| Europe Logistics Development Partners I Scsp | Ares Management LLC | $2.27B |
| Bridge Multifamily Fund IV LP | Bridge Multifamily Fund Manager LLC | $2.26B |
| BlackRock Asia Property Fund V (2) Scsp | BlackRock Asset Management North Asia Limited | $2.2B |
| Cabot Industrial Value Fund VI, L.P. | Cabot Properties L.P. | $2.19B |
| Blackstone Real Estate Partners Europe IV L.P. | Blackstone Real Estate Advisors Europe L.P. | $2.17B |
| Bds V Green Bridge LP | Bridge Multifamily Fund Manager LLC | $2.15B |
| Related Real Estate Fund III, L.P. | Related Fund Management, LLC | $2.15B |
| Exeter Europe Industrial Core Fund S.c.sp. | Eqt Real Estate, LLC | $2.15B |
| Sentinel Real Estate Fund LP | Sentinel Fund Advisors, Inc. | $2.13B |
| Gi Partners Ets Fund LP | Gi Manager L.P. | $2.13B |
| Pccp Credit X (pf), LP | Pccp, LLC | $2.12B |
| Acres Mortgage Fund, Ltd. | Acres Capital, LLC | $2.1B |
| Tpg Real Estate Partners IV (b), L.P. | Tpg Real Estate Advisors, LLC | $2.1B |
| Blue Owl Digital Infrastructure Fund Iii-C LP | Blue Owl Real Estate Capital LLC | $2.09B |
| Carmel Partners Investment Fund VIII, L.P. | Carmel Management III, LLC | $2.09B |
| Tpg Real Estate Partners IV, L.P. | Tpg Real Estate Advisors, LLC | $2.09B |
| Insolve Global Credit Fund V, LP | Balbec Capital Management LP | $2.08B |
| Bridge Multifamily Fund V International Master LP | Bridge Multifamily Fund Manager LLC | $2.07B |
| Seniors Housing Fund I LP | Seniors Housing Fund Manager LLC | $2.07B |
| Blackstone Real Estate Partners X.te.3 L.P. | Blackstone Real Estate Advisors L.P. | $2.06B |
| Beacon Capital Strategic Partners 8, L.P. | Beacon Capital Partners, LLC | $2.05B |
| Strategic Partners Real Estate VIII L.P. | Strategic Partners Fund Solutions Advisors L.P. | $2.03B |
| Tpg Real Estate Credit Opportunities, L.P. | Tpg Real Estate Advisors, LLC | $2.02B |
| Blackstone City Property Co-Investment Partners L.P. | Blackstone Property Advisors L.P. | $2.01B |
| Walton Street Real Estate Debt Core Fund, L.P. | Walton Street Capital, L.L.C. | $2.01B |
| Bain Capital Real Estate Fund Iii-A, LP | Bain Capital Real Estate, LP | $1.99B |
| Asana Partners Select Fund, LP | Asana Partners, LP | $1.98B |
| Blue Owl Digital Infrastructure Fund Ii-A LP | Blue Owl Real Estate Capital LLC | $1.98B |
| Bridge Multifamily Fund IV International Master LP | Bridge Multifamily Fund Manager LLC | $1.96B |
| Blackstone Property Partners Volt Co-Investment L.P. | Blackstone Property Advisors L.P. | $1.96B |
| Longpoint Fund III, LP | Longpoint Partners LP | $1.96B |
| Berkshire Multifamily Credit Fund IV Investor, L.P. | Berkshire Property Advisors, LLC | $1.95B |
| Realterm Airport Logistics Properties, LP | Realterm Transportation LLC | $1.94B |
| Greystar Student Housing Growth and Income Fund, LP | Greystar Investment Group, LLC | $1.93B |
| Blackstone Real Estate Partners IX (lux) Scsp | Blackstone Real Estate Advisors L.P. | $1.93B |
| Kkr Real Estate Partners Americas IV Scsp | Kohlberg Kravis Roberts & Co. L.P. | $1.93B |
| Rfm Cactus Apartments, LLC | Related Fund Management, LLC | $1.92B |
| Strategic Partners Real Estate VII L.P. | Strategic Partners Fund Solutions Advisors L.P. | $1.9B |
| Bridge Multifamily Fund V LP | Bridge Multifamily Fund Manager LLC | $1.9B |
| Trg Ents LP | Trg Management LP | $1.88B |
| Stepstone Real Estate Partners V Qfp, LP | Stepstone Group Real Estate LP | $1.86B |
| Rockpoint Real Estate Parallel Fund VII, L.P. | Rockpoint Group, L.L.C. | $1.84B |
| Glp Japan Income Fund LP | Ares Management LLC | $1.84B |
| PGIM Real Estate Capital VII Scsp | PGIM Luxembourg S.A. | $1.84B |
| Northwood Real Estate Partners LP | Northwood Investors LLC | $1.79B |
| Northwood Real Estate Partners Te LP | Northwood Investors LLC | $1.79B |
| Mesirow Financial Real Estate Value Fund IV, L.P. | Mesirow Financial Investment Management, Inc. | $1.78B |
| Prime Property Fund Europe S.a., Sicav-Raif | Msref Real Estate Advisor, Inc. | $1.76B |
| Alterra Ios Venture III, LP | Alterra Ios Manager, LLC | $1.76B |
| Sof-11 International, Scsp | Starwood Capital Group Management, L.L.C. | $1.73B |