Short answer. Yes, to the extent of that property's value. Article 2248 of the Civil Code gives a credit preferred over specific real property or a real right the same protection Article 2246 gives movables: it excludes all other creditors from that immovable's value, though the preference does not reach the debtor's other property.
What the law says
Those credits which enjoy preference in relation to specific real property or real rights, exclude all others to the extent of the value of the immovable or real right to which the preference refers.
Civil Code, Article 2248 — Satisfying Preferred Credits on Specific Immovables. Read the full provision →
What this preference attaches to
Certain credits, such as those secured by a real right over a particular parcel of land or building, are preferred not over the debtor's whole estate but specifically over that immovable. Article 2248 says such a credit excludes all others as to the value of that specific real property or real right. This is preference tied to the property itself, distinct from a general priority ranking against all of a debtor's creditors and assets generally.
The boundary: only the value of that immovable
The exclusion runs only up to what the specific real property is actually worth. If proceeds from that property fall short of your credit, the deficiency is not automatically preferred against the debtor's other assets, and you compete as an ordinary creditor for the remainder. Conversely, once your preferred credit is satisfied out of that property's value, whatever value remains goes toward other claims according to their own priority.
When more than one preferred claim covers the same property
It is common for several credits to be preferred over the same piece of real property at once, for instance more than one lien or encumbrance recorded against the same land. Article 2248 establishes that preferred credits on that property come before ordinary, unsecured creditors; it does not by itself decide the order between competing preferred credits on that same immovable. Sorting that out requires looking at the specific nature and timing of each preference asserted against the property.
Why the source of your preference still matters
Article 2248 tells you what a preference on specific real property does once it exists; it does not by itself tell you whether your particular claim actually qualifies as one. The Civil Code's broader rules on concurrence and preference of credits set out which kinds of claims attach to specific immovable property in this way, so the practical starting point is confirming your claim genuinely falls within that category before assuming it beats other creditors on that land at all. A claim that is merely unsecured, however closely tied to the property in a factual sense, does not automatically gain this preference just because you feel entitled to it.