| Sof-11 International, Scsp | Starwood Capital Group Management, L.L.C. | $1.73B |
| Stockbridge More Communities, LLC | Stockbridge Capital Group, LLC | $1.73B |
| Columbia Tract Partners I-A, L.P. | Columbia Capital, L.P. | $1.73B |
| European Opportunistic Property Fund V Scsp | JPMorgan Asset Management (UK) Limited | $1.72B |
| Brookfield Premier Real Estate Partners Europe Scsp | Brookfield Asset Management Pic US, LLC | $1.72B |
| Hsam Residential Property Partners, LP | Rockwood Capital, LLC | $1.72B |
| PGIM Real Estate US Core Debt Fund | PGIM, Inc. | $1.7B |
| Mp Logistics Development REIT | Affinius Capital Advisors LLC | $1.69B |
| Starwood Opportunity Fund XI U.S. Institutional Nre, L.P. | Starwood Capital Group Management, L.L.C. | $1.67B |
| Japan Development Partners IV LP | Ares Management LLC | $1.65B |
| Blackstone Real Estate Credit Income Fund L.P. | Blackstone Real Estate Special Situations Advisors L.L.C. | $1.64B |
| Rialto Real Estate Fund IV - Debt, LP | Rialto Capital Management, LLC | $1.64B |
| Blue Owl Digital Infrastructure Fund Iii-B LP | Blue Owl Real Estate Capital LLC | $1.64B |
| Smf Global LP | J.P. Morgan Investment Management Inc. | $1.63B |
| Pennybacker VI, LP | Pennybacker Capital Management, LLC | $1.62B |
| Milestone Real Estate Investors V, LP | The Milestone Real Estate Group, LP | $1.6B |
| Carmel Partners Investment Fund VII, LP | Carmel Management III, LLC | $1.6B |
| Cortland Enhanced Value Fund VI, L.P. | Cortland Investment Management, LLC | $1.57B |
| Beacon Capital Strategic Partners VII, L.P. | Beacon Capital Partners, LLC | $1.57B |
| Eo Holdings LLC and Subsidiaries | Vanbarton Group LLC | $1.55B |
| Walton Street Real Estate Core-Plus Fund, L.P. | Walton Street Capital, L.L.C. | $1.55B |
| 1114 6th Avenue Holdings LLC | Brookfield Asset Management Pic US, LLC | $1.53B |
| Starwood Opportunity Fund XI U.S. Private Nre, L.P. | Starwood Capital Group Management, L.L.C. | $1.53B |
| Cbre Real Estate Partners 2 Scsp | Cbre Investment Management Indirect Limited | $1.52B |
| Bds IV Green Bridge LP | Bridge Multifamily Fund Manager LLC | $1.51B |
| Prime/Park Labrea Investment, LP | Prime Finance Advisor, L.P. | $1.5B |
| C-Iii Recovery Fund III L.P. | C-Iii Investment Management LLC | $1.5B |
| Asana Partners Fund II, LP | Asana Partners, LP | $1.49B |
| Rialto Real Estate Fund III - Debt, LP | Rialto Capital Management, LLC | $1.49B |
| Brookfield Real Estate Finance Fund Vii-Er Scsp | Brookfield Asset Management Pic US, LLC | $1.49B |
| Vrs Pim Holding Co LLC | PGIM, Inc. | $1.48B |
| Msd Real Estate Credit Opportunity Fund II, L.P. | Msd Partners, L.P. | $1.47B |
| Related Real Estate Fund IV L.P. | Related Fund Management, LLC | $1.46B |
| US Industrial REIT II | Affinius Capital Advisors LLC | $1.46B |
| Benefit Street Partners Sma Ncred-A L.P. | Benefit Street Partners L.L.C. | $1.46B |
| Guadalupe Partners, LP | Affinius Capital Advisors LLC | $1.45B |
| Prospect Ridge U.S. Real Estate Partners IV L.P. | Prospect Ridge Advisors, LLC | $1.45B |
| Walton Street Real Estate Debt Fund II, L.P. | Walton Street Capital, L.L.C. | $1.43B |
| Jif Japan Partners LP | Ares Management LLC | $1.43B |
| U.S. Core+ Real Estate Debt Fund LP | Nuveen Alternatives Advisors LLC | $1.4B |
| Bridge Multifamily Fund V International-A LP | Bridge Multifamily Fund Manager LLC | $1.4B |
| Sunstone Real Estate, LP | Stepstone Group Real Estate LP | $1.39B |
| Rockbridge Hospitality Fund VIII L.P. | Rockbridge Capital, LLC | $1.38B |
| North Haven Real Estate Fund XI Global F LP | Msref Real Estate Advisor, Inc. | $1.37B |
| Artemis Real Estate Partners Healthcare Fund III, LP | Artemis Real Estate Partners, LLC | $1.36B |
| 3650 Cal Bridge Lending LLC | 3650 REIT Investment Management LLC | $1.36B |
| Waterton Residential Property Venture XV, L.P. | Waterton Investment Adviser, L.L.C. | $1.36B |
| Greystar Equity Partners XI, LP | Greystar Investment Group, LLC | $1.35B |
| Rockpoint Real Estate Parallel Fund VI, L.P. | Rockpoint Group, L.L.C. | $1.35B |
| Gem Realty Fund VI, L.P. | Gem Capital, L.P. | $1.35B |