| Stafford International Timberland Fund X (usd) Scsp | Stafford Capital Partners Limited | $611.7M |
| Canam Logistics I, L.P | Affinius Capital Advisors LLC | $610.7M |
| Rlif Co-Investment Fund I, L.P. | Realterm Transportation LLC | $610.5M |
| Kkr Real Estate Partners Europe II (eur) Scsp | Kohlberg Kravis Roberts & Co. L.P. | $608.6M |
| Cal 3650 Sf Investco LP | 3650 REIT Investment Management LLC | $608.6M |
| Dw Propco Jkw, LP | Divco West Real Estate Services, LLC | $608.4M |
| Vistria Housing Fund F-2, LP | The Vistria Group, LP | $606.7M |
| Bpc Real Estate Debt Fund LP | Beach Point Capital Management LP | $605.6M |
| Trio Net Lease I, LP | J.P. Morgan Investment Management Inc. | $604.7M |
| Related Real Estate Debt Fund IV, LP | Related Fund Management, LLC | $604.3M |
| Msd Knox Investors, LLC | Msd Partners, L.P. | $604.2M |
| Prospect Ridge Real Estate Debt Fund L.P. | Prospect Ridge Advisors, LLC | $603.1M |
| Tgm Realty Corp #20 | Tgm Associates L.P. | $602.9M |
| Ares Gred (master) Scsp | Ares Management LLC | $602.6M |
| Real Estate Plus Fund LP | Wafra Inc. | $601.1M |
| Srep V Salud (civ) LP | Stepstone Group Real Estate LP | $600.2M |
| Light Year One Holdings Ltd. | Ares Management LLC | $599.8M |
| Waterton Residential Property Venture XIII, L.P. | Waterton Investment Adviser, L.L.C. | $599.2M |
| Real Estate Secondaries Account (n) L.P. | Brookfield Asset Management Pic US, LLC | $599.2M |
| Tishman Speyer Date Palm Partners, L.P. | Tishman Speyer Properties, L.P. | $598.8M |
| Bsrep II Center Parcs Co-Invest L.P. | Brookfield Asset Management Pic US, LLC | $597M |
| Bridge Debt Strategies Fund V-R LP | Bridge Multifamily Fund Manager LLC | $596.3M |
| Blue Owl Real Estate (t) LP | Blue Owl Real Estate Capital LLC | $594.5M |
| Blackstone Real Estate Partners Asia III (lux) Scsp | Blackstone Real Estate Advisors L.P. | $594.3M |
| Ram Realty Partners V LP & Ram V Co-Invest LP | Ram Realty Advisors LLC | $594.2M |
| Palatine Real Estate Fund IV, LP | Palatine Fund Advisors, LLC | $593.5M |
| Brookfield Strategic Real Estate Partners V-C L.P | Brookfield Asset Management Pic US, LLC | $593.3M |
| Terracap Partners V (institutional) LP | Terracap Management LLC | $591.2M |
| Centre Street Real Estate Co-Investment Fund, L.P. | Lasalle Investment Management, Inc. | $589.8M |
| Artemis Real Estate Partners Income and Growth Fund II, L.P. | Artemis Real Estate Partners, LLC | $589.2M |
| Dune Real Estate Fund IV LP | Dune Real Estate Partners LP | $588.3M |
| Divcore Fund VII US, LP | Divco West Real Estate Services, LLC | $587.9M |
| Stepstone Real Estate Partners V, LP | Stepstone Group Real Estate LP | $586.6M |
| Related Real Estate Debt Fund (cayman) IV, LP | Related Fund Management, LLC | $583.9M |
| Apollo European Principal Finance Fund IV (dollar B), L.P. | Apollo Capital Management, L.P. | $583.4M |
| Bridge Multifamily Fund V International LP | Bridge Multifamily Fund Manager LLC | $582.9M |
| Meadow Real Estate Fund IV LP | Meadow Capital Management LLC | $582.2M |
| Bridge Debt Strategies Fund III International Master LP | Bridge Multifamily Fund Manager LLC | $580.3M |
| Nuveen Cpace Lending Fund I LP | Nuveen Alternatives Advisors LLC | $579.5M |
| Milestone Real Estate Investors VI, LP | The Milestone Real Estate Group, LP | $579.3M |
| Blackstone Real Estate Debt Strategies V (lux) Scsp | Blackstone Real Estate Special Situations Advisors L.L.C. | $574.8M |
| Carlyle Europe Realty Fund | Carlyle Investment Management L.L.C. | $574.2M |
| Stockbridge U.S. Logistics, LP | Stockbridge Capital Group, LLC | $572.2M |
| Greystar Global Strategic Partners I (US Non-Reit), LP | Greystar Investment Group, LLC | $570.6M |
| Jamestown 30 L.P. & Co. Geschlossene Investment Kg | Jamestown, L.P. | $568.2M |
| Blue Owl Digital Infrastructure Fund Ii-B (aiv) LP | Blue Owl Real Estate Capital LLC | $568M |
| Ares Real Estate Mexico Fondo IV F/ 5740 | Ares Management LLC | $567.4M |
| J-Cal, LLC | J.P. Morgan Investment Management Inc. | $566.8M |
| Dw Hi2 Holdco, LP | Divco West Real Estate Services, LLC | $566.7M |
| Jdp IV Co-Invest LP | Ares Management LLC | $564.5M |