| Kayne Commercial Real Estate Debt, L.P. | Kayne Anderson Capital Advisors, L.P. | $3.35B |
| US Eagle Real Estate REIT, LLC | Affinius Capital Advisors LLC | $3.3B |
| Bridge Opportunity Zone Fund IV LP | Bridge Multifamily Fund Manager LLC | $3.29B |
| Starwood Distressed Opportunity Fund XIII Global, L.P. | Starwood Capital Group Management, L.L.C. | $3.23B |
| Lone Star Real Estate Fund VII, L.P. | Lone Star Americas Acquisitions, Inc. | $3.2B |
| Carlyle Realty Partners VIII | Carlyle Investment Management L.L.C. | $3.2B |
| Brookfield Strategic Real Estate Partners Iv-C L.P. | Brookfield Asset Management Pic US, LLC | $3.18B |
| Blue Owl Digital Infrastructure Fund Iii-A LP | Blue Owl Real Estate Capital LLC | $3.12B |
| Vistria Housing Fund, LP | The Vistria Group, LP | $3.11B |
| Tpg Real Estate Partners IV (c), L.P. | Tpg Real Estate Advisors, LLC | $3.07B |
| Acre Credit Fund II REIT LLC | Acre Manager, LLC | $3.07B |
| Kayne Anderson Real Estate Partners VII, L.P. | Kayne Anderson Capital Advisors, L.P. | $3.06B |
| Exeter Industrial Core Fund III, L.P. | Eqt Real Estate, LLC | $3.05B |
| Continental Europe Development Partners I Scsp | Ares Management LLC | $3.04B |
| Starwood Distressed Opportunity Fund XIII Nre, L.P. | Starwood Capital Group Management, L.L.C. | $3B |
| Bridge Workforce and Affordable Housing Fund II LP | Bridge Multifamily Fund Manager LLC | $2.88B |
| North Haven Real Estate Fund X Global-F, L.P. | Msref Real Estate Advisor, Inc. | $2.86B |
| Divcowest Fund Vi-A, LP | Divco West Real Estate Services, LLC | $2.86B |
| Bsrep IV Brookfield LP | Brookfield Asset Management Pic US, LLC | $2.84B |
| Abacus Multi-Family Partners VI LP | Abacus Capital Group LLC | $2.83B |
| Kayne Anderson Core Real Estate, L.P. | Kayne Anderson Capital Advisors, L.P. | $2.77B |
| Acore Credit Partners II REIT, Inc | Acore Capital, LP | $2.77B |
| Acore Credit Partners II, LP | Acore Capital, LP | $2.77B |
| Brookfield Strategic Real Estate Partners Iv-A L.P. | Brookfield Asset Management Pic US, LLC | $2.67B |
| Starwood Opportunity Fund XI Global, L.P. | Starwood Capital Group Management, L.L.C. | $2.67B |
| Barings Real Estate Debt Income Fund LP | Barings LLC | $2.66B |
| US Logistics Partners Iv-A LP | Ares Management LLC | $2.66B |
| Mesirow Financial Real Estate Value Fund V, L.P. | Mesirow Re-Ia, Inc. | $2.64B |
| Cabot Industial Value Fund VII, L.P. | Cabot Properties L.P. | $2.62B |
| Blackstone Real Estate Partners Ix.te.1 L.P. | Blackstone Real Estate Advisors L.P. | $2.61B |
| Beacon Capital Strategic Partners 9, L.P. | Beacon Capital Partners, LLC | $2.6B |
| Asana Partners Fund III, LP | Asana Partners, LP | $2.56B |
| Blackstone Real Estate Partners X (lux) Scsp | Blackstone Real Estate Advisors L.P. | $2.56B |
| Stonepeak Copernicus NV Holdings LP | Stonepeak Partners LP | $2.55B |
| US Government Building Open-End REIT, LLC | Affinius Capital Advisors LLC | $2.47B |
| Kayne Anderson Real Estate Debt IV, L.P. | Kayne Anderson Capital Advisors, L.P. | $2.44B |
| Blackstone Real Estate Partners Asia L.P. | Blackstone Real Estate Advisors L.P. | $2.42B |
| Brookfield Real Estate Finance Fund VI, L.P. | Brookfield Asset Management Pic US, LLC | $2.4B |
| Europe Logistics Income Partners I Scsp | Ares Management LLC | $2.4B |
| MC Ares US Re JV LP | Ares Commercial Real Estate Management LLC | $2.39B |
| Europe Logistics Income Partners III Scsp | Ares Management LLC | $2.39B |
| Blackstone Real Estate Debt Strategies IV L.P. | Blackstone Real Estate Special Situations Advisors L.L.C. | $2.38B |
| Divcowest Fund V, LP | Divco West Real Estate Services, LLC | $2.37B |
| Greenoak US III, LP | Bgo US Real Estate LP | $2.36B |
| Sculptor Real Estate Fund IV LP | Sculptor Capital LP | $2.36B |
| Brookfield Dtla Holdings LLC | Brookfield Asset Management Pic US, LLC | $2.35B |
| Bridge Opportunity Zone Fund III LP | Bridge Multifamily Fund Manager LLC | $2.34B |
| Artemis Real Estate Partners Fund IV, L.P. | Artemis Real Estate Partners, LLC | $2.3B |
| Kayne Anderson Real Estate Opportunistic Debt II, L.P. | Kayne Anderson Capital Advisors, L.P. | $2.28B |
| Insolve Global Credit Fund VI, LP | Balbec Capital Management LP | $2.28B |