X0202 SCHEDULE 13G 0001512024 XXXXXXXX LIVE Common Shares, no par value 12/31/2025 0001551047 Bluerock Private Real Estate Fund 09631P102 919 Third Avenue 40th Floor New York NY 10022 Rule 13d-1(d) CAPTRUST Financial Advisors X1 4407780 0 7449559 0 7657142 N 5.4 IA Bluerock Private Real Estate Fund 919 Third Avenue, 40th Floor, New York, NEW YORK 10022 CAPTRUST Financial Advisors 4208 Six Forks Road, Suite 1700 Raleigh, NC 27609 United States N IA 7,657,142.39 5.40 4,407,779.86 0 7,449,559.41 0 Y Y Y Y Y Y CAPTRUST Financial Advisors Ann Leddy 08/25/2026