XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Organization and Business Purpose
6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Business Purpose

1. Organization and Business Purpose

J.P. Morgan Real Estate Income Trust, Inc. (the “Company” or “JPMREIT”) was formed on November 5, 2021 as a Maryland corporation and intends to qualify as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. The Company invests primarily in stabilized, income-generating real estate properties, and to a lesser extent, real estate debt, real estate-related securities and other securities. The Company is the sole general partner of J.P. Morgan REIT Operating Partnership, L.P., a Delaware limited partnership (“Operating Partnership”). J.P. Morgan REIT OP Special Limited Partner, L.P. (the “Special Limited Partner”), an affiliate of J.P. Morgan Investment Management Inc. (the “Adviser” or “JPMIM” and together with its affiliates “J.P. Morgan”), owns a special limited partner interest in the Operating Partnership. Substantially all of the Company’s business is conducted through the Operating Partnership. The Company and the Operating Partnership are externally managed by JPMIM.

As of June 30, 2024, the Company owned seven real estate properties consisting of three multifamily properties, two industrial properties, one single-family rental property and one retail property. The Company also owned one position in a real estate debt investment and an investment in U.S. Treasury bills. The Company currently operates in five reportable segments: multifamily, industrial, single-family rental, retail and investments in real estate debt, real estate-related and other securities. See Note 15 for a description of the Company's segment reporting.