<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/ncen eis_NCEN_Filer.xsd" xmlns="http://www.sec.gov/edgar/ncen" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <schemaVersion>X0505</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001896329</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-2</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2025-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>PIMCO Flexible Real Estate Income Fund</registrantFullName>
      <investmentCompFileNo>811-23779</investmentCompFileNo>
      <registrantCik>0001896329</registrantCik>
      <registrantLei>549300SFL5R6AT4FZ471</registrantLei>
      <registrantstreet1>650 Newport Center Drive</registrantstreet1>
      <registrantcity>Newport Beach</registrantcity>
      <registrantzipCode>92660</registrantzipCode>
      <registrantstate>US-CA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>844-312-2113</registrantphoneNumber>
      <websites>
        <website webpage="www.pimco.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Pacific Investment Management Company LLC</officeName>
          <officeAddress1>1633 Broadway</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>10019</officeRecordsZipCode>
          <officePhone>(212) 776-1500</officePhone>
          <booksRecordsDesc>The account books and other documents required to be maintained by Registrant pursuant to Section 31(a) of the Investment Company Act of 1940 and the Rules thereunder</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>SS&amp;C Global Investor &amp; Distribution Solutions, Inc.</officeName>
          <officeAddress1>430 W. 7th Street</officeAddress1>
          <officeAddress2>Suite 219993</officeAddress2>
          <officeCity>Kansas City</officeCity>
          <officeStateCountry officeState="US-MO" officeCountry="US"/>
          <officeRecordsZipCode>64105</officeRecordsZipCode>
          <officePhone>(816) 435-1000</officePhone>
          <booksRecordsDesc>The account books and other documents required to be maintained by Registrant pursuant to Section 31(a) of the Investment Company Act of 1940 and the Rules thereunder</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>State Street Bank &amp; Trust Company</officeName>
          <officeAddress1>2323 Grand Boulevard</officeAddress1>
          <officeAddress2>5th Floor</officeAddress2>
          <officeCity>Kansas City</officeCity>
          <officeStateCountry officeState="US-MO" officeCountry="US"/>
          <officeRecordsZipCode>64108</officeRecordsZipCode>
          <officePhone>(617) 786-3000</officePhone>
          <booksRecordsDesc>The account books and other documents required to be maintained by Registrant pursuant to Section 31(a) of the Investment Company Act of 1940 and the Rules thereunder</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="PIMCOFUNDS"/>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Alan Alperin</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Anne K. Kratky</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05028"/>
            <fileNumberInfo fileNumber="811-08399"/>
            <fileNumberInfo fileNumber="811-22250"/>
            <fileNumberInfo fileNumber="811-22375"/>
            <fileNumberInfo fileNumber="811-22376"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Rick LeBrun</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Debra W. Huddleston</directorName>
          <crdNumber>001963070</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Kym M. Hubbard</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05028"/>
            <fileNumberInfo fileNumber="811-08399"/>
            <fileNumberInfo fileNumber="811-22250"/>
            <fileNumberInfo fileNumber="811-22375"/>
            <fileNumberInfo fileNumber="811-22376"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Keisha Audain-Pressley</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>1633 Broadway</ccoStreet1>
          <ccoCity>New York</ccoCity>
          <ccoStateCountry ccoState="US-NY" ccoCountry="US"/>
          <ccoZipCode>10019</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <securityMatterSeriesInfo isRegistrantSubmittedMatter="Y">
			</securityMatterSeriesInfo>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-33262"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>PIMCO Investments LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-68686</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000154957</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>254900JVDUMBKRHKBI75</principalUnderwriterLei>
          <principalUnderwriterRssdId>N/A</principalUnderwriterRssdId>
          <principalUnderWriterStateCountry principalUnderWriterState="US-NY" principalUnderWriterCountry="US"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>PricewaterhouseCoopers LLP</publicAccountantName>
          <pcaobNumber>238</pcaobNumber>
          <publicAccountantLei>5493002GVO7EO8RNNS37</publicAccountantLei>
          <publicAccountantRssdId>N/A</publicAccountantRssdId>
          <publicAccountantStateCountry publicAccountantState="US-MO" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>PIMCO Flexible Real Estate Income Fund</mgmtInvFundName>
        <mgmtInvLei>549300SFL5R6AT4FZ471</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <fundTypes>
          <fundType>Interval Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 23c-1 (17 CFR 270.23c-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(f)(17 CFR 270.18f-4(f))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>Y</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Pacific Investment Management Company LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-48187</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000104559</investmentAdviserCrdNo>
            <investmentAdviserLei>549300KGPYQZXGMYYN38</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CA" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>SS&amp;C Global Investor &amp; Distribution Solutions, Inc.</transferAgentName>
            <transferAgentFileNo>084-00448</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-CT" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Valuation Service</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit</pricingServiceName>
            <pricingServiceLei>213800BVVQOBUSJXSB53</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>JPMorgan Chase PricingDirect Inc.</pricingServiceName>
            <pricingServiceLei>549300WIC0TOJ7N7GD54</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv US Holdings</pricingServiceName>
            <pricingServiceLei>549300NF240HXJO7N016</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>BNP Paribas Securities Services, GR</custodianName>
            <custodianLei>529900WAQB9LM0W2OX74</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>GR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Handlowy W Warszawie S.A.</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Bank Hapoalim B.M.</custodianName>
            <custodianLei>B6ARUI4946ST4S7WOU88</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>IL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>CLEARSTREAM EUROPE AG</custodianName>
            <custodianLei>549300298FD7AS4PPU70</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe PLC Hungarian Branc</custodianName>
            <custodianLei>529900OFKSTYPK5K3528</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe PLC Portugal Branch</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>PT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe PLC Spain Branch</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>ES</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe plc, Dublin - Romania Branch</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>RO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank N.A. Mexico</custodianName>
            <custodianLei>549300WEPPXE5O03XR55</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, N.A.</custodianName>
            <custodianLei>549300KOX37PA65ZMO70</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>549300772D1G8JPIUR96</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>NL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Deutsche Bank AG</custodianName>
            <custodianLei>9695006XH09FLF5VEU40</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear</custodianName>
            <custodianLei>21380014SJC1QPK8O356</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>HSBC Bank Australia Limited</custodianName>
            <custodianLei>DY9DBNI4W8J63Z298033</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Intesa Sanpaola SPA</custodianName>
            <custodianLei>2W8N8UU78PMDQKZENC08</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Mizuho Bank, Ltd.(Custody)</custodianName>
            <custodianLei>549300I6K0JHSVK8I066</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>STATE STREET BANK AND TRUST COMPANY</custodianName>
            <custodianLei>54930040JC7I4R2I8K66</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken</custodianName>
            <custodianLei>549300WBW9JJSZHIED38</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken</custodianName>
            <custodianLei>549300YVVBZSHIN6VV11</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>JJF4RP35YKMAPSXPQX93</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianStateCountry custodianState="US-MO" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Trust Company Canada</custodianName>
            <custodianLei>549300L71XG2CTQ2V827</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UBS Switzerland AG</custodianName>
            <custodianLei>549300WOIFUSNYH0FL22</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianRssdId>N/A</custodianRssdId>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>Y</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>SS&amp;C Global Investor &amp; Distribution Solutions, Inc.</shareholderServiceAgentName>
            <shareholderServiceAgentRssdId>N/A</shareholderServiceAgentRssdId>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-CT" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Pacific Investment Management Company LLC</adminName>
            <adminLei>549300KGPYQZXGMYYN38</adminLei>
            <adminStateCountry adminState="US-CA" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MO" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Allianz Global Investors (Schweiz) AG</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>549300HHHNE56IHKY326</brokerDealerLei>
            <brokerDealerCountry>CH</brokerDealerCountry>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Allianz Global Investors Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Allianz Life Financial Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-13630</brokerDealerFileNo>
            <brokerDealerCrdNo>000000612</brokerDealerCrdNo>
            <brokerDealerLei>5493008TSI0TRWDDGW79</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MN" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PIMCO Canada Corp.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>549300PNZNS0LQSMZ318</brokerDealerLei>
            <brokerDealerCountry>CA</brokerDealerCountry>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PIMCO Europe GmbH</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>549300KW6332H0XL8X85</brokerDealerLei>
            <brokerDealerCountry>DE</brokerDealerCountry>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>PIMCO Investments LLC</brokerDealerName>
            <brokerDealerFileNo>8-68686</brokerDealerFileNo>
            <brokerDealerCrdNo>000154957</brokerDealerCrdNo>
            <brokerDealerLei>254900JVDUMBKRHKBI75</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>ATLAS SP PARTNERS, L.P.</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>254900LNRIEYQXJU4020</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7990.00</grossCommission>
          </broker>
          <broker>
            <brokerName>BMO Capital Markets Corp.</brokerName>
            <brokerFileNo>8-34344</brokerFileNo>
            <brokerCrdNo>000016686</brokerCrdNo>
            <brokerLei>RUC0QBLBRPRCU4W1NE59</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-DE" brokerCountry="US"/>
            <grossCommission>80.00</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co.</brokerName>
            <brokerFileNo>8-00129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2992.47</grossCommission>
          </broker>
          <broker>
            <brokerName>Nomura Securities International Inc.</brokerName>
            <brokerFileNo>8-15255</brokerFileNo>
            <brokerCrdNo>000004297</brokerCrdNo>
            <brokerLei>OXTKY6Q8X53C9ILVV871</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5875.00</grossCommission>
          </broker>
          <broker>
            <brokerName>RBC Capital Markets Corp.</brokerName>
            <brokerFileNo>8-45411</brokerFileNo>
            <brokerCrdNo>000031194</brokerCrdNo>
            <brokerLei>549300LCO2FLSSVFFR64</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>486.78</grossCommission>
          </broker>
          <broker>
            <brokerName>State Street Global Markets, LLC</brokerName>
            <brokerFileNo>8-69862</brokerFileNo>
            <brokerCrdNo>000285852</brokerCrdNo>
            <brokerLei>549300FDEDF5ORXCMQ56</brokerLei>
            <brokerRssdId>N/A</brokerRssdId>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>31960.00</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>49384.25</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp.</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>131690016.62</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital, Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>259275660.03</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets, Inc.</principalName>
            <principalFileNo>8-08177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>176862569.31</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Federal Reserve Bank of Boston</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>273786280.74</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. Morgan Securities LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>282958341.58</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Jefferies Co., Inc.</principalName>
            <principalFileNo>8-15074</principalFileNo>
            <principalCrdNo>000002347</principalCrdNo>
            <principalLei>58PU97L1C0WSRCWADL48</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>82224521.26</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Merrill Lynch, Pierce, Fenner, &amp; Smith</principalName>
            <principalFileNo>8-07221</principalFileNo>
            <principalCrdNo>000007691</principalCrdNo>
            <principalLei>8NAV47T0Y26Q87Y0QP81</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>57846042.69</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co., Inc.</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>240816096.00</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>State Street Global Markets, LLC</principalName>
            <principalFileNo>8-69862</principalFileNo>
            <principalCrdNo>000285852</principalCrdNo>
            <principalLei>549300FDEDF5ORXCMQ56</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>105230411.16</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Wells Fargo Securities, LLC</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>87610622.76</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1981300426.90</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>401472666.18</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>PIMCO Flexible Real Estate Income Fund Class A-4</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNAS" commonStockTickerSymbol="REFVX"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>PIMCO Flexible Real Estate Income Fund Preferred A</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="N/A"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>PIMCO Flexible Real Estate Income Fund Class F</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNAS" commonStockTickerSymbol="REFFX"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>PIMCO Flexible Real Estate Income Fund Class A-3</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNAS" commonStockTickerSymbol="REFRX"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>PIMCO Flexible Real Estate Income Fund Institutional</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNAS" commonStockTickerSymbol="REFLX"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.974</managementFee>
      <netOperatingExpenses>1.5489999999999999</netOperatingExpenses>
      <marketPricePerShare>N/A</marketPricePerShare>
      <netAssetValuePerShare>10.50</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="PIMCO Flexible Real Estate Income Fund" signedDate="2026-03-13" signature="Bijal Parikh" title="Treasurer"/>
  </formData>
</edgarSubmission>