Compile this code for Win64 with "dmd -m32mscoff test.d":

module test;

private __gshared int transform;

shared static this()
{
    transform = 3;
}

and check the object file output with "dumpbin /disasm /all test.obj":

_D4test18_sharedStaticCtor1FZv:
  00000000: C7 05 00 00 00 00  mov         dword ptr [__TMP0],3
            03 00 00 00
  0000000A: C3                 ret

i.e. there is a temporary symbol created for the variable access instead of the actual symbol itself, as the dump for the Win64 build shows:

_D4test18_sharedStaticCtor1FZv:
  0000000000000000: 55                 push        rbp
  0000000000000001: 48 8B EC           mov         rbp,rsp
  0000000000000004: C7 05 00 00 00 00  mov         dword ptr [_D4test9transformi],3
                    03 00 00 00
  000000000000000E: 5D                 pop         rbp
  000000000000000F: C3                 ret

This causes bad relocation entries to be built into the executable and causing failures for the phobos unit tests.