Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Investments in real estate, net	$ 3,406,555
Investments in real estate-related securities	915,742
Cash and cash equivalents	31,166	$ 200
Restricted cash	126,563	0
Other assets	145,282
Total assets	4,625,308	200
Liabilities and Equity
Mortgage notes, term loans, and revolving credit facilities, net	2,111,291
Repurchase agreements	682,848
Affiliate line of credit	5,374
Due to affiliates	133,071	86
Accounts payable, accrued expenses, and other liabilities	182,835	29
Total liabilities	3,115,419	115
Commitments and contingencies
Redeemable non-controlling interest	250
Equity
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; no shares issued and outstanding as of December 31, 2017 and 2016
Additional paid-in capital	1,616,720	200
Accumulated deficit and cumulative distributions	(132,633)	(115)
Total stockholders' equity	1,485,791	85
Non-controlling interests	23,848
Total equity	1,509,639	85
Total liabilities and equity	4,625,308	200
Class S Shares [Member]
Equity
Common stock value	1,301
Class T Shares [Member]
Equity
Common stock value	56
Class D Shares [Member]
Equity
Common stock value	40
Class I Shares [Member]
Equity
Common stock value	$ 307