economic and voting rights. Charter Amendment On May 10, 2021, the Company amended its charter to increase the number of shares of stock that the Company has authority to issue to 3,100,000,000 shares, consisting of 3,000,000,000 shares of common stock, $0.01 par value per share, 500,000,000 of which are classified as Class T common stock, 1,000,000,000 of which are classified as Class S common stock, 500,000,000 of which are classified as Class D common stock and 1,000,000,000 of which are classified as Class I common stock, and 100,000,000 shares of preferred stock, $0.01 par value per share. Prior to the amendment, the Company had authority to issue 1,100,000,000 shares, consisting of 1,000,000,000 shares of common stock, $0.01 par value per share, 250,000,000 of which were classified as Class T common stock, 250,000,000 of which were classified as Class S common stock, 250,000,000 of which were classified as Class D common stock and 250,000,000 of which were classified as Class I common stock, and 100,000,000 shares of preferred stock, $0.01 par value per share. As of December 31, 2021, the Company had the authority to issue 3,100,000,000 shares of capital stock, consisting of the following: Classification Number of Shares Par Value Preferred Stock 100,000,000 $ 0.01 Class T Shares 500,000,000 $ 0.01 Class S Shares 1,000,000,000 $ 0.01 Class D Shares 500,000,000 $ 0.01 Class I Shares 1,000,000,000 $ 0.01 Total 3,100,000,000 Common Stock The following table details the movement in the Company’s outstanding shares of common stock: Class T Class S Class D Class I Total January 1, 2019 483 6,610,280 46,075 1,542,000 8,198,838 Common stock shares issued 1,401,818 19,176,803 1,584,566 14,448,819 36,612,006 Distribution reinvestment plan shares issued 10,262 383,218 22,453 122,455 538,388 Common stock shares repurchased — (5,507 ) — (4,843 ) (10,350 ) Independent directors' restricted stock grant (1) — — — 5,853 5,853 December 31, 2019 1,412,563 26,164,794 1,653,094 16,114,284 45,344,735 Common stock shares issued 1,137,269 20,138,235 1,190,809 23,197,333 45,663,646 Distribution reinvestment plan shares issued 56,484 1,188,342 87,505 611,538 1,943,869 Common stock shares repurchased (143,134 ) (1,059,710 ) (84,311 ) (774,476 ) (2,061,631 ) Independent directors' restricted stock grant (1) — — — 4,234 4,234 December 31, 2020 2,463,182 46,431,661 2,847,097 39,152,913 90,894,853 Common stock shares issued 2,157,634 107,086,220 19,108,491 124,387,317 252,739,662 Distribution reinvestment plan shares issued 86,892 2,130,886 244,060 1,520,206 3,982,044 Common stock shares repurchased (59,272 ) (1,267,731 ) (57,349 ) (1,450,765 ) (2,835,117 ) Independent directors' restricted stock grant (1) — — — 14,829 14,829 December 31, 2021 4,648,436 154,381,036 22,142,299 163,624,500 344,796,271 __________ (1) The independent directors’ restricted stock grant represents an aggregate $0.3 million, $0.1 million and $0.1 million of the annual compensation paid to the independent directors for the years ended December 31, 2021 and 2020 and 2019, respectively. Each grant is amortized over the one-year Share Repurchases The Company has adopted a share repurchase plan whereby, subject to certain limitations, stockholders may request on a monthly basis that the Company repurchases all or any portion of their shares. Should repurchase requests, in the Company’s judgment, place an undue burden on its liquidity, adversely affect its operations or risk having an adverse impact on the Company as a whole, or should the Company otherwise determine that investing its liquid assets in real properties or other illiquid investments rather than repurchasing its shares is in the best interests of the Company as a whole, then the Company may choose to repurchase fewer shares than have been requested to be repurchased, or none at all. Further, the Company’s board of directors may modify and suspend the Company’s share repurchase plan if it deems such action to be in the Company’s best interest and the best interest of its stockholders. In addition, the total amount of shares that the Company will repurchase is limited, in any calendar month, to shares whose aggregate value (based on the repurchase price per share on the date of the repurchase) is no more than 2% of its aggregate NAV as of the last day of the previous calendar month and, in any calendar quarter, to shares whose aggregate value is no more than 5% of its aggregate NAV as of the last day of the previous calendar quarter. In the event that the Company determines to repurchase some but not all of the shares submitted for repurchase during any month, shares repurchased at the end of the month will be repurchased on a pro rata basis. For the years ended December 31, 2021, 2020 and 2019, the Company repurchased 2,835,117, 2,061,631 and 10,350 shares of common stock representing a total of $64.6 million, $43.7 million and $0.2 million, respectively. The Company had no unfulfilled repurchase requests during the years ended December 31, 2021, 2020 and 2019. Distributions The Company generally intends to distribute substantially all of its taxable income, which does not necessarily equal net income as calculated in accordance with GAAP, to its stockholders each year to comply with the REIT provisions of the Code. Each class of common stock receives the same gross distribution per share. The net distribution varies for each class based on the applicable stockholder servicing fee, which is deducted from the monthly distribution per share and paid directly to the applicable distributor. The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2021 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.2420 $ 1.2420 $ 1.2420 $ 1.2420 Stockholder servicing fee per share of common stock (0.1949 ) (0.1955 ) (0.0571 ) — Net distributions declared per share of common stock $ 1.0471 $ 1.0465 $ 1.1849 $ 1.2420 Year Ended December 31, 2020 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.2420 $ 1.2420 $ 1.2420 $ 1.2420 Stockholder servicing fee per share of common stock (0.1808 ) (0.1821 ) (0.0533 ) — Net distributions declared per share of common stock $ 1.0612 $ 1.0599 $ 1.1887 $ 1.2420 Year Ended December 31, 2019 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.0905 $ 1.0905 $ 1.0905 $ 1.0905 Stockholder servicing fee per share of common stock (0.1608 ) (0.1787 ) (0.0503 ) — Net distributions declared per share of common stock $ 0.9297 $ 0.9118 $ 1.0402 $ 1.0905 Redeemable Non-controlling Interest In connection with its performance participation interest, the Special Limited Partner holds Class I units in the Operating Partnership. See Note 11 for further details of the Special Limited Partner’s performance participation interest. Because the Special Limited Partner has the ability to redeem its Class I units for cash, at its election, the Company has classified these Class I units as Redeemable non-controlling interest in mezzanine equity on the Company’s Consolidated Balance Sheets. The Redeemable non-controlling interest is recorded at the greater of the carrying amount, adjusted for its share of the allocation of income or loss and dividends, or the redemption value, which is equivalent to fair value, of such units at the end of each measurement period. As the redemption value was greater than the adjusted carrying value at December 31, 2021 and 2020, the Company recorded an allocation adjustment of $8.3 and $1.3 million, respectively, between Additional paid-in capital and Redeemable non-controlling interest. The following table summarizes the Redeemable non-controlling interest activity for the year ended December 31, 2021 and 2020 ($ in thousands): December 31, 2021 December 31, 2020 Balance at the beginning of the year $ 10,409 $ — Settlement of performance participation allocation 15,061 10,366 GAAP income allocation (1,758 ) (642 ) Distributions (1,460 ) (597 ) Fair value allocation 8,250 1,282 Ending balance $ 30,502 $ 10,409

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions Acquisition of Investments On March 20, 2020, the Company acquired a 75% interest in 60 State Street, a 911,000-square-foot office building in Boston, Massachusetts through a joint venture, between the Company and the Sponsor. The Sponsor purchased a 25% interest (the “60 State Street Membership Interests”) alongside the Company with the intent of subsequently selling it to an unaffiliated buyer. The Sponsor subsequently exercised its right to put the 60 State Street Membership Interests to the Company. During the second quarter of 2020, the Company acquired the 60 State Street Membership Interests in three transactions at a cost of $59.0 million plus interest equal to one-month LIBOR + 2.40% or $0.3 million. As a result of these transactions, the Company wholly owns 60 State Street. Square foot and per square foot amounts are unaudited. On October 29, 2020, the Company borrowed $22.0 million from the Sponsor to fund an acquisition. The borrowing was repaid on Management Fee and Performance Participation Allocation The Advisor is entitled to an annual management fee equal to 1.25% of the Company’s NAV, payable monthly as compensation for the services it provides to the Company. The management fee can be paid, at the Advisor’s election, in cash, shares of common stock, or Operating Partnership units. The Advisor waived its management fee through March 31, 2019. During the years ended December 31, 2021 and 2020, the Company incurred management fees of $62.2 million and $19.4 million, respectively. To date, the Advisor has elected to receive the management fee in shares of the Company’s common stock. The Company issued 2,232,831 and 210,827 unregistered Class I shares to the Advisor as payment for the 2021 and 2020 management fees, respectively, and also had a payable of $9.6 million and $2.1 million related to the management fees as of December 31, 2021 and 2020, respectively, which are included in Due to affiliates on the Company’s Consolidated Balance Sheets. During January 2022, the Advisor was issued 371,148 unregistered Class I shares as payment for the $9.6 million management fee accrued as of December 31, 2021. During January 2021, the Advisor was issued 97,097 unregistered Class I shares as payment for the $2.1 million management fee accrued as of December 31, 2020. The shares issued to the Advisor for payment of the management fee were issued at the applicable NAV per share at the end of each month for which the fee was earned. During 2021 the Advisor submitted 27,850 Class I shares for repurchase resulting in a total repurchase of $0.6 million. During 2020, the Advisor submitted 8,787 Class I shares for repurchase resulting in a total repurchase of $0.2 million. Additionally, the Special Limited Partner, an affiliate of the Advisor, holds a performance participation interest in the Operating Partnership that entitles it to receive an allocation of the Operating Partnership’s total return to its capital account. Total return is defined as distributions paid or accrued plus the change in NAV. Under the Operating Partnership’s limited partnership agreement, the annual total return will be allocated solely to the Special Limited Partner after the other unit holders have received a total return of 5% (after recouping any loss carryforward amount) and such allocation will continue until the allocation between the Special Limited Partner and all other unit holders is equal to 12.5% and 87.5%, respectively. Thereafter, the Special Limited Partner will receive an allocation of 12.5% of the annual total return. The annual distribution of the performance participation interest will be paid in cash or Class I units of the Operating Partnership, at the election of the Special Limited Partner. During the years ended December 31, 2021 and 2020, the Company recognized $204.2 million and $15.1 million, respectively, of performance participation interest in the Company’s consolidated financial statements. The performance participation interest for 2021 became payable on December 31, 2021 and, in January 2022, the Company caused the Operating Partnership to issue 7,872,930 Class I units in the Operating Partnership to the Special Limited Partner as payment for the performance participation interest for 2021. Such Class I units were issued at the NAV per unit as of December 31, 2021. The performance participation interest for 2020 became payable on December 31, 2020 and, in January 2021, the Company caused the Operating Partnership to issue 695,320 Class I units in the Operating Partnership to the Special Limited Partner as payment for the performance participation interest for 2020. Such Class I units were issued at the NAV per unit as of December 31, 2020. Due to Affiliates The following table details the components of Due to affiliates ($ in thousands): December 31, 2021 December 31, 2020 Accrued stockholder servicing fee $ 291,544 $ 73,170 Performance participation allocation 204,225 15,061 Advanced organization and offering costs 4,373 5,830 Accrued management fee 9,628 2,103 Accrued affiliate service provider expenses 843 — Advanced operating expenses 2,655 207 Total $ 513,268 $ 96,371 Accrued stockholder servicing fee As described in Note 2, the Company accrues the full amount of the future stockholder servicing fees payable to the Dealer Manager for Class T, Class S, and Class D shares up to the 8.75% limit at the time such shares are sold. As of December 31, 2021 and 2020, the Company has accrued $291.5 million and $73.2 million, respectively, of stockholder servicing fees payable to the Dealer Manager related to the Class T shares, Class S shares and Class D shares sold. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fee and all or a portion of the stockholder servicing fees received by the Dealer Manager to such selected dealers. Advanced organization and offering costs The Advisor and its affiliates incurred $7.3 million, of organization and offering costs (excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) on behalf of the Company through December 21, 2019. Such amount is being reimbursed to the Advisor ratably over 60 months, which commenced in January 2020. Advanced operating expenses As of December 31, 2021 and 2020, the Advisor had advanced approximately $0.1 million and $0.1 million, respectively, of expenses on the Company’s behalf for general corporate expenses provided by unaffiliated third parties. Such amounts (incurred prior to 2019) are being reimbursed to the Advisor ratably over a 60 month period, which commenced in January 2020. As of December 31, 2021 and 2020, the Advisor had incurred approximately $6.7 million and $2.7 million, respectively, of expenses on the Company’s behalf for general corporate expenses. Such amounts are being reimbursed to the Advisor one month in arrears. Accrued affiliate service provider expenses The Company has engaged and expects to continue to engage Highmark Residential (formerly Milestone Management), a portfolio company owned by an affiliate of the Sponsor, to provide day-to-day operational and management services (including leasing, construction management, revenue management, accounting, legal and contract management, expense management, and capital expenditure projects and transaction support services) for a portion of the Company’s multifamily properties. The cost for such services is a percentage of the gross receipts and project costs, respectively, (which will be reviewed periodically and adjusted if appropriate), plus actual costs allocated for transaction support services. During the years ended December 31, 2021, 2020 and 2019, the Company has incurred approximately $6.7 million, $2.8 million and $0.7 million, respectively, of expenses due to Highmark Residential services in connection with its investments and such amounts are included in Rental property operating expenses on the Company’s Consolidated Statements of Operations. The Company has engaged Rinaldi, Finkelstein & Franklin L.L.C. (“RFF”), a law firm owned and controlled by Ellis F. Rinaldi, Co-General Counsel and Senior Managing Director of the Sponsor and certain of its affiliates, to provide corporate legal support services to the Company. For the years ended December 31, 2021, 2020 and 2019, the amounts incurred for services provided by RFF were $0.6 million, $0.3 million and $0.2 million, respectively. The Company has engaged Essex Title, LLC (“Essex”), a title agent company majority owned by the Sponsor. Essex acts as an agent for one or more underwriters in issuing title policies and/or providing support services in connection with investments by the Company, Starwood and their affiliates and related parties and third parties. Essex focuses on transactions in rate-regulated states where the cost of title insurance is non-negotiable. Essex will not perform services in non-regulated states for the Company, unless (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii) when a third party is paying all or a material portion of the premium or (iv) when providing only support services to the underwriter. Essex earns fees, which would have otherwise been paid to third parties, by providing title agency services and facilitating placement of title insurance with underwriters. Starwood receives distributions from Essex in connection with investments by the Company based on its equity interest in Essex. In each case, there will be no related offset to the Company. During the year ended December 31, 2021, the Company paid Essex $1.9 million, for title services related to 11 investments and such costs were capitalized to Investments in real estate, net, on the Company’s Consolidated Balance Sheets. During the year ended December 31, 2020, the Company paid Essex $0.2 million, for title services related to two investments and such costs were capitalized to Investments in real estate, net, on the Company’s Consolidated Balance Sheets. The Company did not engage Essex during the year ended December 31, 2019. The Company engaged Starwood Retail Partners to provide leasing and legal services for any retail properties we acquire. During the year ended December 31, 2021, the Company did not incur any expenses from Starwood Retail Partners. The Company has engaged Starwood’s affiliated Luxembourg office for accounting and administrative matters relating to certain European investments. During the year ended December 31, 2021, the amounts incurred for services provided were $0.2 million. The Company did not engage Starwood’s affiliated Luxembourg office for accounting and administrative matters during the years ended December 31, 2020 and 2019. The Company has incurred legal expenses from third party law firms whose lawyers have been seconded to affiliates of Starwood Capital for the purpose of providing legal services in Europe to investment vehicles sponsored by Starwood Capital. During the year ended December 31, 2021, the amounts incurred for services provided were $0.1 million. The Company did not incur legal expenses from third party law firms whose lawyers have been seconded to affiliates of Starwood Capital for the purpose of providing legal services during the years ended December 31, 2020 and 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	1 2 . Commitments and Contingencies As of December 31, 2021 and 2020, the Company is not subject to any material litigation nor is the Company aware of any material litigation threatened against it. As of March 28, 2022 the company had a remaining funding commitment to one of its consolidated joint ventures of approximately $202 million.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	13. Leases Lessee Certain of the Company’s investments in real estate are subject to a ground lease. The Company’s ground leases are classified as operating leases based on the characteristics of the respective lease. The ground leases were acquired as part of the acquisition of real estate and no incremental costs were incurred for such ground leases. The Company’s ground leases are non-cancelable and do not contain any additional renewal options. The following table presents the future lease payments due under the Company’s ground leases as of December 31, 2021 ($ in thousands): Year Operating Lease 2022 $ 686 2023 686 2024 686 2025 712 2026 713 Thereafter 26,497 Total undiscounted future lease payments 29,980 Difference between undiscounted cash flows and discounted cash flows (17,481 ) Total lease liability $ 12,499 The Company utilized its incremental borrowing rate, which was between 4.5% and 6% to determine its lease liabilities. As of December 31, 2021, the weighted average remaining lease term of the Company’s operating leases were 38 years. Payments under the Company’s ground leases contain fixed payment components. The Company’s ground leases contained escalations prior to the Company’s hold period. Lessor The Company’s rental revenue primarily consists of rent earned from operating leases at the Company’s multifamily, single-family rental, industrial, office, self-storage, medical office and other properties. Leases at the Company’s industrial, office, medical office and other properties generally include a fixed base rent and certain leases also contain a variable component. The variable component of the Company’s operating leases at its industrial, office, medical office and other properties primarily consist of the reimbursement of operating expenses such as real estate taxes, insurance, and common area maintenance costs. Leases at the Company’s industrial, office, medical office and other properties are generally longer term and may contain extension and termination options at the lessee’s election. The Company’s rental revenue earned from leases at the Company’s multifamily, single-family rental and self-storage properties primarily consists of a fixed base rent and certain leases contain a variable component that allows for the pass-through of certain operating expenses such as utilities. Leases at the Company’s multifamily, single-family rental and self-storage properties are short term in nature, generally not greater than 12 months in length. The following table summarizes the fixed and variable components of the Company’s operating leases ($ in thousands): For the Year Ended December 31, 2021 2020 2019 Fixed lease payments $ 530,093 $ 238,897 $ 46,908 Variable lease payments 74,481 34,950 4,882 Rental revenue $ 604,574 $ 273,847 $ 51,790 The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, office, medical office and other properties as of December 31, 2021 ($ in thousands). Leases at the Company’s multifamily, single-family and self-storage properties are short term, generally 12 months or less, and are therefore not included. Year Future Minimum Rents 2022 $ 229,976 2023 218,831 2024 195,541 2025 169,574 2026 147,597 Thereafter 525,167 Total $ 1,486,686

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	14. Segment Reporting The Company operates in nine reportable segments: Multifamily properties, Single-Family Rental properties, Hospitality properties, Industrial properties, Office properties, Self-Storage properties, Medical office properties, Other properties and Investments in real estate debt. The Company allocates resources and evaluates results based on the performance of each segment individually. The Company believes that segment net operating income is the key performance metric that captures the unique operating characteristics of each segment. The following table sets forth the total assets by segment ($ in thousands): December 31, 2021 December 31, 2020 Multifamily properties $ 12,225,256 $ 2,738,210 Single-Family Rental properties 1,150,987 — Hospitality properties 240,326 244,065 Industrial properties 2,145,163 551,898 Office properties 1,599,774 1,186,328 Self-Storage properties 331,024 — Medical office properties 191,881 196,559 Other properties 332,507 — Investments in real estate debt 954,077 218,225 Other (Corporate) 800,436 195,531 Total assets $ 19,971,431 $ 5,330,816 The following table sets forth the financial results by segment for the year ended December 31, 2021 ($ in thousands): Multifamily Single- Family Rental Hospitality Industrial Office Self- Storage Medical Office Other Investments in Real Estate Debt Total Revenues: Rental revenue $ 365,052 $ 1,158 $ — $ 96,826 $ 124,317 $ 741 $ 14,656 $ 1,824 $ — $ 604,574 Hospitality revenue — — 33,301 — — — — — — 33,301 Other revenue 4,310 — 348 — 331 — 41 — — 5,030 Total revenues 369,362 1,158 33,649 96,826 124,648 741 14,697 1,824 — 642,905 Expenses: Rental property operating 151,923 274 — 25,258 43,741 287 6,225 241 — 227,949 Hospitality operating — — 20,702 — — — — — — 20,702 Total segment expenses 151,923 274 20,702 25,258 43,741 287 6,225 241 — 248,651 Income from investments in real estate debt — — — — — — — — 45,156 45,156 Loss from unconsolidated real estate ventures — — (615 ) — — — — — — (615 ) Segment net operating income $ 217,439 $ 884 $ 12,332 $ 71,568 $ 80,907 $ 454 $ 8,472 $ 1,583 $ 45,156 $ 438,795 Depreciation and amortization $ (189,084 ) $ (2,311 ) $ (8,543 ) $ (58,002 ) $ (61,953 ) $ (429 ) $ (8,437 ) $ (1,696 ) $ — $ (330,455 ) General and administrative (25,404 ) Management fees (62,237 ) Performance participation allocation (204,225 ) Interest expense (124,091 ) Other income, net 3,174 Net loss $ (304,443 ) Net loss attributable to non-controlling interests in consolidated joint ventures 434 Net loss attributable to non-controlling interests in Operating Partnership 1,758 Net loss attributable to stockholders $ (302,251 ) The following table sets forth the financial results by segment for the year ended December 31, 2020 ($ in thousands): Multifamily Hospitality Industrial Office Medical Office Investments in Real Estate Debt Total Revenues: Rental revenue $ 132,835 $ — $ 30,203 $ 97,078 $ 13,731 $ — $ 273,847 Hospitality revenue — 22,200 — — — — 22,200 Other revenue 2,045 146 — 145 40 — 2,376 Total revenues 134,880 22,346 30,203 97,223 13,771 — 298,423 Expenses: Rental property operating 51,878 — 7,261 32,895 4,908 — 96,942 Hospitality operating — 16,242 — — — — 16,242 Total segment expenses 51,878 16,242 7,261 32,895 4,908 — 113,184 Income from investments in real estate debt — — — — — 7,206 7,206 Loss from unconsolidated real estate ventures — (1,462 ) — — — — (1,462 ) Segment net operating income $ 83,002 $ 4,642 $ 22,942 $ 64,328 $ 8,863 $ 7,206 $ 190,983 Depreciation and amortization $ (73,365 ) $ (8,403 ) $ (18,323 ) $ (48,477 ) $ (7,296 ) $ — $ (155,864 ) General and administrative (8,624 ) Management fees (19,423 ) Performance participation allocation (15,061 ) Interest expense (88,918 ) Other expense, net (1,293 ) Net loss $ (98,200 ) Net loss attributable to non- controlling interests in consolidated joint ventures 1,300 Net loss attributable to non- controlling interests in Operating Partnership 642 Net loss attributable to stockholders $ (96,258 ) The following table sets forth the financial results by segment for the year ended December 31, 2019 ($ in thousands): Multifamily Hotel Industrial Office Medical Office Investments in Real Estate Debt Total Revenues: Rental revenue $ 29,768 $ — $ 2,489 $ 19,022 $ 511 $ — $ 51,790 Hospitality revenue — 40,559 — — — — 40,559 Other revenue 1,669 259 — 31 — — 1,959 Total revenues 31,437 40,818 2,489 19,053 511 — 94,308 Expenses: Rental property operating 11,396 — 583 6,388 96 — 18,463 Hospitality operating — 23,507 — — — — 23,507 Total segment expenses 11,396 23,507 583 6,388 96 — 41,970 Income from investments in real estate debt — — — — — 10,158 10,158 Earnings from unconsolidated real estate ventures — 175 — — — — 175 Segment net operating income $ 20,041 $ 17,486 $ 1,906 $ 12,665 $ 415 $ 10,158 $ 62,671 Depreciation and amortization $ (17,520 ) $ (8,239 ) $ (1,570 ) $ (11,312 ) $ (255 ) $ — $ (38,896 ) General and administrative (4,523 ) Management fees (5,469 ) Performance participation allocation (10,366 ) Interest expense (25,311 ) Other expense net 916 Net loss $ (20,978 ) Net loss attributable to non- controlling interests in consolidated joint ventures 152 Net loss attributable to stockholders $ (20,826 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	1 5 . Subsequent Events Acquisitions / New Investments Subsequent to December 31, 2021, the Company acquired an aggregate of $0.2 billion of investments in real estate across four separate transactions, exclusive of closing costs. The acquisitions were related to single-family rental homes, self-storage and industrial properties. Subsequent to December 31, 2021, the Company purchased an aggregate of $0.2 billion of investments in real estate debt and real estate-related equity securities. Commitments Subsequent to December 31, 2021, the Company has committed approximately $1.0 billion to the financing of an acquisition by a third party. Proceeds from the Issuance of Common Stock Subsequent to December 31, 2021, the Company received net proceeds of approximately $2.0 billion from the issuance of its common stock in its public offerings.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	Schedule III – Real Estate and Accumulated Depreciation as of December 31, 2021 ($ in thousands) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Multifamily properties: Phoenix Property Mesa, AZ $ 32,239 $ 9,472 $ 35,909 $ 155 $ 640 $ 9,627 $ 36,549 $ 46,176 $ (5,106 ) 1997 2019 (1) Savannah Property Savannah, GA 25,412 3,671 31,351 180 174 3,851 31,525 35,376 (3,832 ) 2017 2019 (1) Florida Multifamily Portfolio Lindsey Terrance Jacksonville, FL 20,948 6,828 20,356 198 812 7,026 21,168 28,194 (3,125 ) 2002 2019 (1) Grande Court Jacksonville, FL 15,474 4,746 17,564 187 408 4,933 17,972 22,905 (2,284 ) 2002 2019 (1) Noah's Landing Naples FL 16,889 6,517 17,121 121 482 6,638 17,603 24,241 (2,270 ) 2002 2019 (1) Tuscan Isle Naples FL 19,157 7,528 19,904 137 676 7,665 20,580 28,245 (2,737 ) 2001 2019 (1) Concord Park Apartments Fort Meade, MD 61,810 20,082 67,141 172 858 20,254 67,999 88,253 (5,435 ) 2005 2019 (1) Columbus Multifamily Portfolio 80 on the Commons Columbus, OH 17,991 1,723 29,200 30 — 1,753 29,200 30,953 (1,646 ) 2018 2019 (1) Gramercy Columbus, OH 35,903 12,065 35,270 69 — 12,134 35,270 47,404 (2,865 ) 2013 2019 (1) 250 High Columbus, OH 19,836 1,440 27,818 — — 1,440 27,818 29,258 (1,508 ) 2015 2019 (1) 600 Goodale Columbus, OH 26,270 2,537 29,176 159 — 2,696 29,176 31,872 (1,679 ) 2013 2019 (1) 801 Polaris Columbus, OH 33,109 2,930 39,135 844 (834 ) 3,774 38,301 42,075 (2,193 ) 2015 2019 (1) Cascades Apartments Charlotte, NC 72,195 12,711 92,689 267 244 12,978 92,933 105,911 (5,683 ) 2009/2012 2019 (1) Thornton Apartments Alexandria, VA 118,151 30,472 145,504 86 28 30,558 145,532 176,090 (8,139 ) 2018 2019 (1) Exchange on Erwin Durham, NC 50,542 18,313 54,839 19 79 18,332 54,918 73,250 (3,777 ) 2018 2019 (1) The Griffin Scottsdale, AZ 64,686 17,614 74,940 80 152 17,694 75,092 92,786 (4,601 ) 2018 2019 (1) Avida Apartments Salt Lake City, UT 56,355 8,018 73,763 393 411 8,411 74,174 82,585 (4,676 ) 2012 2019 (1) Highlands Portfolio Graham Park Columbus, OH 23,124 3,440 27,150 9 — 3,449 27,150 30,599 (1,190 ) 2019 2020 (1) Luxe Columbus, OH 23,972 2,170 30,051 5 1 2,175 30,052 32,227 (1,165 ) 2019 2020 (1) Harper House Columbus, OH 25,465 3,285 30,573 1 — 3,286 30,573 33,859 (1,237 ) 2019 2020 (1) The Baxter Decatur Atlanta, GA 53,462 8,603 69,963 82 78 8,685 70,041 78,726 (2,951 ) 2019 2020 (1) Kalina Way Salt Lake City, UT 57,928 7,101 74,739 10 55 7,111 74,794 81,905 (2,764 ) 2017 2020 (1) Acadia Apartments Ashburn, VA 134,338 18,337 168,734 169 1,235 18,506 169,969 188,475 (5,634 ) 1999 2020 (1) Southeast Affordable Housing Portfolio Arboretum Place Newport News, VA 14,663 4,339 15,528 13 310 4,352 15,838 20,190 (1,095 ) 1995 2020 (1) Courtney Manor Jacksonville, FL 26,163 9,049 25,981 76 432 9,125 26,413 35,538 (1,717 ) 2000 2020 (1) Creekside at Bellemeade High Point, NC 4,640 2,031 4,415 52 62 2,083 4,477 6,560 (571 ) 1999 2020 (1) Falcon Trace Orlando, FL 38,926 9,022 41,818 128 404 9,150 42,222 51,372 (2,735 ) 1999 2020 (1) Hatteras Sound Sanford, FL 24,859 5,354 27,465 70 125 5,424 27,590 33,014 (1,482 ) 2001 2020 (1) Las Villas de Kino I Tucson, AZ 18,108 6,561 16,745 50 442 6,611 17,187 23,798 (1,286 ) 1999 2020 (1) Las Villas de Kino II Tucson, AZ 8,147 2,952 7,533 29 423 2,981 7,956 10,937 (586 ) 1999 2020 (1) Lexington Club Vero Beach, FL 14,738 2,972 19,583 93 193 3,065 19,776 22,841 (1,412 ) 1999 2020 (1) Madelyn Oaks Jacksonville, FL 27,394 8,881 28,528 27 362 8,908 28,890 37,798 (1,876 ) 2002 2020 (1) Oak Crest Kannapolis, NC 9,373 2,137 10,411 188 258 2,325 10,669 12,994 (841 ) 1999 2020 (1) Overlook at Simms Creek Raleigh, NC 25,691 7,189 23,030 73 313 7,262 23,343 30,605 (1,847 ) 2002 2020 (1) Parkside Royal Poinciana West Palm Beach, FL 10,045 4,624 8,889 120 301 4,744 9,190 13,934 (813 ) 1996 2020 (1) Patriots Pointe Concord, NC 7,760 1,564 7,904 135 65 1,699 7,969 9,668 (603 ) 2000 2020 (1) Ponce Harbor St. Augustine, FL 15,601 3,294 18,870 62 113 3,356 18,983 22,339 (951 ) 2002 2020 (1) Reserves at Arboretum Newport News, VA 18,750 3,449 25,920 13 197 3,462 26,117 29,579 (1,623 ) 2009 2020 (1) River Reach Orlando, FL 33,525 10,491 33,546 139 393 10,630 33,939 44,569 (2,434 ) 1996 2020 (1) Riverwalk Brighton, CO 19,015 3,280 20,932 123 184 3,403 21,116 24,519 (1,373 ) 1998 2020 (1) Silver Hill Newport News, VA 9,920 3,381 9,549 — 202 3,381 9,751 13,132 (640 ) 1995 2020 (1) Spinnaker Reach Jacksonville, FL 28,485 6,248 35,599 67 608 6,315 36,207 42,522 (2,336 ) 1999 2020 (1) Stone Creek Mooresville, NC 8,364 1,844 7,492 67 220 1,911 7,712 9,623 (633 ) 1997 2020 (1) Villa Biscayne Homestead, FL 20,339 4,575 23,600 51 187 4,626 23,787 28,413 (1,614 ) 1995 2020 (1) Vista Haven Sanford, FL 40,994 9,562 47,788 118 314 9,680 48,102 57,782 (3,248 ) 2001 2020 (1) Willow Ridge Greensboro, NC 5,200 2,157 4,656 34 68 2,191 4,724 6,915 (458 ) 1999 2020 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Mid-Atlantic Affordable Housing Portfolio Autumn Ridge Memphis, TN 7,547 2,591 7,180 42 118 2,633 7,298 9,931 (368 ) 1997 2020 (1) Autumn Wind Winchester, VA 9,840 2,724 10,005 32 72 2,756 10,077 12,833 (543 ) 1999 2020 (1) Bridgeport Hampton, VA 17,130 4,285 18,075 7 169 4,292 18,244 22,536 (799 ) 1998 2020 (1) Cascade Village Holland, MI 13,680 3,389 14,530 37 159 3,426 14,689 18,115 (704 ) 2000 2020 (1) Chestnut Ridge I Harrisonburg, VA 7,920 2,694 7,540 54 65 2,748 7,605 10,353 (425 ) 1998 2020 (1) Chestnut Ridge II Harrisonburg, VA 3,840 1,328 3,682 10 41 1,338 3,723 5,061 (213 ) 1999 2020 (1) Columbia Hills Columbia, TN 9,740 2,871 9,816 91 321 2,962 10,137 13,099 (527 ) 1997 2020 (1) Crestview Fredericksburg, VA 26,720 4,358 30,470 47 156 4,405 30,626 35,031 (1,313 ) 1999 2020 (1) Dominion Pines Chesapeake, VA 11,755 2,896 12,516 — 160 2,896 12,676 15,572 (565 ) 1994 2020 (1) Falcon Pointe Rosenberg, TX 9,440 1,876 10,461 13 123 1,889 10,584 12,473 (536 ) 1998 2020 (1) Foxridge Durham, NC 10,333 2,524 10,986 3 90 2,527 11,076 13,603 (539 ) 1998 2020 (1) Genito Glen Midlothian, VA 10,960 2,703 11,559 52 43 2,755 11,602 14,357 (555 ) 1998 2020 (1) Kings Ridge Newport News, VA 15,572 4,729 15,539 122 191 4,851 15,730 20,581 (789 ) 1996 2020 (1) Las Villas de Leon San Antonio, TX 7,560 2,347 7,458 59 175 2,406 7,633 10,039 (408 ) 2000 2020 (1) Landing at Markhams Grant I Woodbridge, VA 12,556 1,827 14,664 24 59 1,851 14,723 16,574 (626 ) 1998 2020 (1) Landing at Markhams Grant II Woodbridge, VA 18,107 3,198 20,424 38 82 3,236 20,506 23,742 (897 ) 2000 2020 (1) Landing at Markhams Grant III Woodbridge, VA 24,580 3,592 28,539 24 131 3,616 28,670 32,286 (1,149 ) 2002 2020 (1) Ocean Gate Virginia Beach, VA 20,080 4,347 21,957 31 148 4,378 22,105 26,483 (966 ) 1997 2020 (1) Parkview Huntersville, NC 11,191 1,876 12,739 12 21 1,888 12,760 14,648 (551 ) 1996 2020 (1) River Birch Raleigh, NC 19,411 4,168 21,150 19 137 4,187 21,287 25,474 (891 ) 1996 2020 (1) River Park Place Vero Beach, FL 8,538 2,661 8,425 30 109 2,691 8,534 11,225 (442 ) 1998 2020 (1) Soldiers Ridge Manassas, VA 20,092 2,746 23,544 13 112 2,759 23,656 26,415 (940 ) 1996 2020 (1) South Main Manassas, VA 11,241 2,001 12,687 38 49 2,039 12,736 14,775 (560 ) 1999 2020 (1) Sterling Crest Saginaw, MI 8,800 4,176 7,229 55 93 4,231 7,322 11,553 (458 ) 1999 2020 (1) Stonegate Stafford, VA 28,880 3,963 33,721 43 88 4,006 33,809 37,815 (1,342 ) 1998 2020 (1) Woodbridge Chesapeake, VA 15,125 3,571 16,250 11 124 3,582 16,374 19,956 (695 ) 1994 2020 (1) Woodburn I Manassas, VA 24,112 3,365 28,215 13 105 3,378 28,320 31,698 (1,159 ) 1998 2020 (1) Woodburn II Manassas, VA 15,250 2,525 17,409 36 55 2,561 17,464 20,025 (739 ) 1998 2020 (1) Florida Affordable Housing Portfolio II Leigh Meadows Jacksonville, FL 24,172 4,743 26,758 87 2,890 4,830 29,648 34,478 (1,189 ) 1997 2020 (1) Holly Cove Jacksonville, FL 20,619 3,854 23,149 15 2,100 3,869 25,249 29,118 (1,073 ) 1996 2020 (1) Thomas Chase Jacksonville, FL 24,203 4,307 27,346 80 2,399 4,387 29,745 34,132 (1,171 ) 2004 2020 (1) Camri Green Jacksonville, FL 16,846 3,695 18,200 52 1,641 3,747 19,841 23,588 (895 ) 2004 2020 (1) Southeast Affordable Housing Portfolio II Culpeper Commons Culpeper, VA 12,483 4,058 13,749 — 48 4,058 13,797 17,855 (436 ) 1998 2021 (1) England Run Fredericksburg, VA 18,812 3,857 23,614 5 78 3,862 23,692 27,554 (579 ) 2001 2021 (1) Glen Creek Elkton, MD 15,263 5,985 16,353 47 27 6,032 16,380 22,412 (545 ) 2002 2021 (1) Glen Ridge Woodbridge, VA 21,667 4,159 27,218 16 111 4,175 27,329 31,504 (603 ) 1996 2021 (1) Grande Court Boggy Kissimmee, FL 34,904 9,361 41,265 21 84 9,382 41,349 50,731 (983 ) 2003 2021 (1) Magnolia Creste Dallas, GA 16,438 2,650 21,475 7 26 2,657 21,501 24,158 (537 ) 2001 2021 (1) Magnolia Village Lawrenceville, GA 15,783 5,107 16,645 18 35 5,125 16,680 21,805 (531 ) 2002 2021 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Park Ridge I Stafford, VA 20,255 2,950 20,536 — 42 2,950 20,578 23,528 (462 ) 1998 2021 (1) Park Ridge II Stafford, VA — 828 5,153 — 18 828 5,171 5,999 (125 ) 1999 2021 (1) Rocky Creek Greenville, SC 14,395 3,030 17,079 9 39 3,039 17,118 20,157 (449 ) 2006 2021 (1) Azalea Multifamily Portfolio 6162 Dallas, TX 35,630 5,422 56,079 — — 5,422 56,079 61,501 (793 ) 2014 2021 (1) Afton Ridge Concord, NC 46,500 9,516 62,919 — — 9,516 62,919 72,435 (996 ) 2015 2021 (1) Ariva Lakeland, FL 51,899 9,846 57,063 6 242 9,852 57,305 67,157 (1,028 ) 2017 2021 (1) Autumn Wood Murfreesboro, TN 42,490 6,114 54,974 — — 6,114 54,974 61,088 (895 ) 2016 2021 (1) Clearbrook Frederick, MD 62,090 12,564 51,451 13 6 12,577 51,457 64,034 (789 ) 2006 2021 (1) Crosstown Tampa, FL 58,695 8,066 65,753 — 9 8,066 65,762 73,828 (1,041 ) 2013 2021 (1) Gwinnett Stadium Lawrenceville, GA 41,090 5,199 48,131 41 — 5,240 48,131 53,371 (599 ) 2013 2021 (1) Lake Highlands Dallas, TX 48,510 7,609 69,591 — — 7,609 69,591 77,200 (1,021 ) 2014 2021 (1) Lakehouse Plant City, FL 16,940 3,334 23,339 — 32 3,334 23,371 26,705 (390 ) 2015 2021 (1) Luxe Aubrey, TX 52,290 10,084 78,835 5 — 10,089 78,835 88,924 (1,221 ) 2017 2021 (1) Millenia Orlando, FL 36,890 6,305 47,647 23 — 6,328 47,647 53,975 (737 ) 2016 2021 (1) Park Place Morrisville, NC 52,920 9,295 57,281 — — 9,295 57,281 66,576 (944 ) 2016 2021 (1) Stone Hill Pflugerville, TX 48,790 11,186 67,934 — 36 11,186 67,970 79,156 (1,019 ) 2017 2021 (1) Stone Hill Two Pflugerville, TX 58,800 13,420 74,941 — — 13,420 74,941 88,361 (1,169 ) 2013 2021 (1) Thorton Park Jacksonville, FL 66,616 9,950 91,924 5 101 9,955 92,025 101,980 (1,375 ) 2007 2021 (1) Travesia Austin, TX 75,460 13,787 79,703 — — 13,787 79,703 93,490 (1,224 ) 2017 2021 (1) Victoria Grand Tallahassee, FL 47,390 7,002 61,768 — — 7,002 61,768 68,770 (967 ) 2008 2021 (1) Keystone Castle Hills Dallas, TX 76,513 23,122 99,118 72 370 23,194 99,488 122,682 (2,071 ) 1992 2021 (1) Greater Boston Affordable Portfolio Chestnut Farms Boston, MA 48,748 17,400 50,444 — — 17,400 50,444 67,844 (432 ) 2004 2021 (1) Franklin Commons Boston, MA 18,302 7,326 17,134 — — 7,326 17,134 24,460 (213 ) 2003 2021 (1) Parkway Heights Boston, MA 16,627 5,185 16,959 — 13 5,185 16,972 22,157 (162 ) 2006 2021 (1) Quail Run Boston, MA 26,579 9,229 27,923 — 4 9,229 27,927 37,156 (302 ) 2006 2021 (1) The Preserve at Walpole Boston, MA 33,378 21,173 64,389 — — 21,173 64,389 85,562 (523 ) 2005 2021 (1) Columbus Preferred Portfolio 5188 Baxter Park Westerville, OH 21,700 6,795 23,058 — — 6,795 23,058 29,853 (203 ) 2021 2021 (1) 1025 Luxe Avenue Columbus, OH 45,500 7,955 43,178 — — 7,955 43,178 51,133 (340 ) 2021 2021 (1) The Palmer Dadeland Miami, FL 259,800 56,854 304,585 — 6 56,854 304,591 361,445 (2,913 ) 2020 2021 (1) Seven Springs Apartments Burlington, MA 117,110 27,104 164,679 — 12 27,104 164,691 191,795 (1,445 ) 2020 2021 (1) Maison's Landing Salt Lake City, UT 102,120 14,890 152,592 3 16 14,893 152,608 167,501 (1,454 ) 1997 2021 (1) Sawyer Flats Gaithersburg, MD 144,060 32,701 168,846 — 37 32,701 168,883 201,584 (1,145 ) 1990 2021 (1) Florida Affordable Housing Portfolio III Cedar Forest Tampa, FL 24,810 7,652 36,361 — 5 7,652 36,366 44,018 (179 ) 1997 2021 (1) Charleston Place Holly Hill, FL 17,520 5,930 21,309 — 2 5,930 21,311 27,241 (115 ) 2002 2021 (1) Club at Sugar Mill Port Orange, FL 14,260 4,449 15,946 — 1 4,449 15,947 20,396 (86 ) 2000 2021 (1) Gardens at Rose Harbor Tampa, FL 16,680 5,659 21,524 — — 5,659 21,524 27,183 (105 ) 2003 2021 (1) Nantucket Bay Temple Terrace, FL 15,150 6,364 18,782 — 1 6,364 18,783 25,147 (98 ) 1999 2021 (1) Savannah Bay Tarpon Springs, FL 12,610 5,374 9,640 — 1 5,374 9,641 15,015 (65 ) 2004 2021 (1) Villas at Newport Landing Tampa, FL 14,260 4,737 17,754 — — 4,737 17,754 22,491 (92 ) 2001 2021 (1) Williams Landing Tampa, FL 12,110 5,232 14,576 — 3 5,232 14,579 19,811 (78 ) 2000 2021 (1) Williams Villas Tampa, FL 5,750 2,996 6,417 — — 2,996 6,417 9,413 (39 ) 2002 2021 (1) Brookwood Forest Jacksonville, FL 23,560 4,250 35,025 — 3 4,250 35,028 39,278 (154 ) 2006 2021 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Cambridge Cove Lakeland, FL 29,180 4,688 42,497 — 3 4,688 42,500 47,188 (188 ) 2002 2021 (1) Enclave on Woodbridge Fernandina Beach, FL 25,690 6,407 36,228 — — 6,407 36,228 42,635 (178 ) 2005 2021 (1) Kathleen Pointe Lakeland, FL 7,900 2,424 15,304 — — 2,424 15,304 17,728 (74 ) 2007 2021 (1) Nantucket Cove Springhill, FL 15,800 4,592 20,167 — — 4,592 20,167 24,759 (106 ) 2006 2021 (1) Preserve on 51st Bradenton, FL 35,240 9,401 46,158 — 2 9,401 46,160 55,561 (230 ) 2005 2021 (1) Venue at Lockwood Bradenton, FL 40,050 11,559 54,891 — — 11,559 54,891 66,450 (273 ) 2002 2021 (1) Raleigh Multifamily Portfolio 3201 Walnut Creek Parkway Raleigh, NC 84,534 16,288 109,108 — 15 16,288 109,123 125,411 (407 ) 1985 2021 (1) 2600 Harvest Creek Place Cary, NC 62,425 16,094 77,575 — 24 16,094 77,599 93,693 (305 ) 2000 2021 (1) 1000 Henrico Lane Morrisville, NC 65,677 12,383 86,037 — 22 12,383 86,059 98,442 (344 ) 2000 2021 (1) 5140 Copper Ridge Drive Durham, NC 41,617 8,733 53,561 — 5 8,733 53,566 62,299 (220 ) 1996 2021 (1) 100-1700 Lake Front Drive Raleigh, NC 65,027 14,875 81,696 — 20 14,875 81,716 96,591 (335 ) 1986 2021 (1) 3004 Dorner Circle Raleigh, NC 48,120 9,328 62,187 — 9 9,328 62,196 71,524 (227 ) 1982 2021 (1) Carroll South Florida Bella Vista Boca Raton, FL 90,836 13,144 125,094 — — 13,144 125,094 138,238 (393 ) 1986 2021 (1) Centro Sunforest Davie, FL 114,422 25,015 152,738 — 297 25,015 153,035 178,050 (493 ) 1989 2021 (1) Stonybrook Boynton Beach, FL 61,142 12,346 81,036 — — 12,346 81,036 93,382 (227 ) 2001 2021 (1) SEG Multifamily Portfolio Alta Mill Apartments Austell, GA 63,100 13,213 82,343 — — 13,213 82,343 95,556 (298 ) 2000 2021 (1) Arnada Pointe Vancouver, WA 30,600 7,127 45,385 — — 7,127 45,385 52,512 (164 ) 1995 2021 (1) Ashmore Bridge Estates Apartments Mauldin, SC 27,400 5,548 42,280 — — 5,548 42,280 47,828 (149 ) 1997 2021 (1) Audubon Park Apartments Hanahan, SC 26,200 5,397 33,706 — — 5,397 33,706 39,103 (123 ) 1991 2021 (1) Bradford Place Apartments Warner Robins, GA 22,300 4,687 29,271 — — 4,687 29,271 33,958 (106 ) 1997 2021 (1) Brandemere Salem, NC 24,600 5,274 32,967 — — 5,274 32,967 38,241 (119 ) 1983 2021 (1) Brook Valley Apartments Douglasville, GA 23,000 4,837 30,158 — — 4,837 30,158 34,995 (110 ) 1990 2021 (1) Brookmont Waldorf, MD 12,800 3,102 19,366 — — 3,102 19,366 22,468 (70 ) 1977 2021 (1) Cascadia Pointe Everett, WA 18,900 4,584 28,975 — — 4,584 28,975 33,559 (105 ) 1990 2021 (1) Cherrywood Village Parker, CO 72,400 16,807 125,363 — — 16,807 125,363 142,170 (444 ) 2001 2021 (1) Coachman's Landing Waldorf, MD 15,900 3,594 22,471 — — 3,594 22,471 26,065 (82 ) 1989 2021 (1) Crossland Waldorf, MD 12,000 2,815 17,592 — — 2,815 17,592 20,407 (64 ) 1978 2021 (1) Cypress Pointe Apartments Wilmington, NC 19,400 4,045 25,280 — — 4,045 25,280 29,325 (91 ) 1985 2021 (1) Durant at Sugarloaf Apartments Lawrenceville, GA 40,000 8,390 52,333 — 2 8,390 52,335 60,725 (190 ) 2000 2021 (1) Eagle Point Apartments Knoxville, TN 62,000 13,076 151,382 — — 13,076 151,382 164,458 (513 ) 1985 2021 (1) Eastchester Ridge High Point, NC 12,900 2,746 17,149 — — 2,746 17,149 19,895 (62 ) 1980 2021 (1) Estate on Quarry Lake Apartments Austin, TX 45,500 9,565 59,725 — — 9,565 59,725 69,290 (216 ) 1995 2021 (1) Estates at Bellwood Apartments Greenville, SC 15,300 3,266 20,401 — — 3,266 20,401 23,667 (74 ) 1992 2021 (1) Falls at Sope Creek Marietta, GA 60,300 12,667 78,943 — — 12,667 78,943 91,610 (287 ) 1982 2021 (1) Forest Ridge Apartments Knoxville, TN 76,800 16,055 185,975 — — 16,055 185,975 202,030 (630 ) 1996 2021 (1) Fox Chase Waldorf, MD 21,700 5,630 35,037 — — 5,630 35,037 40,667 (128 ) 1986 2021 (1) Fox Hollow High Point, NC 14,100 3,102 19,366 — — 3,102 19,366 22,468 (70 ) 1986 2021 (1) Fulton's Crossing Everett, WA 80,800 17,927 112,945 — — 17,927 112,945 130,872 (409 ) 1986 2021 (1) Galleria Park Apartments Warner Robins, GA 16,700 3,484 21,732 — — 3,484 21,732 25,216 (78 ) 1995 2021 (1) Gio Apartments Plano, TX 86,900 22,546 140,590 — — 22,546 140,590 163,136 (510 ) 1996 2021 (1) Gleneagles Waldorf, MD 35,800 7,665 47,750 — — 7,665 47,750 55,415 (173 ) 2009 2021 (1) Grande Club Apartments Duluth, GA 36,200 7,884 49,229 — 834 7,884 50,063 57,947 (179 ) 1998 2021 (1) Grande Oaks Roswell, GA 44,600 9,373 58,394 — — 9,373 58,394 67,767 (212 ) 1996 2021 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Grove Veridian Spartanburg, NC 12,100 2,555 15,966 — 464 2,555 16,430 18,985 (58 ) 1998 2021 (1) Hunter's Run Waldorf, MD 13,600 3,238 20,253 — — 3,238 20,253 23,491 (74 ) 1985 2021 (1) Icon on the Greenway Gastonia, NC 24,800 5,110 31,932 — — 5,110 31,932 37,042 (116 ) 1998 2021 (1) Lee's Crossing La Grange, GA 28,800 6,053 37,698 — — 6,053 37,698 43,751 (137 ) 1991 2021 (1) Links at Gleneagles Waldorf, MD 38,500 8,308 51,742 — — 8,308 51,742 60,050 (188 ) 2015 2021 (1) Lodge at Mallard Creek Charlotte, NC 35,600 7,816 48,785 — — 7,816 48,785 56,601 (177 ) 1999 2021 (1) Mirabella Everett, WA 20,400 4,826 30,454 — — 4,826 30,454 35,280 (110 ) 1989 2021 (1) New Forest Waldorf, MD 34,800 7,324 45,681 — — 7,324 45,681 53,005 (166 ) 1988 2021 (1) Nickel Creek Lynnwood, WA 33,300 8,062 50,855 — — 8,062 50,855 58,917 (184 ) 1986 2021 (1) Nines Gleneagles Waldorf, MD 20,200 4,154 25,871 — — 4,154 25,871 30,025 (94 ) 2011 2021 (1) Northtown Village Apartments Hixson, TN 17,500 3,621 41,985 — — 3,621 41,985 45,606 (142 ) 1986 2021 (1) Northwood Apartments Macon, GA 21,000 4,400 27,497 — — 4,400 27,497 31,897 (99 ) 1996 2021 (1) One Midtown Wilmington, NC 34,500 7,174 44,794 — — 7,174 44,794 51,968 (163 ) 2015 2021 (1) Palm Club Brunswick, GA 13,800 2,883 18,036 — — 2,883 18,036 20,919 (65 ) 1999 2021 (1) Parkside at the Highlands Savannah, GA 36,100 7,461 46,568 — — 7,461 46,568 54,029 (169 ) 2015 2021 (1) Patriot Point Spring Lake, NC 16,100 3,238 20,253 — — 3,238 20,253 23,491 (74 ) 1993 2021 (1) Quad Wilmington, NC 15,600 3,266 20,401 — — 3,266 20,401 23,667 (74 ) 1997 2021 (1) Racquet Club Lexington, KY 34,100 8,663 53,959 — — 8,663 53,959 62,622 (195 ) 2000 2021 (1) Ranchstone Parker, CO 74,700 17,012 126,989 — — 17,012 126,989 144,001 (450 ) 2001 2021 (1) Retreat at Grande Lake Brunswick, GA 22,100 4,646 28,975 — — 4,646 28,975 33,621 (105 ) 2001 2021 (1) Retreat at Hidden Bay St. Marys, GA 15,200 3,170 19,810 — — 3,170 19,810 22,980 (71 ) 1991 2021 (1) Revival on Main Kennesaw, GA 48,000 9,920 61,794 — — 9,920 61,794 71,714 (225 ) 2016 2021 (1) Royal Oaks Apartments Savannah, GA 21,900 4,482 36,219 — — 4,482 36,219 40,701 (127 ) 1977 2021 (1) Saratoga Everett, WA 17,600 4,239 26,610 — — 4,239 26,610 30,849 (97 ) 1990 2021 (1) Sheffield Greens Waldorf, MD 41,600 8,581 53,516 — — 8,581 53,516 62,097 (194 ) 2006 2021 (1) Smoky Crossing Apartments Seymour, TN 50,700 10,371 120,337 — — 10,371 120,337 130,708 (407 ) 1997 2021 (1) Town Park Crossing Apartments Kennesaw, GA 43,500 9,100 56,768 — — 9,100 56,768 65,868 (206 ) 1996 2021 (1) Towne Creek Gainesville, GA 15,800 3,307 20,549 — — 3,307 20,549 23,856 (75 ) 1989 2021 (1) Village Lakes Waldorf, MD 13,600 3,170 19,810 — — 3,170 19,810 22,980 (71 ) 1994 2021 (1) Waterford Landing Apartments Hermitage, TN 25,800 5,616 64,899 — — 5,616 64,899 70,515 (219 ) 1998 2021 (1) Waterstone at Murietta Apartments Murieta, CA 83,300 18,884 117,823 — — 18,884 117,823 136,707 (428 ) 1990 2021 (1) Woodland Crossing Apartments New Bern, NC 23,900 5,261 32,819 — — 5,261 32,819 38,080 (119 ) 1998 2021 (1) Woodland Park Apartments Greensboro, NC 15,000 3,484 27,201 — — 3,484 27,201 30,685 (95 ) 1984 2021 (1) Wyndchase Bellevue Apartments Nashville, TN 31,300 6,531 75,691 — — 6,531 75,691 82,222 (256 ) 1998 2021 (1) National Affordable Housing Portfolio Centre Court Bradenton, FL 19,912 5,335 29,299 — — 5,335 29,299 34,634 (36 ) 2000 2021 (1) Commander Place Orlando, FL 26,215 5,713 31,374 — — 5,713 31,374 37,087 (38 ) 1996 2021 (1) Pasco Woods Wesley Chapel, FL 21,522 4,511 24,772 — — 4,511 24,772 29,283 (31 ) 2000 2021 (1) Pemberly Palms Vero Beach, FL 19,711 4,645 25,507 — — 4,645 25,507 30,152 (31 ) 1996 2021 (1) Harris Branch Austin, TX 37,444 7,048 51,379 — — 7,048 51,379 58,427 (60 ) 2007 2021 (1) Park Place Loyola Austin, TX 37,884 6,468 47,157 — — 6,468 47,157 53,625 (56 ) 2008 2021 (1) Santoras Villas Austin, TX 28,036 5,111 37,263 — — 5,111 37,263 42,374 (44 ) 2008 2021 (1) Villas Shaver Pasadena, TX 17,211 3,182 23,197 — — 3,182 23,197 26,379 (27 ) 2008 2021 (1) Chelsea Commons Greenacres, FL 34,145 12,348 44,910 — — 12,348 44,910 57,258 (59 ) 1999 2021 (1) Colony Park West Palm Beach, FL 19,407 6,626 24,101 — — 6,626 24,101 30,727 (32 ) 2002 2021 (1) Forest Glen Durham, NC 13,862 2,975 10,821 — — 2,975 10,821 13,796 (14 ) 2001 2021 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) Grande Court Sarasota North Port, FL 14,811 5,010 18,221 — — 5,010 18,221 23,231 (24 ) 2005 2021 (1) Hampton Ridge Jax Jacksonville, FL 8,536 2,476 9,005 — — 2,476 9,005 11,481 (12 ) 1990 2021 (1) Mayflower Harbor Lehi, UT 31,810 9,050 32,915 — — 9,050 32,915 41,965 (44 ) 1999 2021 (1) Rose Cove SLC Farmington, UT 16,051 4,649 16,909 — — 4,649 16,909 21,558 (23 ) 2002 2021 (1) San Marcos Villas Lake Park, FL 51,145 18,054 65,663 — — 18,054 65,663 83,717 (87 ) 2003 2021 (1) Venice Cove FLL Ft Lauderdale, FL 17,583 5,878 21,379 — — 5,878 21,379 27,257 (28 ) 2003 2021 (1) Central Park Portfolio - 7575 Town Center Denver, CO 115,332 21,500 153,357 — — 21,500 153,357 174,857 (169 ) 2017 2021 (1) Aster East Denver, CO 91,059 16,988 121,172 — — 16,988 121,172 138,160 (134 ) 2019 2021 (1) Aster West Denver, CO 68,180 12,727 90,780 — — 12,727 90,780 103,507 (101 ) 2014 2021 (1) Aster North Denver, CO 31,227 5,845 41,693 — — 5,845 41,693 47,538 (46 ) 2016 2021 (1) Aster South Denver, CO 20,952 3,931 28,036 — — 3,931 28,036 31,967 (31 ) 2014 2021 (1) Botanica Town Center Denver, CO 40,350 7,234 51,600 — — 7,234 51,600 58,834 (57 ) 2004 2021 (1) Crescent Flats Denver, CO 35,575 6,497 46,344 — — 6,497 46,344 52,841 (51 ) 2004 2021 (1) Total Multifamily Properties $ 7,620,563 $ 1,690,961 $ 9,993,333 $ 6,582 $ 27,006 $ 1,697,543 $ 10,020,339 $ 11,717,882 $ (182,691 ) Single-Family Rental Properties Single-Family Rental Joint Venture Various $ 69,840 $ 39,012 $ 61,403 $ — $ — $ 39,012 $ 61,403 $ 100,415 $ (363 ) Various 2021 (1) Sunbelt Single-Family Rental Portfolio Various 613,840 265,138 751,169 — — 265,138 751,169 1,016,307 (874 ) Various 2021 (1) Total Single-Family Rental Properties $ 683,680 $ 304,150 $ 812,572 $ — $ — $ 304,150 $ 812,572 $ 1,116,722 $ (1,237 ) Hospitality properties: U.S. Select Service Portfolio Hyatt Place Boulder Boulder, CO (3) $ 47,948 $ 13,890 $ 33,673 $ 7 $ 165 $ 13,897 $ 33,838 $ 47,735 $ (2,780 ) 2015 2019 (1) Residence Inn Tampa Tampa, FL 21,963 7,826 33,325 644 128 8,470 33,453 41,923 (2,632 ) 2001 2019 (1) Courtyard by Marriott Fort Myers Fort Myers, FL 14,703 5,522 21,035 567 86 6,089 21,121 27,210 (1,687 ) 2007 2019 (1) TownePlace Suites Tampa Tampa, FL 11,708 5,064 16,712 407 68 5,471 16,780 22,251 (1,329 ) 2008 2019 (1) Residence Inn Cleveland Cleveland, OH (3) — 2,867 19,944 181 457 3,048 20,401 23,449 (1,650 ) 1997 2019 (1) Residence Inn Little Rock Little Rock, AR 13,463 2,410 16,472 185 69 2,595 16,541 19,136 (1,271 ) 2013 2019 (1) Hampton Inn Knoxville Knoxville, TN 9,211 1,343 12,868 570 51 1,913 12,919 14,832 (1,071 ) 2011 2019 (1) Springhill Suites Fort Myers Fort Myers, FL 8,510 4,658 7,484 519 45 5,177 7,529 12,706 (657 ) 2006 2019 (1) Total Hospitality Properties $ 127,506 $ 43,580 $ 161,513 $ 3,080 $ 1,069 $ 46,660 $ 162,582 $ 209,242 $ (13,077 ) Industrial properties: Midwest Industrial Portfolio 201 Swift Road Addison, IL (4) $ 210,027 $ 2,134 $ 5,578 $ 13 $ (106 ) $ 2,147 $ 5,472 $ 7,619 $ (440 ) 1995 2019 (1) 221 Swift Road Addison, IL (4) — 2,230 7,553 14 (12 ) 2,244 7,541 9,785 (611 ) 1995 2019 (1) 13005 Hamlin Court Alsip, IL (4) — 1,813 4,623 11 (10 ) 1,824 4,613 6,437 (447 ) 2014 2019 (1) 1695 Glen Ellyn Drive Glendale Heights, IL (4) — 2,206 4,769 14 (12 ) 2,220 4,757 6,977 (416 ) 2006 2019 (1) 845 Telser Road Lake Zurich, IL (4) — 1,370 2,325 8 (8 ) 1,378 2,317 3,695 (226 ) 2016 2019 (1) 1245-1247 Lakeside Drive Romeoville, IL (4) — 1,461 4,059 9 (9 ) 1,470 4,050 5,520 (402 ) 1998 2019 (1) 775 Commerce Parkway West Drive Greenwood, IN (4) — 1,314 10,189 8 (6 ) 1,322 10,183 11,505 (650 ) 2014 2019 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Land and Land Improvements Building and Building Improvements Total Accumulated Depreciation Year Built Year Acquired Depreciable Lives (1) 999 Gerdt Court Greenwood, IN (4) — 1,268 6,364 8 (6 ) 1,276 6,358 7,634 (546 ) 2001 2019 (1) 1600-1640 Northwind Pkwy Hobart, IN (4) — 879 3,010 5 (5 ) 884 3,005 3,889 (288 ) 2007 2019 (1) 1650 Northwind Pkwy Hobart, IN (4) — 860 2,954 5 (5 ) 865 2,949 3,814 (307 ) 2007 2019 (1) 1701-21 Northwind Pkwy Hobart, IN (4) — 1,264 5,974 8 (6 ) 1,272 5,968 7,240 (491 ) 2005 2019 (1) 1851 Northwind Parkway Hobart, IN (4) — 1,477 2,077 9 (8 ) 1,486 2,069 3,555 (264 ) 2015 2019 (1) 1901-51 Northwind Pkwy Hobart, IN (4) — 1,800 9,550 11 (9 ) 1,811 9,541 11,352 (815 ) 2006 2019 (1) 6241 Northwind Pkwy Hobart, IN (4) — 1,946 8,402 126 (10 ) 2,072 8,392 10,464 (759 ) 2008 2019 (1) 6451 Northwind Parkway Hobart, IN (4) — 2,782 8,375 17 (15 ) 2,799 8,360 11,159 (722 ) 2016 2019 (1) 8401 Bearing Drive Indianapolis, IN (4) — 3,159 13,189 20 (17 ) 3,179 13,172 16,351 (987 ) 2015 2019 (1) 8411 Bearing Drive Indianapolis, IN (4) — 1,448 6,515 9 (8 ) 1,457 6,507 7,964 (465 ) 2015 2019 (1) 8461 Bearing Drive Indianapolis, IN (4) — 1,337 10,188 8 (6 ) 1,345 10,182 11,527 (657 ) 2015 2019 (1) 101 45th Street Munster, IN (4) — 3,968 20,213 186 898 4,154 21,111 25,265 (1,930 ) 1991 2019 (1) 215 45th Street Munster, IN (4) — 1,209 3,473 7 (7 ) 1,216 3,466 4,682 (352 ) 1999 2019 (1) 225 45th Street Munster, IN (4) — 1,112 2,741 7 79 1,119 2,820 3,939 (273 ) 2000 2019 (1) 235 West 45th Street Munster, IN (4) — 1,163 1,847 7 (7 ) 1,170 1,840 3,010 (236 ) 2000 2019 (1) 333 45th Street Munster, IN (4) — 3,378 7,839 21 (18 ) 3,399 7,821 11,220 (847 ) 1999 2019 (1) 480 West 45th Street Munster, IN (4) — 1,542 6,356 10 (9 ) 1,552 6,347 7,899 (545 ) 2003 2019 (1) 3890 Perry Boulevard Whitestown, IN (4) — 698 4,491 4 (32 ) 702 4,459 5,161 (316 ) 2008 2019 (1) 4750 S Indianapolis Rd Whitestown, IN (4) — 3,167 14,293 20 (16 ) 3,187 14,277 17,464 (1,169 ) 2016 2019 (1) 4990 Indianapolis Road Whitestown, IN (4) — 1,668 8,319 10 (9 ) 1,678 8,310 9,988 (620 ) 2016 2019 (1) 5701 Meadows Drive Grove City, OH (4) — 2,166 10,542 13 (11 ) 2,179 10,531 12,710 (947 ) 1997 2019 (1) 5900 Meadows Drive Grove City, OH (4) — 2,369 11,916 15 (12 ) 2,384 11,904 14,288 (1,067 ) 1997 2019 (1) 2240 Creekside Parkway Lockbourne, OH (4) — 2,300 7,010 14 (12 ) 2,314 6,998 9,312 (599 ) 2012 2019 (1) 4410 North 132nd Street Butler, WI (4) — 1,248 6,383 8 251 1,256 6,634 7,890 (547 ) 1998 2019 (1) 4700 North Ironwood Drive Butler, WI (4) — 1,510 7,222 9 287 1,519 7,509 9,028 (601 ) 2000 2019 (1) W234 N2091 Ridgeview Parkway Court Butler, WI (4) — 1,965 7,508 12 (11 ) 1,977 7,497 9,474 (622 ) 2002 2019 (1) Marshfield Industrial Portfolio Baltimore, MD 106,698 21,720 139,433 187 4 21,907 139,437 161,344 (5,210 ) Various 2020 (1) Airport Logistics Park Nashville, TN 35,000 7,031 53,728 — — 7,031 53,728 60,759 (2,233 ) Various 2020 (1) Denver/Boulder Industrial Portfolio 321 Taylor Avenue Louisville, CO 12,514 3,006 15,435 — 7 3,006 15,442 18,448 (415 ) 1998 2021 (1) 1900 Taylor Avenue Louisville, CO 20,138 5,746 25,386 — — 5,746 25,386 31,132 (556 ) 2015 2021 (1) 2000 Taylor Avenue Louisville, CO 21,382 5,999 30,674 — 253 5,999 30,927 36,926 (675 ) 2016 2021 (1) 2035 Taylor Avenue Louisville, CO 18,328 4,122 20,497 — — 4,122 20,497 24,619 (410 ) 2018 2021 (1) 1775 Cherry Street Louisville, CO 19,377 4,726 25,499 — — 4,726 25,499 30,225 (549 ) 2008 2021 (1) 1900 Cherry Street Louisville, CO 15,935 2,581 18,089 — — 2,581 18,089 20,670 (359 ) 2014 2021 (1) 1960 Cherry Street Louisville, CO 9,014 2,265 9,133 — — 2,265 9,133 11,398 (199 ) 2015 2021 (1) 1795 Dogwood Street Louisville, CO 18,027 4,035 23,343 — — 4,035 23,343 27,378 (518 ) 2006 2021 (1) 1886 Prairie Way Louisville, CO 14,173 3,060 13,277 — — 3,060 13,277 16,337 (333 ) 2000 2021 (1) 195 CTC Boulevard Louisville, CO 9,282 2,652 10,195 — 3 2,652 10,198 12,850 (237 ) 2008 2021 (1) 633 CTC Boulevard Louisville, CO 24,663 6,351 33,818 — — 6,351 33,818 40,169 (687 ) 2017 2021 (1) 346 Arthur Avenue Louisville, CO 8,613 3,201 11,109 — — 3,201 11,109 14,310 (300 ) 2000 2021 (1) 1480 Arthur Avenue Louisville, CO 13,590 4,303 16,770 — — 4,303 16,770 21,073 (435 ) 2000 2021 (1) 600 Tech Court Louisville, CO 18,191 4,905 24,778 — — 4,905 24,778 29,683 (507 ) 2020 2021 (1) 700 Tech Court Louisville, CO 14,000 5,219 18,522 — — 5,219 18,522 23,741 (363 ) 2018 2021 (1) 725 Tech Court Louisville, CO 25,867 5,780 15,126 — 1,690 5,780 16,816 22,596 (327 ) 2021 2021 (1) Independence Logistics Park 359 Old Underwood Road La Porte, TX (5) 117,000 9,786 53,113 — — 9,786 53,113 62,899 (1,345 ) 2007 2021 (1) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at the Close of Period (2) Description Location Encumbrances Land and Land Improvements Building a

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. The Company has chosen to break out a financial statement line item in the Company’s Consolidated Statements of Cash Flows. On the Consolidated Statements of Cash Flows, “Straight-line rent amortization” has been reclassified from “Change in assets and liabilities - increase in other assets” for the year ended December 31, 2021. Such reclassification had no effect on the previously reported totals or subtotals included in the Consolidated Statements of Cash Flows. The accompanying consolidated financial statements include the accounts of the Company, the Company’s subsidiaries and joint ventures in which the Company has a controlling interest. For consolidated joint ventures, the non-controlling partner’s share of the assets, liabilities and operations of the joint ventures is included in non-controlling interests as equity of the Company. The non-controlling partner’s interest is generally computed as the joint venture partner’s ownership percentage. In determining whether the Company has a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, the Company considers whether the entity is a variable interest entity (“VIE”) and whether it is the primary beneficiary. The Company is the primary beneficiary of a VIE when it has (i) the power to direct the most significant activities impacting the economic performance of the VIE and (ii) the obligation to absorb losses or receive benefits significant to the VIE. The Operating Partnership is considered to be a VIE. The Company consolidates the Operating Partnership because it has the ability to direct the most significant activities of the entities such as purchases, dispositions, financings, budgets, and overall operating plans. Where the Company does not have the power to direct the activities of the VIE that most significantly impact its economic performance, the Company’s interest for those partially owned entities are accounted for using the equity method of accounting. The Company meets the VIE disclosure exemption criteria, as the Company’s interest in the Operating Partnership is considered a majority voting interest. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents represent cash held in banks, cash on hand, and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk exposure.
Restricted Cash	Restricted Cash Restricted cash primarily consists
Investments in Real Estate	Investments in Real Estate In accordance with the guidance for business combinations, the Company determines whether the acquisition of a property qualifies as a business combination, which requires that the assets acquired and liabilities assumed constitute a business. If the property acquired is not a business, the Company accounts for the transaction as an asset acquisition. All property acquisitions to date have been accounted for as asset acquisitions. Upon the acquisition of a property, the Company assesses the fair value of acquired tangible and intangible assets (including land, buildings, tenant improvements, “above-market” and “below-market” leases, acquired in-place leases, other identified intangible assets and assumed liabilities) and allocates the purchase price to the acquired assets and assumed liabilities. The Company assesses and considers fair value based on estimated cash flow projections that utilize discount and/or capitalization rates that it deems appropriate, as well as other available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends and market and economic conditions. The Company capitalizes acquisition-related costs associated with asset acquisitions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. The Company also considers an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants’ credit quality and expectations of lease renewals. Based on its acquisitions to date, the Company’s allocation to customer relationship intangible assets has not been material. The cost of buildings and improvements includes the purchase price of the Company’s properties and any acquisition-related costs, along with any subsequent improvements to such properties. The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building and land improvements 5 - 30 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles and leasehold improvements Shorter of useful life or lease term Repairs and maintenance are expensed to operations as incurred and are included in Rental property operating and Hospitality operating expenses on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Significant improvements to properties are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period. The Company records acquired above-market and below-market leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be received pursuant to each in-place lease and (2) management’s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases. Other intangible assets acquired include amounts for in-place lease values that are based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The amortization of acquired above-market and below-market leases is recorded as an adjustment to Rental revenue on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The amortization of in-place leases is recorded as an adjustment to Depreciation and amortization expense on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Certain of the Company’s investments in real estate are subject to a ground lease, for which a lease liability and corresponding right-of-use (“ROU”) asset were recognized. The Company calculates the amount of the lease liability and ROU asset by taking the present value of the remaining lease payments, and adjusting the ROU asset for any existing straight-line ground rent liability and acquired ground lease intangibles. The Company’s estimated incremental borrowing rate of a loan with a similar term as the ground lease was used as the discount rate. The lease liability is included as a component of Other liabilities and the related ROU asset is recorded as a component of Investments in real estate, net on the Company’s Consolidated Balance Sheets. The amortization of the above-market and below-market ground leases are recorded as an adjustment to Depreciation and amortization expense on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company’s management reviews its real estate properties for impairment when there is an event or change in circumstances that indicates an impaired value. Since cash flows on real estate properties considered to be “long-lived assets to be held and used” are considered on an undiscounted basis to determine whether an asset has been impaired, the Company’s strategy of holding properties over the long term decreases the likelihood of recording an impairment loss. If the Company’s strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may be recognized and such loss could be material to the Company’s results. If the Company determines that an impairment has occurred, the affected assets must be reduced to their fair value. During the periods presented, no such impairment occurred.
Investments in Unconsolidated Real Estate Ventures	Investments in Unconsolidated Real Estate Ventures Investments in unconsolidated joint ventures are initially recorded at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, the net equity investment of the Company is reflected within the Consolidated Balance Sheets, and the Company’s share of net income or loss from the joint ventures is included within the Company’s Consolidated Statements of Operations and Comprehensive Loss. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, the Company’s recognition of joint venture income or loss generally follows the joint venture’s distribution priorities, which may change upon the achievement of certain investment return thresholds. The Company’s investments in unconsolidated joint ventures are reviewed for impairment periodically and the Company records impairment charges when events or circumstances change indicating that a decline in the fair values below the carrying values has occurred and such decline is other-than-temporary. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. During the periods presented, no such impairment occurred.
Investments in Real Estate Debt	Investments in Real Estate Debt The Company’s investments in real estate debt consists of loans secured by real estate and real estate-related securities. The Company has elected to classify its real estate-related securities as trading securities and record such investments at fair value. As such, the resulting unrealized gains and losses of such securities are recorded as a component of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company elected the fair value option (“FVO”) for its loan secured by real estate. As such, the resulting unrealized gains and losses of such loan is recorded as a component of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Interest income from the Company’s investments in real estate-related debt securities is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. Upfront costs and fees related to items for which the FVO is elected shall be recognized in earnings as incurred and not deferred. Such items are recorded as components of Income (loss) from investments in real estate debt on the Company’s Consolidated Statements of Operations and Comprehensive Loss.
Derivative Instruments	Derivative Instruments The Company uses derivative financial instruments such as foreign currency swaps, interest rate swaps and interest rate caps to manage risks from fluctuations in exchange rates and interest rates. The Company records its derivatives on its Consolidated Balance Sheets at fair value and such amounts are included in Other assets or Other liabilities. Any changes in the fair value of these derivatives are recorded in earnings.
Foreign Currency	Foreign Currency The Company’s functional currency is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the reporting period. Income statement accounts are translated at average rates for the reporting period. Gains and losses from translation of foreign denominated transactions into U.S. dollars are included in current results of operations. Gains and losses resulting from foreign currency transactions are also included in current results of operations. The effects of translating the assets, liabilities and income of our foreign investments held by entities with functional currencies other than the U.S. dollar are included in OCI. Aggregate foreign currency translation and transaction gains or (losses) included in operations totaled
Fair Value Measurements	Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchical framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the market place, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Valuation of assets and liabilities measured at fair value The Company’s investments in real estate debt are reported at fair value. The Company’s investments in real estate debt include commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”). The Company generally determines the fair value of its investments by utilizing third-party pricing service providers. In determining the value of a particular investment, the pricing service providers may use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models to determine the reported price. The pricing service providers’ internal models for real estate-related securities usually consider the attributes applicable to a particular class of security (e.g., credit rating, seniority), current market data, and estimated cash flows for each class and incorporate deal collateral performance such as prepayment speeds and default rates, as available. Certain of the Company’s investments in real estate debt include loans secured by real estate, such as its term loan, which may not have readily available market quotations. In such cases, the Company will generally determine the initial value based on the origination amount or acquisition price of such investment if acquired by the Company or the par value of such investment if originated by the Company. Following the initial measurement, the Company will determine fair value by utilizing or reviewing certain of the following inputs (i) market yield data, (ii) discounted cash flow modeling, (iii) collateral asset performance, (iv) local or macro real estate performance, (v) capital market conditions, (vi) debt yield or loan-to-value ratios and (vii) borrower financial condition and performance. The Company’s investments in equity securities of public real estate-related companies are reported at fair value and were recorded as a component of Other assets on the Company’s Consolidated Balance Sheets. As such, the resulting unrealized gains and losses are recorded as a component of Other income (expense) on the Company’s Consolidated Statements of Operations and Comprehensive Loss. During the year ended December 31, 2021, the Company recognized $2.8 million of unrealized losses on its investments in equity securities. In determining the fair value of public equity securities, the Company utilizes the closing price of such securities in the principal market in which the security trades. The Company’s derivative financial instruments are reported at fair value flow analysis based on the terms of the contract and the forward interest rate curve adjusted for the Company’s nonperformance risk. The Company’s interest rate cap positions are valued using models developed by the respective counterparty as well as third party pricing service providers that use as their basis readily observable market parameters (such as forward yield curves and credit default swap data). As of December 31, 2021 , the Company held interest rate caps with an aggregate notional value of $ billion, two interest rate caps with an aggregate notional value of € 88.0 million, one interest rate cap with an aggregate notional value of kr 301.5 million associated with its Danish investment and two interest rate swaps with an aggregate notional value of $ million. The resulting unrealized gains and losses associated with the Company’s interest rate swaps and interest rate caps are recorded as a component of interest expense in the Company’s Consolidated Statements of Operations and Comprehensive Loss. During the year ended December 31, 2021, the Company recognized $ 22.8 million of net unrealized gains on its interest rate derivatives. The fair values of the Company’s foreign currency swaps are determined by comparing the contracted forward exchange rate to the current market exchange rate. The current market exchange rates are determined by using market spot rates, forward rates and interest rate curves for the underlying instruments. As of December 31, 2021, the Company held two GBP, five EUR and six DKK foreign currency swaps, with an aggregate notional value of £166 million, €232 million and kr290 million, respectively. The fair values of the Company’s financial instruments (other than investments in real estate debt, mortgage notes, revolving credit facility and derivative instruments), including cash, cash equivalents and restricted cash and other financial instruments, approximate their carrying or contract value. Investment in real estate debt is measured using transacted value, which is the par value, adjusted for foreign exchange effect. The following table details the Company’s assets and liabilities measured at fair value on a recurring basis ($ in thousands): December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investments in real estate debt $ — $ 466,475 $ 487,602 $ 954,077 $ — $ 218,225 $ — $ 218,225 Equity securities 172,236 — — 172,236 — — — — Derivatives — 194,053 — 194,053 — 1,410 — 1,410 Total $ 172,236 $ 660,528 $ 487,602 $ 1,320,366 $ — $ 219,635 $ — $ 219,635 Liabilities: Derivatives $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167 Total $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167 The following table details the Company’s assets measured at fair value on a recurring basis using Level 3 inputs ($ in thousands): Investments in Real Estate Debt Balance as of December 31, 2020 $ — Purchases 504,540 Included in net loss Foreign exchange (16,938 ) Unrealized gain (loss) — Balance as of December 31, 2021 $ 487,602 The following table contains the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy ($ in thousands): December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Weighted Average Impact to Valuation from an Increase in Input Investments in Real Estate Debt $ 487,602 Transacted value Cost N/A N/A Valuation of liabilities not measured at fair value the fair value of the Company’s mortgage notes, revolving credit facility , unsecured line of credit and secured financings on investments in real estate debt was approximately $ million below the outstanding principal balance.
Deferred Charges	Deferred Charges The Company’s deferred charges include financing and leasing costs. Deferred financing costs include legal, structuring and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s mortgage notes are recorded as an offset to the related liability and amortized over the term of the applicable financing instruments as interest expense. Deferred financing costs related to the Company’s revolving credit facility and its unsecured Line of Credit (as defined below) are recorded as a component of Other assets on the Company’s Consolidated Balance Sheets and amortized over the term of the applicable financing agreement. Deferred leasing costs incurred in connection with new leases, which consist primarily of brokerage commissions, are recorded as a component of Other assets on the Company’s Consolidated Balance Sheets and amortized over the life of the related lease.
Revenue Recognition	Revenue Recognition The Company commences revenue recognition on its leases based on a number of factors, including the initial determination that the contract is or contains a lease. Generally, all of the Company’s contracts are, or contain leases, and therefore revenue is recognized when the lessee takes possession of or controls the physical use of the leased assets. In most instances this occurs on the lease commencement date. At the inception or acquisition of a lease, including new leases that arise from amendments, the Company assesses the terms and conditions of the lease to determine the proper lease classification. The Company adopted the provisions of Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) and related ASUs subsequently issued (collectively, “ASC 842”) as of January 1, 2019. A lease is classified as an operating lease if none of the following criteria are met: (i) ownership transfers to the lessee at the end of the lease term, (ii) the lessee has a purchase option that is reasonably expected to be exercised, (iii) the lease term is for a major part of the economic life of the leased property, (iv) the present value of the future lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the leased property, and (v) the leased property is of such a specialized nature that it is expected to have no future alternative use to the Company at the end of the lease term. If one or more of these criteria are met, the lease will generally be classified as a sales-type lease, unless the lease contains a residual value guarantee from a third party other than the lessee, in which case it would be classified as a direct financing lease under certain circumstances in accordance with ASC 842. The Company’s rental revenue primarily consists of fixed contractual base rent arising from tenant leases at the Company’s properties under operating leases. Revenue under operating leases that are deemed probable of collection, is recognized as revenue on a straight-line basis over the non-cancelable terms of the related leases. For leases that have fixed and measurable rent escalations, the difference between such rental income earned and the cash rent due under the provisions of the lease is recorded in the Company’s Consolidated Balance Sheets. The Company’s Hospitality revenue consists of room revenue and food and beverage revenue. Room revenue is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered. For leases that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. Certain of the Company’s contracts contain nonlease components (e.g., charges for management fees, common area maintenance, and reimbursement of third-party maintenance expenses) in addition to lease components (i.e., monthly rental charges). Services related to nonlease components are provided over the same period of time as, and billed in the same manner as, monthly rental charges. The Company elected to apply the practical expedient available under ASC 842, for all classes of assets, not to segregate the lease components from the nonlease components when accounting for operating leases. Since the lease component is the predominant component under each of these leases, combined revenues from both the lease and nonlease components are accounted for in accordance with ASC 842 and reported as Rental revenues in the Company’s Consolidated Statements of Operations and Comprehensive Loss. In connection with its investments, the Company has utilized loan programs designed to encourage housing development. The proceeds from these loans are governed by restrictive covenants. For certain housing development loans, so long as the Company remains in compliance with the covenants and program requirements, the loans will be forgiven in equal annual installments until the loans are discharged in full. The Company treats these loans as deferred income and records them as a component of Other liabilities on the Company’s Consolidated Balance Sheets. As of December 31, 2021 and 2020, deferred income related to these loans amounted to $5.0 million and $5.8 million, respectively. As the loan balances are reduced during the compliance period, the Company will record income associated with the discharge of the loans as a component of Other revenue on the Company’s Consolidated Statements of Operations and Comprehensive Loss. For the year ended December 31, 2021 and 2020, Other revenue related to these loans amounted to $0.8 million and $0.8 million, respectively. Other revenues and interest income are recorded on an accrual basis.
Organization and Offering Expenses	Organization and Offering Expenses Organization costs are expensed as incurred and recorded as a component of General and administrative expenses on the Company’s Consolidated Statements of Operations and Comprehensive Loss and offering costs are charged to equity as such amounts are incurred. The Advisor advanced $7.3 million of organization and offering expenses on behalf of the Company (including legal, accounting, and other expenses attributable to the organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through December 21, 2019, the first anniversary of the date on which the proceeds from escrow were released. The Company reimburses the Advisor for all such advanced expenses ratably over a 60 month Starwood Capital, L.L.C. (the “Dealer Manager”), a registered broker-dealer affiliated with the Advisor, serves as the dealer manager for the Offering. The Dealer Manager is entitled to receive selling commissions and dealer manager fees based on the transaction price of each applicable class of shares sold in the primary offering. The Dealer Manager is also entitled to receive a stockholder servicing fee based on the aggregate net asset value (“NAV”) of the Company’s outstanding Class T shares, Class S shares and Class D shares. The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2021: Common Stock Class T Common Stock Class S Common Stock Class D Common Stock Class I Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% — For Class T shares sold in the primary offering, investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction The Dealer Manager is entitled to receive stockholder servicing fees of 0.85% per annum of the aggregate NAV for Class S shares and Class T shares. For Class T shares such stockholder servicing fee includes, an advisor stockholder servicing fee of 0.65% per annum, and a dealer stockholder servicing fee of 0.20% per annum, of the aggregate NAV for the Class T shares, however, with respect to Class T shares sold through certain participating broker-dealers, the advisor stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. For Class D shares the Dealer Manager is entitled to a stockholder servicing fee equal to 0.25% per annum of the aggregate NAV for the Class D shares. There is no stockholder servicing fee with respect to Class I shares. The Dealer Manager has entered into agreements with the selected dealers distributing the Company’s shares in the Offering, which provide, among other things, for the re-allowance of the full amount of the selling commissions and dealer manager fees received and all or a portion of the stockholder servicing fees to such selected dealers. The Company will cease paying the stockholder servicing fee with respect to any Class T share, Class S share or Class D share sold in the primary offering at the end of the month in which the total selling commissions, dealer manager fees and stockholder servicing fees paid with respect to the shares held by such stockholder within such account would exceed 8.75% (or, in the case of Class T shares sold through certain participating broker-dealers, a lower limit as set forth in any applicable agreement between the Dealer Manager and a participating broker-dealer) of the gross proceeds from the sale of such share (including the gross proceeds of any shares issued under the Company’s distribution reinvestment plan with respect thereto). The Company will accrue the full cost of the stockholder servicing fee as an offering cost at the time each Class T, Class S and Class D share is sold during the primary offering. As of December 31, 2021 and 2020, the Company had accrued $291.5 million and $73.2 million, respectively, of stockholder servicing fees related to shares sold and recorded such amount as a component of Due to affiliates on the Company’s Consolidated Balance Sheets.
Income Taxes	Income Taxes The Company elected to be taxed as a REIT under the Internal Revenue Code (the “Code”), for federal income tax purposes, beginning with its taxable year ended December 31, 2019. As long as the Company qualifies for taxation as a REIT, it generally will not be subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. A REIT is subject to a number of organizational and operational requirements, including a requirement that it currently distributes at least 90 % of its REIT taxable income (subject to certain adjustments) to its stockholders. If the Company fails to qualify as a REIT in a taxable year, without the benefit of certain relief provisions, it will be subject to federal and state income tax on its taxable income at regular corporate tax rates. Even if the Company qualifies for taxation as a REIT, it may also be subject to certain federal, state, local and foreign taxes on its income and assets, including (1) taxes on any undistributed income, (2) taxes related to its TRSs and (3) certain state or local income taxes. The Company has formed wholly-owned subsidiaries to function as TRSs and filed TRS elections, together with such subsidiaries, with the Internal Revenue Service. In general, a TRS may perform additional services for the Company’s tenants and generally may engage in any real estate or non-real estate-related business other than management or operation of a lodging facility or a health care facility. The TRSs are subject to taxation at the federal, state, local and foreign levels, as applicable, at the regular corporate tax rates. The Company accounts for applicable income taxes by utilizing the asset and liability method. As such, the Company records deferred tax assets and liabilities for the future tax consequences resulting from the difference between the carrying value of existing assets and liabilities and their respective tax basis. A valuation allowance for deferred tax assets is provided if the Company believes all or some portion of the deferred tax asset may not be realized. For the years ended December 31, 2021 and 2020, the Company recognized an income tax benefit (expense) of $0.7 million and ($1.2) million, respectively, within Other income (expense), net on the Company’s Consolidated Statements of Operations and Comprehensive Loss. As of December 31, 2021 and 2020, the Company recorded a net deferred tax liability of $8.6 million primarily due to assumed capital gains from a triple net lease acquisition and $1.2 million driven by its hospitality investments, respectively, within Other liabilities on the Company’s Consolidated Balance Sheets.
Net Loss per Share	Net Loss per Share Basic net loss per share is computed by dividing net loss attributable to stockholders for the period by the weighted average number of common shares outstanding during the period. All classes of common stock are allocated net loss at the same rate per share and receive the same gross distribution per share. Diluted loss per share is computed by dividing net loss attributable to stockholders for the period by the weighted average number of common shares and common share equivalents outstanding (unless their effect is antidilutive) for the period. There are no common share equivalents outstanding that would have a dilutive effect as a result of the net loss, and accordingly, the weighted average number of common shares outstanding is identical for both basic and diluted shares for the years ended December 31, 2021 and 2020. The restricted stock grants of Class I shares held by the Company’s independent directors are not considered to be participating securities because they do not contain non-forfeitable rights to distributions. As a result, there is no impact of these restricted stock grants on basic and diluted net loss per common share until the restricted stock grants have fully vested.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Topic 740, Income Taxes In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Estimated Useful Life of Assets	The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows: Description Depreciable Life Building 30 - 42 years Building and land improvements 5 - 30 years Furniture, fixtures and equipment 1 - 10 years Lease intangibles and leasehold improvements Shorter of useful life or lease term
Summary of Assets And Liabilities Measured At Fair Value On Recurring Basis	The following table details the Company’s assets and liabilities measured at fair value on a recurring basis ($ in thousands): December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investments in real estate debt $ — $ 466,475 $ 487,602 $ 954,077 $ — $ 218,225 $ — $ 218,225 Equity securities 172,236 — — 172,236 — — — — Derivatives — 194,053 — 194,053 — 1,410 — 1,410 Total $ 172,236 $ 660,528 $ 487,602 $ 1,320,366 $ — $ 219,635 $ — $ 219,635 Liabilities: Derivatives $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167 Total $ — $ 1,398 $ — $ 1,398 $ — $ 5,167 $ — $ 5,167
Summary of Assets Measured At Fair Value On Recurring Basis	The following table details the Company’s assets measured at fair value on a recurring basis using Level 3 inputs ($ in thousands): Investments in Real Estate Debt Balance as of December 31, 2020 $ — Purchases 504,540 Included in net loss Foreign exchange (16,938 ) Unrealized gain (loss) — Balance as of December 31, 2021 $ 487,602
Summary of Quantitative Inputs and Assumptions Used for Items Categorized in Level 3 of Fair Value	The following table contains the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy ($ in thousands): December 31, 2021 Fair Value Valuation Technique Unobservable Inputs Weighted Average Impact to Valuation from an Increase in Input Investments in Real Estate Debt $ 487,602 Transacted value Cost N/A N/A
Schedule of Selling Commissions, Dealer Manager Fees And Stockholder Servicing	The following table details the selling commissions, dealer manager fees, and stockholder servicing fees for each applicable share class as of December 31, 2021: Common Stock Class T Common Stock Class S Common Stock Class D Common Stock Class I Selling commissions and dealer manager fees (% of transaction price) up to 3.5% up to 3.5% up to 1.5% — Stockholder servicing fee (% of NAV) 0.85% 0.85% 0.25% —

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Schedule of Investments in Real Estate, Net	Investments in real estate, net consisted of the following ($ in thousands): December 31, 2021 December 31, 2020 Building and building improvements $ 14,450,074 $ 3,860,297 Land and land improvements 2,733,505 689,107 Furniture, fixtures and equipment 264,557 76,808 Right of use asset - operating lease (1) 105,236 101,382 Total 17,553,372 4,727,594 Accumulated depreciation and amortization (368,293 ) (130,540 ) Investments in real estate, net $ 17,185,079 $ 4,597,054 (1) Refer to Note 13 for additional details on the Company’s leases.
Schedule of Details of Properties Acquired	The following table provides details of the properties acquired during the year ended December 31, 2021 ($ in thousands): Segments Number of Transactions Number of Properties Sq. Ft. (in millions)/Units Purchase Price (1) Multifamily properties 15 151 37,779 units $ 9,342,279 Single-Family Rental properties 2 N/A (2) 2,595 units 1,128,276 Industrial properties 5 60 10.38 sq. ft. 1,560,968 Office properties 2 5 0.70 sq. ft. 370,846 Self-Storage properties 1 25 13,554 units 322,228 Other properties 3 3 0.75 sq. ft. 315,368 28 244 $ 13,039,965 (1) Purchase price is inclusive of acquisition-related costs. (2) Includes a 100% interest in 2,303 single-family rental units and a 95% interest in 292 consolidated single-family rental units. The following table provides details of the properties acquired during the year ended December 31, 2020 ($ in thousands): Segments Number of Transactions Number of Properties Sq. Ft. (in millions)/Units Purchase Price (1) Multifamily properties 7 60 10,785 units $ 1,710,631 Industrial properties 2 10 1.73 sq. ft. 229,606 Office properties 2 2 1.27 sq. ft. 878,456 Medical Office properties 1 1 0.29 sq. ft. 162,212 12 73 $ 2,980,905 (1) Purchase price is inclusive of acquisition-related costs.
Schedule of Purchase Price Allocation of Properties	The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2021 ($ in thousands): Amount Building and building improvements $ 10,463,106 Land and land improvements 2,039,052 Furniture, fixtures and equipment 186,882 In-place lease intangibles 256,466 Above-market lease intangibles 15,007 Below-market lease intangibles (28,898 ) Above-market ground lease intangibles (2,292 ) Other intangibles 12,376 Total purchase price (1) $ 12,941,699 Assumed mortgage notes (156,515 ) Non-controlling interest (28,158 ) Net purchase price $ 12,757,026 (1) Purchase price does not include acquisition-related costs of $98.3 million. The following table summarizes the purchase price allocation for the properties acquired during the year ended December 31, 2020 ($ in thousands): Amount Building and building improvements $ 2,391,061 Land and land improvements 342,256 Furniture, fixtures and equipment 28,030 Below-market ground lease (1) 95,201 In-place lease intangibles 114,399 Above-market lease intangibles 16,689 Below-market lease intangibles (29,197 ) Total purchase price (2) $ 2,958,439 Non-controlling interest (1,178 ) Net purchase price $ 2,957,261 (1) The below-market ground lease value was recorded as a component of the Right of use asset – operating leases on the Company’s Consolidated Balance Sheet. (2) Purchase price does not include acquisition related costs of $22.5 million.

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities	The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands): December 31, 2021 December 31, 2020 Intangible assets: (1) In-place lease intangibles $ 448,447 $ 194,003 Above-market lease intangibles 36,696 22,132 Other 43,653 31,019 Total intangible assets 528,796 247,154 Accumulated amortization: In-place lease amortization (144,663 ) (60,142 ) Above-market lease amortization (7,718 ) (3,506 ) Other (7,300 ) (3,650 ) Total accumulated amortization (159,681 ) (67,298 ) Intangible assets, net $ 369,115 $ 179,856 Intangible liabilities: (2) Below-market lease intangibles $ 65,143 $ 36,190 Total intangible liabilities 65,143 36,190 Accumulated amortization: Below-market lease amortization (9,523 ) (3,534 ) Total accumulated amortization (9,523 ) (3,534 ) Intangible liabilities, net $ 55,620 $ 32,656 (1) (2)
Summary of Estimated Future Amortization on Intangibles	The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of December 31, 2021 is as follows ($ in thousands): In-place Lease Intangibles Above-market Lease Intangibles Other Below-market Lease Intangibles 2022 $ 130,518 $ 5,496 $ 5,698 $ (8,445 ) 2023 42,503 4,996 5,613 (7,873 ) 2024 29,420 3,832 5,599 (6,180 ) 2025 22,511 3,191 5,192 (4,816 ) 2026 15,405 2,661 2,507 (4,645 ) Thereafter 63,427 8,802 11,744 (23,661 ) $ 303,784 $ 28,978 $ 36,353 $ (55,620 )

Investments in Real Estate De_2

Investments in Real Estate Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule Of Investments [Abstract]
Summary of Investments in Real Estate Debt	The following tables detail the Company’s investments in real estate debt as of December 31, 2021 and 2020 ($ in thousands): December 31, 2021 Type of Security/Loan Number of Positions Weighted Average Coupon Weighted Average Maturity Date (1) Cost Basis Fair Value RMBS 50 3.07% July 9, 2045 $ 165,600 $ 168,309 CMBS - floating 4 L + 3.46% July 15, 2038 296,928 295,465 CMBS - fixed 1 6.26% July 25, 2039 2,522 2,701 Total real estate debt securities 55 3.34% January 5, 2041 465,050 466,475 Term loan (2) 1 L + 5.35% February 26, 2026 504,540 487,602 Total investments in real estate debt 56 4.41% April 8, 2033 $ 969,590 $ 954,077 December 31, 2020 Type of Security Number of Positions Weighted Average Coupon Weighted Average Maturity Date (1) Cost Basis Fair Value RMBS 55 3.22% March 22, 2047 $ 213,863 $ 215,358 CMBS 1 6.26% July 25, 2039 3,066 2,867 Total investments in real estate debt 56 $ 216,929 $ 218,225 (1) Weighted average maturity date is based on the fully extended maturity date of the underlying collateral. (2) On February 26, 2021, the Company provided financing in the form of a term loan to an unaffiliated entity in connection with its acquisition of a premier United Kingdom holiday company. The loan is in the amount of £360 million and has an initial term of five years, with a two-year extension option. The Company’s investments in real estate debt include CBMS collateralized by properties owned by Starwood-advised investment vehicles. The following table details the Company’s affiliate investments in real estate debt ($ in thousands): Fair Value December 31, 2021 December 31, 2020 CMBS $ 295,465 $ — Total $ 295,465 $ —

Mortgage Notes and Revolving _2

Mortgage Notes and Revolving Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Mortgage Notes and Revolving Credit Facility Secured by Company's Properties	The following table is a summary of the mortgage notes and revolving credit facility secured by the Company’s properties as of December 31, 2021 and 2020 ($ in thousands): Principal Balance Outstanding (4) Indebtedness Weighted Average Interest Rate (1) (2) Weighted Average Maturity Date (3) Maximum Facility Size December 31, 2021 December 31, 2020 Fixed rate loans Fixed rate mortgages 2.99% 9/19/2030 N/A $ 3,110,689 $ 2,236,290 Total fixed rate loans 3,110,689 2,236,290 Variable rate loans Floating rate mortgages L + 1.76% 2/23/2024 N/A 7,052,819 886,594 Variable rate revolving credit facility (5) S + 1.85% 12/1/2023 $ 1,200,000 1,190,683 172,800 Total variable rate loans 8,243,502 1,059,394 Total loans secured by the Company's properties 11,354,191 3,295,684 Deferred financing costs, net (80,410 ) (17,208 ) Premium on assumed debt, net 630 286 Mortgage notes and revolving credit facility, net $ 11,274,411 $ 3,278,762 (1) ( 2 ) ( 3 ) For loans where the Company, at its own discretion, has extension options, the maximum maturity date has been assumed. ( 4 ) T he majority of the Company’s mortgages contain yield or spread maintenance provisions. ( 5 ) The Company’s revolving credit facility can be drawn upon to fund the acquisition of future real estate investments. During December 2021, the Company extended this facility to December 1, 2023. The repayment of the revolving credit facility is guaranteed by the Operating Partnership.
Summary of Future Principal Payment Under Company's Mortgage Notes and Revolving Credit Facility	The following table presents the future principal payments under the Company’s mortgage notes and revolving credit facility as of December 31, 2021 ($ in thousands): Year Amount 2022 $ 711,321 2023 6,018,446 2024 529,254 2025 718,822 2026 212,048 Thereafter 3,164,300 Total $ 11,354,191

Secured Financings On Investm_2

Secured Financings On Investments In Real Estate Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Secured Financings On Investments In Real Estate Debt [Abstract]
Schedule of Secured Financings on Investments in Real Estate Debt Transactions	For financial statement purposes, the Company does not offset its secured financings on investments in real estate debt and securities lending transactions because the conditions for netting as specified by GAAP are not met. Although not offset on the Company’s Consolidated Balance Sheets, these transactions are summarized in the following tables ($ in thousands): December 31, 2021 Indebtedness Maturity Date Coupon Collateral Assets (1) Outstanding Balance Barclays RA 2/26/2026 L + 2.50% $ 487,602 $ 268,181 $ 487,602 $ 268,181 December 31, 2020 Indebtedness Weighted Average Maturity Date Weighted Average Coupon Collateral Assets (1) Outstanding Balance RMBS 3/17/2021 1.93% $ 155,538 $ 105,804 CMBS 1/6/2021 2.10% 2,867 2,450 $ 158,405 $ 108,254 ( 1)

Other Assets and Other Liabil_2

Other Assets and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Other Assets And Other Liabilities [Abstract]
Schedule of Components of Other Assets	The following table summarizes the components of Other assets ($ in thousands): December 31, 2021 December 31, 2020 Intangible assets, net $ 369,115 $ 179,856 Derivative instruments 194,053 1,410 Equity securities 172,236 — Receivables 103,049 23,692 Prepaid expenses 15,871 4,047 Acquisition deposits 13,422 7 Deferred financing costs, net 6,723 1,268 Interest receivable 5,337 548 Other 1,492 307 Total $ 881,298 $ 211,135
Schedule of Components of Other Liabilities	The following table summarizes the components of Other liabilities ($ in thousands): December 31, 2021 December 31, 2020 Accounts payable and accrued expenses $ 89,625 $ 19,651 Intangible liabilities, net 55,620 32,656 Real estate taxes payable 53,423 14,842 Tenant security deposits 36,509 9,842 Distributions payable 32,696 8,682 Accrued interest expense 16,399 7,309 Right of use liability - operating leases 12,499 6,390 Deferred tax liability 8,599 1,229 Deferred income 7,467 11,111 Derivative instruments 1,398 5,167 Other 25,271 193 Total $ 339,506 $ 117,072

Equity and Redeemable Non-con_2

Equity and Redeemable Non-controlling Interest (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Company's Authorized Capital	As of December 31, 2021, the Company had the authority to issue 3,100,000,000 shares of capital stock, consisting of the following: Classification Number of Shares Par Value Preferred Stock 100,000,000 $ 0.01 Class T Shares 500,000,000 $ 0.01 Class S Shares 1,000,000,000 $ 0.01 Class D Shares 500,000,000 $ 0.01 Class I Shares 1,000,000,000 $ 0.01 Total 3,100,000,000
Schedule of Common Stock Outstanding shares	The following table details the movement in the Company’s outstanding shares of common stock: Class T Class S Class D Class I Total January 1, 2019 483 6,610,280 46,075 1,542,000 8,198,838 Common stock shares issued 1,401,818 19,176,803 1,584,566 14,448,819 36,612,006 Distribution reinvestment plan shares issued 10,262 383,218 22,453 122,455 538,388 Common stock shares repurchased — (5,507 ) — (4,843 ) (10,350 ) Independent directors' restricted stock grant (1) — — — 5,853 5,853 December 31, 2019 1,412,563 26,164,794 1,653,094 16,114,284 45,344,735 Common stock shares issued 1,137,269 20,138,235 1,190,809 23,197,333 45,663,646 Distribution reinvestment plan shares issued 56,484 1,188,342 87,505 611,538 1,943,869 Common stock shares repurchased (143,134 ) (1,059,710 ) (84,311 ) (774,476 ) (2,061,631 ) Independent directors' restricted stock grant (1) — — — 4,234 4,234 December 31, 2020 2,463,182 46,431,661 2,847,097 39,152,913 90,894,853 Common stock shares issued 2,157,634 107,086,220 19,108,491 124,387,317 252,739,662 Distribution reinvestment plan shares issued 86,892 2,130,886 244,060 1,520,206 3,982,044 Common stock shares repurchased (59,272 ) (1,267,731 ) (57,349 ) (1,450,765 ) (2,835,117 ) Independent directors' restricted stock grant (1) — — — 14,829 14,829 December 31, 2021 4,648,436 154,381,036 22,142,299 163,624,500 344,796,271 __________ (1) The independent directors’ restricted stock grant represents an aggregate $0.3 million, $0.1 million and $0.1 million of the annual compensation paid to the independent directors for the years ended December 31, 2021 and 2020 and 2019, respectively. Each grant is amortized over the one-year
Schedule of Aggregate Distributions Declared for Each Class of Common Stock	The following table details the aggregate distributions declared for each applicable class of common stock: Year Ended December 31, 2021 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.2420 $ 1.2420 $ 1.2420 $ 1.2420 Stockholder servicing fee per share of common stock (0.1949 ) (0.1955 ) (0.0571 ) — Net distributions declared per share of common stock $ 1.0471 $ 1.0465 $ 1.1849 $ 1.2420 Year Ended December 31, 2020 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.2420 $ 1.2420 $ 1.2420 $ 1.2420 Stockholder servicing fee per share of common stock (0.1808 ) (0.1821 ) (0.0533 ) — Net distributions declared per share of common stock $ 1.0612 $ 1.0599 $ 1.1887 $ 1.2420 Year Ended December 31, 2019 Class T Class S Class D Class I Aggregate gross distributions declared per share of common stock $ 1.0905 $ 1.0905 $ 1.0905 $ 1.0905 Stockholder servicing fee per share of common stock (0.1608 ) (0.1787 ) (0.0503 ) — Net distributions declared per share of common stock $ 0.9297 $ 0.9118 $ 1.0402 $ 1.0905
Schedule of Redeemable Noncontrolling Interest Activity	The following table summarizes the Redeemable non-controlling interest activity for the year ended December 31, 2021 and 2020 ($ in thousands): December 31, 2021 December 31, 2020 Balance at the beginning of the year $ 10,409 $ — Settlement of performance participation allocation 15,061 10,366 GAAP income allocation (1,758 ) (642 ) Distributions (1,460 ) (597 ) Fair value allocation 8,250 1,282 Ending balance $ 30,502 $ 10,409

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Summary of Components of Due to Affiliates	The following table details the components of Due to affiliates ($ in thousands): December 31, 2021 December 31, 2020 Accrued stockholder servicing fee $ 291,544 $ 73,170 Performance participation allocation 204,225 15,061 Advanced organization and offering costs 4,373 5,830 Accrued management fee 9,628 2,103 Accrued affiliate service provider expenses 843 — Advanced operating expenses 2,655 207 Total $ 513,268 $ 96,371

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Future Lease Payments	The following table presents the future lease payments due under the Company’s ground leases as of December 31, 2021 ($ in thousands): Year Operating Lease 2022 $ 686 2023 686 2024 686 2025 712 2026 713 Thereafter 26,497 Total undiscounted future lease payments 29,980 Difference between undiscounted cash flows and discounted cash flows (17,481 ) Total lease liability $ 12,499
Summary of Fixed and Variable Components of Operating Leases	The following table summarizes the fixed and variable components of the Company’s operating leases ($ in thousands): For the Year Ended December 31, 2021 2020 2019 Fixed lease payments $ 530,093 $ 238,897 $ 46,908 Variable lease payments 74,481 34,950 4,882 Rental revenue $ 604,574 $ 273,847 $ 51,790
Schedule of Undiscounted Future Minimum Rents Income Receivables	The following table presents the undiscounted future minimum rents the Company expects to receive for its industrial, office, medical office and other properties as of December 31, 2021 ($ in thousands). Leases at the Company’s multifamily, single-family and self-storage properties are short term, generally 12 months or less, and are therefore not included. Year Future Minimum Rents 2022 $ 229,976 2023 218,831 2024 195,541 2025 169,574 2026 147,597 Thereafter 525,167 Total $ 1,486,686

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Summary of Total Assets by Segment	The following table sets forth the total assets by segment ($ in thousands): December 31, 2021 December 31, 2020 Multifamily properties $ 12,225,256 $ 2,738,210 Single-Family Rental properties 1,150,987 — Hospitality properties 240,326 244,065 Industrial properties 2,145,163 551,898 Office properties 1,599,774 1,186,328 Self-Storage properties 331,024 — Medical office properties 191,881 196,559 Other properties 332,507 — Investments in real estate debt 954,077 218,225 Other (Corporate) 800,436 195,531 Total assets $ 19,971,431 $ 5,330,816
Summary of Financial Results by Segment	The following table sets forth the financial results by segment for the year ended December 31, 2021 ($ in thousands): Multifamily Single- Family Rental Hospitality Industrial Office Self- Storage Medical Office Other Investments in Real Estate Debt Total Revenues: Rental revenue $ 365,052 $ 1,158 $ — $ 96,826 $ 124,317 $ 741 $ 14,656 $ 1,824 $ — $ 604,574 Hospitality revenue — — 33,301 — — — — — — 33,301 Other revenue 4,310 — 348 — 331 — 41 — — 5,030 Total revenues 369,362 1,158 33,649 96,826 124,648 741 14,697 1,824 — 642,905 Expenses: Rental property operating 151,923 274 — 25,258 43,741 287 6,225 241 — 227,949 Hospitality operating — — 20,702 — — — — — — 20,702 Total segment expenses 151,923 274 20,702 25,258 43,741 287 6,225 241 — 248,651 Income from investments in real estate debt — — — — — — — — 45,156 45,156 Loss from unconsolidated real estate ventures — — (615 ) — — — — — — (615 ) Segment net operating income $ 217,439 $ 884 $ 12,332 $ 71,568 $ 80,907 $ 454 $ 8,472 $ 1,583 $ 45,156 $ 438,795 Depreciation and amortization $ (189,084 ) $ (2,311 ) $ (8,543 ) $ (58,002 ) $ (61,953 ) $ (429 ) $ (8,437 ) $ (1,696 ) $ — $ (330,455 ) General and administrative (25,404 ) Management fees (62,237 ) Performance participation allocation (204,225 ) Interest expense (124,091 ) Other income, net 3,174 Net loss $ (304,443 ) Net loss attributable to non-controlling interests in consolidated joint ventures 434 Net loss attributable to non-controlling interests in Operating Partnership 1,758 Net loss attributable to stockholders $ (302,251 ) The following table sets forth the financial results by segment for the year ended December 31, 2020 ($ in thousands): Multifamily Hospitality Industrial Office Medical Office Investments in Real Estate Debt Total Revenues: Rental revenue $ 132,835 $ — $ 30,203 $ 97,078 $ 13,731 $ — $ 273,847 Hospitality revenue — 22,200 — — — — 22,200 Other revenue 2,045 146 — 145 40 — 2,376 Total revenues 134,880 22,346 30,203 97,223 13,771 — 298,423 Expenses: Rental property operating 51,878 — 7,261 32,895 4,908 — 96,942 Hospitality operating — 16,242 — — — — 16,242 Total segment expenses 51,878 16,242 7,261 32,895 4,908 — 113,184 Income from investments in real estate debt — — — — — 7,206 7,206 Loss from unconsolidated real estate ventures — (1,462 ) — — — — (1,462 ) Segment net operating income $ 83,002 $ 4,642 $ 22,942 $ 64,328 $ 8,863 $ 7,206 $ 190,983 Depreciation and amortization $ (73,365 ) $ (8,403 ) $ (18,323 ) $ (48,477 ) $ (7,296 ) $ — $ (155,864 ) General and administrative (8,624 ) Management fees (19,423 ) Performance participation allocation (15,061 ) Interest expense (88,918 ) Other expense, net (1,293 ) Net loss $ (98,200 ) Net loss attributable to non- controlling interests in consolidated joint ventures 1,300 Net loss attributable to non- controlling interests in Operating Partnership 642 Net loss attributable to stockholders $ (96,258 ) The following table sets forth the financial results by segment for the year ended December 31, 2019 ($ in thousands): Multifamily Hotel Industrial Office Medical Office Investments in Real Estate Debt Total Revenues: Rental revenue $ 29,768 $ — $ 2,489 $ 19,022 $ 511 $ — $ 51,790 Hospitality revenue — 40,559 — — — — 40,559 Other revenue 1,669 259 — 31 — — 1,959 Total revenues 31,437 40,818 2,489 19,053 511 — 94,308 Expenses: Rental property operating 11,396 — 583 6,388 96 — 18,463 Hospitality operating — 23,507 — — — — 23,507 Total segment expenses 11,396 23,507 583 6,388 96 — 41,970 Income from investments in real estate debt — — — — — 10,158 10,158 Earnings from unconsolidated real estate ventures — 175 — — — — 175 Segment net operating income $ 20,041 $ 17,486 $ 1,906 $ 12,665 $ 415 $ 10,158 $ 62,671 Depreciation and amortization $ (17,520 ) $ (8,239 ) $ (1,570 ) $ (11,312 ) $ (255 ) $ — $ (38,896 ) General and administrative (4,523 ) Management fees (5,469 ) Performance participation allocation (10,366 ) Interest expense (25,311 ) Other expense net 916 Net loss $ (20,978 ) Net loss attributable to non- controlling interests in consolidated joint ventures 152 Net loss attributable to stockholders $ (20,826 )

Organization and Business Pur_2

Organization and Business Purpose - Additional Information (Details)	Jun. 02, 2021USD ($)	Dec. 31, 2021USD ($)PropertyPositionSegment	Dec. 31, 2020Position	Dec. 27, 2017USD ($)
Organization And Business Activities [Line Items]
Number of real estate related securities position | Position		56	56
Number of reportable segments | Segment		9
Common stock reallocated value from distribution reinvestment plan to primary offering	$ 1,700,000,000
Proceeds ,issuance of shares of common stock		$ 7,600,000,000
Primary Offering
Organization And Business Activities [Line Items]
Common stock, shares registered, amount	10,000,000,000			$ 5,000,000,000
Common stock, shares authorized, amount	8,000,000,000
Common stock reallocated value	9,700,000,000
Distribution Reinvestment Plan
Organization And Business Activities [Line Items]
Common stock, shares authorized, amount	2,000,000,000
Common stock reallocated value	$ 300,000,000
Real Estate Properties
Organization And Business Activities [Line Items]
Number of properties owned | Property		388
Single Family Rental Homes
Organization And Business Activities [Line Items]
Number of properties owned | Property		2,595

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Estimated Useful Life of Assets (Details)	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Lease intangibles and leasehold improvements	Shorter of useful life or lease term
Building | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	30 years
Building | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	42 years
Building and Land Improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	5 years
Building and Land Improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	30 years
Furniture, Fixtures and Equipment | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	1 year
Furniture, Fixtures and Equipment | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Derivative	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021DKK (kr)Derivative	Dec. 31, 2021EUR (€)Derivative	Dec. 31, 2021GBP (£)Derivative
Significant Accounting Policies [Line Items]
Foreign currency translation and transaction gains or (losses)	$ (15,100)	$ 0	$ 0
Secured financings on investments in real estate debt of fair value below outstanding principal balance	26,400
Deferred income	7,467	11,111
Due to affiliates	$ 513,268	96,371
Minimum REIT distribution percentage	90.00%			90.00%	90.00%	90.00%
Income tax benefit (expense)	$ 700	1,200
ASU 2019-12
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true			true	true	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2021			Jan. 1, 2021	Jan. 1, 2021	Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect	true			true	true	true
Triple Net Sale and Leaseback Property
Significant Accounting Policies [Line Items]
Deferred tax liability, net	$ 8,600
Hospitality Investments
Significant Accounting Policies [Line Items]
Deferred tax liability, net		1,200
Class S Shares
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage	0.85%			0.85%	0.85%	0.85%
Class S Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions and dealer manager fee percentage	3.50%			3.50%	3.50%	3.50%
Class T Shares
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage	0.85%			0.85%	0.85%	0.85%
Class T Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions and dealer manager fee percentage	3.50%			3.50%	3.50%	3.50%
Class D Shares
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage	0.25%			0.25%	0.25%	0.25%
Class D Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions and dealer manager fee percentage	1.50%			1.50%	1.50%	1.50%
Advanced Organization And Offering Costs
Significant Accounting Policies [Line Items]
Due to affiliates	$ 4,373	5,830
Accrued Stockholder Servicing Fee
Significant Accounting Policies [Line Items]
Due to affiliates	291,544	73,170
Accrued Stockholder Servicing Fee | Common Stock Class T, Class S and Class D
Significant Accounting Policies [Line Items]
Due to affiliates	$ 291,500	$ 73,200
Advisor
Significant Accounting Policies [Line Items]
Period to reimburse the advisor for all organization and offering expenses	60 months	60 months
Advisor | Class T Shares
Significant Accounting Policies [Line Items]
Advisor Percentage of stockholder servicing fee on NAV per annum	0.65%
Advisor | Advanced Organization And Offering Costs
Significant Accounting Policies [Line Items]
Due to affiliates			$ 7,300
Advisor | Advanced Organization And Offering Costs | Primary Offering
Significant Accounting Policies [Line Items]
Due to affiliates	$ 7,300
Dealer Manager | Class S Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions percentage	3.50%			3.50%	3.50%	3.50%
Dealer Manager | Class T Shares
Significant Accounting Policies [Line Items]
Upfront dealer manager fee percentage	0.50%			0.50%	0.50%	0.50%
Dealer stockholder servicing fee percentage	0.20%
Annual stockholder servicing fee percentage	0.85%			0.85%	0.85%	0.85%
Dealer Manager | Class T Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions percentage	3.00%			3.00%	3.00%	3.00%
Upfront selling commissions and dealer manager fee percentage	3.50%			3.50%	3.50%	3.50%
Dealer Manager | Class D Shares
Significant Accounting Policies [Line Items]
Upfront dealer manager fee percentage	0.00%			0.00%	0.00%	0.00%
Annual stockholder servicing fee percentage	0.25%			0.25%	0.25%	0.25%
Dealer Manager | Class D Shares | Maximum
Significant Accounting Policies [Line Items]
Upfront selling commissions percentage	1.50%			1.50%	1.50%	1.50%
Dealer Manager | Class S Share And T Shares [Member]
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage	0.85%			0.85%	0.85%	0.85%
Dealer Manager | Class I Shares (Member)
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage	0.00%			0.00%	0.00%	0.00%
Dealer Manager | Common Stock Class T, Class S and Class D
Significant Accounting Policies [Line Items]
Annual stockholder servicing fee percentage of gross proceeds limit	8.75%			8.75%	8.75%	8.75%
Accounts Payable, Accrued Expenses and Other Liabilities
Significant Accounting Policies [Line Items]
Deferred income	$ 5,000	$ 5,800
Currency Swap
Significant Accounting Policies [Line Items]
Derivative, number of instruments held				6	5	2
Derivative, aggregate notional value				kr 290,000,000	€ 232,000,000	£ 166,000,000
Interest Rate Cap
Significant Accounting Policies [Line Items]
Derivative, number of instruments held	19			19	19	19
Derivative, aggregate notional value	$ 6,300,000				€ 88,000,000
Interest Rate Cap | Danish Investment
Significant Accounting Policies [Line Items]
Derivative, number of instruments held | kr				1
Derivative, aggregate notional value | kr				kr 301,500,000
Interest Rate Swap
Significant Accounting Policies [Line Items]
Derivative, number of instruments held | Derivative	2			2	2	2
Derivative, aggregate notional value	$ 256,800
Interest Rate Derivatives
Significant Accounting Policies [Line Items]
Unrealized gains on derivatives	22,800
Other Income (Expense)
Significant Accounting Policies [Line Items]
Unrealized losses on investments	(2,800)
Other Revenue
Significant Accounting Policies [Line Items]
Other income	$ 800	$ 800

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Assets And Liabilities Measured At Fair Value On Recurring Basis (Details) - Fair Value, Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	$ 1,320,366	$ 219,635
Liabilities	1,398	5,167
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	172,236
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	660,528	219,635
Liabilities	1,398	5,167
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	487,602
Investments in Real Estate Debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	954,077	218,225
Investments in Real Estate Debt | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	466,475	218,225
Investments in Real Estate Debt | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	487,602
Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	172,236
Equity Securities | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	172,236
Derivatives
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	194,053	1,410
Liabilities	1,398	5,167
Derivatives | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets	194,053	1,410
Liabilities	$ 1,398	$ 5,167

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Summary of Assets Measured At Fair Value On Recurring Basis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance as of December 31, 2020	$ 218,225
Included in net loss
Balance as of December 31, 2021	954,077
Fair Value, Recurring Basis | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Purchases	504,540
Included in net loss
Foreign exchange	(16,938)
Balance as of December 31, 2021	$ 487,602

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Summary of Quantitative Inputs and Assumptions Used for Items Categorized in Level 3 of Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	$ 954,077	$ 218,225
Unobservable Inputs	969,590	$ 216,929
Fair Value, Recurring Basis | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	$ 487,602

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Selling Commissions, Dealer Manager Fees And Stockholder Servicing (Details)	Dec. 31, 2021
Class T Shares
Significant Accounting Policies [Line Items]
Stockholder servicing fee (% of NAV)	0.85%
Class T Shares | Maximum
Significant Accounting Policies [Line Items]
Selling commissions and dealer manager fees (% of transaction price)	3.50%
Class S Shares
Significant Accounting Policies [Line Items]
Stockholder servicing fee (% of NAV)	0.85%
Class S Shares | Maximum
Significant Accounting Policies [Line Items]
Selling commissions and dealer manager fees (% of transaction price)	3.50%
Class D Shares
Significant Accounting Policies [Line Items]
Stockholder servicing fee (% of NAV)	0.25%
Class D Shares | Maximum
Significant Accounting Policies [Line Items]
Selling commissions and dealer manager fees (% of transaction price)	1.50%

Investments - Schedule of Inves

Investments - Schedule of Investments in Real Estate, Net (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Real Estate Investment Property Net [Abstract]
Building and building improvements		$ 14,450,074	$ 3,860,297
Land and land improvements		2,733,505	689,107
Furniture, fixtures and equipment		264,557	76,808
Right of use asset - operating lease	[1]	$ 105,236	$ 101,382
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other assets	Other assets
Total		$ 17,553,372	$ 4,727,594
Accumulated depreciation and amortization		(368,293)	(130,540)
Investments in real estate, net		$ 17,185,079	$ 4,597,054
[1]	Refer to Note 13 for additional details on the Company’s leases.

Investments - Additional Inform

Investments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Property	Dec. 31, 2020USD ($)Property
Real Estate Properties [Line Items]
Number of acquired real estate properties	244	73
Percentage of ownership interest in joint venture	43.00%
Investment in joint venture | $	$ 10,422	$ 10,991
Income Loss From Unconsolidated Real Estate Ventures | $	$ (600)	$ (1,500)
In-place Lease Intangibles
Real Estate Properties [Line Items]
Weighted-average amortization period	4 years	6 years
Above Market Leases Intangibles
Real Estate Properties [Line Items]
Weighted-average amortization period	8 years	7 years
Below Market Leases Intangibles
Real Estate Properties [Line Items]
Weighted-average amortization period	9 years	8 years
Below Market Ground Leases
Real Estate Properties [Line Items]
Weighted-average amortization period	32 years	47 years
Multifamily
Real Estate Properties [Line Items]
Number of acquired real estate properties	151	60
Industrial Assets
Real Estate Properties [Line Items]
Number of acquired real estate properties	60	10
Self-Storage Properties
Real Estate Properties [Line Items]
Number of acquired real estate properties	25
Office Buildings
Real Estate Properties [Line Items]
Number of acquired real estate properties	5	2
Medical Office Building
Real Estate Properties [Line Items]
Number of acquired real estate properties		1
Other Property
Real Estate Properties [Line Items]
Number of acquired real estate properties	3
Single-Family Rental Units
Real Estate Properties [Line Items]
Number of acquired real estate properties	2,595

Investments - Schedule of Detai

Investments - Schedule of Details of Properties Acquired (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)ft²PropertyTransactionUnit	Dec. 31, 2020USD ($)ft²PropertyTransactionUnit
Real Estate Properties [Line Items]
Number of Transactions | Transaction		28	12
Number of Properties | Property		244	73
Purchase Price | $	[1]	$ 13,039,965	$ 2,980,905
Multifamily
Real Estate Properties [Line Items]
Number of Transactions | Transaction		15	7
Number of Properties | Property		151	60
Sq. Ft. (in millions)/Units | Unit		37,779	10,785
Purchase Price | $	[1]	$ 9,342,279	$ 1,710,631
Single-Family Rental Units
Real Estate Properties [Line Items]
Number of Transactions | Transaction		2
Sq. Ft. (in millions)/Units | Unit		2,595
Purchase Price | $	[1]	$ 1,128,276
Industrial Assets
Real Estate Properties [Line Items]
Number of Transactions | Transaction		5	2
Number of Properties | Property		60	10
Purchase Price | $	[1]	$ 1,560,968	$ 229,606
Sq. Ft. (in millions)/Units | ft²		10,380,000	1,730,000
Office Buildings
Real Estate Properties [Line Items]
Number of Transactions | Transaction		2	2
Number of Properties | Property		5	2
Purchase Price | $	[1]	$ 370,846	$ 878,456
Sq. Ft. (in millions)/Units | ft²		700,000	1,270,000
Self-Storage Properties
Real Estate Properties [Line Items]
Number of Transactions | Transaction		1
Number of Properties | Property		25
Sq. Ft. (in millions)/Units | Unit		13,554
Purchase Price | $	[1]	$ 322,228
Other Property
Real Estate Properties [Line Items]
Number of Transactions | Transaction		3
Number of Properties | Property		3
Purchase Price | $	[1]	$ 315,368
Sq. Ft. (in millions)/Units | ft²		750,000
Medical Office Building
Real Estate Properties [Line Items]
Number of Transactions | Transaction			1
Number of Properties | Property			1
Purchase Price | $	[1]		$ 162,212
Sq. Ft. (in millions)/Units | ft²			290,000
[1]	Purchase price is inclusive of acquisition-related costs.

Investments - Schedule of Det_2

Investments - Schedule of Details of Properties Acquired (Details) (Parenthetical) - Property	Dec. 31, 2021	Dec. 31, 2020
Real Estate Properties [Line Items]
Number of acquired real estate properties	244	73
Single-Family Rental Units
Real Estate Properties [Line Items]
Number of acquired real estate properties	2,595
Single-Family Rental Units | 100% Interest
Real Estate Properties [Line Items]
Number of acquired real estate properties	2,303
Single-Family Rental Units | 95% Interest
Real Estate Properties [Line Items]
Number of acquired real estate properties	292

Investments - Schedule of Purch

Investments - Schedule of Purchase Price Allocation of Properties (Details) - USD ($) $ in Thousands		Dec. 31, 2021		Dec. 31, 2020
Real Estate Investment Property Net [Abstract]
Building and building improvements		$ 10,463,106		$ 2,391,061
Land and land improvements		2,039,052		342,256
Furniture, fixtures and equipment		186,882		28,030
Below-market ground lease	[1]			95,201
In-place lease intangibles		256,466		114,399
Above-market lease intangibles		15,007		16,689
Below-market lease intangibles		(28,898)		(29,197)
Above-market ground lease intangibles		(2,292)
Other intangibles		12,376
Total purchase price		12,941,699	[2]	2,958,439	[3]
Assumed mortgage notes		(156,515)
Non-controlling interest		(28,158)		(1,178)
Net purchase price		$ 12,757,026		$ 2,957,261
[1]	The below-market ground lease value was recorded as a component of the Right of use asset – operating leases on the Company’s Consolidated Balance Sheet
[2]	Purchase price does not include acquisition-related costs of $98.3 million
[3]	Purchase price does not include acquisition related costs of $22.5 million.

Investments - Schedule of Pur_2

Investments - Schedule of Purchase Price Allocation of Properties (Details) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Real Estate Investment Property Net [Abstract]
Acquisition related costs	$ 98.3	$ 22.5

Intangibles - Summary of Gross

Intangibles - Summary of Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Intangible assets:
Total intangible assets, gross	$ 528,796	$ 247,154
Total accumulated amortization	(159,681)	(67,298)
Intangible assets, net	369,115	179,856
Intangible liabilities:
Below-market lease intangibles	65,143	36,190
Total intangible liabilities	65,143	36,190
Below-market lease amortization	(9,523)	(3,534)
Total accumulated amortization	(9,523)	(3,534)
Intangible liabilities, net	55,620	32,656
In-place Lease Intangibles
Intangible assets:
Total intangible assets, gross	448,447	194,003
Total accumulated amortization	(144,663)	(60,142)
Intangible assets, net	303,784
Above Market Leases Intangibles
Intangible assets:
Total intangible assets, gross	36,696	22,132
Total accumulated amortization	(7,718)	(3,506)
Intangible assets, net	28,978
Other
Intangible assets:
Total intangible assets, gross	43,653	31,019
Total accumulated amortization	(7,300)	$ (3,650)
Intangible assets, net	$ 36,353

Intangibles - Summary of Estima

Intangibles - Summary of Estimated Future Amortization on Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Intangible assets, net	$ 369,115	$ 179,856
In-place Lease Intangibles
Finite Lived Intangible Assets [Line Items]
2022	130,518
2023	42,503
2024	29,420
2025	22,511
2026	15,405
Thereafter	63,427
Intangible assets, net	303,784
Above Market Leases Intangibles
Finite Lived Intangible Assets [Line Items]
2022	5,496
2023	4,996
2024	3,832
2025	3,191
2026	2,661
Thereafter	8,802
Intangible assets, net	28,978
Other
Finite Lived Intangible Assets [Line Items]
2022	5,698
2023	5,613
2024	5,599
2025	5,192
2026	2,507
Thereafter	11,744
Intangible assets, net	36,353
Below Market Leases Intangibles
Below-market Lease Intangibles
2022	(8,445)
2023	(7,873)
2024	(6,180)
2025	(4,816)
2026	(4,645)
Thereafter	(23,661)
Intangible liabilities, net	$ (55,620)

Investments in Real Estate De_3

Investments in Real Estate Debt - Summary of Investments in Real Estate Debt (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)Position	Dec. 31, 2020USD ($)Position
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position		56	56
Weighted Average Coupon		4.41%
Weighted Average Maturity Date	[1]	Apr. 8, 2033
Cost Basis		$ 969,590	$ 216,929
Investments in real estate debt		$ 954,077	$ 218,225
RMBS
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position		50	55
Weighted Average Coupon		3.07%	3.22%
Weighted Average Maturity Date	[1]	Jul. 9, 2045	Mar. 22, 2047
Cost Basis		$ 165,600	$ 213,863
Investments in real estate debt		$ 168,309	$ 215,358
CMBS - floating
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position		4
Weighted Average Coupon		L + 3.46%
Weighted Average Maturity Date	[1]	Jul. 15, 2038
Cost Basis		$ 296,928
Investments in real estate debt		$ 295,465
CMBS - fixed
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position		1	1
Weighted Average Coupon		6.26%	6.26%
Weighted Average Maturity Date	[1]	Jul. 25, 2039	Jul. 25, 2039
Cost Basis		$ 2,522	$ 3,066
Investments in real estate debt		$ 2,701	$ 2,867
Real Estate Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position		55
Weighted Average Coupon		3.34%
Weighted Average Maturity Date	[1]	Jan. 5, 2041
Cost Basis		$ 465,050
Investments in real estate debt		$ 466,475
Term Loan
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Number of Positions | Position	[2]	1
Weighted Average Coupon	[2]	L + 5.35%
Weighted Average Maturity Date	[1],[2]	Feb. 26, 2026
Cost Basis	[2]	$ 504,540
Investments in real estate debt	[2]	$ 487,602
[1]	Weighted average maturity date is based on the fully extended maturity date of the underlying collateral.
[2]	On February 26, 2021, the Company provided financing in the form of a term loan to an unaffiliated entity in connection with its acquisition of a premier United Kingdom holiday company. The loan is in the amount of £360 million and has an initial term of five years, with a two-year extension option

Investments in Real Estate De_4

Investments in Real Estate Debt - Summary of Investments in Real Estate Debt (Parenthetical) (Details) $ in Thousands, £ in Millions		Feb. 26, 2021GBP (£)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Mortgage notes and revolving credit facility, net | $	[1]		$ 11,274,411	$ 3,278,762
United Kingdom
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Mortgage notes and revolving credit facility, net | £		£ 360
Debt instrument, term		5 years
[1]	T he majority of the Company’s mortgages contain yield or spread maintenance provisions.

Investments in Real Estate De_5

Investments in Real Estate Debt - Summary of Affiliate Investments in Real Estate Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Investments in real estate debt	$ 954,077	$ 218,225
Affiliate Investments
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Investments in real estate debt	295,465
Affiliate Investments | CMBS
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Investments in real estate debt	$ 295,465

Investments in Real Estate De_6

Investments in Real Estate Debt - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Investments [Abstract]
Unrealized gains on investments in real estate debt	$ 1.7
Unrealized losses on investments in real estate debt		$ 0.2
Realized losses investments in real estate debt		$ 5.8

Mortgage Notes and Revolving _3

Mortgage Notes and Revolving Credit Facility - Summary of Mortgage Notes and Revolving Credit Facility Secured by Company's Properties (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.40%
Maximum Facility Size				$ 100,000
Principal Balance Outstanding	[1]		$ 11,354,191	3,295,684
Deferred financing costs, net	[1]		(80,410)	(17,208)
Premium on assumed debt, net	[1]		630	286
Mortgage notes and revolving credit facility, net	[1]		11,274,411	3,278,762
Fixed Rate Loans
Debt Instrument [Line Items]
Principal Balance Outstanding	[1]		3,110,689	2,236,290
Variable Rate Loans
Debt Instrument [Line Items]
Principal Balance Outstanding	[1]		$ 8,243,502	1,059,394
One-Month LIBOR
Debt Instrument [Line Items]
Weighted Average Interest Rate			0.10%
Variable Rate Revolving Credit Facilities | Variable Rate Loans
Debt Instrument [Line Items]
Maximum Facility Size	[2]		$ 1,200,000
Principal Balance Outstanding	[1],[2]		$ 1,190,683	172,800
Variable Rate Revolving Credit Facilities | Variable Rate Loans | Weighted Average
Debt Instrument [Line Items]
Weighted Average Maturity Date	[2],[3]		Dec. 1, 2023
Variable Rate Revolving Credit Facilities | One-Month LIBOR | Variable Rate Loans | Weighted Average
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[2],[4],[5]		1.85%
Fixed Rate Mortgages | Fixed Rate Loans
Debt Instrument [Line Items]
Weighted Average Interest Rate	[4],[5]		2.99%
Principal Balance Outstanding	[1]		$ 3,110,689	2,236,290
Fixed Rate Mortgages | Fixed Rate Loans | Weighted Average
Debt Instrument [Line Items]
Weighted Average Maturity Date	[3]		Sep. 19, 2030
Floating Rate Mortgages | Variable Rate Loans
Debt Instrument [Line Items]
Principal Balance Outstanding	[1]		$ 7,052,819	$ 886,594
Floating Rate Mortgages | Variable Rate Loans | Weighted Average
Debt Instrument [Line Items]
Weighted Average Maturity Date	[3]		Feb. 23, 2024
Floating Rate Mortgages | One-Month LIBOR | Variable Rate Loans | Weighted Average
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	[4],[5]		1.76%
[1]	T he majority of the Company’s mortgages contain yield or spread maintenance provisions.
[2]	The Company’s revolving credit facility can be drawn upon to fund the acquisition of future real estate investments. During December 2021, the Company extended this facility to December 1, 2023. The repayment of the revolving credit facility is guaranteed by the Operating Partnership.
[3]	For loans where the Company, at its own discretion, has extension options, the maximum maturity date has been assumed.
[4]	The term “L” refers to the one-month LIBOR. As of December 31, 2021, one-month LIBOR was equal to 0.10%.
[5]	The term “S” refers to the one-month SOFR. As of December 31, 2021, one-month SOFR was equal to 0.05%.

Mortgage Notes and Revolving _4

Mortgage Notes and Revolving Credit Facility - Summary of Mortgage Notes and Revolving Credit Facility Secured by Company's Properties (Parenthetical) (Details)	1 Months Ended
	Dec. 31, 2021
Variable Rate Revolving Credit Facilities
Debt Instrument [Line Items]
Extended maturity date	Dec. 1, 2023
One-Month LIBOR
Debt Instrument [Line Items]
Debt weighted average interest rate	0.10%
One-Month SOFR
Debt Instrument [Line Items]
Debt weighted average interest rate	0.05%

Mortgage Notes and Revolving _5

Mortgage Notes and Revolving Credit Facility - Summary of Future Principal Payment Under Company's Mortgage Notes and Revolving Credit Facility (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022		$ 711,321
2023		6,018,446
2024		529,254
2025		718,822
2026		212,048
Thereafter		3,164,300
Total	[1]	$ 11,354,191	$ 3,295,684
[1]	T he majority of the Company’s mortgages contain yield or spread maintenance provisions.

Mortgage Notes and Revolving _6

Mortgage Notes and Revolving Credit Facility - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Debt Disclosure [Abstract]
Payment for leasing commissions, tenant and building improvements.	$ 87.2

Secured Financings on Investm_3

Secured Financings on Investments in Real Estate Debt - Schedule of Secured Financings on Investments in Real Estate Debt Transactions (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Secured Financings On Investments In Real Estate Debt [Line Items]
Collateral Assets	[1]	$ 487,602	$ 158,405
Outstanding Balance		$ 268,181	$ 108,254
Barclays RA
Secured Financings On Investments In Real Estate Debt [Line Items]
Weighted Average Maturity Date		Feb. 26, 2026
Weighted Average Interest Rate Description		L + 2.50%
Collateral Assets	[1]	$ 487,602
Outstanding Balance		$ 268,181
RMBS
Secured Financings On Investments In Real Estate Debt [Line Items]
Weighted Average Maturity Date			Mar. 17, 2021
Weighted Average Interest Rate			1.93%
Collateral Assets	[1]		$ 155,538
Outstanding Balance			$ 105,804
CMBS
Secured Financings On Investments In Real Estate Debt [Line Items]
Weighted Average Maturity Date			Jan. 6, 2021
Weighted Average Interest Rate			2.10%
Collateral Assets	[1]		$ 2,867
Outstanding Balance			$ 2,450
[1]

Unsecured Line of Credit - Addi

Unsecured Line of Credit - Additional Information (Details) - USD ($) $ in Millions	Dec. 16, 2020	Dec. 31, 2021	Jul. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Uncommitted line of credit	$ 100
Line of Credit Facility, Expiration Date		Dec. 16, 2023
Line of Credit Facility, Description		The Line of Credit expires on December 16, 2023, at which time the Company may request additional one-year extensions thereafter. Interest under the Line of Credit is determined based on one-month U.S. dollar-denominated LIBOR plus 3.0%.
Maximum Facility Size				$ 100
Increase in borrowing capacity			$ 450
Line of Credit Facility, Interest Rate Description		one-month U.S. dollar-denominated LIBOR plus 3.0%
Outstanding borrowings		$ 375		$ 0

Other Assets and Other Liabil_3

Other Assets and Other Liabilities - Schedule of Components of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets [Abstract]
Intangible assets, net	$ 369,115	$ 179,856
Derivative instruments	194,053	1,410
Equity securities	172,236
Receivables	103,049	23,692
Prepaid expenses	15,871	4,047
Acquisition deposits	13,422	7
Deferred financing costs, net	6,723	1,268
Interest receivable	5,337	548
Other	1,492	307
Total	$ 881,298	$ 211,135

Other Assets and Other Liabil_4

Other Assets and Other Liabilities - Schedule of Components of Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Accounts payable and accrued expenses	$ 89,625	$ 19,651
Intangible liabilities, net	55,620	32,656
Real estate taxes payable	53,423	14,842
Tenant security deposits	36,509	9,842
Distributions payable	32,696	8,682
Accrued interest expense	16,399	7,309
Right of use liability - operating leases	$ 12,499	$ 6,390
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Deferred tax liability	$ 8,599	$ 1,229
Deferred income	7,467	11,111
Derivative instruments	1,398	5,167
Other	25,271	193
Total	$ 339,506	$ 117,072

Equity and Redeemable Non-con_3

Equity and Redeemable Non-controlling Interest - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Class$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	May 10, 2021$ / sharesshares
Class Of Stock [Line Items]
Number of classes of common stock | Class	4
Number of shares authorized				1,100,000,000
Preferred stock, authorized shares	100,000,000	100,000,000
Preferred stock, par value | $ / shares	$ 0.01	$ 0.01
Number of shares authorized	3,100,000,000
Common stock repurchase limitations of aggregate NAV per month percentage	2.00%
Common stock repurchase limitations of aggregate NAV per calendar quarter percentage	5.00%
Repurchase of common stock	2,835,117	2,061,631	10,350
Payments for repurchase of common stock | $	$ 64,600	$ 43,700	$ 200
Fair value allocation | $	$ 8,250	$ 1,282
Charter Amendment
Class Of Stock [Line Items]
Number of shares authorized				3,100,000,000
Preferred Stock
Class Of Stock [Line Items]
Preferred stock, authorized shares				100,000,000
Preferred stock, par value | $ / shares				$ 0.01
Preferred Stock | Charter Amendment
Class Of Stock [Line Items]
Preferred stock, authorized shares				100,000,000
Preferred stock, par value | $ / shares				$ 0.01
Common Stock
Class Of Stock [Line Items]
Common stock, shares authorized				1,000,000,000
Common stock, par value | $ / shares				$ 0.01
Common Stock | Charter Amendment
Class Of Stock [Line Items]
Common stock, shares authorized				3,000,000,000
Common stock, par value | $ / shares				$ 0.01
Common Stock Class T
Class Of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000		250,000,000
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Repurchase of common stock	59,272	143,134
Common Stock Class T | Charter Amendment
Class Of Stock [Line Items]
Common stock, shares authorized				500,000,000
Common Stock Class S
Class Of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000		250,000,000
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Repurchase of common stock	1,267,731	1,059,710	5,507
Common Stock Class S | Charter Amendment
Class Of Stock [Line Items]
Common stock, shares authorized				1,000,000,000
Common Stock Class D
Class Of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000		250,000,000
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Repurchase of common stock	57,349	84,311
Common Stock Class D | Charter Amendment
Class Of Stock [Line Items]
Common stock, shares authorized				500,000,000
Common Stock Class I
Class Of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000		250,000,000
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Repurchase of common stock	1,450,765	774,476	4,843
Common Stock Class I | Charter Amendment
Class Of Stock [Line Items]
Common stock, shares authorized				1,000,000,000

Equity and Redeemable Non-con_4

Equity and Redeemable Non-controlling Interest - Schedule of Company's Authorized Capital (Details) - $ / shares	Dec. 31, 2021	May 10, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Preferred Stock, Number of Shares	100,000,000		100,000,000
Total Number of Shares	3,100,000,000
Preferred stock, Par value	$ 0.01		$ 0.01
Common Stock Class T
Class Of Stock [Line Items]
Number of Shares	500,000,000	250,000,000	500,000,000
Par value	$ 0.01		$ 0.01
Common Stock Class S
Class Of Stock [Line Items]
Number of Shares	1,000,000,000	250,000,000	1,000,000,000
Par value	$ 0.01		$ 0.01
Common Stock Class D
Class Of Stock [Line Items]
Number of Shares	500,000,000	250,000,000	500,000,000
Par value	$ 0.01		$ 0.01
Common Stock Class I
Class Of Stock [Line Items]
Number of Shares	1,000,000,000	250,000,000	1,000,000,000
Par value	$ 0.01		$ 0.01

Equity and Redeemable Non-con_5

Equity and Redeemable Non-controlling Interest - Schedule of Common Stock Outstanding shares (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Beginning balance	90,894,853	45,344,735	8,198,838
Common stock shares issued	252,739,662	45,663,646	36,612,006
Distribution reinvestment plan shares issued	3,982,044	1,943,869	538,388
Common stock shares repurchased	(2,835,117)	(2,061,631)	(10,350)
Independent directors' restricted stock grant	14,829	4,234	5,853
Ending balance	344,796,271	90,894,853	45,344,735
Common Stock Class T
Class Of Stock [Line Items]
Beginning balance	2,463,182	1,412,563	483
Common stock shares issued	2,157,634	1,137,269	1,401,818
Distribution reinvestment plan shares issued	86,892	56,484	10,262
Common stock shares repurchased	(59,272)	(143,134)
Ending balance	4,648,436	2,463,182	1,412,563
Common Stock Class S
Class Of Stock [Line Items]
Beginning balance	46,431,661	26,164,794	6,610,280
Common stock shares issued	107,086,220	20,138,235	19,176,803
Distribution reinvestment plan shares issued	2,130,886	1,188,342	383,218
Common stock shares repurchased	(1,267,731)	(1,059,710)	(5,507)
Ending balance	154,381,036	46,431,661	26,164,794
Common Stock Class D
Class Of Stock [Line Items]
Beginning balance	2,847,097	1,653,094	46,075
Common stock shares issued	19,108,491	1,190,809	1,584,566
Distribution reinvestment plan shares issued	244,060	87,505	22,453
Common stock shares repurchased	(57,349)	(84,311)
Ending balance	22,142,299	2,847,097	1,653,094
Common Stock Class I
Class Of Stock [Line Items]
Beginning balance	39,152,913	16,114,284	1,542,000
Common stock shares issued	124,387,317	23,197,333	14,448,819
Distribution reinvestment plan shares issued	1,520,206	611,538	122,455
Common stock shares repurchased	(1,450,765)	(774,476)	(4,843)
Independent directors' restricted stock grant	14,829	4,234	5,853
Ending balance	163,624,500	39,152,913	16,114,284

Equity and Redeemable Non-con_6

Equity and Redeemable Non-controlling Interest - Schedule of Common Stock Outstanding shares (Details) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Annual compensation paid to the independent directors	$ 0.3	$ 0.1	$ 0.1
Grant amortized period	1 year	1 year	1 year

Equity and Redeemable Non-con_7

Equity and Redeemable Non-controlling Interest - Schedule of Aggregate Distributions Declared for Each Class of Common Stock (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock Class T
Class Of Stock [Line Items]
Aggregate gross distributions declared per share of common stock	$ 1.2420	$ 1.2420	$ 1.0905
Stockholder servicing fee per share of common stock	(0.1949)	(0.1808)	(0.1608)
Net distributions declared per share of common stock	1.0471	1.0612	0.9297
Common Stock Class S
Class Of Stock [Line Items]
Aggregate gross distributions declared per share of common stock	1.2420	1.2420	1.0905
Stockholder servicing fee per share of common stock	(0.1955)	(0.1821)	(0.1787)
Net distributions declared per share of common stock	1.0465	1.0599	0.9118
Common Stock Class D
Class Of Stock [Line Items]
Aggregate gross distributions declared per share of common stock	1.2420	1.2420	1.0905
Stockholder servicing fee per share of common stock	(0.0571)	(0.0533)	(0.0503)
Net distributions declared per share of common stock	1.1849	1.1887	1.0402
Common Stock Class I
Class Of Stock [Line Items]
Aggregate gross distributions declared per share of common stock	1.2420	1.2420	1.0905
Net distributions declared per share of common stock	$ 1.2420	$ 1.2420	$ 1.0905

Equity and Redeemable Non-con_8

Equity and Redeemable Non-controlling Interest - Schedule of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Balance at the beginning of the year	$ 10,409
Settlement of performance participation allocation	15,061	$ 10,366
GAAP income allocation	(1,758)	(642)
Distributions	(1,460)	(597)
Fair value allocation	8,250	1,282
Ending balance	$ 30,502	$ 10,409

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Mar. 24, 2022USD ($)	Jan. 31, 2022USD ($)shares	Jan. 31, 2021USD ($)shares	Oct. 29, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)Investmentshares	Dec. 31, 2020USD ($)Investmentshares	Dec. 31, 2019USD ($)	Mar. 20, 2020
Related Party Transaction [Line Items]
Acquired interest rate on property									75.00%
Acquired interest rate on property by related party									25.00%
Purchase Price					$ 59,000,000
Description of variable rate basis					one-month LIBOR + 2.40%
Debt Instrument, Basis Spread on Variable Rate					2.40%
Principle amount					$ 300,000
Percentage of management fee on NAV per annum						1.25%
Management fees						$ 62,237,000	$ 19,423,000	$ 5,469,000
Annual hurdle percentage						5.00%
Recognized liabilities for Performance Participation interest						$ 204,200,000	15,100,000
Due to affiliates						513,268,000	96,371,000
Services fee for accounting and administrative matters						200,000	0	0
Rental property operating
Related Party Transaction [Line Items]
Operating expenses						227,949,000	96,942,000	18,463,000
Dealer Manager
Related Party Transaction [Line Items]
Cost of legal services						100,000	0	0
Accrued Stockholder Servicing Fee
Related Party Transaction [Line Items]
Due to affiliates						291,544,000	73,170,000
Advanced Organization And Offering Costs
Related Party Transaction [Line Items]
Due to affiliates						4,373,000	5,830,000
Accrued Affiliate Service Provider Expenses
Related Party Transaction [Line Items]
Due to affiliates						843,000
Cost of legal services						600,000	300,000	200,000
Title service related cost						$ 1,900,000	$ 200,000	0
Number of real estate investment | Investment						11	2
Accrued Affiliate Service Provider Expenses | Rental property operating
Related Party Transaction [Line Items]
Operating expenses						$ 6,700,000	$ 2,800,000	700,000
Class I Unit
Related Party Transaction [Line Items]
Units issued as payment for performance participation interest | shares						7,872,930	695,320
Subsequent Event
Related Party Transaction [Line Items]
Purchase Price	$ 200,000,000
Unregistered Class I shares
Related Party Transaction [Line Items]
Stock issued as management fees, shares | shares			97,097			2,232,831	210,827
Management fees, accrued			$ 2,100,000			$ 9,600,000	$ 2,100,000
Unregistered Class I shares | Subsequent Event
Related Party Transaction [Line Items]
Stock issued as management fees, shares | shares		371,148
Management fees, accrued		$ 9,600,000
Class I Shares (Member)
Related Party Transaction [Line Items]
Number of shares authorized for repurchase | shares						27,850	8,787
Share repurchase program, authorized amount						$ 600,000	$ 200,000
Common Stock Class T, Class S and Class D | Accrued Stockholder Servicing Fee
Related Party Transaction [Line Items]
Due to affiliates						$ 291,500,000	73,200,000
Sponsor
Related Party Transaction [Line Items]
Description of variable rate basis				one-month LIBOR plus 3.00%
Borrowings to fund acquisition				$ 22,000,000
Borrowing repayment date				Nov. 3, 2020
Special Limited Partner
Related Party Transaction [Line Items]
Related party allocation percentage of annual total return						12.50%
All Other Unit Holders
Related Party Transaction [Line Items]
Related party allocation percentage of annual total return						87.50%
Dealer Manager | Common Stock Class T, Class S and Class D | Accrued Stockholder Servicing Fee
Related Party Transaction [Line Items]
Due to affiliates						$ 291,500,000	73,200,000
Dealer Manager | Common Stock Class T, Class S and Class D | Accrued Stockholder Servicing Fee | Maximum
Related Party Transaction [Line Items]
Annual stockholder servicing fee percentage						8.75%
Advisor | Advanced Organization And Offering Costs
Related Party Transaction [Line Items]
Due to affiliates								$ 7,300,000
Advisor | Advanced Expenses | One Month in Arrears
Related Party Transaction [Line Items]
Due to affiliates						$ 6,700,000	2,700,000
Advisor | Advanced Expenses | Unaffiliated Third Party
Related Party Transaction [Line Items]
Due to affiliates						$ 100,000	$ 100,000

Related Party Transactions - Su

Related Party Transactions - Summary of Components of Due to Affiliates (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due to affiliates	$ 513,268	$ 96,371
Accrued Stockholder Servicing Fee
Related Party Transaction [Line Items]
Due to affiliates	291,544	73,170
Performance Participation Allocation
Related Party Transaction [Line Items]
Due to affiliates	204,225	15,061
Advanced Organization And Offering Costs
Related Party Transaction [Line Items]
Due to affiliates	4,373	5,830
Accrued Management Fee
Related Party Transaction [Line Items]
Due to affiliates	9,628	2,103
Accrued Affiliate Service Provider Expenses
Related Party Transaction [Line Items]
Due to affiliates	843
Advanced Operating Expenses
Related Party Transaction [Line Items]
Due to affiliates	$ 2,655	$ 207

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Mar. 28, 2022USD ($)
Subsequent Event
Other Commitments [Line Items]
Remaining funding commitment to one of joint ventures	$ 202

Leases - Additional Information

Leases - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Lessee Lease Description [Line Items]
Lessee, operating lease acquisition, incremental cost	$ 0
Operating lease, weighted average remaining lease term	38 years
Minimum
Lessee Lease Description [Line Items]
Incremental borrowing rate to determine lease liabilities	4.50%
Maximum
Lessee Lease Description [Line Items]
Incremental borrowing rate to determine lease liabilities	6.00%

Leases - Schedule of Future Lea

Leases - Schedule of Future Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 686
2023	686
2024	686
2025	712
2026	713
Thereafter	26,497
Total undiscounted future lease payments	29,980
Difference between undiscounted cash flows and discounted cash flows	(17,481)
Total lease liability	$ 12,499	$ 6,390

Leases - Summary of Fixed and V

Leases - Summary of Fixed and Variable Components of Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Fixed lease payments	$ 530,093	$ 238,897	$ 46,908
Variable lease payments	74,481	34,950	4,882
Rental revenue	$ 604,574	$ 273,847	$ 51,790

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted Future Minimum Rents Income Receivables (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 229,976
2023	218,831
2024	195,541
2025	169,574
2026	147,597
Thereafter	525,167
Total	$ 1,486,686

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021Segment
Segment Reporting [Abstract]
Number of reportable segments	9

Segment Reporting - Summary of

Segment Reporting - Summary of Total Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Assets	$ 19,971,431	$ 5,330,816
Multifamily Properties
Segment Reporting Information [Line Items]
Total Assets	12,225,256	2,738,210
Single-Family Rental Units
Segment Reporting Information [Line Items]
Total Assets	1,150,987
Hospitality Properties
Segment Reporting Information [Line Items]
Total Assets	240,326	244,065
Industrial properties
Segment Reporting Information [Line Items]
Total Assets	2,145,163	551,898
Office properties
Segment Reporting Information [Line Items]
Total Assets	1,599,774	1,186,328
Medical office properties
Segment Reporting Information [Line Items]
Total Assets	191,881	196,559
Self-Storage Properties
Segment Reporting Information [Line Items]
Total Assets	331,024
Other Properties
Segment Reporting Information [Line Items]
Total Assets	332,507
Investments in real estate debt
Segment Reporting Information [Line Items]
Total Assets	954,077	218,225
Other (Corporate)
Segment Reporting Information [Line Items]
Total Assets	$ 800,436	$ 195,531

Segment Reporting - Summary o_2

Segment Reporting - Summary of Financial Results by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Total revenues	$ 642,905	$ 298,423	$ 94,308
Expenses
Income from investments in real estate debt	45,156	7,206	10,158
(Loss) income from unconsolidated real estate ventures	(615)	(1,462)	175
Depreciation and amortization	(330,455)	(155,864)	(38,896)
General and administrative	(25,404)	(8,624)	(4,523)
Management fees	(62,237)	(19,423)	(5,469)
Performance participation allocation	(204,225)	(15,061)	(10,366)
Interest expense	(124,091)	(88,918)	(25,311)
Other income (expense), net	3,174	(1,293)	916
Net loss	(304,443)	(98,200)	(20,978)
Net loss attributable to non-controlling interests in consolidated joint ventures	434	1,300	152
Net loss attributable to stockholders	(302,251)	(96,258)	(20,826)
Operating Segments
Revenues:
Total revenues	642,905	298,423	94,308
Expenses
Operating expenses	248,651	113,184	41,970
Income from investments in real estate debt	45,156	7,206	10,158
(Loss) income from unconsolidated real estate ventures	(615)	(1,462)	175
Segment net operating income	438,795	190,983	62,671
Depreciation and amortization	(330,455)	(155,864)	(38,896)
General and administrative	(25,404)	(8,624)	(4,523)
Management fees	(62,237)	(19,423)	(5,469)
Performance participation allocation	(204,225)	(15,061)	(10,366)
Interest expense	(124,091)	(88,918)	(25,311)
Other income (expense), net	3,174	(1,293)	916
Net loss	(304,443)	(98,200)	(20,978)
Net loss attributable to non-controlling interests in consolidated joint ventures	434	1,300	152
Net loss attributable to non-controlling interests in Operating Partnership	1,758	642
Net loss attributable to stockholders	(302,251)	(96,258)	(20,826)
Operating Segments | Multifamily Properties
Revenues:
Total revenues	369,362	134,880	31,437
Expenses
Operating expenses	151,923	51,878	11,396
Segment net operating income	217,439	83,002	20,041
Depreciation and amortization	(189,084)	(73,365)	(17,520)
Operating Segments | Single-Family Rental Units
Revenues:
Total revenues	1,158
Expenses
Operating expenses	274
Segment net operating income	884
Depreciation and amortization	(2,311)
Operating Segments | Hospitality Properties
Revenues:
Total revenues	33,649	22,346
Expenses
Operating expenses	20,702	16,242
(Loss) income from unconsolidated real estate ventures	(615)	(1,462)
Segment net operating income	12,332	4,642
Depreciation and amortization	(8,543)	(8,403)
Operating Segments | Industrial properties
Revenues:
Total revenues	96,826	30,203	2,489
Expenses
Operating expenses	25,258	7,261	583
Segment net operating income	71,568	22,942	1,906
Depreciation and amortization	(58,002)	(18,323)	(1,570)
Operating Segments | Office properties
Revenues:
Total revenues	124,648	97,223	19,053
Expenses
Operating expenses	43,741	32,895	6,388
Segment net operating income	80,907	64,328	12,665
Depreciation and amortization	(61,953)	(48,477)	(11,312)
Operating Segments | Medical office properties
Revenues:
Total revenues	14,697	13,771	511
Expenses
Operating expenses	6,225	4,908	96
Segment net operating income	8,472	8,863	415
Depreciation and amortization	(8,437)	(7,296)	(255)
Operating Segments | Self-Storage Properties
Revenues:
Total revenues	741
Expenses
Operating expenses	287
Segment net operating income	454
Depreciation and amortization	(429)
Operating Segments | Investments in real estate debt
Expenses
Income from investments in real estate debt	45,156	7,206	10,158
Segment net operating income	45,156	7,206	10,158
Operating Segments | Other Properties
Revenues:
Total revenues	1,824
Expenses
Operating expenses	241
Segment net operating income	1,583
Depreciation and amortization	(1,696)
Operating Segments | Hotel Properties
Revenues:
Total revenues			40,818
Expenses
Operating expenses			23,507
(Loss) income from unconsolidated real estate ventures			175
Segment net operating income			17,486
Depreciation and amortization			(8,239)
Rental Revenue | Operating Segments
Revenues:
Total revenues	604,574	273,847	51,790
Expenses
Operating expenses	227,949	96,942	18,463
Rental Revenue | Operating Segments | Multifamily Properties
Revenues:
Total revenues	365,052	132,835	29,768
Expenses
Operating expenses	151,923	51,878	11,396
Rental Revenue | Operating Segments | Single-Family Rental Units
Revenues:
Total revenues	1,158
Expenses
Operating expenses	274
Rental Revenue | Operating Segments | Industrial properties
Revenues:
Total revenues	96,826	30,203	2,489
Expenses
Operating expenses	25,258	7,261	583
Rental Revenue | Operating Segments | Office properties
Revenues:
Total revenues	124,317	97,078	19,022
Expenses
Operating expenses	43,741	32,895	6,388
Rental Revenue | Operating Segments | Medical office properties
Revenues:
Total revenues	14,656	13,731	511
Expenses
Operating expenses	6,225	4,908	96
Rental Revenue | Operating Segments | Self-Storage Properties
Revenues:
Total revenues	741
Expenses
Operating expenses	287
Rental Revenue | Operating Segments | Other Properties
Revenues:
Total revenues	1,824
Expenses
Operating expenses	241
Hospitality revenue
Revenues:
Total revenues	33,301	22,200	40,559
Hospitality revenue | Operating Segments
Revenues:
Total revenues	33,301	22,200	40,559
Expenses
Operating expenses	20,702	16,242	23,507
Hospitality revenue | Operating Segments | Hospitality Properties
Revenues:
Total revenues	33,301	22,200
Expenses
Operating expenses	20,702	16,242
Hospitality revenue | Operating Segments | Hotel Properties
Revenues:
Total revenues			40,559
Expenses
Operating expenses			23,507
Other revenue
Revenues:
Total revenues	5,030	2,376	1,959
Other revenue | Operating Segments
Revenues:
Total revenues	5,030	2,376	1,959
Other revenue | Operating Segments | Multifamily Properties
Revenues:
Total revenues	4,310	2,045	1,669
Other revenue | Operating Segments | Hospitality Properties
Revenues:
Total revenues	348	146
Other revenue | Operating Segments | Office properties
Revenues:
Total revenues	331	145	31
Other revenue | Operating Segments | Medical office properties
Revenues:
Total revenues	$ 41	$ 40
Other revenue | Operating Segments | Hotel Properties
Revenues:
Total revenues			$ 259

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	Mar. 24, 2022USD ($)RealEstatePropertyUnit	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)Transaction	Dec. 31, 2020USD ($)Transaction	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Payments to acquire real estate investments		$ 59,000
Number of Transactions | Transaction			28	12
Proceeds from issuance of common stock, net			$ 5,643,318	$ 853,205	$ 761,712
Subsequent Event
Subsequent Event [Line Items]
Payments to acquire real estate investments	$ 200,000
Number of Transactions | RealEstatePropertyUnit	4
Payments on real estate investments	$ 200,000
Acquisition financing committed by third party	1,000,000
Subsequent Event | Primary Offering
Subsequent Event [Line Items]
Proceeds from issuance of common stock, net	$ 2,000,000

Schedule III Real Estate and _2

Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 11,354,191
Initial Cost, Land and Land Improvements	2,722,233
Initial Cost, Building and Building Improvements	14,401,468
Gross Amounts, Land and Land Improvements	2,733,505
Gross Amounts, Building and Building Improvements	14,450,074
Total	17,448,136	$ 4,626,212	$ 1,823,992
Accumulated Depreciation	(368,293)	$ (130,540)	$ (25,948)
Total	17,183,579
Accumulated Depreciation	(333,185)
Land and Land Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	11,272
Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	48,606
Multifamily
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	7,620,563
Initial Cost, Land and Land Improvements	1,690,961
Initial Cost, Building and Building Improvements	9,993,333
Gross Amounts, Land and Land Improvements	1,697,543
Gross Amounts, Building and Building Improvements	10,020,339
Total	11,717,882
Accumulated Depreciation	$ (182,691)
Multifamily | Phoenix Property
Real Estate And Accumulated Depreciation [Line Items]
Location	Mesa, AZ
Encumbrances	$ 32,239
Initial Cost, Land and Land Improvements	9,472
Initial Cost, Building and Building Improvements	35,909
Gross Amounts, Land and Land Improvements	9,627
Gross Amounts, Building and Building Improvements	36,549
Total	46,176
Accumulated Depreciation	$ (5,106)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2019
Multifamily | Savannah Property
Real Estate And Accumulated Depreciation [Line Items]
Location	Savannah, GA
Encumbrances	$ 25,412
Initial Cost, Land and Land Improvements	3,671
Initial Cost, Building and Building Improvements	31,351
Gross Amounts, Land and Land Improvements	3,851
Gross Amounts, Building and Building Improvements	31,525
Total	35,376
Accumulated Depreciation	$ (3,832)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2019
Multifamily | Concord Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Fort Meade, MD
Encumbrances	$ 61,810
Initial Cost, Land and Land Improvements	20,082
Initial Cost, Building and Building Improvements	67,141
Gross Amounts, Land and Land Improvements	20,254
Gross Amounts, Building and Building Improvements	67,999
Total	88,253
Accumulated Depreciation	$ (5,435)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2019
Multifamily | Cascades Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Charlotte, NC
Encumbrances	$ 72,195
Initial Cost, Land and Land Improvements	12,711
Initial Cost, Building and Building Improvements	92,689
Gross Amounts, Land and Land Improvements	12,978
Gross Amounts, Building and Building Improvements	92,933
Total	105,911
Accumulated Depreciation	$ (5,683)
Year Acquired	Dec. 31, 2019
Multifamily | Cascades Apartments | Minimum
Real Estate And Accumulated Depreciation [Line Items]
Year Built	Dec. 31, 2009
Multifamily | Cascades Apartments | Maximum
Real Estate And Accumulated Depreciation [Line Items]
Year Built	Dec. 31, 2012
Multifamily | Thornton Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Alexandria, VA
Encumbrances	$ 118,151
Initial Cost, Land and Land Improvements	30,472
Initial Cost, Building and Building Improvements	145,504
Gross Amounts, Land and Land Improvements	30,558
Gross Amounts, Building and Building Improvements	145,532
Total	176,090
Accumulated Depreciation	$ (8,139)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2019
Multifamily | Exchange on Erwin
Real Estate And Accumulated Depreciation [Line Items]
Location	Durham, NC
Encumbrances	$ 50,542
Initial Cost, Land and Land Improvements	18,313
Initial Cost, Building and Building Improvements	54,839
Gross Amounts, Land and Land Improvements	18,332
Gross Amounts, Building and Building Improvements	54,918
Total	73,250
Accumulated Depreciation	$ (3,777)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2019
Multifamily | The Griffin
Real Estate And Accumulated Depreciation [Line Items]
Location	Scottsdale, AZ
Encumbrances	$ 64,686
Initial Cost, Land and Land Improvements	17,614
Initial Cost, Building and Building Improvements	74,940
Gross Amounts, Land and Land Improvements	17,694
Gross Amounts, Building and Building Improvements	75,092
Total	92,786
Accumulated Depreciation	$ (4,601)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2019
Multifamily | Avida Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Salt Lake City, UT
Encumbrances	$ 56,355
Initial Cost, Land and Land Improvements	8,018
Initial Cost, Building and Building Improvements	73,763
Gross Amounts, Land and Land Improvements	8,411
Gross Amounts, Building and Building Improvements	74,174
Total	82,585
Accumulated Depreciation	$ (4,676)
Year Built	Dec. 31, 2012
Year Acquired	Dec. 31, 2019
Multifamily | Land and Land Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 6,582
Multifamily | Land and Land Improvements | Phoenix Property
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	155
Multifamily | Land and Land Improvements | Savannah Property
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	180
Multifamily | Land and Land Improvements | Concord Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	172
Multifamily | Land and Land Improvements | Cascades Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	267
Multifamily | Land and Land Improvements | Thornton Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	86
Multifamily | Land and Land Improvements | Exchange on Erwin
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	19
Multifamily | Land and Land Improvements | The Griffin
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	80
Multifamily | Land and Land Improvements | Avida Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	393
Multifamily | Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	27,006
Multifamily | Building and Building Improvements | Phoenix Property
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	640
Multifamily | Building and Building Improvements | Savannah Property
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	174
Multifamily | Building and Building Improvements | Concord Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	858
Multifamily | Building and Building Improvements | Cascades Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	244
Multifamily | Building and Building Improvements | Thornton Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	28
Multifamily | Building and Building Improvements | Exchange on Erwin
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	79
Multifamily | Building and Building Improvements | The Griffin
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	152
Multifamily | Building and Building Improvements | Avida Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 411
Multifamily | Florida Multifamily Portfolio | Lindsey Terrance
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 20,948
Initial Cost, Land and Land Improvements	6,828
Initial Cost, Building and Building Improvements	20,356
Gross Amounts, Land and Land Improvements	7,026
Gross Amounts, Building and Building Improvements	21,168
Total	28,194
Accumulated Depreciation	$ (3,125)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2019
Multifamily | Florida Multifamily Portfolio | Grande Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 15,474
Initial Cost, Land and Land Improvements	4,746
Initial Cost, Building and Building Improvements	17,564
Gross Amounts, Land and Land Improvements	4,933
Gross Amounts, Building and Building Improvements	17,972
Total	22,905
Accumulated Depreciation	$ (2,284)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2019
Multifamily | Florida Multifamily Portfolio | Noah's Landing
Real Estate And Accumulated Depreciation [Line Items]
Location	Naples FL
Encumbrances	$ 16,889
Initial Cost, Land and Land Improvements	6,517
Initial Cost, Building and Building Improvements	17,121
Gross Amounts, Land and Land Improvements	6,638
Gross Amounts, Building and Building Improvements	17,603
Total	24,241
Accumulated Depreciation	$ (2,270)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2019
Multifamily | Florida Multifamily Portfolio | Tuscan Isle
Real Estate And Accumulated Depreciation [Line Items]
Location	Naples FL
Encumbrances	$ 19,157
Initial Cost, Land and Land Improvements	7,528
Initial Cost, Building and Building Improvements	19,904
Gross Amounts, Land and Land Improvements	7,665
Gross Amounts, Building and Building Improvements	20,580
Total	28,245
Accumulated Depreciation	$ (2,737)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2019
Multifamily | Florida Multifamily Portfolio | Land and Land Improvements | Lindsey Terrance
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 198
Multifamily | Florida Multifamily Portfolio | Land and Land Improvements | Grande Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	187
Multifamily | Florida Multifamily Portfolio | Land and Land Improvements | Noah's Landing
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	121
Multifamily | Florida Multifamily Portfolio | Land and Land Improvements | Tuscan Isle
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	137
Multifamily | Florida Multifamily Portfolio | Building and Building Improvements | Lindsey Terrance
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	812
Multifamily | Florida Multifamily Portfolio | Building and Building Improvements | Grande Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	408
Multifamily | Florida Multifamily Portfolio | Building and Building Improvements | Noah's Landing
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	482
Multifamily | Florida Multifamily Portfolio | Building and Building Improvements | Tuscan Isle
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 676
Multifamily | Columbus Multifamily Portfolio | 80 on the Commons
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 17,991
Initial Cost, Land and Land Improvements	1,723
Initial Cost, Building and Building Improvements	29,200
Gross Amounts, Land and Land Improvements	1,753
Gross Amounts, Building and Building Improvements	29,200
Total	30,953
Accumulated Depreciation	$ (1,646)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2019
Multifamily | Columbus Multifamily Portfolio | Gramercy
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 35,903
Initial Cost, Land and Land Improvements	12,065
Initial Cost, Building and Building Improvements	35,270
Gross Amounts, Land and Land Improvements	12,134
Gross Amounts, Building and Building Improvements	35,270
Total	47,404
Accumulated Depreciation	$ (2,865)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2019
Multifamily | Columbus Multifamily Portfolio | 250 High
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 19,836
Initial Cost, Land and Land Improvements	1,440
Initial Cost, Building and Building Improvements	27,818
Gross Amounts, Land and Land Improvements	1,440
Gross Amounts, Building and Building Improvements	27,818
Total	29,258
Accumulated Depreciation	$ (1,508)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Multifamily | Columbus Multifamily Portfolio | 600 Goodale
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 26,270
Initial Cost, Land and Land Improvements	2,537
Initial Cost, Building and Building Improvements	29,176
Gross Amounts, Land and Land Improvements	2,696
Gross Amounts, Building and Building Improvements	29,176
Total	31,872
Accumulated Depreciation	$ (1,679)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2019
Multifamily | Columbus Multifamily Portfolio | 801 Polaris
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 33,109
Initial Cost, Land and Land Improvements	2,930
Initial Cost, Building and Building Improvements	39,135
Gross Amounts, Land and Land Improvements	3,774
Gross Amounts, Building and Building Improvements	38,301
Total	42,075
Accumulated Depreciation	$ (2,193)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Multifamily | Columbus Multifamily Portfolio | Land and Land Improvements | 80 on the Commons
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 30
Multifamily | Columbus Multifamily Portfolio | Land and Land Improvements | Gramercy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	69
Multifamily | Columbus Multifamily Portfolio | Land and Land Improvements | 600 Goodale
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	159
Multifamily | Columbus Multifamily Portfolio | Land and Land Improvements | 801 Polaris
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	844
Multifamily | Columbus Multifamily Portfolio | Building and Building Improvements | 801 Polaris
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ (834)
Multifamily | Highlands Portfolio | Graham Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 23,124
Initial Cost, Land and Land Improvements	3,440
Initial Cost, Building and Building Improvements	27,150
Gross Amounts, Land and Land Improvements	3,449
Gross Amounts, Building and Building Improvements	27,150
Total	30,599
Accumulated Depreciation	$ (1,190)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | Luxe
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 23,972
Initial Cost, Land and Land Improvements	2,170
Initial Cost, Building and Building Improvements	30,051
Gross Amounts, Land and Land Improvements	2,175
Gross Amounts, Building and Building Improvements	30,052
Total	32,227
Accumulated Depreciation	$ (1,165)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | Harper House
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 25,465
Initial Cost, Land and Land Improvements	3,285
Initial Cost, Building and Building Improvements	30,573
Gross Amounts, Land and Land Improvements	3,286
Gross Amounts, Building and Building Improvements	30,573
Total	33,859
Accumulated Depreciation	$ (1,237)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | The Baxter Decatur
Real Estate And Accumulated Depreciation [Line Items]
Location	Atlanta, GA
Encumbrances	$ 53,462
Initial Cost, Land and Land Improvements	8,603
Initial Cost, Building and Building Improvements	69,963
Gross Amounts, Land and Land Improvements	8,685
Gross Amounts, Building and Building Improvements	70,041
Total	78,726
Accumulated Depreciation	$ (2,951)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | Kalina Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Salt Lake City, UT
Encumbrances	$ 57,928
Initial Cost, Land and Land Improvements	7,101
Initial Cost, Building and Building Improvements	74,739
Gross Amounts, Land and Land Improvements	7,111
Gross Amounts, Building and Building Improvements	74,794
Total	81,905
Accumulated Depreciation	$ (2,764)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | Acadia Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Ashburn, VA
Encumbrances	$ 134,338
Initial Cost, Land and Land Improvements	18,337
Initial Cost, Building and Building Improvements	168,734
Gross Amounts, Land and Land Improvements	18,506
Gross Amounts, Building and Building Improvements	169,969
Total	188,475
Accumulated Depreciation	$ (5,634)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Highlands Portfolio | Land and Land Improvements | Graham Park
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 9
Multifamily | Highlands Portfolio | Land and Land Improvements | Luxe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	5
Multifamily | Highlands Portfolio | Land and Land Improvements | Harper House
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1
Multifamily | Highlands Portfolio | Land and Land Improvements | The Baxter Decatur
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	82
Multifamily | Highlands Portfolio | Land and Land Improvements | Kalina Way
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	10
Multifamily | Highlands Portfolio | Land and Land Improvements | Acadia Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	169
Multifamily | Highlands Portfolio | Building and Building Improvements | Luxe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1
Multifamily | Highlands Portfolio | Building and Building Improvements | The Baxter Decatur
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	78
Multifamily | Highlands Portfolio | Building and Building Improvements | Kalina Way
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	55
Multifamily | Highlands Portfolio | Building and Building Improvements | Acadia Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 1,235
Multifamily | Southeast Affordable Housing Portfolio | Arboretum Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Newport News, VA
Encumbrances	$ 14,663
Initial Cost, Land and Land Improvements	4,339
Initial Cost, Building and Building Improvements	15,528
Gross Amounts, Land and Land Improvements	4,352
Gross Amounts, Building and Building Improvements	15,838
Total	20,190
Accumulated Depreciation	$ (1,095)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Courtney Manor
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 26,163
Initial Cost, Land and Land Improvements	9,049
Initial Cost, Building and Building Improvements	25,981
Gross Amounts, Land and Land Improvements	9,125
Gross Amounts, Building and Building Improvements	26,413
Total	35,538
Accumulated Depreciation	$ (1,717)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Creekside at Bellemeade
Real Estate And Accumulated Depreciation [Line Items]
Location	High Point, NC
Encumbrances	$ 4,640
Initial Cost, Land and Land Improvements	2,031
Initial Cost, Building and Building Improvements	4,415
Gross Amounts, Land and Land Improvements	2,083
Gross Amounts, Building and Building Improvements	4,477
Total	6,560
Accumulated Depreciation	$ (571)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Falcon Trace
Real Estate And Accumulated Depreciation [Line Items]
Location	Orlando, FL
Encumbrances	$ 38,926
Initial Cost, Land and Land Improvements	9,022
Initial Cost, Building and Building Improvements	41,818
Gross Amounts, Land and Land Improvements	9,150
Gross Amounts, Building and Building Improvements	42,222
Total	51,372
Accumulated Depreciation	$ (2,735)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Hatteras Sound
Real Estate And Accumulated Depreciation [Line Items]
Location	Sanford, FL
Encumbrances	$ 24,859
Initial Cost, Land and Land Improvements	5,354
Initial Cost, Building and Building Improvements	27,465
Gross Amounts, Land and Land Improvements	5,424
Gross Amounts, Building and Building Improvements	27,590
Total	33,014
Accumulated Depreciation	$ (1,482)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Las Villas de Kino I
Real Estate And Accumulated Depreciation [Line Items]
Location	Tucson, AZ
Encumbrances	$ 18,108
Initial Cost, Land and Land Improvements	6,561
Initial Cost, Building and Building Improvements	16,745
Gross Amounts, Land and Land Improvements	6,611
Gross Amounts, Building and Building Improvements	17,187
Total	23,798
Accumulated Depreciation	$ (1,286)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Las Villas de Kino II
Real Estate And Accumulated Depreciation [Line Items]
Location	Tucson, AZ
Encumbrances	$ 8,147
Initial Cost, Land and Land Improvements	2,952
Initial Cost, Building and Building Improvements	7,533
Gross Amounts, Land and Land Improvements	2,981
Gross Amounts, Building and Building Improvements	7,956
Total	10,937
Accumulated Depreciation	$ (586)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Lexington Club
Real Estate And Accumulated Depreciation [Line Items]
Location	Vero Beach, FL
Encumbrances	$ 14,738
Initial Cost, Land and Land Improvements	2,972
Initial Cost, Building and Building Improvements	19,583
Gross Amounts, Land and Land Improvements	3,065
Gross Amounts, Building and Building Improvements	19,776
Total	22,841
Accumulated Depreciation	$ (1,412)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Madelyn Oaks
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 27,394
Initial Cost, Land and Land Improvements	8,881
Initial Cost, Building and Building Improvements	28,528
Gross Amounts, Land and Land Improvements	8,908
Gross Amounts, Building and Building Improvements	28,890
Total	37,798
Accumulated Depreciation	$ (1,876)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Oak Crest
Real Estate And Accumulated Depreciation [Line Items]
Location	Kannapolis, NC
Encumbrances	$ 9,373
Initial Cost, Land and Land Improvements	2,137
Initial Cost, Building and Building Improvements	10,411
Gross Amounts, Land and Land Improvements	2,325
Gross Amounts, Building and Building Improvements	10,669
Total	12,994
Accumulated Depreciation	$ (841)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Overlook at Simms Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Raleigh, NC
Encumbrances	$ 25,691
Initial Cost, Land and Land Improvements	7,189
Initial Cost, Building and Building Improvements	23,030
Gross Amounts, Land and Land Improvements	7,262
Gross Amounts, Building and Building Improvements	23,343
Total	30,605
Accumulated Depreciation	$ (1,847)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Parkside Royal Poinciana
Real Estate And Accumulated Depreciation [Line Items]
Location	West Palm Beach, FL
Encumbrances	$ 10,045
Initial Cost, Land and Land Improvements	4,624
Initial Cost, Building and Building Improvements	8,889
Gross Amounts, Land and Land Improvements	4,744
Gross Amounts, Building and Building Improvements	9,190
Total	13,934
Accumulated Depreciation	$ (813)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Patriots Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Concord, NC
Encumbrances	$ 7,760
Initial Cost, Land and Land Improvements	1,564
Initial Cost, Building and Building Improvements	7,904
Gross Amounts, Land and Land Improvements	1,699
Gross Amounts, Building and Building Improvements	7,969
Total	9,668
Accumulated Depreciation	$ (603)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Ponce Harbor
Real Estate And Accumulated Depreciation [Line Items]
Location	St. Augustine, FL
Encumbrances	$ 15,601
Initial Cost, Land and Land Improvements	3,294
Initial Cost, Building and Building Improvements	18,870
Gross Amounts, Land and Land Improvements	3,356
Gross Amounts, Building and Building Improvements	18,983
Total	22,339
Accumulated Depreciation	$ (951)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Reserves at Arboretum
Real Estate And Accumulated Depreciation [Line Items]
Location	Newport News, VA
Encumbrances	$ 18,750
Initial Cost, Land and Land Improvements	3,449
Initial Cost, Building and Building Improvements	25,920
Gross Amounts, Land and Land Improvements	3,462
Gross Amounts, Building and Building Improvements	26,117
Total	29,579
Accumulated Depreciation	$ (1,623)
Year Built	Dec. 31, 2009
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | River Reach
Real Estate And Accumulated Depreciation [Line Items]
Location	Orlando, FL
Encumbrances	$ 33,525
Initial Cost, Land and Land Improvements	10,491
Initial Cost, Building and Building Improvements	33,546
Gross Amounts, Land and Land Improvements	10,630
Gross Amounts, Building and Building Improvements	33,939
Total	44,569
Accumulated Depreciation	$ (2,434)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Riverwalk
Real Estate And Accumulated Depreciation [Line Items]
Location	Brighton, CO
Encumbrances	$ 19,015
Initial Cost, Land and Land Improvements	3,280
Initial Cost, Building and Building Improvements	20,932
Gross Amounts, Land and Land Improvements	3,403
Gross Amounts, Building and Building Improvements	21,116
Total	24,519
Accumulated Depreciation	$ (1,373)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Silver Hill
Real Estate And Accumulated Depreciation [Line Items]
Location	Newport News, VA
Encumbrances	$ 9,920
Initial Cost, Land and Land Improvements	3,381
Initial Cost, Building and Building Improvements	9,549
Gross Amounts, Land and Land Improvements	3,381
Gross Amounts, Building and Building Improvements	9,751
Total	13,132
Accumulated Depreciation	$ (640)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Spinnaker Reach
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 28,485
Initial Cost, Land and Land Improvements	6,248
Initial Cost, Building and Building Improvements	35,599
Gross Amounts, Land and Land Improvements	6,315
Gross Amounts, Building and Building Improvements	36,207
Total	42,522
Accumulated Depreciation	$ (2,336)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Stone Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Mooresville, NC
Encumbrances	$ 8,364
Initial Cost, Land and Land Improvements	1,844
Initial Cost, Building and Building Improvements	7,492
Gross Amounts, Land and Land Improvements	1,911
Gross Amounts, Building and Building Improvements	7,712
Total	9,623
Accumulated Depreciation	$ (633)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Villa Biscayne
Real Estate And Accumulated Depreciation [Line Items]
Location	Homestead, FL
Encumbrances	$ 20,339
Initial Cost, Land and Land Improvements	4,575
Initial Cost, Building and Building Improvements	23,600
Gross Amounts, Land and Land Improvements	4,626
Gross Amounts, Building and Building Improvements	23,787
Total	28,413
Accumulated Depreciation	$ (1,614)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Vista Haven
Real Estate And Accumulated Depreciation [Line Items]
Location	Sanford, FL
Encumbrances	$ 40,994
Initial Cost, Land and Land Improvements	9,562
Initial Cost, Building and Building Improvements	47,788
Gross Amounts, Land and Land Improvements	9,680
Gross Amounts, Building and Building Improvements	48,102
Total	57,782
Accumulated Depreciation	$ (3,248)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Willow Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Greensboro, NC
Encumbrances	$ 5,200
Initial Cost, Land and Land Improvements	2,157
Initial Cost, Building and Building Improvements	4,656
Gross Amounts, Land and Land Improvements	2,191
Gross Amounts, Building and Building Improvements	4,724
Total	6,915
Accumulated Depreciation	$ (458)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Arboretum Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 13
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Courtney Manor
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	76
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Creekside at Bellemeade
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	52
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Falcon Trace
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	128
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Hatteras Sound
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	70
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Las Villas de Kino I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	50
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Las Villas de Kino II
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	29
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Lexington Club
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	93
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Madelyn Oaks
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	27
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Oak Crest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	188
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Overlook at Simms Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	73
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Parkside Royal Poinciana
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	120
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Patriots Pointe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	135
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Ponce Harbor
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	62
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Reserves at Arboretum
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | River Reach
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	139
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Riverwalk
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	123
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Spinnaker Reach
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	67
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Stone Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	67
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Villa Biscayne
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	51
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Vista Haven
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	118
Multifamily | Southeast Affordable Housing Portfolio | Land and Land Improvements | Willow Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	34
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Arboretum Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	310
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Courtney Manor
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	432
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Creekside at Bellemeade
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	62
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Falcon Trace
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	404
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Hatteras Sound
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	125
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Las Villas de Kino I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	442
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Las Villas de Kino II
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	423
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Lexington Club
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	193
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Madelyn Oaks
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	362
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Oak Crest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	258
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Overlook at Simms Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	313
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Parkside Royal Poinciana
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	301
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Patriots Pointe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	65
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Ponce Harbor
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	113
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Reserves at Arboretum
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	197
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | River Reach
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	393
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Riverwalk
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	184
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Silver Hill
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	202
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Spinnaker Reach
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	608
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Stone Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	220
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Villa Biscayne
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	187
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Vista Haven
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	314
Multifamily | Southeast Affordable Housing Portfolio | Building and Building Improvements | Willow Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 68
Multifamily | Southeast Affordable Housing Portfolio II | Culpeper Commons
Real Estate And Accumulated Depreciation [Line Items]
Location	Culpeper, VA
Encumbrances	$ 12,483
Initial Cost, Land and Land Improvements	4,058
Initial Cost, Building and Building Improvements	13,749
Gross Amounts, Land and Land Improvements	4,058
Gross Amounts, Building and Building Improvements	13,797
Total	17,855
Accumulated Depreciation	$ (436)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | England Run
Real Estate And Accumulated Depreciation [Line Items]
Location	Fredericksburg, VA
Encumbrances	$ 18,812
Initial Cost, Land and Land Improvements	3,857
Initial Cost, Building and Building Improvements	23,614
Gross Amounts, Land and Land Improvements	3,862
Gross Amounts, Building and Building Improvements	23,692
Total	27,554
Accumulated Depreciation	$ (579)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Glen Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Elkton, MD
Encumbrances	$ 15,263
Initial Cost, Land and Land Improvements	5,985
Initial Cost, Building and Building Improvements	16,353
Gross Amounts, Land and Land Improvements	6,032
Gross Amounts, Building and Building Improvements	16,380
Total	22,412
Accumulated Depreciation	$ (545)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Glen Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Woodbridge, VA
Encumbrances	$ 21,667
Initial Cost, Land and Land Improvements	4,159
Initial Cost, Building and Building Improvements	27,218
Gross Amounts, Land and Land Improvements	4,175
Gross Amounts, Building and Building Improvements	27,329
Total	31,504
Accumulated Depreciation	$ (603)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Grande Court Boggy
Real Estate And Accumulated Depreciation [Line Items]
Location	Kissimmee, FL
Encumbrances	$ 34,904
Initial Cost, Land and Land Improvements	9,361
Initial Cost, Building and Building Improvements	41,265
Gross Amounts, Land and Land Improvements	9,382
Gross Amounts, Building and Building Improvements	41,349
Total	50,731
Accumulated Depreciation	$ (983)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Magnolia Creste
Real Estate And Accumulated Depreciation [Line Items]
Location	Dallas, GA
Encumbrances	$ 16,438
Initial Cost, Land and Land Improvements	2,650
Initial Cost, Building and Building Improvements	21,475
Gross Amounts, Land and Land Improvements	2,657
Gross Amounts, Building and Building Improvements	21,501
Total	24,158
Accumulated Depreciation	$ (537)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Magnolia Village
Real Estate And Accumulated Depreciation [Line Items]
Location	Lawrenceville, GA
Encumbrances	$ 15,783
Initial Cost, Land and Land Improvements	5,107
Initial Cost, Building and Building Improvements	16,645
Gross Amounts, Land and Land Improvements	5,125
Gross Amounts, Building and Building Improvements	16,680
Total	21,805
Accumulated Depreciation	$ (531)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Southeast Affordable Housing Portfolio II | Park Ridge I
Real Estate And Accumulated Depreciation [Line Items]
Location	Stafford, VA
Encumbrances	$ 20,255
Initial Cost, Land and Land Improvements	2,950
Initial Cost, Building and Building Improvements	20,536
Gross Amounts, Land and Land Improvements	2,950
Gross Amounts, Building and Building Improvements	20,578
Total	23,528
Accumulated Depreciation	$ (462)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | Southeast Affordable Housing Portfolio II | Park Ridge I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Stafford, VA
Initial Cost, Land and Land Improvements	$ 828
Initial Cost, Building and Building Improvements	5,153
Gross Amounts, Land and Land Improvements	828
Gross Amounts, Building and Building Improvements	5,171
Total	5,999
Accumulated Depreciation	$ (125)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | Southeast Affordable Housing Portfolio II | Rocky Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Greenville, SC
Encumbrances	$ 14,395
Initial Cost, Land and Land Improvements	3,030
Initial Cost, Building and Building Improvements	17,079
Gross Amounts, Land and Land Improvements	3,039
Gross Amounts, Building and Building Improvements	17,118
Total	20,157
Accumulated Depreciation	$ (449)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | England Run
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 5
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Glen Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	47
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Glen Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	16
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Grande Court Boggy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	21
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Magnolia Creste
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Magnolia Village
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	18
Multifamily | Southeast Affordable Housing Portfolio II | Land and Land Improvements | Rocky Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Culpeper Commons
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	48
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | England Run
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	78
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Glen Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	27
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Glen Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	111
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Grande Court Boggy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	84
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Magnolia Creste
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	26
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Magnolia Village
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	35
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Park Ridge I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	42
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Park Ridge I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	18
Multifamily | Southeast Affordable Housing Portfolio II | Building and Building Improvements | Rocky Creek
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 39
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Autumn Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Memphis, TN
Encumbrances	$ 7,547
Initial Cost, Land and Land Improvements	2,591
Initial Cost, Building and Building Improvements	7,180
Gross Amounts, Land and Land Improvements	2,633
Gross Amounts, Building and Building Improvements	7,298
Total	9,931
Accumulated Depreciation	$ (368)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Autumn Wind
Real Estate And Accumulated Depreciation [Line Items]
Location	Winchester, VA
Encumbrances	$ 9,840
Initial Cost, Land and Land Improvements	2,724
Initial Cost, Building and Building Improvements	10,005
Gross Amounts, Land and Land Improvements	2,756
Gross Amounts, Building and Building Improvements	10,077
Total	12,833
Accumulated Depreciation	$ (543)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Bridgeport
Real Estate And Accumulated Depreciation [Line Items]
Location	Hampton, VA
Encumbrances	$ 17,130
Initial Cost, Land and Land Improvements	4,285
Initial Cost, Building and Building Improvements	18,075
Gross Amounts, Land and Land Improvements	4,292
Gross Amounts, Building and Building Improvements	18,244
Total	22,536
Accumulated Depreciation	$ (799)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Cascade Village
Real Estate And Accumulated Depreciation [Line Items]
Location	Holland, MI
Encumbrances	$ 13,680
Initial Cost, Land and Land Improvements	3,389
Initial Cost, Building and Building Improvements	14,530
Gross Amounts, Land and Land Improvements	3,426
Gross Amounts, Building and Building Improvements	14,689
Total	18,115
Accumulated Depreciation	$ (704)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Chestnut Ridge I
Real Estate And Accumulated Depreciation [Line Items]
Location	Harrisonburg, VA
Encumbrances	$ 7,920
Initial Cost, Land and Land Improvements	2,694
Initial Cost, Building and Building Improvements	7,540
Gross Amounts, Land and Land Improvements	2,748
Gross Amounts, Building and Building Improvements	7,605
Total	10,353
Accumulated Depreciation	$ (425)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Chestnut Ridge I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Harrisonburg, VA
Encumbrances	$ 3,840
Initial Cost, Land and Land Improvements	1,328
Initial Cost, Building and Building Improvements	3,682
Gross Amounts, Land and Land Improvements	1,338
Gross Amounts, Building and Building Improvements	3,723
Total	5,061
Accumulated Depreciation	$ (213)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Columbia Hills
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbia, TN
Encumbrances	$ 9,740
Initial Cost, Land and Land Improvements	2,871
Initial Cost, Building and Building Improvements	9,816
Gross Amounts, Land and Land Improvements	2,962
Gross Amounts, Building and Building Improvements	10,137
Total	13,099
Accumulated Depreciation	$ (527)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Crestview
Real Estate And Accumulated Depreciation [Line Items]
Location	Fredericksburg, VA
Encumbrances	$ 26,720
Initial Cost, Land and Land Improvements	4,358
Initial Cost, Building and Building Improvements	30,470
Gross Amounts, Land and Land Improvements	4,405
Gross Amounts, Building and Building Improvements	30,626
Total	35,031
Accumulated Depreciation	$ (1,313)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Dominion Pines
Real Estate And Accumulated Depreciation [Line Items]
Location	Chesapeake, VA
Encumbrances	$ 11,755
Initial Cost, Land and Land Improvements	2,896
Initial Cost, Building and Building Improvements	12,516
Gross Amounts, Land and Land Improvements	2,896
Gross Amounts, Building and Building Improvements	12,676
Total	15,572
Accumulated Depreciation	$ (565)
Year Built	Dec. 31, 1994
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Falcon Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Rosenberg, TX
Encumbrances	$ 9,440
Initial Cost, Land and Land Improvements	1,876
Initial Cost, Building and Building Improvements	10,461
Gross Amounts, Land and Land Improvements	1,889
Gross Amounts, Building and Building Improvements	10,584
Total	12,473
Accumulated Depreciation	$ (536)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Foxridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Durham, NC
Encumbrances	$ 10,333
Initial Cost, Land and Land Improvements	2,524
Initial Cost, Building and Building Improvements	10,986
Gross Amounts, Land and Land Improvements	2,527
Gross Amounts, Building and Building Improvements	11,076
Total	13,603
Accumulated Depreciation	$ (539)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Genito Glen
Real Estate And Accumulated Depreciation [Line Items]
Location	Midlothian, VA
Encumbrances	$ 10,960
Initial Cost, Land and Land Improvements	2,703
Initial Cost, Building and Building Improvements	11,559
Gross Amounts, Land and Land Improvements	2,755
Gross Amounts, Building and Building Improvements	11,602
Total	14,357
Accumulated Depreciation	$ (555)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Kings Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Newport News, VA
Encumbrances	$ 15,572
Initial Cost, Land and Land Improvements	4,729
Initial Cost, Building and Building Improvements	15,539
Gross Amounts, Land and Land Improvements	4,851
Gross Amounts, Building and Building Improvements	15,730
Total	20,581
Accumulated Depreciation	$ (789)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Las Villas De Leon
Real Estate And Accumulated Depreciation [Line Items]
Location	San Antonio, TX
Encumbrances	$ 7,560
Initial Cost, Land and Land Improvements	2,347
Initial Cost, Building and Building Improvements	7,458
Gross Amounts, Land and Land Improvements	2,406
Gross Amounts, Building and Building Improvements	7,633
Total	10,039
Accumulated Depreciation	$ (408)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Landing At Markhams Grant I
Real Estate And Accumulated Depreciation [Line Items]
Location	Woodbridge, VA
Encumbrances	$ 12,556
Initial Cost, Land and Land Improvements	1,827
Initial Cost, Building and Building Improvements	14,664
Gross Amounts, Land and Land Improvements	1,851
Gross Amounts, Building and Building Improvements	14,723
Total	16,574
Accumulated Depreciation	$ (626)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Landing At Markhams Grant I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Woodbridge, VA
Encumbrances	$ 18,107
Initial Cost, Land and Land Improvements	3,198
Initial Cost, Building and Building Improvements	20,424
Gross Amounts, Land and Land Improvements	3,236
Gross Amounts, Building and Building Improvements	20,506
Total	23,742
Accumulated Depreciation	$ (897)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Landing At Markhams Grant I I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Woodbridge, VA
Encumbrances	$ 24,580
Initial Cost, Land and Land Improvements	3,592
Initial Cost, Building and Building Improvements	28,539
Gross Amounts, Land and Land Improvements	3,616
Gross Amounts, Building and Building Improvements	28,670
Total	32,286
Accumulated Depreciation	$ (1,149)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Ocean Gate
Real Estate And Accumulated Depreciation [Line Items]
Location	Virginia Beach, VA
Encumbrances	$ 20,080
Initial Cost, Land and Land Improvements	4,347
Initial Cost, Building and Building Improvements	21,957
Gross Amounts, Land and Land Improvements	4,378
Gross Amounts, Building and Building Improvements	22,105
Total	26,483
Accumulated Depreciation	$ (966)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Parkview
Real Estate And Accumulated Depreciation [Line Items]
Location	Huntersville, NC
Encumbrances	$ 11,191
Initial Cost, Land and Land Improvements	1,876
Initial Cost, Building and Building Improvements	12,739
Gross Amounts, Land and Land Improvements	1,888
Gross Amounts, Building and Building Improvements	12,760
Total	14,648
Accumulated Depreciation	$ (551)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | River Birch
Real Estate And Accumulated Depreciation [Line Items]
Location	Raleigh, NC
Encumbrances	$ 19,411
Initial Cost, Land and Land Improvements	4,168
Initial Cost, Building and Building Improvements	21,150
Gross Amounts, Land and Land Improvements	4,187
Gross Amounts, Building and Building Improvements	21,287
Total	25,474
Accumulated Depreciation	$ (891)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | River Park Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Vero Beach, FL
Encumbrances	$ 8,538
Initial Cost, Land and Land Improvements	2,661
Initial Cost, Building and Building Improvements	8,425
Gross Amounts, Land and Land Improvements	2,691
Gross Amounts, Building and Building Improvements	8,534
Total	11,225
Accumulated Depreciation	$ (442)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Soldiers Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Manassas, VA
Encumbrances	$ 20,092
Initial Cost, Land and Land Improvements	2,746
Initial Cost, Building and Building Improvements	23,544
Gross Amounts, Land and Land Improvements	2,759
Gross Amounts, Building and Building Improvements	23,656
Total	26,415
Accumulated Depreciation	$ (940)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | South Main
Real Estate And Accumulated Depreciation [Line Items]
Location	Manassas, VA
Encumbrances	$ 11,241
Initial Cost, Land and Land Improvements	2,001
Initial Cost, Building and Building Improvements	12,687
Gross Amounts, Land and Land Improvements	2,039
Gross Amounts, Building and Building Improvements	12,736
Total	14,775
Accumulated Depreciation	$ (560)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Sterling Crest
Real Estate And Accumulated Depreciation [Line Items]
Location	Saginaw, MI
Encumbrances	$ 8,800
Initial Cost, Land and Land Improvements	4,176
Initial Cost, Building and Building Improvements	7,229
Gross Amounts, Land and Land Improvements	4,231
Gross Amounts, Building and Building Improvements	7,322
Total	11,553
Accumulated Depreciation	$ (458)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Stonegate
Real Estate And Accumulated Depreciation [Line Items]
Location	Stafford, VA
Encumbrances	$ 28,880
Initial Cost, Land and Land Improvements	3,963
Initial Cost, Building and Building Improvements	33,721
Gross Amounts, Land and Land Improvements	4,006
Gross Amounts, Building and Building Improvements	33,809
Total	37,815
Accumulated Depreciation	$ (1,342)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Woodbridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Chesapeake, VA
Encumbrances	$ 15,125
Initial Cost, Land and Land Improvements	3,571
Initial Cost, Building and Building Improvements	16,250
Gross Amounts, Land and Land Improvements	3,582
Gross Amounts, Building and Building Improvements	16,374
Total	19,956
Accumulated Depreciation	$ (695)
Year Built	Dec. 31, 1994
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Woodburn I
Real Estate And Accumulated Depreciation [Line Items]
Location	Manassas, VA
Encumbrances	$ 24,112
Initial Cost, Land and Land Improvements	3,365
Initial Cost, Building and Building Improvements	28,215
Gross Amounts, Land and Land Improvements	3,378
Gross Amounts, Building and Building Improvements	28,320
Total	31,698
Accumulated Depreciation	$ (1,159)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Woodburn I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Manassas, VA
Encumbrances	$ 15,250
Initial Cost, Land and Land Improvements	2,525
Initial Cost, Building and Building Improvements	17,409
Gross Amounts, Land and Land Improvements	2,561
Gross Amounts, Building and Building Improvements	17,464
Total	20,025
Accumulated Depreciation	$ (739)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2020
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Autumn Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 42
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Autumn Wind
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	32
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Bridgeport
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Cascade Village
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	37
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Chestnut Ridge I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	54
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Chestnut Ridge I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	10
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Columbia Hills
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	91
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Crestview
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	47
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Falcon Pointe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Foxridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Genito Glen
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	52
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Kings Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	122
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Las Villas De Leon
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	59
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Landing At Markhams Grant I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	24
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Landing At Markhams Grant I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	38
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Landing At Markhams Grant I I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	24
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Ocean Gate
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	31
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Parkview
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	12
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | River Birch
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	19
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | River Park Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	30
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Soldiers Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | South Main
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	38
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Sterling Crest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	55
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Stonegate
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	43
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Woodbridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	11
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Woodburn I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Land and Land Improvements | Woodburn I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	36
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Autumn Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	118
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Autumn Wind
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	72
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Bridgeport
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	169
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Cascade Village
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	159
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Chestnut Ridge I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	65
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Chestnut Ridge I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	41
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Columbia Hills
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	321
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Crestview
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	156
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Dominion Pines
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	160
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Falcon Pointe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	123
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Foxridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	90
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Genito Glen
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	43
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Kings Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	191
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Las Villas De Leon
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	175
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Landing At Markhams Grant I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	59
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Landing At Markhams Grant I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	82
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Landing At Markhams Grant I I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	131
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Ocean Gate
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	148
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Parkview
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	21
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | River Birch
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	137
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | River Park Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	109
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Soldiers Ridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	112
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | South Main
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	49
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Sterling Crest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	93
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Stonegate
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	88
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Woodbridge
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	124
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Woodburn I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	105
Multifamily | Mid-Atlantic Affordable Housing Portfolio | Building and Building Improvements | Woodburn I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 55
Multifamily | Florida Affordable Housing Portfolio II | Leigh Meadows
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 24,172
Initial Cost, Land and Land Improvements	4,743
Initial Cost, Building and Building Improvements	26,758
Gross Amounts, Land and Land Improvements	4,830
Gross Amounts, Building and Building Improvements	29,648
Total	34,478
Accumulated Depreciation	$ (1,189)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2020
Multifamily | Florida Affordable Housing Portfolio II | Holly Cove
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 20,619
Initial Cost, Land and Land Improvements	3,854
Initial Cost, Building and Building Improvements	23,149
Gross Amounts, Land and Land Improvements	3,869
Gross Amounts, Building and Building Improvements	25,249
Total	29,118
Accumulated Depreciation	$ (1,073)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2020
Multifamily | Florida Affordable Housing Portfolio II | Thomas Chase
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 24,203
Initial Cost, Land and Land Improvements	4,307
Initial Cost, Building and Building Improvements	27,346
Gross Amounts, Land and Land Improvements	4,387
Gross Amounts, Building and Building Improvements	29,745
Total	34,132
Accumulated Depreciation	$ (1,171)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2020
Multifamily | Florida Affordable Housing Portfolio II | Camri Green
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 16,846
Initial Cost, Land and Land Improvements	3,695
Initial Cost, Building and Building Improvements	18,200
Gross Amounts, Land and Land Improvements	3,747
Gross Amounts, Building and Building Improvements	19,841
Total	23,588
Accumulated Depreciation	$ (895)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2020
Multifamily | Florida Affordable Housing Portfolio II | Land and Land Improvements | Leigh Meadows
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 87
Multifamily | Florida Affordable Housing Portfolio II | Land and Land Improvements | Holly Cove
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	15
Multifamily | Florida Affordable Housing Portfolio II | Land and Land Improvements | Thomas Chase
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	80
Multifamily | Florida Affordable Housing Portfolio II | Land and Land Improvements | Camri Green
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	52
Multifamily | Florida Affordable Housing Portfolio II | Building and Building Improvements | Leigh Meadows
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	2,890
Multifamily | Florida Affordable Housing Portfolio II | Building and Building Improvements | Holly Cove
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	2,100
Multifamily | Florida Affordable Housing Portfolio II | Building and Building Improvements | Thomas Chase
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	2,399
Multifamily | Florida Affordable Housing Portfolio II | Building and Building Improvements | Camri Green
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 1,641
Multifamily | Azalea Multifamily Portfolio | Luxe
Real Estate And Accumulated Depreciation [Line Items]
Location	Aubrey, TX
Encumbrances	$ 52,290
Initial Cost, Land and Land Improvements	10,084
Initial Cost, Building and Building Improvements	78,835
Gross Amounts, Land and Land Improvements	10,089
Gross Amounts, Building and Building Improvements	78,835
Total	88,924
Accumulated Depreciation	$ (1,221)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | 6162
Real Estate And Accumulated Depreciation [Line Items]
Location	Dallas, TX
Encumbrances	$ 35,630
Initial Cost, Land and Land Improvements	5,422
Initial Cost, Building and Building Improvements	56,079
Gross Amounts, Land and Land Improvements	5,422
Gross Amounts, Building and Building Improvements	56,079
Total	61,501
Accumulated Depreciation	$ (793)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Afton Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Concord, NC
Encumbrances	$ 46,500
Initial Cost, Land and Land Improvements	9,516
Initial Cost, Building and Building Improvements	62,919
Gross Amounts, Land and Land Improvements	9,516
Gross Amounts, Building and Building Improvements	62,919
Total	72,435
Accumulated Depreciation	$ (996)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Ariva
Real Estate And Accumulated Depreciation [Line Items]
Location	Lakeland, FL
Encumbrances	$ 51,899
Initial Cost, Land and Land Improvements	9,846
Initial Cost, Building and Building Improvements	57,063
Gross Amounts, Land and Land Improvements	9,852
Gross Amounts, Building and Building Improvements	57,305
Total	67,157
Accumulated Depreciation	$ (1,028)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Autumn Wood
Real Estate And Accumulated Depreciation [Line Items]
Location	Murfreesboro, TN
Encumbrances	$ 42,490
Initial Cost, Land and Land Improvements	6,114
Initial Cost, Building and Building Improvements	54,974
Gross Amounts, Land and Land Improvements	6,114
Gross Amounts, Building and Building Improvements	54,974
Total	61,088
Accumulated Depreciation	$ (895)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Clearbrook
Real Estate And Accumulated Depreciation [Line Items]
Location	Frederick, MD
Encumbrances	$ 62,090
Initial Cost, Land and Land Improvements	12,564
Initial Cost, Building and Building Improvements	51,451
Gross Amounts, Land and Land Improvements	12,577
Gross Amounts, Building and Building Improvements	51,457
Total	64,034
Accumulated Depreciation	$ (789)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Crosstown
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 58,695
Initial Cost, Land and Land Improvements	8,066
Initial Cost, Building and Building Improvements	65,753
Gross Amounts, Land and Land Improvements	8,066
Gross Amounts, Building and Building Improvements	65,762
Total	73,828
Accumulated Depreciation	$ (1,041)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Gwinnett Stadium
Real Estate And Accumulated Depreciation [Line Items]
Location	Lawrenceville, GA
Encumbrances	$ 41,090
Initial Cost, Land and Land Improvements	5,199
Initial Cost, Building and Building Improvements	48,131
Gross Amounts, Land and Land Improvements	5,240
Gross Amounts, Building and Building Improvements	48,131
Total	53,371
Accumulated Depreciation	$ (599)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Lake Highlands
Real Estate And Accumulated Depreciation [Line Items]
Location	Dallas, TX
Encumbrances	$ 48,510
Initial Cost, Land and Land Improvements	7,609
Initial Cost, Building and Building Improvements	69,591
Gross Amounts, Land and Land Improvements	7,609
Gross Amounts, Building and Building Improvements	69,591
Total	77,200
Accumulated Depreciation	$ (1,021)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Lakehouse
Real Estate And Accumulated Depreciation [Line Items]
Location	Plant City, FL
Encumbrances	$ 16,940
Initial Cost, Land and Land Improvements	3,334
Initial Cost, Building and Building Improvements	23,339
Gross Amounts, Land and Land Improvements	3,334
Gross Amounts, Building and Building Improvements	23,371
Total	26,705
Accumulated Depreciation	$ (390)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Millenia
Real Estate And Accumulated Depreciation [Line Items]
Location	Orlando, FL
Encumbrances	$ 36,890
Initial Cost, Land and Land Improvements	6,305
Initial Cost, Building and Building Improvements	47,647
Gross Amounts, Land and Land Improvements	6,328
Gross Amounts, Building and Building Improvements	47,647
Total	53,975
Accumulated Depreciation	$ (737)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Park Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Morrisville, NC
Encumbrances	$ 52,920
Initial Cost, Land and Land Improvements	9,295
Initial Cost, Building and Building Improvements	57,281
Gross Amounts, Land and Land Improvements	9,295
Gross Amounts, Building and Building Improvements	57,281
Total	66,576
Accumulated Depreciation	$ (944)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Stone Hill
Real Estate And Accumulated Depreciation [Line Items]
Location	Pflugerville, TX
Encumbrances	$ 48,790
Initial Cost, Land and Land Improvements	11,186
Initial Cost, Building and Building Improvements	67,934
Gross Amounts, Land and Land Improvements	11,186
Gross Amounts, Building and Building Improvements	67,970
Total	79,156
Accumulated Depreciation	$ (1,019)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Stone Hill Two
Real Estate And Accumulated Depreciation [Line Items]
Location	Pflugerville, TX
Encumbrances	$ 58,800
Initial Cost, Land and Land Improvements	13,420
Initial Cost, Building and Building Improvements	74,941
Gross Amounts, Land and Land Improvements	13,420
Gross Amounts, Building and Building Improvements	74,941
Total	88,361
Accumulated Depreciation	$ (1,169)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Thorton Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 66,616
Initial Cost, Land and Land Improvements	9,950
Initial Cost, Building and Building Improvements	91,924
Gross Amounts, Land and Land Improvements	9,955
Gross Amounts, Building and Building Improvements	92,025
Total	101,980
Accumulated Depreciation	$ (1,375)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Travesia
Real Estate And Accumulated Depreciation [Line Items]
Location	Austin, TX
Encumbrances	$ 75,460
Initial Cost, Land and Land Improvements	13,787
Initial Cost, Building and Building Improvements	79,703
Gross Amounts, Land and Land Improvements	13,787
Gross Amounts, Building and Building Improvements	79,703
Total	93,490
Accumulated Depreciation	$ (1,224)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Victoria Grand
Real Estate And Accumulated Depreciation [Line Items]
Location	Tallahassee, FL
Encumbrances	$ 47,390
Initial Cost, Land and Land Improvements	7,002
Initial Cost, Building and Building Improvements	61,768
Gross Amounts, Land and Land Improvements	7,002
Gross Amounts, Building and Building Improvements	61,768
Total	68,770
Accumulated Depreciation	$ (967)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Keystone Castle Hills
Real Estate And Accumulated Depreciation [Line Items]
Location	Dallas, TX
Encumbrances	$ 76,513
Initial Cost, Land and Land Improvements	23,122
Initial Cost, Building and Building Improvements	99,118
Gross Amounts, Land and Land Improvements	23,194
Gross Amounts, Building and Building Improvements	99,488
Total	122,682
Accumulated Depreciation	$ (2,071)
Year Built	Dec. 31, 1992
Year Acquired	Dec. 31, 2021
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Luxe
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 5
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Ariva
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	6
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Clearbrook
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Gwinnett Stadium
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	41
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Millenia
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	23
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Thorton Park
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	5
Multifamily | Azalea Multifamily Portfolio | Land and Land Improvements | Keystone Castle Hills
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	72
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Ariva
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	242
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Clearbrook
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	6
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Crosstown
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Lakehouse
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	32
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Stone Hill
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	36
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Thorton Park
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	101
Multifamily | Azalea Multifamily Portfolio | Building and Building Improvements | Keystone Castle Hills
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 370
Multifamily | Greater Boston Affordable Portfolio | Chestnut Farms
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 48,748
Initial Cost, Land and Land Improvements	17,400
Initial Cost, Building and Building Improvements	50,444
Gross Amounts, Land and Land Improvements	17,400
Gross Amounts, Building and Building Improvements	50,444
Total	67,844
Accumulated Depreciation	$ (432)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Multifamily | Greater Boston Affordable Portfolio | Franklin Commons
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 18,302
Initial Cost, Land and Land Improvements	7,326
Initial Cost, Building and Building Improvements	17,134
Gross Amounts, Land and Land Improvements	7,326
Gross Amounts, Building and Building Improvements	17,134
Total	24,460
Accumulated Depreciation	$ (213)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2021
Multifamily | Greater Boston Affordable Portfolio | Parkway Heights
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 16,627
Initial Cost, Land and Land Improvements	5,185
Initial Cost, Building and Building Improvements	16,959
Gross Amounts, Land and Land Improvements	5,185
Gross Amounts, Building and Building Improvements	16,972
Total	22,157
Accumulated Depreciation	$ (162)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Greater Boston Affordable Portfolio | Quail Run
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 26,579
Initial Cost, Land and Land Improvements	9,229
Initial Cost, Building and Building Improvements	27,923
Gross Amounts, Land and Land Improvements	9,229
Gross Amounts, Building and Building Improvements	27,927
Total	37,156
Accumulated Depreciation	$ (302)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Greater Boston Affordable Portfolio | The Preserve at Walpole
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 33,378
Initial Cost, Land and Land Improvements	21,173
Initial Cost, Building and Building Improvements	64,389
Gross Amounts, Land and Land Improvements	21,173
Gross Amounts, Building and Building Improvements	64,389
Total	85,562
Accumulated Depreciation	$ (523)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Multifamily | Greater Boston Affordable Portfolio | Building and Building Improvements | Parkway Heights
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 13
Multifamily | Greater Boston Affordable Portfolio | Building and Building Improvements | Quail Run
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 4
Multifamily | Columbus Preferred Portfolio | 5188 Baxter Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Westerville, OH
Encumbrances	$ 21,700
Initial Cost, Land and Land Improvements	6,795
Initial Cost, Building and Building Improvements	23,058
Gross Amounts, Land and Land Improvements	6,795
Gross Amounts, Building and Building Improvements	23,058
Total	29,853
Accumulated Depreciation	$ (203)
Year Built	Dec. 31, 2021
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | 1025 Luxe Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 45,500
Initial Cost, Land and Land Improvements	7,955
Initial Cost, Building and Building Improvements	43,178
Gross Amounts, Land and Land Improvements	7,955
Gross Amounts, Building and Building Improvements	43,178
Total	51,133
Accumulated Depreciation	$ (340)
Year Built	Dec. 31, 2021
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | The Palmer Dadeland
Real Estate And Accumulated Depreciation [Line Items]
Location	Miami, FL
Encumbrances	$ 259,800
Initial Cost, Land and Land Improvements	56,854
Initial Cost, Building and Building Improvements	304,585
Gross Amounts, Land and Land Improvements	56,854
Gross Amounts, Building and Building Improvements	304,591
Total	361,445
Accumulated Depreciation	$ (2,913)
Year Built	Dec. 31, 2020
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | Seven Springs Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Burlington, MA
Encumbrances	$ 117,110
Initial Cost, Land and Land Improvements	27,104
Initial Cost, Building and Building Improvements	164,679
Gross Amounts, Land and Land Improvements	27,104
Gross Amounts, Building and Building Improvements	164,691
Total	191,795
Accumulated Depreciation	$ (1,445)
Year Built	Dec. 31, 2020
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | Maison's Landing
Real Estate And Accumulated Depreciation [Line Items]
Location	Salt Lake City, UT
Encumbrances	$ 102,120
Initial Cost, Land and Land Improvements	14,890
Initial Cost, Building and Building Improvements	152,592
Gross Amounts, Land and Land Improvements	14,893
Gross Amounts, Building and Building Improvements	152,608
Total	167,501
Accumulated Depreciation	$ (1,454)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | Sawyer Flats
Real Estate And Accumulated Depreciation [Line Items]
Location	Gaithersburg, MD
Encumbrances	$ 144,060
Initial Cost, Land and Land Improvements	32,701
Initial Cost, Building and Building Improvements	168,846
Gross Amounts, Land and Land Improvements	32,701
Gross Amounts, Building and Building Improvements	168,883
Total	201,584
Accumulated Depreciation	$ (1,145)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | Columbus Preferred Portfolio | Land and Land Improvements | Maison's Landing
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 3
Multifamily | Columbus Preferred Portfolio | Building and Building Improvements | The Palmer Dadeland
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	6
Multifamily | Columbus Preferred Portfolio | Building and Building Improvements | Seven Springs Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	12
Multifamily | Columbus Preferred Portfolio | Building and Building Improvements | Maison's Landing
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	16
Multifamily | Columbus Preferred Portfolio | Building and Building Improvements | Sawyer Flats
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 37
Multifamily | Florida Affordable Housing Portfolio III | Cedar Forest
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 24,810
Initial Cost, Land and Land Improvements	7,652
Initial Cost, Building and Building Improvements	36,361
Gross Amounts, Land and Land Improvements	7,652
Gross Amounts, Building and Building Improvements	36,366
Total	44,018
Accumulated Depreciation	$ (179)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Charleston Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Holly Hill, FL
Encumbrances	$ 17,520
Initial Cost, Land and Land Improvements	5,930
Initial Cost, Building and Building Improvements	21,309
Gross Amounts, Land and Land Improvements	5,930
Gross Amounts, Building and Building Improvements	21,311
Total	27,241
Accumulated Depreciation	$ (115)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Club at Sugar Mill
Real Estate And Accumulated Depreciation [Line Items]
Location	Port Orange, FL
Encumbrances	$ 14,260
Initial Cost, Land and Land Improvements	4,449
Initial Cost, Building and Building Improvements	15,946
Gross Amounts, Land and Land Improvements	4,449
Gross Amounts, Building and Building Improvements	15,947
Total	20,396
Accumulated Depreciation	$ (86)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Gardens at Rose Harbor
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 16,680
Initial Cost, Land and Land Improvements	5,659
Initial Cost, Building and Building Improvements	21,524
Gross Amounts, Land and Land Improvements	5,659
Gross Amounts, Building and Building Improvements	21,524
Total	27,183
Accumulated Depreciation	$ (105)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Nantucket Bay
Real Estate And Accumulated Depreciation [Line Items]
Location	Temple Terrace, FL
Encumbrances	$ 15,150
Initial Cost, Land and Land Improvements	6,364
Initial Cost, Building and Building Improvements	18,782
Gross Amounts, Land and Land Improvements	6,364
Gross Amounts, Building and Building Improvements	18,783
Total	25,147
Accumulated Depreciation	$ (98)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Savannah Bay
Real Estate And Accumulated Depreciation [Line Items]
Location	Tarpon Springs, FL
Encumbrances	$ 12,610
Initial Cost, Land and Land Improvements	5,374
Initial Cost, Building and Building Improvements	9,640
Gross Amounts, Land and Land Improvements	5,374
Gross Amounts, Building and Building Improvements	9,641
Total	15,015
Accumulated Depreciation	$ (65)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Villas at Newport Landing
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 14,260
Initial Cost, Land and Land Improvements	4,737
Initial Cost, Building and Building Improvements	17,754
Gross Amounts, Land and Land Improvements	4,737
Gross Amounts, Building and Building Improvements	17,754
Total	22,491
Accumulated Depreciation	$ (92)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Williams Landing
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 12,110
Initial Cost, Land and Land Improvements	5,232
Initial Cost, Building and Building Improvements	14,576
Gross Amounts, Land and Land Improvements	5,232
Gross Amounts, Building and Building Improvements	14,579
Total	19,811
Accumulated Depreciation	$ (78)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Williams Villas
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 5,750
Initial Cost, Land and Land Improvements	2,996
Initial Cost, Building and Building Improvements	6,417
Gross Amounts, Land and Land Improvements	2,996
Gross Amounts, Building and Building Improvements	6,417
Total	9,413
Accumulated Depreciation	$ (39)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Brookwood Forest
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 23,560
Initial Cost, Land and Land Improvements	4,250
Initial Cost, Building and Building Improvements	35,025
Gross Amounts, Land and Land Improvements	4,250
Gross Amounts, Building and Building Improvements	35,028
Total	39,278
Accumulated Depreciation	$ (154)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Cambridge Cove
Real Estate And Accumulated Depreciation [Line Items]
Location	Lakeland, FL
Encumbrances	$ 29,180
Initial Cost, Land and Land Improvements	4,688
Initial Cost, Building and Building Improvements	42,497
Gross Amounts, Land and Land Improvements	4,688
Gross Amounts, Building and Building Improvements	42,500
Total	47,188
Accumulated Depreciation	$ (188)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Enclave on Woodbridge
Real Estate And Accumulated Depreciation [Line Items]
Location	Fernandina Beach, FL
Encumbrances	$ 25,690
Initial Cost, Land and Land Improvements	6,407
Initial Cost, Building and Building Improvements	36,228
Gross Amounts, Land and Land Improvements	6,407
Gross Amounts, Building and Building Improvements	36,228
Total	42,635
Accumulated Depreciation	$ (178)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Kathleen Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Lakeland, FL
Encumbrances	$ 7,900
Initial Cost, Land and Land Improvements	2,424
Initial Cost, Building and Building Improvements	15,304
Gross Amounts, Land and Land Improvements	2,424
Gross Amounts, Building and Building Improvements	15,304
Total	17,728
Accumulated Depreciation	$ (74)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Nantucket Cove
Real Estate And Accumulated Depreciation [Line Items]
Location	Springhill, FL
Encumbrances	$ 15,800
Initial Cost, Land and Land Improvements	4,592
Initial Cost, Building and Building Improvements	20,167
Gross Amounts, Land and Land Improvements	4,592
Gross Amounts, Building and Building Improvements	20,167
Total	24,759
Accumulated Depreciation	$ (106)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Preserve on 51st
Real Estate And Accumulated Depreciation [Line Items]
Location	Bradenton, FL
Encumbrances	$ 35,240
Initial Cost, Land and Land Improvements	9,401
Initial Cost, Building and Building Improvements	46,158
Gross Amounts, Land and Land Improvements	9,401
Gross Amounts, Building and Building Improvements	46,160
Total	55,561
Accumulated Depreciation	$ (230)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Venue at Lockwood
Real Estate And Accumulated Depreciation [Line Items]
Location	Bradenton, FL
Encumbrances	$ 40,050
Initial Cost, Land and Land Improvements	11,559
Initial Cost, Building and Building Improvements	54,891
Gross Amounts, Land and Land Improvements	11,559
Gross Amounts, Building and Building Improvements	54,891
Total	66,450
Accumulated Depreciation	$ (273)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Cedar Forest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 5
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Charleston Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	2
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Club at Sugar Mill
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Nantucket Bay
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Savannah Bay
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Williams Landing
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Brookwood Forest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Cambridge Cove
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3
Multifamily | Florida Affordable Housing Portfolio III | Building and Building Improvements | Preserve on 51st
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 2
Multifamily | Raleigh Multifamily Portfolio | 3201 Walnut Creek Parkway
Real Estate And Accumulated Depreciation [Line Items]
Location	Raleigh, NC
Encumbrances	$ 84,534
Initial Cost, Land and Land Improvements	16,288
Initial Cost, Building and Building Improvements	109,108
Gross Amounts, Land and Land Improvements	16,288
Gross Amounts, Building and Building Improvements	109,123
Total	125,411
Accumulated Depreciation	$ (407)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | 2600 Harvest Creek Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Cary, NC
Encumbrances	$ 62,425
Initial Cost, Land and Land Improvements	16,094
Initial Cost, Building and Building Improvements	77,575
Gross Amounts, Land and Land Improvements	16,094
Gross Amounts, Building and Building Improvements	77,599
Total	93,693
Accumulated Depreciation	$ (305)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | 1000 Henrico Lane
Real Estate And Accumulated Depreciation [Line Items]
Location	Morrisville, NC
Encumbrances	$ 65,677
Initial Cost, Land and Land Improvements	12,383
Initial Cost, Building and Building Improvements	86,037
Gross Amounts, Land and Land Improvements	12,383
Gross Amounts, Building and Building Improvements	86,059
Total	98,442
Accumulated Depreciation	$ (344)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | 5140 Copper Ridge Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Durham, NC
Encumbrances	$ 41,617
Initial Cost, Land and Land Improvements	8,733
Initial Cost, Building and Building Improvements	53,561
Gross Amounts, Land and Land Improvements	8,733
Gross Amounts, Building and Building Improvements	53,566
Total	62,299
Accumulated Depreciation	$ (220)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | 100-1700 Lake Front Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Raleigh, NC
Encumbrances	$ 65,027
Initial Cost, Land and Land Improvements	14,875
Initial Cost, Building and Building Improvements	81,696
Gross Amounts, Land and Land Improvements	14,875
Gross Amounts, Building and Building Improvements	81,716
Total	96,591
Accumulated Depreciation	$ (335)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | 3004 Dorner Circle
Real Estate And Accumulated Depreciation [Line Items]
Location	Raleigh, NC
Encumbrances	$ 48,120
Initial Cost, Land and Land Improvements	9,328
Initial Cost, Building and Building Improvements	62,187
Gross Amounts, Land and Land Improvements	9,328
Gross Amounts, Building and Building Improvements	62,196
Total	71,524
Accumulated Depreciation	$ (227)
Year Built	Dec. 31, 1982
Year Acquired	Dec. 31, 2021
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 3201 Walnut Creek Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 15
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 2600 Harvest Creek Place
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	24
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 1000 Henrico Lane
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	22
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 5140 Copper Ridge Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	5
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 100-1700 Lake Front Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	20
Multifamily | Raleigh Multifamily Portfolio | Building and Building Improvements | 3004 Dorner Circle
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 9
Multifamily | Carroll South Florida | Bella Vista
Real Estate And Accumulated Depreciation [Line Items]
Location	Boca Raton, FL
Encumbrances	$ 90,836
Initial Cost, Land and Land Improvements	13,144
Initial Cost, Building and Building Improvements	125,094
Gross Amounts, Land and Land Improvements	13,144
Gross Amounts, Building and Building Improvements	125,094
Total	138,238
Accumulated Depreciation	$ (393)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | Carroll South Florida | Centro Sunforest
Real Estate And Accumulated Depreciation [Line Items]
Location	Davie, FL
Encumbrances	$ 114,422
Initial Cost, Land and Land Improvements	25,015
Initial Cost, Building and Building Improvements	152,738
Gross Amounts, Land and Land Improvements	25,015
Gross Amounts, Building and Building Improvements	153,035
Total	178,050
Accumulated Depreciation	$ (493)
Year Built	Dec. 31, 1989
Year Acquired	Dec. 31, 2021
Multifamily | Carroll South Florida | Stonybrook
Real Estate And Accumulated Depreciation [Line Items]
Location	Boynton Beach, FL
Encumbrances	$ 61,142
Initial Cost, Land and Land Improvements	12,346
Initial Cost, Building and Building Improvements	81,036
Gross Amounts, Land and Land Improvements	12,346
Gross Amounts, Building and Building Improvements	81,036
Total	93,382
Accumulated Depreciation	$ (227)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | Carroll South Florida | Building and Building Improvements | Centro Sunforest
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 297
Multifamily | SEG Multifamily Portfolio | Alta Mill Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Austell, GA
Encumbrances	$ 63,100
Initial Cost, Land and Land Improvements	13,213
Initial Cost, Building and Building Improvements	82,343
Gross Amounts, Land and Land Improvements	13,213
Gross Amounts, Building and Building Improvements	82,343
Total	95,556
Accumulated Depreciation	$ (298)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Arnada Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Vancouver, WA
Encumbrances	$ 30,600
Initial Cost, Land and Land Improvements	7,127
Initial Cost, Building and Building Improvements	45,385
Gross Amounts, Land and Land Improvements	7,127
Gross Amounts, Building and Building Improvements	45,385
Total	52,512
Accumulated Depreciation	$ (164)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Ashmore Bridge Estates Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Mauldin, SC
Encumbrances	$ 27,400
Initial Cost, Land and Land Improvements	5,548
Initial Cost, Building and Building Improvements	42,280
Gross Amounts, Land and Land Improvements	5,548
Gross Amounts, Building and Building Improvements	42,280
Total	47,828
Accumulated Depreciation	$ (149)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Audubon Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Hanahan, SC
Encumbrances	$ 26,200
Initial Cost, Land and Land Improvements	5,397
Initial Cost, Building and Building Improvements	33,706
Gross Amounts, Land and Land Improvements	5,397
Gross Amounts, Building and Building Improvements	33,706
Total	39,103
Accumulated Depreciation	$ (123)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Bradford Place Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Warner Robins, GA
Encumbrances	$ 22,300
Initial Cost, Land and Land Improvements	4,687
Initial Cost, Building and Building Improvements	29,271
Gross Amounts, Land and Land Improvements	4,687
Gross Amounts, Building and Building Improvements	29,271
Total	33,958
Accumulated Depreciation	$ (106)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Brandemere
Real Estate And Accumulated Depreciation [Line Items]
Location	Salem, NC
Encumbrances	$ 24,600
Initial Cost, Land and Land Improvements	5,274
Initial Cost, Building and Building Improvements	32,967
Gross Amounts, Land and Land Improvements	5,274
Gross Amounts, Building and Building Improvements	32,967
Total	38,241
Accumulated Depreciation	$ (119)
Year Built	Dec. 31, 1983
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Brook Valley Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Douglasville, GA
Encumbrances	$ 23,000
Initial Cost, Land and Land Improvements	4,837
Initial Cost, Building and Building Improvements	30,158
Gross Amounts, Land and Land Improvements	4,837
Gross Amounts, Building and Building Improvements	30,158
Total	34,995
Accumulated Depreciation	$ (110)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Brookmont
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 12,800
Initial Cost, Land and Land Improvements	3,102
Initial Cost, Building and Building Improvements	19,366
Gross Amounts, Land and Land Improvements	3,102
Gross Amounts, Building and Building Improvements	19,366
Total	22,468
Accumulated Depreciation	$ (70)
Year Built	Dec. 31, 1977
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Cascadia Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Everett, WA
Encumbrances	$ 18,900
Initial Cost, Land and Land Improvements	4,584
Initial Cost, Building and Building Improvements	28,975
Gross Amounts, Land and Land Improvements	4,584
Gross Amounts, Building and Building Improvements	28,975
Total	33,559
Accumulated Depreciation	$ (105)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Cherrywood Village
Real Estate And Accumulated Depreciation [Line Items]
Location	Parker, CO
Encumbrances	$ 72,400
Initial Cost, Land and Land Improvements	16,807
Initial Cost, Building and Building Improvements	125,363
Gross Amounts, Land and Land Improvements	16,807
Gross Amounts, Building and Building Improvements	125,363
Total	142,170
Accumulated Depreciation	$ (444)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Coachman's Landing
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 15,900
Initial Cost, Land and Land Improvements	3,594
Initial Cost, Building and Building Improvements	22,471
Gross Amounts, Land and Land Improvements	3,594
Gross Amounts, Building and Building Improvements	22,471
Total	26,065
Accumulated Depreciation	$ (82)
Year Built	Dec. 31, 1989
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Crossland
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 12,000
Initial Cost, Land and Land Improvements	2,815
Initial Cost, Building and Building Improvements	17,592
Gross Amounts, Land and Land Improvements	2,815
Gross Amounts, Building and Building Improvements	17,592
Total	20,407
Accumulated Depreciation	$ (64)
Year Built	Dec. 31, 1978
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Cypress Pointe Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, NC
Encumbrances	$ 19,400
Initial Cost, Land and Land Improvements	4,045
Initial Cost, Building and Building Improvements	25,280
Gross Amounts, Land and Land Improvements	4,045
Gross Amounts, Building and Building Improvements	25,280
Total	29,325
Accumulated Depreciation	$ (91)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Durant at Sugarloaf Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Lawrenceville, GA
Encumbrances	$ 40,000
Initial Cost, Land and Land Improvements	8,390
Initial Cost, Building and Building Improvements	52,333
Gross Amounts, Land and Land Improvements	8,390
Gross Amounts, Building and Building Improvements	52,335
Total	60,725
Accumulated Depreciation	$ (190)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Eagle Point Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Knoxville, TN
Encumbrances	$ 62,000
Initial Cost, Land and Land Improvements	13,076
Initial Cost, Building and Building Improvements	151,382
Gross Amounts, Land and Land Improvements	13,076
Gross Amounts, Building and Building Improvements	151,382
Total	164,458
Accumulated Depreciation	$ (513)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Eastchester Ridge
Real Estate And Accumulated Depreciation [Line Items]
Location	High Point, NC
Encumbrances	$ 12,900
Initial Cost, Land and Land Improvements	2,746
Initial Cost, Building and Building Improvements	17,149
Gross Amounts, Land and Land Improvements	2,746
Gross Amounts, Building and Building Improvements	17,149
Total	19,895
Accumulated Depreciation	$ (62)
Year Built	Dec. 31, 1980
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Estate on Quarry Lake Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Austin, TX
Encumbrances	$ 45,500
Initial Cost, Land and Land Improvements	9,565
Initial Cost, Building and Building Improvements	59,725
Gross Amounts, Land and Land Improvements	9,565
Gross Amounts, Building and Building Improvements	59,725
Total	69,290
Accumulated Depreciation	$ (216)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Estates at Bellwood Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Greenville, SC
Encumbrances	$ 15,300
Initial Cost, Land and Land Improvements	3,266
Initial Cost, Building and Building Improvements	20,401
Gross Amounts, Land and Land Improvements	3,266
Gross Amounts, Building and Building Improvements	20,401
Total	23,667
Accumulated Depreciation	$ (74)
Year Built	Dec. 31, 1992
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Falls at Sope Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Marietta, GA
Encumbrances	$ 60,300
Initial Cost, Land and Land Improvements	12,667
Initial Cost, Building and Building Improvements	78,943
Gross Amounts, Land and Land Improvements	12,667
Gross Amounts, Building and Building Improvements	78,943
Total	91,610
Accumulated Depreciation	$ (287)
Year Built	Dec. 31, 1982
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Forest Ridge Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Knoxville, TN
Encumbrances	$ 76,800
Initial Cost, Land and Land Improvements	16,055
Initial Cost, Building and Building Improvements	185,975
Gross Amounts, Land and Land Improvements	16,055
Gross Amounts, Building and Building Improvements	185,975
Total	202,030
Accumulated Depreciation	$ (630)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Fox Chase
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 21,700
Initial Cost, Land and Land Improvements	5,630
Initial Cost, Building and Building Improvements	35,037
Gross Amounts, Land and Land Improvements	5,630
Gross Amounts, Building and Building Improvements	35,037
Total	40,667
Accumulated Depreciation	$ (128)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Fox Hollow
Real Estate And Accumulated Depreciation [Line Items]
Location	High Point, NC
Encumbrances	$ 14,100
Initial Cost, Land and Land Improvements	3,102
Initial Cost, Building and Building Improvements	19,366
Gross Amounts, Land and Land Improvements	3,102
Gross Amounts, Building and Building Improvements	19,366
Total	22,468
Accumulated Depreciation	$ (70)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Fulton's Crossing
Real Estate And Accumulated Depreciation [Line Items]
Location	Everett, WA
Encumbrances	$ 80,800
Initial Cost, Land and Land Improvements	17,927
Initial Cost, Building and Building Improvements	112,945
Gross Amounts, Land and Land Improvements	17,927
Gross Amounts, Building and Building Improvements	112,945
Total	130,872
Accumulated Depreciation	$ (409)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Galleria Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Warner Robins, GA
Encumbrances	$ 16,700
Initial Cost, Land and Land Improvements	3,484
Initial Cost, Building and Building Improvements	21,732
Gross Amounts, Land and Land Improvements	3,484
Gross Amounts, Building and Building Improvements	21,732
Total	25,216
Accumulated Depreciation	$ (78)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Gio Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Plano, TX
Encumbrances	$ 86,900
Initial Cost, Land and Land Improvements	22,546
Initial Cost, Building and Building Improvements	140,590
Gross Amounts, Land and Land Improvements	22,546
Gross Amounts, Building and Building Improvements	140,590
Total	163,136
Accumulated Depreciation	$ (510)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Gleneagles
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 35,800
Initial Cost, Land and Land Improvements	7,665
Initial Cost, Building and Building Improvements	47,750
Gross Amounts, Land and Land Improvements	7,665
Gross Amounts, Building and Building Improvements	47,750
Total	55,415
Accumulated Depreciation	$ (173)
Year Built	Dec. 31, 2009
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Grande Club Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Duluth, GA
Encumbrances	$ 36,200
Initial Cost, Land and Land Improvements	7,884
Initial Cost, Building and Building Improvements	49,229
Gross Amounts, Land and Land Improvements	7,884
Gross Amounts, Building and Building Improvements	50,063
Total	57,947
Accumulated Depreciation	$ (179)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Grande Oaks
Real Estate And Accumulated Depreciation [Line Items]
Location	Roswell, GA
Encumbrances	$ 44,600
Initial Cost, Land and Land Improvements	9,373
Initial Cost, Building and Building Improvements	58,394
Gross Amounts, Land and Land Improvements	9,373
Gross Amounts, Building and Building Improvements	58,394
Total	67,767
Accumulated Depreciation	$ (212)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Grove Veridian
Real Estate And Accumulated Depreciation [Line Items]
Location	Spartanburg, NC
Encumbrances	$ 12,100
Initial Cost, Land and Land Improvements	2,555
Initial Cost, Building and Building Improvements	15,966
Gross Amounts, Land and Land Improvements	2,555
Gross Amounts, Building and Building Improvements	16,430
Total	18,985
Accumulated Depreciation	$ (58)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Waterford Landing Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Hermitage, TN
Encumbrances	$ 25,800
Initial Cost, Land and Land Improvements	5,616
Initial Cost, Building and Building Improvements	64,899
Gross Amounts, Land and Land Improvements	5,616
Gross Amounts, Building and Building Improvements	64,899
Total	70,515
Accumulated Depreciation	$ (219)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Hunter's Run
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 13,600
Initial Cost, Land and Land Improvements	3,238
Initial Cost, Building and Building Improvements	20,253
Gross Amounts, Land and Land Improvements	3,238
Gross Amounts, Building and Building Improvements	20,253
Total	23,491
Accumulated Depreciation	$ (74)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Waterstone at Murietta Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Murieta, CA
Encumbrances	$ 83,300
Initial Cost, Land and Land Improvements	18,884
Initial Cost, Building and Building Improvements	117,823
Gross Amounts, Land and Land Improvements	18,884
Gross Amounts, Building and Building Improvements	117,823
Total	136,707
Accumulated Depreciation	$ (428)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Icon on the Greenway
Real Estate And Accumulated Depreciation [Line Items]
Location	Gastonia, NC
Encumbrances	$ 24,800
Initial Cost, Land and Land Improvements	5,110
Initial Cost, Building and Building Improvements	31,932
Gross Amounts, Land and Land Improvements	5,110
Gross Amounts, Building and Building Improvements	31,932
Total	37,042
Accumulated Depreciation	$ (116)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Woodland Crossing Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	New Bern, NC
Encumbrances	$ 23,900
Initial Cost, Land and Land Improvements	5,261
Initial Cost, Building and Building Improvements	32,819
Gross Amounts, Land and Land Improvements	5,261
Gross Amounts, Building and Building Improvements	32,819
Total	38,080
Accumulated Depreciation	$ (119)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Lee's Crossing
Real Estate And Accumulated Depreciation [Line Items]
Location	La Grange, GA
Encumbrances	$ 28,800
Initial Cost, Land and Land Improvements	6,053
Initial Cost, Building and Building Improvements	37,698
Gross Amounts, Land and Land Improvements	6,053
Gross Amounts, Building and Building Improvements	37,698
Total	43,751
Accumulated Depreciation	$ (137)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Woodland Park Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Greensboro, NC
Encumbrances	$ 15,000
Initial Cost, Land and Land Improvements	3,484
Initial Cost, Building and Building Improvements	27,201
Gross Amounts, Land and Land Improvements	3,484
Gross Amounts, Building and Building Improvements	27,201
Total	30,685
Accumulated Depreciation	$ (95)
Year Built	Dec. 31, 1984
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Links at Gleneagles
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 38,500
Initial Cost, Land and Land Improvements	8,308
Initial Cost, Building and Building Improvements	51,742
Gross Amounts, Land and Land Improvements	8,308
Gross Amounts, Building and Building Improvements	51,742
Total	60,050
Accumulated Depreciation	$ (188)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Wyndchase Bellevue Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Nashville, TN
Encumbrances	$ 31,300
Initial Cost, Land and Land Improvements	6,531
Initial Cost, Building and Building Improvements	75,691
Gross Amounts, Land and Land Improvements	6,531
Gross Amounts, Building and Building Improvements	75,691
Total	82,222
Accumulated Depreciation	$ (256)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Lodge at Mallard Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Charlotte, NC
Encumbrances	$ 35,600
Initial Cost, Land and Land Improvements	7,816
Initial Cost, Building and Building Improvements	48,785
Gross Amounts, Land and Land Improvements	7,816
Gross Amounts, Building and Building Improvements	48,785
Total	56,601
Accumulated Depreciation	$ (177)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Mirabella
Real Estate And Accumulated Depreciation [Line Items]
Location	Everett, WA
Encumbrances	$ 20,400
Initial Cost, Land and Land Improvements	4,826
Initial Cost, Building and Building Improvements	30,454
Gross Amounts, Land and Land Improvements	4,826
Gross Amounts, Building and Building Improvements	30,454
Total	35,280
Accumulated Depreciation	$ (110)
Year Built	Dec. 31, 1989
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | New Forest
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 34,800
Initial Cost, Land and Land Improvements	7,324
Initial Cost, Building and Building Improvements	45,681
Gross Amounts, Land and Land Improvements	7,324
Gross Amounts, Building and Building Improvements	45,681
Total	53,005
Accumulated Depreciation	$ (166)
Year Built	Dec. 31, 1988
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Nickel Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Lynnwood, WA
Encumbrances	$ 33,300
Initial Cost, Land and Land Improvements	8,062
Initial Cost, Building and Building Improvements	50,855
Gross Amounts, Land and Land Improvements	8,062
Gross Amounts, Building and Building Improvements	50,855
Total	58,917
Accumulated Depreciation	$ (184)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Nines Gleneagles
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 20,200
Initial Cost, Land and Land Improvements	4,154
Initial Cost, Building and Building Improvements	25,871
Gross Amounts, Land and Land Improvements	4,154
Gross Amounts, Building and Building Improvements	25,871
Total	30,025
Accumulated Depreciation	$ (94)
Year Built	Dec. 31, 2011
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Northtown Village Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Hixson, TN
Encumbrances	$ 17,500
Initial Cost, Land and Land Improvements	3,621
Initial Cost, Building and Building Improvements	41,985
Gross Amounts, Land and Land Improvements	3,621
Gross Amounts, Building and Building Improvements	41,985
Total	45,606
Accumulated Depreciation	$ (142)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Northwood Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Macon, GA
Encumbrances	$ 21,000
Initial Cost, Land and Land Improvements	4,400
Initial Cost, Building and Building Improvements	27,497
Gross Amounts, Land and Land Improvements	4,400
Gross Amounts, Building and Building Improvements	27,497
Total	31,897
Accumulated Depreciation	$ (99)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | One Midtown
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, NC
Encumbrances	$ 34,500
Initial Cost, Land and Land Improvements	7,174
Initial Cost, Building and Building Improvements	44,794
Gross Amounts, Land and Land Improvements	7,174
Gross Amounts, Building and Building Improvements	44,794
Total	51,968
Accumulated Depreciation	$ (163)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Palm Club
Real Estate And Accumulated Depreciation [Line Items]
Location	Brunswick, GA
Encumbrances	$ 13,800
Initial Cost, Land and Land Improvements	2,883
Initial Cost, Building and Building Improvements	18,036
Gross Amounts, Land and Land Improvements	2,883
Gross Amounts, Building and Building Improvements	18,036
Total	20,919
Accumulated Depreciation	$ (65)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Parkside at the Highlands
Real Estate And Accumulated Depreciation [Line Items]
Location	Savannah, GA
Encumbrances	$ 36,100
Initial Cost, Land and Land Improvements	7,461
Initial Cost, Building and Building Improvements	46,568
Gross Amounts, Land and Land Improvements	7,461
Gross Amounts, Building and Building Improvements	46,568
Total	54,029
Accumulated Depreciation	$ (169)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Patriot Point
Real Estate And Accumulated Depreciation [Line Items]
Location	Spring Lake, NC
Encumbrances	$ 16,100
Initial Cost, Land and Land Improvements	3,238
Initial Cost, Building and Building Improvements	20,253
Gross Amounts, Land and Land Improvements	3,238
Gross Amounts, Building and Building Improvements	20,253
Total	23,491
Accumulated Depreciation	$ (74)
Year Built	Dec. 31, 1993
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Quad
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, NC
Encumbrances	$ 15,600
Initial Cost, Land and Land Improvements	3,266
Initial Cost, Building and Building Improvements	20,401
Gross Amounts, Land and Land Improvements	3,266
Gross Amounts, Building and Building Improvements	20,401
Total	23,667
Accumulated Depreciation	$ (74)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Racquet Club
Real Estate And Accumulated Depreciation [Line Items]
Location	Lexington, KY
Encumbrances	$ 34,100
Initial Cost, Land and Land Improvements	8,663
Initial Cost, Building and Building Improvements	53,959
Gross Amounts, Land and Land Improvements	8,663
Gross Amounts, Building and Building Improvements	53,959
Total	62,622
Accumulated Depreciation	$ (195)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Ranchstone
Real Estate And Accumulated Depreciation [Line Items]
Location	Parker, CO
Encumbrances	$ 74,700
Initial Cost, Land and Land Improvements	17,012
Initial Cost, Building and Building Improvements	126,989
Gross Amounts, Land and Land Improvements	17,012
Gross Amounts, Building and Building Improvements	126,989
Total	144,001
Accumulated Depreciation	$ (450)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Retreat at Grande Lake
Real Estate And Accumulated Depreciation [Line Items]
Location	Brunswick, GA
Encumbrances	$ 22,100
Initial Cost, Land and Land Improvements	4,646
Initial Cost, Building and Building Improvements	28,975
Gross Amounts, Land and Land Improvements	4,646
Gross Amounts, Building and Building Improvements	28,975
Total	33,621
Accumulated Depreciation	$ (105)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Retreat at Hidden Bay
Real Estate And Accumulated Depreciation [Line Items]
Location	St. Marys, GA
Encumbrances	$ 15,200
Initial Cost, Land and Land Improvements	3,170
Initial Cost, Building and Building Improvements	19,810
Gross Amounts, Land and Land Improvements	3,170
Gross Amounts, Building and Building Improvements	19,810
Total	22,980
Accumulated Depreciation	$ (71)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Revival on Main
Real Estate And Accumulated Depreciation [Line Items]
Location	Kennesaw, GA
Encumbrances	$ 48,000
Initial Cost, Land and Land Improvements	9,920
Initial Cost, Building and Building Improvements	61,794
Gross Amounts, Land and Land Improvements	9,920
Gross Amounts, Building and Building Improvements	61,794
Total	71,714
Accumulated Depreciation	$ (225)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Royal Oaks Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Savannah, GA
Encumbrances	$ 21,900
Initial Cost, Land and Land Improvements	4,482
Initial Cost, Building and Building Improvements	36,219
Gross Amounts, Land and Land Improvements	4,482
Gross Amounts, Building and Building Improvements	36,219
Total	40,701
Accumulated Depreciation	$ (127)
Year Built	Dec. 31, 1977
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Saratoga
Real Estate And Accumulated Depreciation [Line Items]
Location	Everett, WA
Encumbrances	$ 17,600
Initial Cost, Land and Land Improvements	4,239
Initial Cost, Building and Building Improvements	26,610
Gross Amounts, Land and Land Improvements	4,239
Gross Amounts, Building and Building Improvements	26,610
Total	30,849
Accumulated Depreciation	$ (97)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Sheffield Greens
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 41,600
Initial Cost, Land and Land Improvements	8,581
Initial Cost, Building and Building Improvements	53,516
Gross Amounts, Land and Land Improvements	8,581
Gross Amounts, Building and Building Improvements	53,516
Total	62,097
Accumulated Depreciation	$ (194)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Smoky Crossing Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Seymour, TN
Encumbrances	$ 50,700
Initial Cost, Land and Land Improvements	10,371
Initial Cost, Building and Building Improvements	120,337
Gross Amounts, Land and Land Improvements	10,371
Gross Amounts, Building and Building Improvements	120,337
Total	130,708
Accumulated Depreciation	$ (407)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Town Park Crossing Apartments
Real Estate And Accumulated Depreciation [Line Items]
Location	Kennesaw, GA
Encumbrances	$ 43,500
Initial Cost, Land and Land Improvements	9,100
Initial Cost, Building and Building Improvements	56,768
Gross Amounts, Land and Land Improvements	9,100
Gross Amounts, Building and Building Improvements	56,768
Total	65,868
Accumulated Depreciation	$ (206)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Towne Creek
Real Estate And Accumulated Depreciation [Line Items]
Location	Gainesville, GA
Encumbrances	$ 15,800
Initial Cost, Land and Land Improvements	3,307
Initial Cost, Building and Building Improvements	20,549
Gross Amounts, Land and Land Improvements	3,307
Gross Amounts, Building and Building Improvements	20,549
Total	23,856
Accumulated Depreciation	$ (75)
Year Built	Dec. 31, 1989
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Village Lakes
Real Estate And Accumulated Depreciation [Line Items]
Location	Waldorf, MD
Encumbrances	$ 13,600
Initial Cost, Land and Land Improvements	3,170
Initial Cost, Building and Building Improvements	19,810
Gross Amounts, Land and Land Improvements	3,170
Gross Amounts, Building and Building Improvements	19,810
Total	22,980
Accumulated Depreciation	$ (71)
Year Built	Dec. 31, 1994
Year Acquired	Dec. 31, 2021
Multifamily | SEG Multifamily Portfolio | Building and Building Improvements | Durant at Sugarloaf Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 2
Multifamily | SEG Multifamily Portfolio | Building and Building Improvements | Grande Club Apartments
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	834
Multifamily | SEG Multifamily Portfolio | Building and Building Improvements | Grove Veridian
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 464
Multifamily | National Affordable Housing Portfolio | Centre Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Bradenton, FL
Encumbrances	$ 19,912
Initial Cost, Land and Land Improvements	5,335
Initial Cost, Building and Building Improvements	29,299
Gross Amounts, Land and Land Improvements	5,335
Gross Amounts, Building and Building Improvements	29,299
Total	34,634
Accumulated Depreciation	$ (36)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Commander Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Orlando, FL
Encumbrances	$ 26,215
Initial Cost, Land and Land Improvements	5,713
Initial Cost, Building and Building Improvements	31,374
Gross Amounts, Land and Land Improvements	5,713
Gross Amounts, Building and Building Improvements	31,374
Total	37,087
Accumulated Depreciation	$ (38)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Pasco Woods
Real Estate And Accumulated Depreciation [Line Items]
Location	Wesley Chapel, FL
Encumbrances	$ 21,522
Initial Cost, Land and Land Improvements	4,511
Initial Cost, Building and Building Improvements	24,772
Gross Amounts, Land and Land Improvements	4,511
Gross Amounts, Building and Building Improvements	24,772
Total	29,283
Accumulated Depreciation	$ (31)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Pemberly Palms
Real Estate And Accumulated Depreciation [Line Items]
Location	Vero Beach, FL
Encumbrances	$ 19,711
Initial Cost, Land and Land Improvements	4,645
Initial Cost, Building and Building Improvements	25,507
Gross Amounts, Land and Land Improvements	4,645
Gross Amounts, Building and Building Improvements	25,507
Total	30,152
Accumulated Depreciation	$ (31)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Harris Branch
Real Estate And Accumulated Depreciation [Line Items]
Location	Austin, TX
Encumbrances	$ 37,444
Initial Cost, Land and Land Improvements	7,048
Initial Cost, Building and Building Improvements	51,379
Gross Amounts, Land and Land Improvements	7,048
Gross Amounts, Building and Building Improvements	51,379
Total	58,427
Accumulated Depreciation	$ (60)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Park Place Loyola
Real Estate And Accumulated Depreciation [Line Items]
Location	Austin, TX
Encumbrances	$ 37,884
Initial Cost, Land and Land Improvements	6,468
Initial Cost, Building and Building Improvements	47,157
Gross Amounts, Land and Land Improvements	6,468
Gross Amounts, Building and Building Improvements	47,157
Total	53,625
Accumulated Depreciation	$ (56)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Santoras Villas
Real Estate And Accumulated Depreciation [Line Items]
Location	Austin, TX
Encumbrances	$ 28,036
Initial Cost, Land and Land Improvements	5,111
Initial Cost, Building and Building Improvements	37,263
Gross Amounts, Land and Land Improvements	5,111
Gross Amounts, Building and Building Improvements	37,263
Total	42,374
Accumulated Depreciation	$ (44)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Villas Shaver
Real Estate And Accumulated Depreciation [Line Items]
Location	Pasadena, TX
Encumbrances	$ 17,211
Initial Cost, Land and Land Improvements	3,182
Initial Cost, Building and Building Improvements	23,197
Gross Amounts, Land and Land Improvements	3,182
Gross Amounts, Building and Building Improvements	23,197
Total	26,379
Accumulated Depreciation	$ (27)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Chelsea Commons
Real Estate And Accumulated Depreciation [Line Items]
Location	Greenacres, FL
Encumbrances	$ 34,145
Initial Cost, Land and Land Improvements	12,348
Initial Cost, Building and Building Improvements	44,910
Gross Amounts, Land and Land Improvements	12,348
Gross Amounts, Building and Building Improvements	44,910
Total	57,258
Accumulated Depreciation	$ (59)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Colony Park
Real Estate And Accumulated Depreciation [Line Items]
Location	West Palm Beach, FL
Encumbrances	$ 19,407
Initial Cost, Land and Land Improvements	6,626
Initial Cost, Building and Building Improvements	24,101
Gross Amounts, Land and Land Improvements	6,626
Gross Amounts, Building and Building Improvements	24,101
Total	30,727
Accumulated Depreciation	$ (32)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Forest Glen
Real Estate And Accumulated Depreciation [Line Items]
Location	Durham, NC
Encumbrances	$ 13,862
Initial Cost, Land and Land Improvements	2,975
Initial Cost, Building and Building Improvements	10,821
Gross Amounts, Land and Land Improvements	2,975
Gross Amounts, Building and Building Improvements	10,821
Total	13,796
Accumulated Depreciation	$ (14)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Grande Court Sarasota
Real Estate And Accumulated Depreciation [Line Items]
Location	North Port, FL
Encumbrances	$ 14,811
Initial Cost, Land and Land Improvements	5,010
Initial Cost, Building and Building Improvements	18,221
Gross Amounts, Land and Land Improvements	5,010
Gross Amounts, Building and Building Improvements	18,221
Total	23,231
Accumulated Depreciation	$ (24)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Hampton Ridge Jax
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 8,536
Initial Cost, Land and Land Improvements	2,476
Initial Cost, Building and Building Improvements	9,005
Gross Amounts, Land and Land Improvements	2,476
Gross Amounts, Building and Building Improvements	9,005
Total	11,481
Accumulated Depreciation	$ (12)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Mayflower Harbor
Real Estate And Accumulated Depreciation [Line Items]
Location	Lehi, UT
Encumbrances	$ 31,810
Initial Cost, Land and Land Improvements	9,050
Initial Cost, Building and Building Improvements	32,915
Gross Amounts, Land and Land Improvements	9,050
Gross Amounts, Building and Building Improvements	32,915
Total	41,965
Accumulated Depreciation	$ (44)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Rose Cove SLC
Real Estate And Accumulated Depreciation [Line Items]
Location	Farmington, UT
Encumbrances	$ 16,051
Initial Cost, Land and Land Improvements	4,649
Initial Cost, Building and Building Improvements	16,909
Gross Amounts, Land and Land Improvements	4,649
Gross Amounts, Building and Building Improvements	16,909
Total	21,558
Accumulated Depreciation	$ (23)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | San Marcos Villas
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Park, FL
Encumbrances	$ 51,145
Initial Cost, Land and Land Improvements	18,054
Initial Cost, Building and Building Improvements	65,663
Gross Amounts, Land and Land Improvements	18,054
Gross Amounts, Building and Building Improvements	65,663
Total	83,717
Accumulated Depreciation	$ (87)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2021
Multifamily | National Affordable Housing Portfolio | Venice Cove FLL
Real Estate And Accumulated Depreciation [Line Items]
Location	Ft Lauderdale, FL
Encumbrances	$ 17,583
Initial Cost, Land and Land Improvements	5,878
Initial Cost, Building and Building Improvements	21,379
Gross Amounts, Land and Land Improvements	5,878
Gross Amounts, Building and Building Improvements	21,379
Total	27,257
Accumulated Depreciation	$ (28)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | 7575 Town Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 115,332
Initial Cost, Land and Land Improvements	21,500
Initial Cost, Building and Building Improvements	153,357
Gross Amounts, Land and Land Improvements	21,500
Gross Amounts, Building and Building Improvements	153,357
Total	174,857
Accumulated Depreciation	$ (169)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Aster East
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 91,059
Initial Cost, Land and Land Improvements	16,988
Initial Cost, Building and Building Improvements	121,172
Gross Amounts, Land and Land Improvements	16,988
Gross Amounts, Building and Building Improvements	121,172
Total	138,160
Accumulated Depreciation	$ (134)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Aster West
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 68,180
Initial Cost, Land and Land Improvements	12,727
Initial Cost, Building and Building Improvements	90,780
Gross Amounts, Land and Land Improvements	12,727
Gross Amounts, Building and Building Improvements	90,780
Total	103,507
Accumulated Depreciation	$ (101)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Aster North
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 31,227
Initial Cost, Land and Land Improvements	5,845
Initial Cost, Building and Building Improvements	41,693
Gross Amounts, Land and Land Improvements	5,845
Gross Amounts, Building and Building Improvements	41,693
Total	47,538
Accumulated Depreciation	$ (46)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Aster South
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 20,952
Initial Cost, Land and Land Improvements	3,931
Initial Cost, Building and Building Improvements	28,036
Gross Amounts, Land and Land Improvements	3,931
Gross Amounts, Building and Building Improvements	28,036
Total	31,967
Accumulated Depreciation	$ (31)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Botanica Town Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 40,350
Initial Cost, Land and Land Improvements	7,234
Initial Cost, Building and Building Improvements	51,600
Gross Amounts, Land and Land Improvements	7,234
Gross Amounts, Building and Building Improvements	51,600
Total	58,834
Accumulated Depreciation	$ (57)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Multifamily | Central Park Portfolio | Crescent Flats
Real Estate And Accumulated Depreciation [Line Items]
Location	Denver, CO
Encumbrances	$ 35,575
Initial Cost, Land and Land Improvements	6,497
Initial Cost, Building and Building Improvements	46,344
Gross Amounts, Land and Land Improvements	6,497
Gross Amounts, Building and Building Improvements	46,344
Total	52,841
Accumulated Depreciation	$ (51)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Industrial Properties
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 1,383,468
Initial Cost, Land and Land Improvements	352,756
Initial Cost, Building and Building Improvements	1,667,278
Gross Amounts, Land and Land Improvements	353,589
Gross Amounts, Building and Building Improvements	1,670,400
Total	2,023,989
Accumulated Depreciation	$ (50,254)
Industrial Properties | Marshfield Industrial Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Location	Baltimore, MD
Encumbrances	$ 106,698
Initial Cost, Land and Land Improvements	21,720
Initial Cost, Building and Building Improvements	139,433
Gross Amounts, Land and Land Improvements	21,907
Gross Amounts, Building and Building Improvements	139,437
Total	161,344
Accumulated Depreciation	$ (5,210)
Year Acquired	Dec. 31, 2020
Industrial Properties | Airport Logistics Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Nashville, TN
Encumbrances	$ 35,000
Initial Cost, Land and Land Improvements	7,031
Initial Cost, Building and Building Improvements	53,728
Gross Amounts, Land and Land Improvements	7,031
Gross Amounts, Building and Building Improvements	53,728
Total	60,759
Accumulated Depreciation	$ (2,233)
Year Acquired	Dec. 31, 2020
Industrial Properties | Land and Land Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 833
Industrial Properties | Land and Land Improvements | Marshfield Industrial Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	187
Industrial Properties | Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3,122
Industrial Properties | Building and Building Improvements | Marshfield Industrial Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 4
Industrial Properties | Midwest Industrial Portfolio | 201 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Addison, IL
Encumbrances	$ 210,027
Initial Cost, Land and Land Improvements	2,134
Initial Cost, Building and Building Improvements	5,578
Gross Amounts, Land and Land Improvements	2,147
Gross Amounts, Building and Building Improvements	5,472
Total	7,619
Accumulated Depreciation	$ (440)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 221 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Addison, IL
Initial Cost, Land and Land Improvements	$ 2,230
Initial Cost, Building and Building Improvements	7,553
Gross Amounts, Land and Land Improvements	2,244
Gross Amounts, Building and Building Improvements	7,541
Total	9,785
Accumulated Depreciation	$ (611)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 13005 Hamlin Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Alsip, IL
Initial Cost, Land and Land Improvements	$ 1,813
Initial Cost, Building and Building Improvements	4,623
Gross Amounts, Land and Land Improvements	1,824
Gross Amounts, Building and Building Improvements	4,613
Total	6,437
Accumulated Depreciation	$ (447)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1695 Glen Ellyn Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Glendale Heights, IL
Initial Cost, Land and Land Improvements	$ 2,206
Initial Cost, Building and Building Improvements	4,769
Gross Amounts, Land and Land Improvements	2,220
Gross Amounts, Building and Building Improvements	4,757
Total	6,977
Accumulated Depreciation	$ (416)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 845 Telser Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Zurich, IL
Initial Cost, Land and Land Improvements	$ 1,370
Initial Cost, Building and Building Improvements	2,325
Gross Amounts, Land and Land Improvements	1,378
Gross Amounts, Building and Building Improvements	2,317
Total	3,695
Accumulated Depreciation	$ (226)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1245-1247 Lakeside Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Romeoville, IL
Initial Cost, Land and Land Improvements	$ 1,461
Initial Cost, Building and Building Improvements	4,059
Gross Amounts, Land and Land Improvements	1,470
Gross Amounts, Building and Building Improvements	4,050
Total	5,520
Accumulated Depreciation	$ (402)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 775 Commerce Parkway West Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Greenwood, IN
Initial Cost, Land and Land Improvements	$ 1,314
Initial Cost, Building and Building Improvements	10,189
Gross Amounts, Land and Land Improvements	1,322
Gross Amounts, Building and Building Improvements	10,183
Total	11,505
Accumulated Depreciation	$ (650)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 999 Gerdt Cour
Real Estate And Accumulated Depreciation [Line Items]
Location	Greenwood, IN
Initial Cost, Land and Land Improvements	$ 1,268
Initial Cost, Building and Building Improvements	6,364
Gross Amounts, Land and Land Improvements	1,276
Gross Amounts, Building and Building Improvements	6,358
Total	7,634
Accumulated Depreciation	$ (546)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1600-1640 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 879
Initial Cost, Building and Building Improvements	3,010
Gross Amounts, Land and Land Improvements	884
Gross Amounts, Building and Building Improvements	3,005
Total	3,889
Accumulated Depreciation	$ (288)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1650 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 860
Initial Cost, Building and Building Improvements	2,954
Gross Amounts, Land and Land Improvements	865
Gross Amounts, Building and Building Improvements	2,949
Total	3,814
Accumulated Depreciation	$ (307)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1701-21 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 1,264
Initial Cost, Building and Building Improvements	5,974
Gross Amounts, Land and Land Improvements	1,272
Gross Amounts, Building and Building Improvements	5,968
Total	7,240
Accumulated Depreciation	$ (491)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1851 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 1,477
Initial Cost, Building and Building Improvements	2,077
Gross Amounts, Land and Land Improvements	1,486
Gross Amounts, Building and Building Improvements	2,069
Total	3,555
Accumulated Depreciation	$ (264)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 1901-51 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 1,800
Initial Cost, Building and Building Improvements	9,550
Gross Amounts, Land and Land Improvements	1,811
Gross Amounts, Building and Building Improvements	9,541
Total	11,352
Accumulated Depreciation	$ (815)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 6241 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 1,946
Initial Cost, Building and Building Improvements	8,402
Gross Amounts, Land and Land Improvements	2,072
Gross Amounts, Building and Building Improvements	8,392
Total	10,464
Accumulated Depreciation	$ (759)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 6451 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Location	Hobart, IN
Initial Cost, Land and Land Improvements	$ 2,782
Initial Cost, Building and Building Improvements	8,375
Gross Amounts, Land and Land Improvements	2,799
Gross Amounts, Building and Building Improvements	8,360
Total	11,159
Accumulated Depreciation	$ (722)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 8401 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Indianapolis, IN
Initial Cost, Land and Land Improvements	$ 3,159
Initial Cost, Building and Building Improvements	13,189
Gross Amounts, Land and Land Improvements	3,179
Gross Amounts, Building and Building Improvements	13,172
Total	16,351
Accumulated Depreciation	$ (987)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 8411 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Indianapolis, IN
Initial Cost, Land and Land Improvements	$ 1,448
Initial Cost, Building and Building Improvements	6,515
Gross Amounts, Land and Land Improvements	1,457
Gross Amounts, Building and Building Improvements	6,507
Total	7,964
Accumulated Depreciation	$ (465)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 8461 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Indianapolis, IN
Initial Cost, Land and Land Improvements	$ 1,337
Initial Cost, Building and Building Improvements	10,188
Gross Amounts, Land and Land Improvements	1,345
Gross Amounts, Building and Building Improvements	10,182
Total	11,527
Accumulated Depreciation	$ (657)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 101 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 3,968
Initial Cost, Building and Building Improvements	20,213
Gross Amounts, Land and Land Improvements	4,154
Gross Amounts, Building and Building Improvements	21,111
Total	25,265
Accumulated Depreciation	$ (1,930)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 215 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 1,209
Initial Cost, Building and Building Improvements	3,473
Gross Amounts, Land and Land Improvements	1,216
Gross Amounts, Building and Building Improvements	3,466
Total	4,682
Accumulated Depreciation	$ (352)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 225 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 1,112
Initial Cost, Building and Building Improvements	2,741
Gross Amounts, Land and Land Improvements	1,119
Gross Amounts, Building and Building Improvements	2,820
Total	3,939
Accumulated Depreciation	$ (273)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 235 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 1,163
Initial Cost, Building and Building Improvements	1,847
Gross Amounts, Land and Land Improvements	1,170
Gross Amounts, Building and Building Improvements	1,840
Total	3,010
Accumulated Depreciation	$ (236)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 333 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 3,378
Initial Cost, Building and Building Improvements	7,839
Gross Amounts, Land and Land Improvements	3,399
Gross Amounts, Building and Building Improvements	7,821
Total	11,220
Accumulated Depreciation	$ (847)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 480 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Munster, IN
Initial Cost, Land and Land Improvements	$ 1,542
Initial Cost, Building and Building Improvements	6,356
Gross Amounts, Land and Land Improvements	1,552
Gross Amounts, Building and Building Improvements	6,347
Total	7,899
Accumulated Depreciation	$ (545)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 3890 Perry Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Whitestown, IN
Initial Cost, Land and Land Improvements	$ 698
Initial Cost, Building and Building Improvements	4,491
Gross Amounts, Land and Land Improvements	702
Gross Amounts, Building and Building Improvements	4,459
Total	5,161
Accumulated Depreciation	$ (316)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 4750 S Indianapolis Rd
Real Estate And Accumulated Depreciation [Line Items]
Location	Whitestown, IN
Initial Cost, Land and Land Improvements	$ 3,167
Initial Cost, Building and Building Improvements	14,293
Gross Amounts, Land and Land Improvements	3,187
Gross Amounts, Building and Building Improvements	14,277
Total	17,464
Accumulated Depreciation	$ (1,169)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 4990 Indianapolis Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Whitestown, IN
Initial Cost, Land and Land Improvements	$ 1,668
Initial Cost, Building and Building Improvements	8,319
Gross Amounts, Land and Land Improvements	1,678
Gross Amounts, Building and Building Improvements	8,310
Total	9,988
Accumulated Depreciation	$ (620)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 5701 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Grove City, OH
Initial Cost, Land and Land Improvements	$ 2,166
Initial Cost, Building and Building Improvements	10,542
Gross Amounts, Land and Land Improvements	2,179
Gross Amounts, Building and Building Improvements	10,531
Total	12,710
Accumulated Depreciation	$ (947)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 5900 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Grove City, OH
Initial Cost, Land and Land Improvements	$ 2,369
Initial Cost, Building and Building Improvements	11,916
Gross Amounts, Land and Land Improvements	2,384
Gross Amounts, Building and Building Improvements	11,904
Total	14,288
Accumulated Depreciation	$ (1,067)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 2240 Creekside Parkway
Real Estate And Accumulated Depreciation [Line Items]
Location	Lockbourne, OH
Initial Cost, Land and Land Improvements	$ 2,300
Initial Cost, Building and Building Improvements	7,010
Gross Amounts, Land and Land Improvements	2,314
Gross Amounts, Building and Building Improvements	6,998
Total	9,312
Accumulated Depreciation	$ (599)
Year Built	Dec. 31, 2012
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | 4410 North 132nd Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Butler, WI
Initial Cost, Land and Land Improvements	$ 1,248
Initial Cost, Building and Building Improvements	6,383
Gross Amounts, Land and Land Improvements	1,256
Gross Amounts, Building and Building Improvements	6,634
Total	7,890
Accumulated Depreciation	$ (547)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | FourThousandSevenHundredNorthIronwoodDriveMember
Real Estate And Accumulated Depreciation [Line Items]
Location	Butler, WI
Initial Cost, Land and Land Improvements	$ 1,510
Initial Cost, Building and Building Improvements	7,222
Gross Amounts, Land and Land Improvements	1,519
Gross Amounts, Building and Building Improvements	7,509
Total	9,028
Accumulated Depreciation	$ (601)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | W234 N2091 Ridgeview Parkway Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Butler, WI
Initial Cost, Land and Land Improvements	$ 1,965
Initial Cost, Building and Building Improvements	7,508
Gross Amounts, Land and Land Improvements	1,977
Gross Amounts, Building and Building Improvements	7,497
Total	9,474
Accumulated Depreciation	$ (622)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2019
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 201 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 13
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 221 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	14
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 13005 Hamlin Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	11
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1695 Glen Ellyn Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	14
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 845 Telser Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1245-1247 Lakeside Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 775 Commerce Parkway West Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 999 Gerdt Cour
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1600-1640 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	5
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1650 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	5
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1701-21 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1851 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 1901-51 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	11
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 6241 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	126
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 6451 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	17
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 8401 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	20
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 8411 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 8461 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 101 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	186
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 215 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 225 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 235 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 333 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	21
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 480 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	10
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 3890 Perry Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	4
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 4750 S Indianapolis Rd
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	20
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 4990 Indianapolis Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	10
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 5701 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	13
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 5900 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	15
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 2240 Creekside Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	14
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | 4410 North 132nd Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	8
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | FourThousandSevenHundredNorthIronwoodDriveMember
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	9
Industrial Properties | Midwest Industrial Portfolio | Land and Land Improvements | W234 N2091 Ridgeview Parkway Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	12
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 201 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(106)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 221 Swift Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(12)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 13005 Hamlin Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(10)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1695 Glen Ellyn Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(12)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 845 Telser Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(8)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1245-1247 Lakeside Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(9)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 775 Commerce Parkway West Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(6)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 999 Gerdt Cour
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(6)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1600-1640 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(5)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1650 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(5)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1701-21 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(6)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1851 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(8)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 1901-51 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(9)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 6241 Northwind Pkwy
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(10)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 6451 Northwind Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(15)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 8401 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(17)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 8411 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(8)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 8461 Bearing Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(6)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 101 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	898
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 215 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(7)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 225 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	79
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 235 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(7)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 333 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(18)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 480 West 45th Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(9)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 3890 Perry Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(32)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 4750 S Indianapolis Rd
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(16)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 4990 Indianapolis Road
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(9)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 5701 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(11)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 5900 Meadows Drive
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(12)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 2240 Creekside Parkway
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(12)
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | 4410 North 132nd Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	251
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | FourThousandSevenHundredNorthIronwoodDriveMember
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	287
Industrial Properties | Midwest Industrial Portfolio | Building and Building Improvements | W234 N2091 Ridgeview Parkway Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ (11)
Industrial Properties | Denver/Boulder Industrial Portfolio | 321 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 12,514
Initial Cost, Land and Land Improvements	3,006
Initial Cost, Building and Building Improvements	15,435
Gross Amounts, Land and Land Improvements	3,006
Gross Amounts, Building and Building Improvements	15,442
Total	18,448
Accumulated Depreciation	$ (415)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1900 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 20,138
Initial Cost, Land and Land Improvements	5,746
Initial Cost, Building and Building Improvements	25,386
Gross Amounts, Land and Land Improvements	5,746
Gross Amounts, Building and Building Improvements	25,386
Total	31,132
Accumulated Depreciation	$ (556)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 2000 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 21,382
Initial Cost, Land and Land Improvements	5,999
Initial Cost, Building and Building Improvements	30,674
Gross Amounts, Land and Land Improvements	5,999
Gross Amounts, Building and Building Improvements	30,927
Total	36,926
Accumulated Depreciation	$ (675)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 2035 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 18,328
Initial Cost, Land and Land Improvements	4,122
Initial Cost, Building and Building Improvements	20,497
Gross Amounts, Land and Land Improvements	4,122
Gross Amounts, Building and Building Improvements	20,497
Total	24,619
Accumulated Depreciation	$ (410)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1775 Cherry Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 19,377
Initial Cost, Land and Land Improvements	4,726
Initial Cost, Building and Building Improvements	25,499
Gross Amounts, Land and Land Improvements	4,726
Gross Amounts, Building and Building Improvements	25,499
Total	30,225
Accumulated Depreciation	$ (549)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1900 Cherry Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 15,935
Initial Cost, Land and Land Improvements	2,581
Initial Cost, Building and Building Improvements	18,089
Gross Amounts, Land and Land Improvements	2,581
Gross Amounts, Building and Building Improvements	18,089
Total	20,670
Accumulated Depreciation	$ (359)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1960 Cherry Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 9,014
Initial Cost, Land and Land Improvements	2,265
Initial Cost, Building and Building Improvements	9,133
Gross Amounts, Land and Land Improvements	2,265
Gross Amounts, Building and Building Improvements	9,133
Total	11,398
Accumulated Depreciation	$ (199)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1795 Dogwood Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 18,027
Initial Cost, Land and Land Improvements	4,035
Initial Cost, Building and Building Improvements	23,343
Gross Amounts, Land and Land Improvements	4,035
Gross Amounts, Building and Building Improvements	23,343
Total	27,378
Accumulated Depreciation	$ (518)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1886 Prairie Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 14,173
Initial Cost, Land and Land Improvements	3,060
Initial Cost, Building and Building Improvements	13,277
Gross Amounts, Land and Land Improvements	3,060
Gross Amounts, Building and Building Improvements	13,277
Total	16,337
Accumulated Depreciation	$ (333)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 195 CTC Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 9,282
Initial Cost, Land and Land Improvements	2,652
Initial Cost, Building and Building Improvements	10,195
Gross Amounts, Land and Land Improvements	2,652
Gross Amounts, Building and Building Improvements	10,198
Total	12,850
Accumulated Depreciation	$ (237)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 633 CTC Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 24,663
Initial Cost, Land and Land Improvements	6,351
Initial Cost, Building and Building Improvements	33,818
Gross Amounts, Land and Land Improvements	6,351
Gross Amounts, Building and Building Improvements	33,818
Total	40,169
Accumulated Depreciation	$ (687)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 346 Arthur Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 8,613
Initial Cost, Land and Land Improvements	3,201
Initial Cost, Building and Building Improvements	11,109
Gross Amounts, Land and Land Improvements	3,201
Gross Amounts, Building and Building Improvements	11,109
Total	14,310
Accumulated Depreciation	$ (300)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 1480 Arthur Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 13,590
Initial Cost, Land and Land Improvements	4,303
Initial Cost, Building and Building Improvements	16,770
Gross Amounts, Land and Land Improvements	4,303
Gross Amounts, Building and Building Improvements	16,770
Total	21,073
Accumulated Depreciation	$ (435)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 600 Tech Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 18,191
Initial Cost, Land and Land Improvements	4,905
Initial Cost, Building and Building Improvements	24,778
Gross Amounts, Land and Land Improvements	4,905
Gross Amounts, Building and Building Improvements	24,778
Total	29,683
Accumulated Depreciation	$ (507)
Year Built	Dec. 31, 2020
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 700 Tech Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 14,000
Initial Cost, Land and Land Improvements	5,219
Initial Cost, Building and Building Improvements	18,522
Gross Amounts, Land and Land Improvements	5,219
Gross Amounts, Building and Building Improvements	18,522
Total	23,741
Accumulated Depreciation	$ (363)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | 725 Tech Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Louisville, CO
Encumbrances	$ 25,867
Initial Cost, Land and Land Improvements	5,780
Initial Cost, Building and Building Improvements	15,126
Gross Amounts, Land and Land Improvements	5,780
Gross Amounts, Building and Building Improvements	16,816
Total	22,596
Accumulated Depreciation	$ (327)
Year Built	Dec. 31, 2021
Year Acquired	Dec. 31, 2021
Industrial Properties | Denver/Boulder Industrial Portfolio | Building and Building Improvements | 321 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 7
Industrial Properties | Denver/Boulder Industrial Portfolio | Building and Building Improvements | 2000 Taylor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	253
Industrial Properties | Denver/Boulder Industrial Portfolio | Building and Building Improvements | 195 CTC Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3
Industrial Properties | Denver/Boulder Industrial Portfolio | Building and Building Improvements | 725 Tech Court
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 1,690
Industrial Properties | Independence Logistics Park | 359 Old Underwood Road
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Encumbrances	$ 117,000
Initial Cost, Land and Land Improvements	9,786
Initial Cost, Building and Building Improvements	53,113
Gross Amounts, Land and Land Improvements	9,786
Gross Amounts, Building and Building Improvements	53,113
Total	62,899
Accumulated Depreciation	$ (1,345)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Industrial Properties | Independence Logistics Park | 359 Pike Court
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Initial Cost, Land and Land Improvements	$ 9,007
Initial Cost, Building and Building Improvements	45,772
Gross Amounts, Land and Land Improvements	9,007
Gross Amounts, Building and Building Improvements	45,772
Total	54,779
Accumulated Depreciation	$ (1,288)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Industrial Properties | Independence Logistics Park | 10025 Porter Road
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Initial Cost, Land and Land Improvements	$ 2,836
Initial Cost, Building and Building Improvements	11,629
Gross Amounts, Land and Land Improvements	2,836
Gross Amounts, Building and Building Improvements	11,629
Total	14,465
Accumulated Depreciation	$ (318)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2021
Industrial Properties | Independence Logistics Park | 10051 Porter Road
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Initial Cost, Land and Land Improvements	$ 3,171
Initial Cost, Building and Building Improvements	15,890
Gross Amounts, Land and Land Improvements	3,171
Gross Amounts, Building and Building Improvements	15,890
Total	19,061
Accumulated Depreciation	$ (395)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Industrial Properties | Independence Logistics Park | 10052 Porter Road
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Initial Cost, Land and Land Improvements	$ 2,820
Initial Cost, Building and Building Improvements	14,759
Gross Amounts, Land and Land Improvements	2,820
Gross Amounts, Building and Building Improvements	14,759
Total	17,579
Accumulated Depreciation	$ (331)
Year Built	Dec. 31, 2009
Year Acquired	Dec. 31, 2021
Industrial Properties | Independence Logistics Park | 10100 Porter Road
Real Estate And Accumulated Depreciation [Line Items]
Location	La Porte, TX
Initial Cost, Land and Land Improvements	$ 3,046
Initial Cost, Building and Building Improvements	8,154
Gross Amounts, Land and Land Improvements	3,046
Gross Amounts, Building and Building Improvements	8,154
Total	11,200
Accumulated Depreciation	$ (215)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 475 Lillard Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Encumbrances	$ 266,000
Initial Cost, Land and Land Improvements	2,671
Initial Cost, Building and Building Improvements	36,429
Gross Amounts, Land and Land Improvements	2,671
Gross Amounts, Building and Building Improvements	36,429
Total	39,100
Accumulated Depreciation	$ (702)
Year Built	Dec. 31, 1994
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 775 Lillard Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 10,861
Initial Cost, Building and Building Improvements	15,573
Gross Amounts, Land and Land Improvements	10,861
Gross Amounts, Building and Building Improvements	15,573
Total	26,434
Accumulated Depreciation	$ (396)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 850 Spice Islands
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,104
Initial Cost, Building and Building Improvements	7,331
Gross Amounts, Land and Land Improvements	2,104
Gross Amounts, Building and Building Improvements	7,331
Total	9,435
Accumulated Depreciation	$ (168)
Year Built	Dec. 31, 1986
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1800 Deming Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 1,669
Initial Cost, Building and Building Improvements	7,368
Gross Amounts, Land and Land Improvements	1,669
Gross Amounts, Building and Building Improvements	7,368
Total	9,037
Accumulated Depreciation	$ (152)
Year Built	Dec. 31, 1979
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 10855 Lear
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,692
Initial Cost, Building and Building Improvements	24,603
Gross Amounts, Land and Land Improvements	2,692
Gross Amounts, Building and Building Improvements	24,603
Total	27,295
Accumulated Depreciation	$ (498)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | Sparks Business Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 9,936
Initial Cost, Building and Building Improvements	22,844
Gross Amounts, Land and Land Improvements	9,936
Gross Amounts, Building and Building Improvements	22,844
Total	32,780
Accumulated Depreciation	$ (632)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1185 South Rock
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 3,815
Initial Cost, Building and Building Improvements	9,484
Gross Amounts, Land and Land Improvements	3,815
Gross Amounts, Building and Building Improvements	9,484
Total	13,299
Accumulated Depreciation	$ (424)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 210 Lyon Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 667
Initial Cost, Building and Building Improvements	6,890
Gross Amounts, Land and Land Improvements	667
Gross Amounts, Building and Building Improvements	6,890
Total	7,557
Accumulated Depreciation	$ (153)
Year Built	Dec. 31, 1981
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 12040 Moya
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,996
Initial Cost, Building and Building Improvements	28,611
Gross Amounts, Land and Land Improvements	2,996
Gross Amounts, Building and Building Improvements	28,622
Total	31,618
Accumulated Depreciation	$ (558)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 10990 Lear
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,464
Initial Cost, Building and Building Improvements	17,991
Gross Amounts, Land and Land Improvements	2,464
Gross Amounts, Building and Building Improvements	17,991
Total	20,455
Accumulated Depreciation	$ (402)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 10991 Lear
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,397
Initial Cost, Building and Building Improvements	26,376
Gross Amounts, Land and Land Improvements	2,397
Gross Amounts, Building and Building Improvements	26,413
Total	28,810
Accumulated Depreciation	$ (580)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 855 Greg Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 3,347
Initial Cost, Building and Building Improvements	14,167
Gross Amounts, Land and Land Improvements	3,347
Gross Amounts, Building and Building Improvements	14,167
Total	17,514
Accumulated Depreciation	$ (333)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1823-1879 Deming Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 1,431
Initial Cost, Building and Building Improvements	6,598
Gross Amounts, Land and Land Improvements	1,431
Gross Amounts, Building and Building Improvements	6,598
Total	8,029
Accumulated Depreciation	$ (137)
Year Built	Dec. 31, 1980
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 12755 Moya
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 1,373
Initial Cost, Building and Building Improvements	8,505
Gross Amounts, Land and Land Improvements	1,373
Gross Amounts, Building and Building Improvements	8,505
Total	9,878
Accumulated Depreciation	$ (204)
Year Built	Dec. 31, 1992
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 12055 Sage Point
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,847
Initial Cost, Building and Building Improvements	26,630
Gross Amounts, Land and Land Improvements	2,847
Gross Amounts, Building and Building Improvements	26,630
Total	29,477
Accumulated Depreciation	$ (572)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1802 Brierly Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 1,928
Initial Cost, Building and Building Improvements	31,756
Gross Amounts, Land and Land Improvements	1,928
Gross Amounts, Building and Building Improvements	31,756
Total	33,684
Accumulated Depreciation	$ (681)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1755 Purina Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 2,773
Initial Cost, Building and Building Improvements	10,195
Gross Amounts, Land and Land Improvements	2,773
Gross Amounts, Building and Building Improvements	10,195
Total	12,968
Accumulated Depreciation	$ (303)
Year Built	Dec. 31, 1977
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 1550 Greg Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 3,374
Initial Cost, Building and Building Improvements	3,780
Gross Amounts, Land and Land Improvements	3,374
Gross Amounts, Building and Building Improvements	3,780
Total	7,154
Accumulated Depreciation	$ (140)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | 6995 Resource Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Sparks, NV
Initial Cost, Land and Land Improvements	$ 1,557
Initial Cost, Building and Building Improvements	18,501
Gross Amounts, Land and Land Improvements	1,557
Gross Amounts, Building and Building Improvements	18,501
Total	20,058
Accumulated Depreciation	$ (405)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Industrial Properties | Reno Logistics Portfolio | Building and Building Improvements | 12040 Moya
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 11
Industrial Properties | Reno Logistics Portfolio | Building and Building Improvements | 10991 Lear
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 37
Industrial Properties | Southwest Light Industrial Portfolio | Aztec Commerceplex
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 31,757
Initial Cost, Land and Land Improvements	6,423
Initial Cost, Building and Building Improvements	38,777
Gross Amounts, Land and Land Improvements	6,423
Gross Amounts, Building and Building Improvements	38,777
Total	45,200
Accumulated Depreciation	$ (354)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Coronado Phase I
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 11,591
Initial Cost, Land and Land Improvements	2,672
Initial Cost, Building and Building Improvements	13,604
Gross Amounts, Land and Land Improvements	2,672
Gross Amounts, Building and Building Improvements	13,604
Total	16,276
Accumulated Depreciation	$ (136)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Coronado Phase II
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 30,860
Initial Cost, Land and Land Improvements	7,390
Initial Cost, Building and Building Improvements	36,285
Gross Amounts, Land and Land Improvements	7,390
Gross Amounts, Building and Building Improvements	36,285
Total	43,675
Accumulated Depreciation	$ (346)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Coronado Phase III
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 7,172
Initial Cost, Land and Land Improvements	2,211
Initial Cost, Building and Building Improvements	8,019
Gross Amounts, Land and Land Improvements	2,211
Gross Amounts, Building and Building Improvements	8,019
Total	10,230
Accumulated Depreciation	$ (81)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Coronado Phase IV
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 14,343
Initial Cost, Land and Land Improvements	2,933
Initial Cost, Building and Building Improvements	17,368
Gross Amounts, Land and Land Improvements	2,933
Gross Amounts, Building and Building Improvements	17,368
Total	20,301
Accumulated Depreciation	$ (155)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Dean Martin Drive Phase I
Real Estate And Accumulated Depreciation [Line Items]
Location	Las Vegas, NV
Encumbrances	$ 13,964
Initial Cost, Land and Land Improvements	5,798
Initial Cost, Building and Building Improvements	12,334
Gross Amounts, Land and Land Improvements	5,798
Gross Amounts, Building and Building Improvements	12,334
Total	18,132
Accumulated Depreciation	$ (143)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Dean Martin Drive Phase II
Real Estate And Accumulated Depreciation [Line Items]
Location	Las Vegas, NV
Encumbrances	$ 18,700
Initial Cost, Land and Land Improvements	7,867
Initial Cost, Building and Building Improvements	16,416
Gross Amounts, Land and Land Improvements	7,867
Gross Amounts, Building and Building Improvements	16,416
Total	24,283
Accumulated Depreciation	$ (191)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Loop 101 Phase I
Real Estate And Accumulated Depreciation [Line Items]
Location	Las Vegas, NV
Encumbrances	$ 25,354
Initial Cost, Land and Land Improvements	6,968
Initial Cost, Building and Building Improvements	28,795
Gross Amounts, Land and Land Improvements	6,968
Gross Amounts, Building and Building Improvements	28,795
Total	35,763
Accumulated Depreciation	$ (294)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Loop 101 Phase II
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 39,219
Initial Cost, Land and Land Improvements	13,005
Initial Cost, Building and Building Improvements	46,987
Gross Amounts, Land and Land Improvements	13,005
Gross Amounts, Building and Building Improvements	46,987
Total	59,992
Accumulated Depreciation	$ (480)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Phoenix Pinnacle Phase I
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 48,336
Initial Cost, Land and Land Improvements	10,250
Initial Cost, Building and Building Improvements	56,873
Gross Amounts, Land and Land Improvements	10,250
Gross Amounts, Building and Building Improvements	56,873
Total	67,123
Accumulated Depreciation	$ (531)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Phoenix Pinnacle Phase I
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 31,829
Initial Cost, Land and Land Improvements	5,812
Initial Cost, Building and Building Improvements	38,756
Gross Amounts, Land and Land Improvements	5,812
Gross Amounts, Building and Building Improvements	38,756
Total	44,568
Accumulated Depreciation	$ (320)
Year Built	Dec. 31, 2002
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Phoenix Pinnacle Phase III
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 20,066
Initial Cost, Land and Land Improvements	3,578
Initial Cost, Building and Building Improvements	22,515
Gross Amounts, Land and Land Improvements	3,578
Gross Amounts, Building and Building Improvements	22,515
Total	26,093
Accumulated Depreciation	$ (198)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Tempe Southern Business Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 22,515
Initial Cost, Land and Land Improvements	4,987
Initial Cost, Building and Building Improvements	25,684
Gross Amounts, Land and Land Improvements	4,987
Gross Amounts, Building and Building Improvements	25,688
Total	30,675
Accumulated Depreciation	$ (251)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Wynn Road Vegas
Real Estate And Accumulated Depreciation [Line Items]
Location	Phoenix, AZ
Encumbrances	$ 18,828
Initial Cost, Land and Land Improvements	7,531
Initial Cost, Building and Building Improvements	18,712
Gross Amounts, Land and Land Improvements	7,531
Gross Amounts, Building and Building Improvements	18,712
Total	26,243
Accumulated Depreciation	$ (179)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Wynn Road Vegas East
Real Estate And Accumulated Depreciation [Line Items]
Location	Las Vegas, NV
Encumbrances	$ 6,650
Initial Cost, Land and Land Improvements	2,341
Initial Cost, Building and Building Improvements	6,741
Gross Amounts, Land and Land Improvements	2,341
Gross Amounts, Building and Building Improvements	6,741
Total	9,082
Accumulated Depreciation	$ (72)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2021
Industrial Properties | Southwest Light Industrial Portfolio | Building and Building Improvements | Tempe Southern Business Center
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 4
Industrial Properties | Northern Italy Industrial Portfolio | Isola Vicentina 1
Real Estate And Accumulated Depreciation [Line Items]
Location	Vicenza Province, Italy
Encumbrances	$ 12,782
Initial Cost, Land and Land Improvements	3,369
Initial Cost, Building and Building Improvements	19,757
Gross Amounts, Land and Land Improvements	3,369
Gross Amounts, Building and Building Improvements	19,757
Total	23,126
Accumulated Depreciation	$ (215)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Industrial Properties | Northern Italy Industrial Portfolio | Isola Vicentina 2
Real Estate And Accumulated Depreciation [Line Items]
Location	Vicenza Provence, Italy
Encumbrances	$ 16,003
Initial Cost, Land and Land Improvements	4,218
Initial Cost, Building and Building Improvements	24,736
Gross Amounts, Land and Land Improvements	4,218
Gross Amounts, Building and Building Improvements	24,736
Total	28,954
Accumulated Depreciation	$ (269)
Year Built	Dec. 31, 2010
Year Acquired	Dec. 31, 2021
Industrial Properties | Northern Italy Industrial Portfolio | Settimo Torinese
Real Estate And Accumulated Depreciation [Line Items]
Location	Turin Province, Italy
Encumbrances	$ 10,448
Initial Cost, Land and Land Improvements	3,939
Initial Cost, Building and Building Improvements	14,907
Gross Amounts, Land and Land Improvements	3,939
Gross Amounts, Building and Building Improvements	14,907
Total	18,846
Accumulated Depreciation	$ (162)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Industrial Properties | Northern Italy Industrial Portfolio | Peschiera Borromeo
Real Estate And Accumulated Depreciation [Line Items]
Location	Milan Province, Italy
Encumbrances	$ 5,232
Initial Cost, Land and Land Improvements	2,983
Initial Cost, Building and Building Improvements	6,404
Gross Amounts, Land and Land Improvements	2,983
Gross Amounts, Building and Building Improvements	6,404
Total	9,387
Accumulated Depreciation	$ (69)
Year Built	Dec. 31, 1970
Year Acquired	Dec. 31, 2021
Industrial Properties | Northern Italy Industrial Portfolio | Peschiera Borromeo
Real Estate And Accumulated Depreciation [Line Items]
Location	Milan Province, Italy
Encumbrances	$ 5,232
Initial Cost, Land and Land Improvements	2,983
Initial Cost, Building and Building Improvements	6,404
Gross Amounts, Land and Land Improvements	2,983
Gross Amounts, Building and Building Improvements	6,404
Total	9,387
Accumulated Depreciation	$ (69)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2021
Single Family Rental Properties
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 683,680
Initial Cost, Land and Land Improvements	304,150
Initial Cost, Building and Building Improvements	812,572
Gross Amounts, Land and Land Improvements	304,150
Gross Amounts, Building and Building Improvements	812,572
Total	1,116,722
Accumulated Depreciation	$ (1,237)
Single Family Rental Properties | Single-Family Rental Joint Venture
Real Estate And Accumulated Depreciation [Line Items]
Location	Various
Encumbrances	$ 69,840
Initial Cost, Land and Land Improvements	39,012
Initial Cost, Building and Building Improvements	61,403
Gross Amounts, Land and Land Improvements	39,012
Gross Amounts, Building and Building Improvements	61,403
Total	100,415
Accumulated Depreciation	$ (363)
Year Acquired	Dec. 31, 2021
Single Family Rental Properties | Sunbelt Single-Family Rental Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Location	Various
Encumbrances	$ 613,840
Initial Cost, Land and Land Improvements	265,138
Initial Cost, Building and Building Improvements	751,169
Gross Amounts, Land and Land Improvements	265,138
Gross Amounts, Building and Building Improvements	751,169
Total	1,016,307
Accumulated Depreciation	$ (874)
Year Acquired	Dec. 31, 2021
Hospitality
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 127,506
Initial Cost, Land and Land Improvements	43,580
Initial Cost, Building and Building Improvements	161,513
Gross Amounts, Land and Land Improvements	46,660
Gross Amounts, Building and Building Improvements	162,582
Total	209,242
Accumulated Depreciation	(13,077)
Hospitality | Land and Land Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	3,080
Hospitality | Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 1,069
Hospitality | U.S. Select Service Portfolio | Hyatt Place Boulder
Real Estate And Accumulated Depreciation [Line Items]
Location	Boulder, CO
Encumbrances	$ 47,948
Initial Cost, Land and Land Improvements	13,890
Initial Cost, Building and Building Improvements	33,673
Gross Amounts, Land and Land Improvements	13,897
Gross Amounts, Building and Building Improvements	33,838
Total	47,735
Accumulated Depreciation	$ (2,780)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Residence Inn Tampa
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 21,963
Initial Cost, Land and Land Improvements	7,826
Initial Cost, Building and Building Improvements	33,325
Gross Amounts, Land and Land Improvements	8,470
Gross Amounts, Building and Building Improvements	33,453
Total	41,923
Accumulated Depreciation	$ (2,632)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Courtyard by Marriott Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Location	Fort Myers, FL
Encumbrances	$ 14,703
Initial Cost, Land and Land Improvements	5,522
Initial Cost, Building and Building Improvements	21,035
Gross Amounts, Land and Land Improvements	6,089
Gross Amounts, Building and Building Improvements	21,121
Total	27,210
Accumulated Depreciation	$ (1,687)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | TownePlace Suites Tampa
Real Estate And Accumulated Depreciation [Line Items]
Location	Tampa, FL
Encumbrances	$ 11,708
Initial Cost, Land and Land Improvements	5,064
Initial Cost, Building and Building Improvements	16,712
Gross Amounts, Land and Land Improvements	5,471
Gross Amounts, Building and Building Improvements	16,780
Total	22,251
Accumulated Depreciation	$ (1,329)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Residence Inn Cleveland
Real Estate And Accumulated Depreciation [Line Items]
Location	Cleveland, OH
Initial Cost, Land and Land Improvements	$ 2,867
Initial Cost, Building and Building Improvements	19,944
Gross Amounts, Land and Land Improvements	3,048
Gross Amounts, Building and Building Improvements	20,401
Total	23,449
Accumulated Depreciation	$ (1,650)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Residence Inn Little Rock
Real Estate And Accumulated Depreciation [Line Items]
Location	Little Rock, AR
Encumbrances	$ 13,463
Initial Cost, Land and Land Improvements	2,410
Initial Cost, Building and Building Improvements	16,472
Gross Amounts, Land and Land Improvements	2,595
Gross Amounts, Building and Building Improvements	16,541
Total	19,136
Accumulated Depreciation	$ (1,271)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Hampton Inn Knoxville
Real Estate And Accumulated Depreciation [Line Items]
Location	Knoxville, TN
Encumbrances	$ 9,211
Initial Cost, Land and Land Improvements	1,343
Initial Cost, Building and Building Improvements	12,868
Gross Amounts, Land and Land Improvements	1,913
Gross Amounts, Building and Building Improvements	12,919
Total	14,832
Accumulated Depreciation	$ (1,071)
Year Built	Dec. 31, 2011
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Springhill Suites Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Location	Fort Myers, FL
Encumbrances	$ 8,510
Initial Cost, Land and Land Improvements	4,658
Initial Cost, Building and Building Improvements	7,484
Gross Amounts, Land and Land Improvements	5,177
Gross Amounts, Building and Building Improvements	7,529
Total	12,706
Accumulated Depreciation	$ (657)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2019
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Hyatt Place Boulder
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 7
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Residence Inn Tampa
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	644
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Courtyard by Marriott Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	567
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | TownePlace Suites Tampa
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	407
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Residence Inn Cleveland
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	181
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Residence Inn Little Rock
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	185
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Hampton Inn Knoxville
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	570
Hospitality | U.S. Select Service Portfolio | Land and Land Improvements | Springhill Suites Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	519
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Hyatt Place Boulder
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	165
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Residence Inn Tampa
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	128
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Courtyard by Marriott Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	86
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | TownePlace Suites Tampa
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	68
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Residence Inn Cleveland
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	457
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Residence Inn Little Rock
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	69
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Hampton Inn Knoxville
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	51
Hospitality | U.S. Select Service Portfolio | Building and Building Improvements | Springhill Suites Fort Myers
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	45
Office Properties
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	1,022,826
Initial Cost, Land and Land Improvements	134,294
Initial Cost, Building and Building Improvements	1,196,262
Gross Amounts, Land and Land Improvements	134,863
Gross Amounts, Building and Building Improvements	1,212,375
Total	1,347,238
Accumulated Depreciation	$ (76,156)
Office Properties | Sixty State Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Boston, MA
Encumbrances	$ 394,497
Initial Cost, Building and Building Improvements	478,150
Gross Amounts, Land and Land Improvements	472
Gross Amounts, Building and Building Improvements	488,413
Total	488,885
Accumulated Depreciation	$ (32,676)
Year Built	Dec. 31, 1978
Year Acquired	Dec. 31, 2020
Office Properties | Nashville Office
Real Estate And Accumulated Depreciation [Line Items]
Location	Nashville, TN
Encumbrances	$ 175,000
Initial Cost, Land and Land Improvements	21,647
Initial Cost, Building and Building Improvements	229,183
Gross Amounts, Land and Land Improvements	21,647
Gross Amounts, Building and Building Improvements	230,021
Total	251,668
Accumulated Depreciation	$ (12,982)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2020
Office Properties | M Campus B1
Real Estate And Accumulated Depreciation [Line Items]
Location	Meudon, France
Encumbrances	$ 69,130
Initial Cost, Land and Land Improvements	14,522
Initial Cost, Building and Building Improvements	63,636
Gross Amounts, Land and Land Improvements	14,522
Gross Amounts, Building and Building Improvements	63,636
Total	78,158
Accumulated Depreciation	$ (71)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Office Properties | M Campus B2
Real Estate And Accumulated Depreciation [Line Items]
Location	Meudon, France
Encumbrances	$ 125,975
Initial Cost, Land and Land Improvements	26,442
Initial Cost, Building and Building Improvements	120,442
Gross Amounts, Land and Land Improvements	26,442
Gross Amounts, Building and Building Improvements	120,442
Total	146,884
Accumulated Depreciation	$ (130)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Office Properties | Land and Land Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 569
Office Properties | Land and Land Improvements | Sixty State Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	472
Office Properties | Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	16,113
Office Properties | Building and Building Improvements | Sixty State Street
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	10,263
Office Properties | Building and Building Improvements | Nashville Office
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 838
Office Properties | Columbus Office Portfolio | 80 on the Commons
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 29,309
Initial Cost, Land and Land Improvements	1,486
Initial Cost, Building and Building Improvements	22,615
Gross Amounts, Land and Land Improvements	1,515
Gross Amounts, Building and Building Improvements	24,010
Total	25,525
Accumulated Depreciation	$ (2,740)
Year Built	Dec. 31, 2018
Year Acquired	Dec. 31, 2019
Office Properties | Columbus Office Portfolio | 250 High
Real Estate And Accumulated Depreciation [Line Items]
Location	Columbus, OH
Encumbrances	$ 25,242
Initial Cost, Land and Land Improvements	1,527
Initial Cost, Building and Building Improvements	27,449
Gross Amounts, Land and Land Improvements	1,595
Gross Amounts, Building and Building Improvements	27,463
Total	29,058
Accumulated Depreciation	$ (2,276)
Year Built	Dec. 31, 2015
Year Acquired	Dec. 31, 2019
Office Properties | Columbus Office Portfolio | Land and Land Improvements | 80 on the Commons
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 29
Office Properties | Columbus Office Portfolio | Land and Land Improvements | 250 High
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	68
Office Properties | Columbus Office Portfolio | Building and Building Improvements | 80 on the Commons
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1,395
Office Properties | Columbus Office Portfolio | Building and Building Improvements | 250 High
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 14
Office Properties | Stonebridge Office Portfolio | Stonebridge I
Real Estate And Accumulated Depreciation [Line Items]
Location	Alpharetta, GA
Encumbrances	$ 64,500
Initial Cost, Land and Land Improvements	4,618
Initial Cost, Building and Building Improvements	31,103
Gross Amounts, Land and Land Improvements	4,618
Gross Amounts, Building and Building Improvements	31,347
Total	35,965
Accumulated Depreciation	$ (1,198)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Office Properties | Stonebridge Office Portfolio | Stonebridge II
Real Estate And Accumulated Depreciation [Line Items]
Location	Alpharetta, GA
Initial Cost, Land and Land Improvements	$ 4,098
Initial Cost, Building and Building Improvements	27,708
Gross Amounts, Land and Land Improvements	4,098
Gross Amounts, Building and Building Improvements	27,767
Total	31,865
Accumulated Depreciation	$ (975)
Year Built	Dec. 31, 2006
Year Acquired	Dec. 31, 2021
Office Properties | Stonebridge Office Portfolio | Stonebridge I I I
Real Estate And Accumulated Depreciation [Line Items]
Location	Alpharetta, GA
Initial Cost, Land and Land Improvements	$ 6,489
Initial Cost, Building and Building Improvements	42,813
Gross Amounts, Land and Land Improvements	6,489
Gross Amounts, Building and Building Improvements	42,891
Total	49,380
Accumulated Depreciation	$ (1,458)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Office Properties | Stonebridge Office Portfolio | Building and Building Improvements | Stonebridge I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 244
Office Properties | Stonebridge Office Portfolio | Building and Building Improvements | Stonebridge II
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	59
Office Properties | Stonebridge Office Portfolio | Building and Building Improvements | Stonebridge I I I
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 78
Office Properties | Florida Office Portfolio | JTB Carlton
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Encumbrances	$ 139,173
Initial Cost, Land and Land Improvements	4,510
Initial Cost, Building and Building Improvements	13,905
Gross Amounts, Land and Land Improvements	4,510
Gross Amounts, Building and Building Improvements	14,354
Total	18,864
Accumulated Depreciation	$ (1,962)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | JTB Deerwood Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 1,303
Initial Cost, Building and Building Improvements	1,298
Gross Amounts, Land and Land Improvements	1,303
Gross Amounts, Building and Building Improvements	1,305
Total	2,608
Accumulated Depreciation	$ (124)
Year Built	Dec. 31, 1991
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | JTB Collier
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 4,540
Initial Cost, Building and Building Improvements	11,050
Gross Amounts, Land and Land Improvements	4,540
Gross Amounts, Building and Building Improvements	11,138
Total	15,678
Accumulated Depreciation	$ (1,367)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood N 100
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,173
Initial Cost, Building and Building Improvements	17,670
Gross Amounts, Land and Land Improvements	5,173
Gross Amounts, Building and Building Improvements	18,215
Total	23,388
Accumulated Depreciation	$ (2,442)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood N 200
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,152
Initial Cost, Building and Building Improvements	14,995
Gross Amounts, Land and Land Improvements	5,152
Gross Amounts, Building and Building Improvements	14,358
Total	19,510
Accumulated Depreciation	$ (1,284)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood N 300
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,723
Initial Cost, Building and Building Improvements	16,056
Gross Amounts, Land and Land Improvements	5,723
Gross Amounts, Building and Building Improvements	16,356
Total	22,079
Accumulated Depreciation	$ (1,961)
Year Built	Dec. 31, 2004
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood N 400
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,535
Initial Cost, Building and Building Improvements	18,722
Gross Amounts, Land and Land Improvements	5,535
Gross Amounts, Building and Building Improvements	18,838
Total	24,373
Accumulated Depreciation	$ (2,376)
Year Built	Dec. 31, 2005
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood S 100
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,761
Initial Cost, Building and Building Improvements	15,490
Gross Amounts, Land and Land Improvements	5,761
Gross Amounts, Building and Building Improvements	15,563
Total	21,324
Accumulated Depreciation	$ (2,354)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood S 200
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,548
Initial Cost, Building and Building Improvements	15,976
Gross Amounts, Land and Land Improvements	5,548
Gross Amounts, Building and Building Improvements	16,079
Total	21,627
Accumulated Depreciation	$ (2,544)
Year Built	Dec. 31, 1996
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood S 300
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,158
Initial Cost, Building and Building Improvements	14,265
Gross Amounts, Land and Land Improvements	5,158
Gross Amounts, Building and Building Improvements	15,054
Total	20,212
Accumulated Depreciation	$ (2,808)
Year Built	Dec. 31, 1997
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Deerwood S 400
Real Estate And Accumulated Depreciation [Line Items]
Location	Jacksonville, FL
Initial Cost, Land and Land Improvements	$ 5,062
Initial Cost, Building and Building Improvements	13,736
Gross Amounts, Land and Land Improvements	5,062
Gross Amounts, Building and Building Improvements	15,125
Total	20,187
Accumulated Depreciation	$ (2,428)
Year Built	Dec. 31, 1998
Year Acquired	Dec. 31, 2019
Office Properties | Florida Office Portfolio | Building and Building Improvements | JTB Carlton
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	$ 449
Office Properties | Florida Office Portfolio | Building and Building Improvements | JTB Deerwood Park
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	7
Office Properties | Florida Office Portfolio | Building and Building Improvements | JTB Collier
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	88
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood N 100
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	545
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood N 200
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	(637)
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood N 300
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	300
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood N 400
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	116
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood S 100
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	73
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood S 200
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	103
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood S 300
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	789
Office Properties | Florida Office Portfolio | Building and Building Improvements | Deerwood S 400
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1,389
Self-Storage Properties
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	197,724
Initial Cost, Land and Land Improvements	62,179
Initial Cost, Building and Building Improvements	257,864
Gross Amounts, Land and Land Improvements	62,179
Gross Amounts, Building and Building Improvements	257,864
Total	320,043
Accumulated Depreciation	$ (375)
Self-Storage Properties | Morningstar Self Storage Joint Venture | Alabaster
Real Estate And Accumulated Depreciation [Line Items]
Location	Alabaster, AL
Encumbrances	$ 11,231
Initial Cost, Land and Land Improvements	2,313
Initial Cost, Building and Building Improvements	15,843
Gross Amounts, Land and Land Improvements	2,313
Gross Amounts, Building and Building Improvements	15,843
Total	18,156
Accumulated Depreciation	$ (23)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Alamo Ranch
Real Estate And Accumulated Depreciation [Line Items]
Location	San Antonio, TX
Encumbrances	$ 7,593
Initial Cost, Land and Land Improvements	2,318
Initial Cost, Building and Building Improvements	9,951
Gross Amounts, Land and Land Improvements	2,318
Gross Amounts, Building and Building Improvements	9,951
Total	12,269
Accumulated Depreciation	$ (14)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Babcock
Real Estate And Accumulated Depreciation [Line Items]
Location	San Antonio, TX
Encumbrances	$ 5,872
Initial Cost, Land and Land Improvements	2,062
Initial Cost, Building and Building Improvements	7,448
Gross Amounts, Land and Land Improvements	2,062
Gross Amounts, Building and Building Improvements	7,448
Total	9,510
Accumulated Depreciation	$ (11)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Bryan/College Station
Real Estate And Accumulated Depreciation [Line Items]
Location	College Station, TX
Encumbrances	$ 12,872
Initial Cost, Land and Land Improvements	3,036
Initial Cost, Building and Building Improvements	17,786
Gross Amounts, Land and Land Improvements	3,036
Gross Amounts, Building and Building Improvements	17,786
Total	20,822
Accumulated Depreciation	$ (25)
Year Built	Dec. 31, 2009
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Cambell Station
Real Estate And Accumulated Depreciation [Line Items]
Location	Nashville, TN
Encumbrances	$ 10,598
Initial Cost, Land and Land Improvements	4,563
Initial Cost, Building and Building Improvements	12,615
Gross Amounts, Land and Land Improvements	4,563
Gross Amounts, Building and Building Improvements	12,615
Total	17,178
Accumulated Depreciation	$ (18)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | College Street I
Real Estate And Accumulated Depreciation [Line Items]
Location	Charlotte, NC
Encumbrances	$ 6,742
Initial Cost, Land and Land Improvements	2,688
Initial Cost, Building and Building Improvements	8,205
Gross Amounts, Land and Land Improvements	2,688
Gross Amounts, Building and Building Improvements	8,205
Total	10,893
Accumulated Depreciation	$ (12)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Cornelius
Real Estate And Accumulated Depreciation [Line Items]
Location	Cornelius, NC
Encumbrances	$ 10,460
Initial Cost, Land and Land Improvements	3,217
Initial Cost, Building and Building Improvements	13,736
Gross Amounts, Land and Land Improvements	3,217
Gross Amounts, Building and Building Improvements	13,736
Total	16,953
Accumulated Depreciation	$ (20)
Year Built	Dec. 31, 2008
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | FL Mall
Real Estate And Accumulated Depreciation [Line Items]
Location	Orlando, FL
Encumbrances	$ 5,418
Initial Cost, Land and Land Improvements	1,949
Initial Cost, Building and Building Improvements	6,803
Gross Amounts, Land and Land Improvements	1,949
Gross Amounts, Building and Building Improvements	6,803
Total	8,752
Accumulated Depreciation	$ (10)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Highway 78
Real Estate And Accumulated Depreciation [Line Items]
Location	Wylie, TX
Encumbrances	$ 8,522
Initial Cost, Land and Land Improvements	3,098
Initial Cost, Building and Building Improvements	10,714
Gross Amounts, Land and Land Improvements	3,098
Gross Amounts, Building and Building Improvements	10,714
Total	13,812
Accumulated Depreciation	$ (15)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Ladson
Real Estate And Accumulated Depreciation [Line Items]
Location	Charleston, SC
Encumbrances	$ 6,031
Initial Cost, Land and Land Improvements	2,044
Initial Cost, Building and Building Improvements	7,688
Gross Amounts, Land and Land Improvements	2,044
Gross Amounts, Building and Building Improvements	7,688
Total	9,732
Accumulated Depreciation	$ (11)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Lake Wylie
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Wylie, SC
Encumbrances	$ 5,477
Initial Cost, Land and Land Improvements	2,928
Initial Cost, Building and Building Improvements	5,947
Gross Amounts, Land and Land Improvements	2,928
Gross Amounts, Building and Building Improvements	5,947
Total	8,875
Accumulated Depreciation	$ (9)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Moorseville
Real Estate And Accumulated Depreciation [Line Items]
Location	Mooresville, NC
Encumbrances	$ 9,866
Initial Cost, Land and Land Improvements	2,602
Initial Cost, Building and Building Improvements	13,388
Gross Amounts, Land and Land Improvements	2,602
Gross Amounts, Building and Building Improvements	13,388
Total	15,990
Accumulated Depreciation	$ (19)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Mountain Brook
Real Estate And Accumulated Depreciation [Line Items]
Location	Birmingham, AL
Encumbrances	$ 12,457
Initial Cost, Land and Land Improvements	5,723
Initial Cost, Building and Building Improvements	14,463
Gross Amounts, Land and Land Improvements	5,723
Gross Amounts, Building and Building Improvements	14,463
Total	20,186
Accumulated Depreciation	$ (21)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Bethany
Real Estate And Accumulated Depreciation [Line Items]
Location	Bethany, OK
Encumbrances	$ 4,251
Initial Cost, Land and Land Improvements	1,688
Initial Cost, Building and Building Improvements	5,486
Gross Amounts, Land and Land Improvements	1,688
Gross Amounts, Building and Building Improvements	5,486
Total	7,174
Accumulated Depreciation	$ (8)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Edmond
Real Estate And Accumulated Depreciation [Line Items]
Location	Edmond, OK
Encumbrances	$ 4,310
Initial Cost, Land and Land Improvements	2,550
Initial Cost, Building and Building Improvements	5,282
Gross Amounts, Land and Land Improvements	2,550
Gross Amounts, Building and Building Improvements	5,282
Total	7,832
Accumulated Depreciation	$ (8)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC MacArthur
Real Estate And Accumulated Depreciation [Line Items]
Location	Oklahoma City, OK
Encumbrances	$ 5,635
Initial Cost, Land and Land Improvements	1,098
Initial Cost, Building and Building Improvements	7,642
Gross Amounts, Land and Land Improvements	1,098
Gross Amounts, Building and Building Improvements	7,642
Total	8,740
Accumulated Depreciation	$ (11)
Year Built	Dec. 31, 2000
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Midwest City
Real Estate And Accumulated Depreciation [Line Items]
Location	Midwest City, OK
Encumbrances	$ 7,395
Initial Cost, Land and Land Improvements	1,968
Initial Cost, Building and Building Improvements	9,874
Gross Amounts, Land and Land Improvements	1,968
Gross Amounts, Building and Building Improvements	9,874
Total	11,842
Accumulated Depreciation	$ (14)
Year Built	Dec. 31, 1990
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Norman
Real Estate And Accumulated Depreciation [Line Items]
Location	Norman, OK
Encumbrances	$ 6,386
Initial Cost, Land and Land Improvements	1,342
Initial Cost, Building and Building Improvements	8,634
Gross Amounts, Land and Land Improvements	1,342
Gross Amounts, Building and Building Improvements	8,634
Total	9,976
Accumulated Depreciation	$ (12)
Year Built	Dec. 31, 2003
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC North Penn
Real Estate And Accumulated Depreciation [Line Items]
Location	Oklahoma City, OK
Encumbrances	$ 3,342
Initial Cost, Land and Land Improvements	1,033
Initial Cost, Building and Building Improvements	4,413
Gross Amounts, Land and Land Improvements	1,033
Gross Amounts, Building and Building Improvements	4,413
Total	5,446
Accumulated Depreciation	$ (6)
Year Built	Dec. 31, 1994
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Santa Fe
Real Estate And Accumulated Depreciation [Line Items]
Location	Oklahoma City, OK
Encumbrances	$ 4,567
Initial Cost, Land and Land Improvements	1,003
Initial Cost, Building and Building Improvements	6,166
Gross Amounts, Land and Land Improvements	1,003
Gross Amounts, Building and Building Improvements	6,166
Total	7,169
Accumulated Depreciation	$ (9)
Year Built	Dec. 31, 2001
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC South Penn
Real Estate And Accumulated Depreciation [Line Items]
Location	Oklahoma City, OK
Encumbrances	$ 4,627
Initial Cost, Land and Land Improvements	1,269
Initial Cost, Building and Building Improvements	6,165
Gross Amounts, Land and Land Improvements	1,269
Gross Amounts, Building and Building Improvements	6,165
Total	7,434
Accumulated Depreciation	$ (9)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | OKC Camden
Real Estate And Accumulated Depreciation [Line Items]
Location	Oklahoma City, OK
Encumbrances	$ 2,135
Initial Cost, Land and Land Improvements	574
Initial Cost, Building and Building Improvements	2,863
Gross Amounts, Land and Land Improvements	574
Gross Amounts, Building and Building Improvements	2,863
Total	3,437
Accumulated Depreciation	$ (4)
Year Built	Dec. 31, 2013
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | Rea
Real Estate And Accumulated Depreciation [Line Items]
Location	Waxhaw, NC
Encumbrances	$ 17,795
Initial Cost, Land and Land Improvements	4,661
Initial Cost, Building and Building Improvements	24,139
Gross Amounts, Land and Land Improvements	4,661
Gross Amounts, Building and Building Improvements	24,139
Total	28,800
Accumulated Depreciation	$ (37)
Year Built	Dec. 31, 2016
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | South Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Charlotte, NC
Encumbrances	$ 9,570
Initial Cost, Land and Land Improvements	2,519
Initial Cost, Building and Building Improvements	12,957
Gross Amounts, Land and Land Improvements	2,519
Gross Amounts, Building and Building Improvements	12,957
Total	15,476
Accumulated Depreciation	$ (19)
Year Built	Dec. 31, 2017
Year Acquired	Dec. 31, 2021
Self-Storage Properties | Morningstar Self Storage Joint Venture | West WT Harris
Real Estate And Accumulated Depreciation [Line Items]
Location	Charlotte, NC
Encumbrances	$ 14,572
Initial Cost, Land and Land Improvements	3,933
Initial Cost, Building and Building Improvements	19,656
Gross Amounts, Land and Land Improvements	3,933
Gross Amounts, Building and Building Improvements	19,656
Total	23,589
Accumulated Depreciation	$ (30)
Year Built	Dec. 31, 1995
Year Acquired	Dec. 31, 2021
Medical Office Properties
Real Estate And Accumulated Depreciation [Line Items]
Location	Durham, NC
Encumbrances	$ 24,908
Initial Cost, Land and Land Improvements	13,492
Initial Cost, Building and Building Improvements	20,157
Gross Amounts, Land and Land Improvements	13,492
Gross Amounts, Building and Building Improvements	20,193
Total	33,685
Accumulated Depreciation	$ (1,783)
Year Built	Dec. 31, 2007
Year Acquired	Dec. 31, 2019
Medical Office Properties | Exchange On Erwin Commercial
Real Estate And Accumulated Depreciation [Line Items]
Location	Chevy Chase, MD
Encumbrances	$ 108,160
Initial Cost, Land and Land Improvements	31,902
Initial Cost, Building and Building Improvements	112,291
Gross Amounts, Land and Land Improvements	32,110
Gross Amounts, Building and Building Improvements	113,551
Total	145,661
Accumulated Depreciation	$ (6,911)
Year Built	Dec. 31, 2019
Year Acquired	Dec. 31, 2020
Medical Office Properties | Barlow Building
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 133,068
Initial Cost, Land and Land Improvements	45,394
Initial Cost, Building and Building Improvements	132,448
Gross Amounts, Land and Land Improvements	45,602
Gross Amounts, Building and Building Improvements	133,744
Total	179,346
Accumulated Depreciation	(8,694)
Medical Office Properties | Land and Land Improvements | Exchange On Erwin Commercial
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	208
Medical Office Properties | Land and Land Improvements | Barlow Building
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	208
Medical Office Properties | Building and Building Improvements
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	36
Medical Office Properties | Building and Building Improvements | Exchange On Erwin Commercial
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1,260
Medical Office Properties | Building and Building Improvements | Barlow Building
Real Estate And Accumulated Depreciation [Line Items]
Costs Capitalized Subsequent to Acquisition	1,296
Other Properties
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	185,356
Initial Cost, Land and Land Improvements	88,919
Initial Cost, Building and Building Improvements	180,198
Gross Amounts, Land and Land Improvements	88,919
Gross Amounts, Building and Building Improvements	180,198
Total	269,117
Accumulated Depreciation	$ (701)
Other Properties | Comfort Hotel Vesterbro
Real Estate And Accumulated Depreciation [Line Items]
Location	Copenhagen, Denmark
Encumbrances	$ 50,702
Initial Cost, Land and Land Improvements	20,335
Initial Cost, Building and Building Improvements	58,315
Gross Amounts, Land and Land Improvements	20,335
Gross Amounts, Building and Building Improvements	58,315
Total	78,650
Accumulated Depreciation	$ (482)
Year Built	Dec. 31, 1999
Year Acquired	Dec. 31, 2021
Other Properties | Iberostar Las Dalias
Real Estate And Accumulated Depreciation [Line Items]
Location	Tenerife, Spain
Encumbrances	$ 55,654
Initial Cost, Land and Land Improvements	26,751
Initial Cost, Building and Building Improvements	37,993
Gross Amounts, Land and Land Improvements	26,751
Gross Amounts, Building and Building Improvements	37,993
Total	64,744
Accumulated Depreciation	$ (48)
Year Built	Dec. 31, 1985
Year Acquired	Dec. 31, 2021
Other Properties | Marketplace
Real Estate And Accumulated Depreciation [Line Items]
Location	West Palm Beach, FL
Encumbrances	$ 79,000
Initial Cost, Land and Land Improvements	41,833
Initial Cost, Building and Building Improvements	83,890
Gross Amounts, Land and Land Improvements	41,833
Gross Amounts, Building and Building Improvements	83,890
Total	125,723
Accumulated Depreciation	$ (171)
Year Built	Dec. 31, 2014
Year Acquired	Dec. 31, 2021

Schedule III Real Estate and _3

Schedule III Real Estate and Accumulated Depreciation (Parenthetical) (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Real Estate And Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Federal Income Tax Basis		$ 16,900,000
Accumulated Depreciation Furniture Fixtures And Equipment		34,800
Principal Balance Outstanding	[1]	11,354,191	$ 3,295,684
Hospitality Properties | U.S. Select Service Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		47,900
Industrial Properties | Midwest Industrial Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		210,000
Industrial Properties | Independence Logistics Park
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		117,000
Industrial Properties | Reno Logistic Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		266,000
Office Properties | Florida Office Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		139,200
Office Properties | Stonebridge Office Portfolio
Real Estate And Accumulated Depreciation [Line Items]
Principal Balance Outstanding		64,500
Furniture, Fixtures and Equipment
Real Estate And Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Net		$ 264,600
[1]	T he majority of the Company’s mortgages contain yield or spread maintenance provisions.

Activity for real estate and ac

Activity for real estate and accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Real Estate:
Balance at the beginning of year	$ 4,626,212	$ 1,823,992
Balance at the end of the year	17,448,136	4,626,212
Accumulated Depreciation:
Balance at the beginning of the year	(130,540)	(25,948)
Accumulated depreciation	(237,753)	(104,592)
Balance at the end of the year	(368,293)	(130,540)
Land and Land Improvements
Real Estate:
Additions during the year	2,044,398	366,587
Furniture, Fixtures and Equipment
Real Estate:
Additions during the year	187,749	30,540
Building and Building Improvements
Real Estate:
Additions during the year	$ 10,589,777	$ 2,405,093