<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 21-February-2025 [03:11:29] {AM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_AdditionalRisksRelatingToTheFundsPreferredSharesMember" xlink:label="loc_cik0001896329_AdditionalRisksRelatingToTheFundsPreferredSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_AdditionalRisksRelatingToTheFundsPreferredSharesMember" xml:lang="en-US">Additional Risks Relating to the Funds Preferred Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_AdditionalRisksRelatingToTheFundsPreferredSharesMember" xlink:to="lab_cik0001896329_AdditionalRisksRelatingToTheFundsPreferredSharesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_BestEffortsOfferingMember" xlink:label="loc_cik0001896329_BestEffortsOfferingMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_BestEffortsOfferingMember" xml:lang="en-US">Best Efforts Offering [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_BestEffortsOfferingMember" xlink:to="lab_cik0001896329_BestEffortsOfferingMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CapitalMarketsRiskMember" xlink:label="loc_cik0001896329_CapitalMarketsRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CapitalMarketsRiskMember" xml:lang="en-US">Capital Markets Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CapitalMarketsRiskMember" xlink:to="lab_cik0001896329_CapitalMarketsRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CertainAffiliationsMember" xlink:label="loc_cik0001896329_CertainAffiliationsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CertainAffiliationsMember" xml:lang="en-US">Certain Affiliations [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CertainAffiliationsMember" xlink:to="lab_cik0001896329_CertainAffiliationsMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CommercialRealEstateIndustryRiskMember" xlink:label="loc_cik0001896329_CommercialRealEstateIndustryRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CommercialRealEstateIndustryRiskMember" xml:lang="en-US">Commercial Real Estate Industry Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CommercialRealEstateIndustryRiskMember" xlink:to="lab_cik0001896329_CommercialRealEstateIndustryRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CompetitionRiskMember" xlink:label="loc_cik0001896329_CompetitionRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CompetitionRiskMember" xml:lang="en-US">Competition Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CompetitionRiskMember" xlink:to="lab_cik0001896329_CompetitionRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CyberSecurityRiskMember" xlink:label="loc_cik0001896329_CyberSecurityRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CyberSecurityRiskMember" xml:lang="en-US">Cyber Security Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CyberSecurityRiskMember" xlink:to="lab_cik0001896329_CyberSecurityRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_DelayInUseOfProceedsRiskMember" xlink:label="loc_cik0001896329_DelayInUseOfProceedsRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_DelayInUseOfProceedsRiskMember" xml:lang="en-US">Delay in Use of Proceeds Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_DelayInUseOfProceedsRiskMember" xlink:to="lab_cik0001896329_DelayInUseOfProceedsRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_DerivativesRiskMember" xlink:label="loc_cik0001896329_DerivativesRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_DerivativesRiskMember" xml:lang="en-US">Derivatives Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_DerivativesRiskMember" xlink:to="lab_cik0001896329_DerivativesRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_DistributionRateRiskMember" xlink:label="loc_cik0001896329_DistributionRateRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_DistributionRateRiskMember" xml:lang="en-US">Distribution Rate Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_DistributionRateRiskMember" xlink:to="lab_cik0001896329_DistributionRateRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_EnvironmentalRiskMember" xlink:label="loc_cik0001896329_EnvironmentalRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_EnvironmentalRiskMember" xml:lang="en-US">Environmental Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_EnvironmentalRiskMember" xlink:to="lab_cik0001896329_EnvironmentalRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_GeopoliticalConflictsMember" xlink:label="loc_cik0001896329_GeopoliticalConflictsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_GeopoliticalConflictsMember" xml:lang="en-US">Geopolitical Conflicts [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_GeopoliticalConflictsMember" xlink:to="lab_cik0001896329_GeopoliticalConflictsMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_HighYieldSecuritiesRiskMember" xlink:label="loc_cik0001896329_HighYieldSecuritiesRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_HighYieldSecuritiesRiskMember" xml:lang="en-US">High Yield Securities Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_HighYieldSecuritiesRiskMember" xlink:to="lab_cik0001896329_HighYieldSecuritiesRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IlliquidInvestmentRiskMember" xlink:label="loc_cik0001896329_IlliquidInvestmentRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IlliquidInvestmentRiskMember" xml:lang="en-US">Illiquid Investment Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IlliquidInvestmentRiskMember" xlink:to="lab_cik0001896329_IlliquidInvestmentRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_InsuranceRiskMember" xlink:label="loc_cik0001896329_InsuranceRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_InsuranceRiskMember" xml:lang="en-US">Insurance Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_InsuranceRiskMember" xlink:to="lab_cik0001896329_InsuranceRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_InvestmentAndMarketRiskMember" xlink:label="loc_cik0001896329_InvestmentAndMarketRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_InvestmentAndMarketRiskMember" xml:lang="en-US">Investment and Market Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_InvestmentAndMarketRiskMember" xlink:to="lab_cik0001896329_InvestmentAndMarketRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_JointVentureRiskMember" xlink:label="loc_cik0001896329_JointVentureRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_JointVentureRiskMember" xml:lang="en-US">Joint Venture Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_JointVentureRiskMember" xlink:to="lab_cik0001896329_JointVentureRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_LeverageRiskMember" xlink:label="loc_cik0001896329_LeverageRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_LeverageRiskMember" xml:lang="en-US">Leverage Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_LeverageRiskMember" xlink:to="lab_cik0001896329_LeverageRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_LiquidityRiskMember" xlink:label="loc_cik0001896329_LiquidityRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_LiquidityRiskMember" xml:lang="en-US">Liquidity Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_LiquidityRiskMember" xlink:to="lab_cik0001896329_LiquidityRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_LitigationRiskMember" xlink:label="loc_cik0001896329_LitigationRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_LitigationRiskMember" xml:lang="en-US">Litigation Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_LitigationRiskMember" xlink:to="lab_cik0001896329_LitigationRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ManagementRiskMember" xlink:label="loc_cik0001896329_ManagementRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ManagementRiskMember" xml:lang="en-US">Management Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ManagementRiskMember" xlink:to="lab_cik0001896329_ManagementRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_MarketDisruptionsRiskMember" xlink:label="loc_cik0001896329_MarketDisruptionsRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_MarketDisruptionsRiskMember" xml:lang="en-US">Market Disruptions Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_MarketDisruptionsRiskMember" xlink:to="lab_cik0001896329_MarketDisruptionsRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_MezzanineLoanRiskMember" xlink:label="loc_cik0001896329_MezzanineLoanRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_MezzanineLoanRiskMember" xml:lang="en-US">Mezzanine Loan Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_MezzanineLoanRiskMember" xlink:to="lab_cik0001896329_MezzanineLoanRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_MortgageLoanRiskMember" xlink:label="loc_cik0001896329_MortgageLoanRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_MortgageLoanRiskMember" xml:lang="en-US">Mortgage Loan Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_MortgageLoanRiskMember" xlink:to="lab_cik0001896329_MortgageLoanRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xlink:label="loc_cik0001896329_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xml:lang="en-US">Mortgage Related and Other Asset Backed Instruments Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xlink:to="lab_cik0001896329_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_NonDiversificationRiskMember" xlink:label="loc_cik0001896329_NonDiversificationRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_NonDiversificationRiskMember" xml:lang="en-US">Non Diversification Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_NonDiversificationRiskMember" xlink:to="lab_cik0001896329_NonDiversificationRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_NonUsInvestmentRiskMember" xlink:label="loc_cik0001896329_NonUsInvestmentRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_NonUsInvestmentRiskMember" xml:lang="en-US">Non US Investment Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_NonUsInvestmentRiskMember" xlink:to="lab_cik0001896329_NonUsInvestmentRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xlink:label="loc_cik0001896329_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xml:lang="en-US">Potential Conflicts of Interest Risk Allocation Of Investment Opportunities [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xlink:to="lab_cik0001896329_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_PrivacyAndDataSecurityRiskMember" xlink:label="loc_cik0001896329_PrivacyAndDataSecurityRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_PrivacyAndDataSecurityRiskMember" xml:lang="en-US">Privacy and Data Security Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_PrivacyAndDataSecurityRiskMember" xlink:to="lab_cik0001896329_PrivacyAndDataSecurityRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_PrivateCommercialRealEstateRiskMember" xlink:label="loc_cik0001896329_PrivateCommercialRealEstateRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_PrivateCommercialRealEstateRiskMember" xml:lang="en-US">Private Commercial Real Estate Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_PrivateCommercialRealEstateRiskMember" xlink:to="lab_cik0001896329_PrivateCommercialRealEstateRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_PropertyManagerRiskMember" xlink:label="loc_cik0001896329_PropertyManagerRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_PropertyManagerRiskMember" xml:lang="en-US">Property Manager Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_PropertyManagerRiskMember" xlink:to="lab_cik0001896329_PropertyManagerRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RealEstateInvestmentRiskMember" xlink:label="loc_cik0001896329_RealEstateInvestmentRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RealEstateInvestmentRiskMember" xml:lang="en-US">Real Estate Investment Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RealEstateInvestmentRiskMember" xlink:to="lab_cik0001896329_RealEstateInvestmentRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RecourseFinancingsRiskMember" xlink:label="loc_cik0001896329_RecourseFinancingsRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RecourseFinancingsRiskMember" xml:lang="en-US">Recourse Financings Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RecourseFinancingsRiskMember" xlink:to="lab_cik0001896329_RecourseFinancingsRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RegulatoryChangesRiskMember" xlink:label="loc_cik0001896329_RegulatoryChangesRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RegulatoryChangesRiskMember" xml:lang="en-US">Regulatory Changes Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RegulatoryChangesRiskMember" xlink:to="lab_cik0001896329_RegulatoryChangesRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RegulatoryRiskLiborRiskMember" xlink:label="loc_cik0001896329_RegulatoryRiskLiborRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RegulatoryRiskLiborRiskMember" xml:lang="en-US">Regulatory Risk LIBOR Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RegulatoryRiskLiborRiskMember" xlink:to="lab_cik0001896329_RegulatoryRiskLiborRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RepurchaseOffersRiskMember" xlink:label="loc_cik0001896329_RepurchaseOffersRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RepurchaseOffersRiskMember" xml:lang="en-US">Repurchase Offers Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RepurchaseOffersRiskMember" xlink:to="lab_cik0001896329_RepurchaseOffersRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RiskRetentionInvestmentRiskMember" xlink:label="loc_cik0001896329_RiskRetentionInvestmentRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RiskRetentionInvestmentRiskMember" xml:lang="en-US">Risk Retention Investment Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RiskRetentionInvestmentRiskMember" xlink:to="lab_cik0001896329_RiskRetentionInvestmentRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RisksOfInvestingInPrivateRealEstateInvestmentFundsMember" xlink:label="loc_cik0001896329_RisksOfInvestingInPrivateRealEstateInvestmentFundsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RisksOfInvestingInPrivateRealEstateInvestmentFundsMember" xml:lang="en-US">Risks of Investing in Private Real Estate Investment Funds [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RisksOfInvestingInPrivateRealEstateInvestmentFundsMember" xlink:to="lab_cik0001896329_RisksOfInvestingInPrivateRealEstateInvestmentFundsMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RisksRelatedToInvestmentsInPubliclyTradedReitsMember" xlink:label="loc_cik0001896329_RisksRelatedToInvestmentsInPubliclyTradedReitsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RisksRelatedToInvestmentsInPubliclyTradedReitsMember" xml:lang="en-US">Risks Related to Investments in Publicly Traded REITs [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RisksRelatedToInvestmentsInPubliclyTradedReitsMember" xlink:to="lab_cik0001896329_RisksRelatedToInvestmentsInPubliclyTradedReitsMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RisksRelatedToSpecificPrivateCommercialRealEstatePropertyTypesMember" xlink:label="loc_cik0001896329_RisksRelatedToSpecificPrivateCommercialRealEstatePropertyTypesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RisksRelatedToSpecificPrivateCommercialRealEstatePropertyTypesMember" xml:lang="en-US">Risks Related to Specific Private Commercial Real Estate Property Types [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RisksRelatedToSpecificPrivateCommercialRealEstatePropertyTypesMember" xlink:to="lab_cik0001896329_RisksRelatedToSpecificPrivateCommercialRealEstatePropertyTypesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_RisksRelatedToTheFundsReitStatusMember" xlink:label="loc_cik0001896329_RisksRelatedToTheFundsReitStatusMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_RisksRelatedToTheFundsReitStatusMember" xml:lang="en-US">Risks Related to the Funds REIT Status [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_RisksRelatedToTheFundsReitStatusMember" xlink:to="lab_cik0001896329_RisksRelatedToTheFundsReitStatusMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_SingleTenantRiskMember" xlink:label="loc_cik0001896329_SingleTenantRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_SingleTenantRiskMember" xml:lang="en-US">Single Tenant Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_SingleTenantRiskMember" xlink:to="lab_cik0001896329_SingleTenantRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_TaxRisksOfInvestingInTheFundMember" xlink:label="loc_cik0001896329_TaxRisksOfInvestingInTheFundMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_TaxRisksOfInvestingInTheFundMember" xml:lang="en-US">Tax Risks of Investing in the Fund [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_TaxRisksOfInvestingInTheFundMember" xlink:to="lab_cik0001896329_TaxRisksOfInvestingInTheFundMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ValuationRiskMember" xlink:label="loc_cik0001896329_ValuationRiskMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ValuationRiskMember" xml:lang="en-US">Valuation Risk [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ValuationRiskMember" xlink:to="lab_cik0001896329_ValuationRiskMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassA3CommonSharesMember" xlink:label="loc_cik0001896329_ClassA3CommonSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassA3CommonSharesMember" xml:lang="en-US">Class A 3 Common Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassA3CommonSharesMember" xlink:to="lab_cik0001896329_ClassA3CommonSharesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassA3Member" xlink:label="loc_cik0001896329_ClassA3Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassA3Member" xml:lang="en-US">Class A-3 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassA3Member" xlink:to="lab_cik0001896329_ClassA3Member" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassA4CommonSharesMember" xlink:label="loc_cik0001896329_ClassA4CommonSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassA4CommonSharesMember" xml:lang="en-US">Class A 4 Common Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassA4CommonSharesMember" xlink:to="lab_cik0001896329_ClassA4CommonSharesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassA4Member" xlink:label="loc_cik0001896329_ClassA4Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassA4Member" xml:lang="en-US">Class A-4 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassA4Member" xlink:to="lab_cik0001896329_ClassA4Member" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassFCommonSharesMember" xlink:label="loc_cik0001896329_ClassFCommonSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassFCommonSharesMember" xml:lang="en-US">Class F Common Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassFCommonSharesMember" xlink:to="lab_cik0001896329_ClassFCommonSharesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_ClassFMember" xlink:label="loc_cik0001896329_ClassFMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_ClassFMember" xml:lang="en-US">Class F [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_ClassFMember" xlink:to="lab_cik0001896329_ClassFMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_CommonSharesMember" xlink:label="loc_cik0001896329_CommonSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_CommonSharesMember" xml:lang="en-US">Common Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_CommonSharesMember" xlink:to="lab_cik0001896329_CommonSharesMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfyoudonotredeemyoursharesClassA4Member" xlink:label="loc_cik0001896329_IfyoudonotredeemyoursharesClassA4Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfyoudonotredeemyoursharesClassA4Member" xml:lang="en-US">If you do not redeem your shares Class A-4 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfyoudonotredeemyoursharesClassA4Member" xlink:to="lab_cik0001896329_IfyoudonotredeemyoursharesClassA4Member" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfYouDoNotRedeemYourSharesClassFMember" xlink:label="loc_cik0001896329_IfYouDoNotRedeemYourSharesClassFMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfYouDoNotRedeemYourSharesClassFMember" xml:lang="en-US">If you do not redeem your shares Class F [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfYouDoNotRedeemYourSharesClassFMember" xlink:to="lab_cik0001896329_IfYouDoNotRedeemYourSharesClassFMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfyouredeemyoursharesClassA3Member" xlink:label="loc_cik0001896329_IfyouredeemyoursharesClassA3Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfyouredeemyoursharesClassA3Member" xml:lang="en-US">If you redeem your shares Class A-3 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfyouredeemyoursharesClassA3Member" xlink:to="lab_cik0001896329_IfyouredeemyoursharesClassA3Member" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfyouredeemyoursharesClassA4Member" xlink:label="loc_cik0001896329_IfyouredeemyoursharesClassA4Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfyouredeemyoursharesClassA4Member" xml:lang="en-US">If you redeem your shares Class A-4 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfyouredeemyoursharesClassA4Member" xlink:to="lab_cik0001896329_IfyouredeemyoursharesClassA4Member" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfYouRedeemYourSharesClassFMember" xlink:label="loc_cik0001896329_IfYouRedeemYourSharesClassFMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfYouRedeemYourSharesClassFMember" xml:lang="en-US">If you redeem your shares Class F [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfYouRedeemYourSharesClassFMember" xlink:to="lab_cik0001896329_IfYouRedeemYourSharesClassFMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_IfYouRedeemYourSharesInstitutionalClassMember" xlink:label="loc_cik0001896329_IfYouRedeemYourSharesInstitutionalClassMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_IfYouRedeemYourSharesInstitutionalClassMember" xml:lang="en-US">If you redeem your shares Institutional Class [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_IfYouRedeemYourSharesInstitutionalClassMember" xlink:to="lab_cik0001896329_IfYouRedeemYourSharesInstitutionalClassMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_InstClassMember" xlink:label="loc_cik0001896329_InstClassMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_InstClassMember" xml:lang="en-US">Inst Class [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_InstClassMember" xlink:to="lab_cik0001896329_InstClassMember" />
<loc xlink:type="locator" xlink:href="cik0001896329-20250220.xsd#cik0001896329_PreferredSharesMember" xlink:label="loc_cik0001896329_PreferredSharesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001896329_PreferredSharesMember" xml:lang="en-US">Preferred Shares [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001896329_PreferredSharesMember" xlink:to="lab_cik0001896329_PreferredSharesMember" />
</labelLink>
</linkbase>
