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        <entityName>VMC CRE Master Lending Upper REIT LLC</entityName>
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            <city>MINNEAPOLIS</city>
            <stateOrCountry>MN</stateOrCountry>
            <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
            <zipCode>55401</zipCode>
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            <value>2023</value>
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                <lastName>Naglieri</lastName>
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                <firstName>Shannon</firstName>
                <lastName>Gallagher</lastName>
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        <relatedPersonInfo>
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    <offeringData>
        <industryGroup>
            <industryGroupType>REITS and Finance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.5</item>
            <item>3C.7</item>
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        <typeOfFiling>
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            <dateOfFirstSale>
                <value>2024-12-19</value>
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        <typesOfSecuritiesOffered>
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            <isOtherType>true</isOtherType>
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        <businessCombinationTransaction>
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            <clarificationOfResponse></clarificationOfResponse>
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        <minimumInvestmentAccepted>1000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>ICA, LLC</recipientName>
                <recipientCRDNumber>145235</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>102 Woodmont Blvd., Suite 130</street1>
                    <city>Nashville</city>
                    <stateOrCountry>TN</stateOrCountry>
                    <stateOrCountryDescription>TENNESSEE</stateOrCountryDescription>
                    <zipCode>37205</zipCode>
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                    <description>FLORIDA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
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        <investors>
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            <totalNumberAlreadyInvested>125</totalNumberAlreadyInvested>
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        <signatureBlock>
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            <signature>
                <issuerName>VMC CRE Master Lending Upper REIT LLC</issuerName>
                <signatureName>James E. Dunbar</signatureName>
                <nameOfSigner>James E. Dunbar</nameOfSigner>
                <signatureTitle>Authorized Signatory</signatureTitle>
                <signatureDate>2024-12-19</signatureDate>
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