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	$ (836,164)	$ (867,402)	$ (414,243)
Adjustments to reconcile net loss to net cash provided by operating activities:
Management fee	445,291	224,776	108,115
Performance participation allocation	1,378,959	192,648	141,396
Impairment of investments in real estate	0	12,343	0
Depreciation and amortization	1,919,932	1,362,151	824,039
Net gain on dispositions of real estate	(7,881)	(113,173)	(35,035)
Loss on extinguishment of debt	16,331	10,356	0
Unrealized (gain) loss on changes in fair value of financial instruments	(1,035,763)	241,554	(47,651)
Income from unconsolidated entities	(205,980)	(88,571)	0
Distributions of earnings from unconsolidated entities	112,517	80,663	0
Other items	(88,382)	(28,888)	(8,812)
Change in assets and liabilities:
(Increase) / decrease in other assets	(347,998)	(72,005)	(117,527)
Increase / (decrease) in due to affiliates	2,799	4,347	3,893
Increase / (decrease) in other liabilities	429,424	13,105	146,752
Net cash provided by operating activities	1,783,085	971,904	600,927
Cash flows from investing activities:
Acquisitions of real estate	(28,886,135)	(6,547,909)	(15,669,598)
Capital improvements to real estate	(576,304)	(327,205)	(199,768)
Proceeds from disposition of real estate	267,045	434,880	79,118
Pre-acquisition costs and deposits	(152,220)	(11,692)	0
Investment in unconsolidated entities	(5,236,968)	(808,312)	0
Return of capital from unconsolidated entities	45,761	0	0
Purchase of investments in real estate debt	(5,880,308)	(1,232,955)	(2,944,340)
Proceeds from sale/repayment of investments in real estate debt	1,642,388	993,229	739,591
Purchase of real estate-related equity securities	(1,795,353)	(718,771)	0
Proceeds from sale of real estate-related equity securities	0	179,904	0
Net cash used in investing activities	(40,572,094)	(8,038,831)	(17,994,997)
Cash flows from financing activities:
Proceeds from issuance of common stock	23,024,165	7,513,895	7,431,641
Offering costs paid	(180,186)	(95,069)	(77,156)
Subscriptions received in advance	1,746,910	508,817	796,729
Repurchase of common stock	(1,082,105)	(1,200,517)	(75,279)
Repurchase of management fee shares	(372,230)	(171,300)	(114,843)
Borrowings under mortgage notes, term loans, and secured revolving credit facilities	24,656,316	8,860,936	17,399,268
Repayments of mortgage notes, term loans, and secured revolving credit facilities	(8,676,134)	(6,834,346)	(8,328,912)
Borrowings under secured financings of investments in real estate debt	12,887,626	2,228,336	1,831,464
Repayments of secured financings of investments in real estate debt	(10,296,189)	(3,209,683)	(453,050)
Borrowings under affiliate unsecured revolving credit facility	160,000	175,000	2,105,500
Repayments of affiliate unsecured revolving credit facility	(160,000)	(175,000)	(2,105,500)
Borrowings under unsecured revolving credit facilities	1,200,000	130,000	240,000
Repayments of unsecured revolving credit facilities	(1,200,000)	(130,000)	(240,000)
Payment of deferred financing costs	(257,998)	(72,881)	(116,126)
Redemption of redeemable non-controlling interest	(111,949)	(83,625)	(35,435)
Redemption of affiliate service provider incentive compensation awards	(1,157)	(2,239)	(718)
Contributions from non-controlling interests	671,602	27,124	132,852
Distributions to and redemptions of non-controlling interests	(135,110)	(46,755)	(39,607)
Distributions	(711,639)	(420,945)	(153,669)
Net cash provided by financing activities	41,161,922	7,001,748	18,197,159
Net change in cash and cash equivalents and restricted cash	2,372,913	(65,179)	803,089
Cash and cash equivalents and restricted cash, beginning of year	1,044,523	1,109,702	0
Effects of currency translation on cash, cash equivalents and restricted cash	1,145	0	306,613
Cash and cash equivalents and restricted cash, end of year	3,418,581	1,044,523	1,109,702
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	989,674	333,388	204,269
Restricted cash	2,428,907	711,135	905,433
Total cash and cash equivalents and restricted cash	3,418,581	1,044,523	1,109,702
Supplemental disclosures:
Interest paid	726,714	674,594	461,354
Non-cash investing and financing activities:
Assumption of mortgage notes in conjunction with acquisitions of real estate	5,494,319	944,112	1,202,713
Acquisition of other assets in conjunction with acquisitions of real estate	47,740	0	0
Issuance of BREIT OP units as consideration for acquisitions of real estate	395,752	770	64,698
Recognition of financing lease liability	16,855	0	56,008
Assumed operating ground lease liabilities	0	0	50,612
Accrued pre-acquisition costs	1,199	0	0
Accrued capital expenditures and acquisition related costs	23,139	13,402	17,589
Contributions from non-controlling interests	0	0	2,520
Contribution from non-controlling interests for acquisitions of real estate	1,660,443	0	0
Distribution to non-controlling interest from deconsolidation	561,798	0	0
Distribution from investment in unconsolidated entities resulting from consolidation	38,294	0	0
Accrued distributions	99,251	34,682	34,849
Accrued stockholder servicing fee due to affiliate	630,181	126,872	240,043
Redeemable non-controlling interest issued as settlement of performance participation allocation	1,571,607	141,396	37,484
Allocation to redeemable non-controlling interest	103,442	8,770	6,830
Distribution reinvestment	792,953	492,664	245,335
Accrued common stock repurchases	100,802	83,350	46,247
Accrued common stock repurchases due to affiliate	0	50,844	0
Payable for unsettled investments in real estate debt	21,426	0	362
Receivable for unsettled investments in real estate debt	75	16,691	0
Issuance of BREIT OP units as settlement of affiliate incentive compensation awards	0	0	4,714
Class I Shares
Non-cash investing and financing activities:
Exchange of redeemable non-controlling interest	801,645	9,228	11,620
Class B Units
Non-cash investing and financing activities:
Exchange of redeemable non-controlling interest	68,453	48,543	0
Real Estate
Non-cash investing and financing activities:
Assumption of other liabilities in conjunction with acquisitions	527,665	5,688	71,784
Investments in Unconsolidated Entities
Non-cash investing and financing activities:
Assumption of other liabilities in conjunction with acquisitions	$ 9,435	$ 0	$ 0