| Madison International Realty Holdings, LLC | 6,107,661 | $100,776,407 | 44.48% |
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| H/2 CREDIT MANAGER LP | 4,697,314 | $77,506 | 21.46% |
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| B&I Capital AG | 366,440 | $6,046,260 | 2.19% |
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| P SCHOENFELD ASSET MANAGEMENT LP | 990,445 | $16,342,343 | 1.32% |
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| LDR Capital Management LLC | 115,976 | $1,913,604 | 1.16% |
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| Ranger Global Real Estate Advisors, LLC | 303,382 | $5,005,803 | 0.76% |
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| Anson Funds Management LP | 200,000 | $3,300,000 | 0.66% |
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| Anson Funds Management LP | 190,711 | $3,146,732 | 0.63% |
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| AEW CAPITAL MANAGEMENT L P | 577,260 | $9,524,790 | 0.40% |
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| Vert Asset Management LLC | 27,498 | $453,717 | 0.23% |
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| OVERSEA-CHINESE BANKING Corp Ltd | 246,516 | $4,067,514 | 0.19% |
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| Nebula Research & Development LLC | 20,496 | $338,184 | 0.18% |
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| Liberty Mutual Group Asset Management Inc. | 36,623 | $604 | 0.17% |
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| Ridgewood Investments LLC | 13,584 | $224,144 | 0.15% |
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| Cipher Capital LP | 12,213 | $201,515 | 0.14% |
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| FIFTH LANE CAPITAL, LP | 23,000 | $369,150 | 0.13% |
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| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | 355,129 | $5,859,629 | 0.12% |
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| PRUDENTIAL FINANCIAL INC | 4,094,102 | $67,552,683 | 0.11% |
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| DARK FOREST CAPITAL MANAGEMENT LP | 79,074 | $1,304,721 | 0.10% |
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| Greenland Capital Management LP | 55,000 | $907,500 | 0.09% |
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