v3.25.2
Summary of Significant Accounting Policies - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Property
Dec. 31, 2023
USD ($)
Property
Dec. 31, 2022
USD ($)
Significant Accounting Policies [Line Items]      
Investments in real estate, net $ 17,830,254,000 $ 19,580,358,000  
Assets 20,991,989,000 23,113,974,000  
Liabilities 15,298,384,000 15,517,302,000  
Aggregate foreign currency transaction gains (losses) (41,100,000) 14,800,000 $ (49,500,000)
Unrealized gains (losses) on investments in real estate debt 5,300,000 10,000,000 (18,300,000)
Impairment of investments in real estate (150,392,000) (188,804,000) 0
Fair value of single family rental properties 856,100,000 53,800,000  
Carrying value of single family rental properties $ 855,600,000 $ 53,000,000  
Number of hospitality properties | Property 1 2  
Number of industrial properties | Property 1    
Other Liabilities $ 447,095,000 $ 484,358,000  
Secured financings on investments in real estate debt of fair value below outstanding principal balance 423,300,000 390,900,000  
Deferred income $ 8,430,000 11,894,000  
Minimum REIT distribution percentage 90.00%    
Minimum OECD corporate tax percentage 15.00%    
Income tax benefit (expense) $ (10,100,000) $ (5,000,000) (2,100,000)
Net operating loss carryforwards $ 93,200,000    
Change in accounting principle, accounting standards update, adopted true    
Change in accounting principle, accounting standards update, adoption date Jan. 01, 2024    
Change in accounting principle, accounting standards update, immaterial effect true    
Accounting Standards Update [Extensible Enumeration] us-gaap:AccountingStandardsUpdate202307Member    
DST Properties      
Significant Accounting Policies [Line Items]      
Number of Real Estate Properties | Property 2 0  
Investments in real estate, net $ 163,000,000    
Triple Net Sale and Leaseback Property      
Significant Accounting Policies [Line Items]      
Deferred tax liability, net 35,500,000 $ 30,700,000  
VIEs      
Significant Accounting Policies [Line Items]      
Assets 0 0  
Liabilities $ 100,000,000 0  
Class S Shares      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 0.85%    
Class S Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions and dealer manager fee percentage 3.50%    
Class T Shares      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 0.85%    
Class T Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions and dealer manager fee percentage 3.50%    
Class D Shares      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 0.25%    
Class D Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions and dealer manager fee percentage 1.50%    
Accrued Stockholder Servicing Fee | Common Stock Class T, Class S and Class D      
Significant Accounting Policies [Line Items]      
Other Liabilities $ 262,300,000 $ 301,000,000  
Advisor      
Significant Accounting Policies [Line Items]      
Period to reimburse the advisor for all organization and offering expenses   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]      
Other Liabilities $ 7,300,000    
Advisor | Advanced Organization And Offering Costs | Primary Offering      
Significant Accounting Policies [Line Items]      
Other Liabilities $ 7,300,000    
Dealer Manager | Class S Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions percentage 3.50%    
Dealer Manager | Class T Shares      
Significant Accounting Policies [Line Items]      
Upfront dealer manager fee percentage 0.50%    
Dealer stockholder servicing fee percentage 0.20%    
Annual stockholder servicing fee percentage 0.85%    
Dealer Manager | Class T Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions percentage 3.00%    
Upfront selling commissions and dealer manager fee percentage 3.50%    
Dealer Manager | Class D Shares      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 0.25%    
Dealer Manager | Class D Shares | Maximum      
Significant Accounting Policies [Line Items]      
Upfront selling commissions percentage 1.50%    
Dealer Manager | Class S Share And T Shares [Member]      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 0.85%    
Dealer Manager | Class I Shares (Member)      
Significant Accounting Policies [Line Items]      
Annual stockholder servicing fee percentage 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%    
Accounts Payable, Accrued Expenses and Other Liabilities      
Significant Accounting Policies [Line Items]      
Deferred income $ 3,400,000 $ 3,400,000  
Multifamily      
Significant Accounting Policies [Line Items]      
Number of real estate properties classified as held for sale | Property 11    
Hospitality Properties      
Significant Accounting Policies [Line Items]      
Number of real estate properties classified as held for sale | Property 1 0  
Other Revenue      
Significant Accounting Policies [Line Items]      
Other Income $ 800 $ 800 $ 800