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J.P. Morgan Real Estate Income Trust, Inc. (“JPMREIT”) announced that its registration statement on Form S-11 has been declared effective by the U.S. Securities and Exchange Commission. The initial public offering of common stock consists of up to $4,000,000,000 of Class T, Class S, Class D and Class I shares in the primary offering and up to $1,000,000,000 of shares pursuant to a distribution reinvestment plan. JPMREIT is externally advised and sponsored by J.P. Morgan Investment Management Inc. (“JPMIM” or the “Adviser”).
JPMREIT’s equity real estate investments will include a range of asset types with a focus on stabilized, income-generating properties. To a lesser extent, JPMREIT will also invest in real estate value creation opportunities that incorporate property refurbishment, redevelopment and development, which are expected to be owned long-term for both income generation and potential capital appreciation.
JPMREIT seeks to build a property portfolio comprised of approximately 75% stabilized, income-generating properties and 25% refurbishment, redevelopment and development properties. JPMREIT expects to invest in the property types helped by the manner in which the COVID-19 pandemic has accelerated fundamental changes in the way Americans use real estate to consume, work and live and expects to qualify as a real estate investment trust for federal income tax purposes.
Shares in JPMREIT will be offered on a continuous basis at a price generally equal to the net asset value per share of each class of common stock, updated monthly. The initial per share purchase price was $10.00 per share, plus applicable upfront selling commissions and manager fees.
J.P. Morgan Institutional Investments Inc. will act as the dealer manager for the offering on a best efforts basis and will engage selected broker-dealers to participate in the distribution of the shares to individual investors.
Written copies of the prospectus may be obtained from J.P. Morgan Investment Management Inc., Attn: Sam Wallman.
