-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Na8S3XbNgTcFzFgnMU1bofS+b+aKu/4KIFIZ3I7wVkb5M0hj7dl+sMPh68tBxGV4
 FPfINFX1nlKAi/1Ok1QTkw==

<SEC-DOCUMENT>0001448934-09-000002.txt : 20090608
<SEC-HEADER>0001448934-09-000002.hdr.sgml : 20090608
<ACCEPTANCE-DATETIME>20090608105839
ACCESSION NUMBER:		0001448934-09-000002
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090608
DATE AS OF CHANGE:		20090608
EFFECTIVENESS DATE:		20090608

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REAL ESTATE CAPITAL FUND 2008 LLC
		CENTRAL INDEX KEY:			0001448934
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			OH

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-123896
		FILM NUMBER:		09878760

	BUSINESS ADDRESS:	
		STREET 1:		20820 CHAGRIN BLVD
		STREET 2:		SUITE 300
		CITY:			SHAKER HEIGHTS
		STATE:			OH
		ZIP:			44122
		BUSINESS PHONE:		216-491-3990

	MAIL ADDRESS:	
		STREET 1:		20820 CHAGRIN BLVD
		STREET 2:		SUITE 300
		CITY:			SHAKER HEIGHTS
		STATE:			OH
		ZIP:			44122
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0401</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001448934</cik>
        <entityName>REAL ESTATE CAPITAL FUND 2008 LLC</entityName>
        <issuerAddress>
            <street1>20820 CHAGRIN BLVD</street1>
            <street2>SUITE 300</street2>
            <city>SHAKER HEIGHTS</city>
            <stateOrCountry>OH</stateOrCountry>
            <zipCode>44122</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>216-491-3990</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>OHIO</jurisdictionOfInc>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Terence</firstName>
                <middleName>C.</middleName>
                <lastName>Sullivan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20820 Chagrin Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Shaker Heights</city>
                <stateOrCountry>OH</stateOrCountry>
                <zipCode>44122</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName>J</middleName>
                <lastName>Swain</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20820 Chagrin Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Shaker Heights</city>
                <stateOrCountry>OH</stateOrCountry>
                <zipCode>44122</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Susanne</firstName>
                <middleName>M.</middleName>
                <lastName>Powers</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20820 Chagrin Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Shaker Heights</city>
                <stateOrCountry>OH</stateOrCountry>
                <zipCode>44122</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christine</firstName>
                <middleName>L.</middleName>
                <lastName>Jemison</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20820 Chagrin Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Shaker Heights</city>
                <stateOrCountry>OH</stateOrCountry>
                <zipCode>44122</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-044073</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-09-16</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>3000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>10952000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>36</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>8761</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>REAL ESTATE CAPITAL FUND 2008 LLC</issuerName>
                <signatureName>Terence C. Sullivan</signatureName>
                <nameOfSigner>Terence C. Sullivan</nameOfSigner>
                <signatureTitle>President of Falmouth Investment Company, Mgr Member</signatureTitle>
                <signatureDate>2009-05-28</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----