J.P. Morgan REIT Acquires Industrial Portfolio; Sees Nearly 10% Increase in Total NAV

J.P. Morgan Real Estate Income Trust Inc., or JPMREIT – a non-listed perpetual life real estate investment trust – recently closed on another acquisition this spring, this time expanding its holdings in the industrial sector in the Southeast.

On April 10, 2025, the REIT acquired a 95% interest in a joint venture with private real estate firm B&D Holdings, recapitalizing a seven-property industrial service facility portfolio for a total purchase price of $71.2 million, excluding closing costs. The portfolio, comprising 581,000 square feet, includes six sites in the Norfolk, Va., metropolitan area and one in Rockledge, Fla. The portfolio was 100% leased to 16 tenants at closing.

Prior to that, on March 25, JPMREIT purchased a 133-unit, Class A adaptive reuse multifamily property located in Atlanta’s Little Five Points neighborhood for $34.8 million, excluding closing costs. In connection with this acquisition, the company assumed an existing $15.2 million mortgage loan featuring a 3.95% interest rate with approximately 2.4 years remaining on its term.

The company’s total net asset value as of March 31 was approximately $644.38 million, a significant 9.69% increase from the previous month’s $587.45 million.

The transaction price for each class of common stock for subscriptions accepted as of May 1, 2025 (and repurchases as of April 30) is as follows:

Class D shares had a NAV per share of $10.39, compared to $10.42 the previous month, a decrease of nearly 0.29%.

Class I shares had a NAV per share of $10.43, compared to $10.46 the previous month, a decrease of approximately 0.29%.

Class S shares had a NAV per share of $11.04, compared to $11.07 the previous month, a decrease of approximately 0.27%.

Class T shares had a NAV per share of $11.04, compared to $11.07 the previous month, a decrease of approximately 0.27%.

The REIT had approximately 59.1 million shares outstanding at the end of March.

The company’s public offering was declared effective by the U.S. Securities and Exchange Commission on July 22, 2022. It is currently offering on a continuous basis up to $5 billion in shares of common stock, consisting of up to $4 billion in shares in its primary offering and up to $1 billion in shares pursuant to its distribution reinvestment plan. As of April 16, the REIT had issued and sold shares in the primary offering for total proceeds of approximately $108.6 million, and shares in its DRIP for a total value of approximately $2.3 million. It has not yet sold any Class T shares in this offering.

J.P. Morgan Asset Management, with assets under management of $3.6 trillion as of Dec. 31, 2024, is a global leader in investment management supporting clients such as institutions, retail investors, and high-net-worth individuals in every major market throughout the world.

Click here to visit the AltsWire directory page.