Who owns CRE loans?

Could you please elaborate on the ownership structure of CRE loans? Are they typically held by individual investors, institutional investors, or a mix of both? Are there any specific entities or classes of investors that are more prevalent in the ownership of CRE loans? Additionally, are there any regulatory considerations or constraints that impact who can own CRE loans? It would be great to gain a deeper understanding of the ownership landscape for CRE loans in the current market.