0001628280-26-056009 | 10-Q | XBRL Viewer | JP Morgan Real Estate Income Trust INC

ck0001893262_NumberOfRealEstatePropertiesAcquired

ck0001893262_NumberOfRealEstatePropertiesAcquired

ck0001893262_NumberOfRealEstatePropertiesAcquired

Percentage of Interest Acquired in Asset Acquisition

ck0001893262_NumberOfRealEstatePropertiesAcquired

ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition

97.50%

Number Of Real Estate Transactions

ck0001893262_NumberOfRealEstateTransactions

Number Of Real Estate Transactions

ck0001893262_NumberOfRealEstateTransactions

Number Of Real Estate Transactions

ck0001893262_NumberOfRealEstateTransactions

Reclassified Leases

ck0001893262_ReclassifiedLeases

$ 8,500,000

Building and Building Improvement Purchase Price Allocation

ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation

41,211,000

Land and Land Improvement Purchase Price Allocation

ck0001893262_LandAndLandImprovementPurchasePriceAllocation

19,786,000

Furniture Fixture and Equipment Purchase Price Allocation

ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation

197,000

InPlace Lease and Above Market Intangible Purchase Price Allocation

ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation

29,412,000

Purchase price allocation Deferred Rental Income

ck0001893262_PurchasePriceAllocationDeferredRentalIncome

53,000

Asset Acquisition Purchase Price Allocation of Real Estate Properties

ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties

90,553,000

Asset Acquisition Purchase Price Allocation of Net Working Capital Assumed

ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed

1,365,000

Asset Acquisition Recognized Identifiable Assets Acquired and Liabilities Assumed Deposit Applied

ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied

1,000,000

Asset Acquisition Recognized Identifiable Assets Acquired and Liabilities Assumed Contributions from Non-Controlling Interest

ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest

1,544,000

Asset Acquisition Purchase Price Allocation of Real Estate Properties Acquired and Assumed Debt

ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt

$ 86,644,000

Investments In Real Estate Debt [Text Block]

ck0001893262_InvestmentsInRealEstateDebtTextBlock

Investments in Real Estate Debt

The following table details the Company’s investments in real estate debt ($ in thousands):

June 30, 2026

December 31, 2025

Real Estate Debt

Number of Positions

Credit Rating

Weighted-Average
Coupon

Weighted-Average Maturity Date

Cost Basis

Fair Value

Cost Basis

Fair Value

Commercial Mortgage Loan

Not Rated

SOFR + 2.52%

December 15, 2027

304,600

304,589

224,600

Originations

On January 14, 2026, the Company originated an $84.0 million whole loan, of which $80.0 million has been funded, for the acquisition and renovation of a 198-unit, 1986-vintage, townhome style multifamily property in the San Diego, California Metropolitan Statistical Area.

The following table details the amounts recognized for the Company's investments in real estate debt ($ in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Interest income	$	4,820	$	2,126	$	10,030	$	3,606
Unrealized gain (loss)	16		(42)		(12)		(44)
Total	$	4,836	$	2,084	$	10,018	$	3,562

Number Of Investment Positions

ck0001893262_NumberOfInvestmentPositions

Trading Securities Debt Funded Amount

ck0001893262_TradingSecuritiesDebtFundedAmount

$ 80,000,000.0

Number of Units Collateral Under Loan

ck0001893262_NumberOfUnitsCollateralUnderLoan

198

Income Recognized From Investments In Real Estate Debt [Table Text Block]

ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock

The following table details the amounts recognized for the Company's investments in real estate debt ($ in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Interest income	$	4,820	$	2,126	$	10,030	$	3,606
Unrealized gain (loss)	16		(42)		(12)		(44)
Total	$	4,836	$	2,084	$	10,018	$	3,562

Trading Securities Weighted Average Coupon Rate

ck0001893262_TradingSecuritiesWeightedAverageCouponRate

6.80%

Trading Securities Weighted Average Maturity Date

ck0001893262_TradingSecuritiesWeightedAverageMaturityDate

Aug. 19, 2039

Debt Securities Trading And Equity Securities Fv Ni Face Amount

ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount

$ 15,000,000

Debt Securities Trading And Equity Securities Fv Ni Face Amount

ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount

$ 15,000,000

Income Recognized From Investments In Real Estate Related and Other Securities [Table Text Block]

ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock

The following table details the amounts recognized for the Company's investments in real estate-related and other securities ($ in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Interest income	$	256	$	885	$	507	$	1,437
Unrealized (loss) gain	(96)		(168)		(324)		361
Realized gain	—		336		—		336
Total	$	160	$	1,053	$	183	$	2,134

Intangible Assets and Liabilities Disclosure [Text Block]

ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock

Intangibles

The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands):


	June 30, 2026		December 31, 2025
Intangible assets:
In-place lease intangibles	$	97,244	$	77,750
Above-market lease intangibles	7,127		3,124
Total intangible assets	104,371		80,874
Accumulated amortization:
In-place lease amortization	(29,781)		(21,448)
Above-market lease amortization	(1,145)		(878)
Total accumulated amortization	(30,926)		(22,326)
Intangible assets, net	$	73,445	$	58,548
Intangible liabilities:
Below-market lease intangibles	$	(11,575)	$	(11,522)
Accumulated amortization:
Below-market lease amortization	4,440		3,087
Intangible liabilities, net	$	(7,135)	$	(8,435)

The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of June 30, 2026 is as follows ($ in thousands):


	In-place Lease Intangibles		Above-market Lease Intangibles		Below-market Lease Intangibles
2026 (remaining)	$	6,928	$	589	$	(1,040)
2027	12,264		1,171		(1,595)
2028	10,835		1,136		(1,331)
2029	9,342		1,039		(789)
2030	8,318		895		(671)
Thereafter	19,776		1,152		(1,709)
Total	$	67,463	$	5,982	$	(7,135)

The in-place lease intangible amortization is recorded in depreciation and amortization while the above-market and below-market intangible amortization is recorded in rental revenue on the Company's Condensed Consolidated Statements of Operations.

Schedule Of Gross Carrying Amount and Accumulated Amortization Intangibles Assets and Liabilities [Table Text Block]

ck0001893262_ScheduleOfGrossCarryingAmountAndAccumulatedAmortizationOfTheCompanysIntangiblesAssetsAndLiabilitiesTableTextBlock

The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities consisted of the following ($ in thousands):


	June 30, 2026		December 31, 2025
Intangible assets:
In-place lease intangibles	$	97,244	$	77,750
Above-market lease intangibles	7,127		3,124
Total intangible assets	104,371		80,874
Accumulated amortization:
In-place lease amortization	(29,781)		(21,448)
Above-market lease amortization	(1,145)		(878)
Total accumulated amortization	(30,926)		(22,326)
Intangible assets, net	$	73,445	$	58,548
Intangible liabilities:
Below-market lease intangibles	$	(11,575)	$	(11,522)
Accumulated amortization:
Below-market lease amortization	4,440		3,087
Intangible liabilities, net	$	(7,135)	$	(8,435)

Schedule of Finite-Lived Intangible Assets and Liabilities , Future Amortization Expense [Table Text Block]

ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock

The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter as of June 30, 2026 is as follows ($ in thousands):


	In-place Lease Intangibles		Above-market Lease Intangibles		Below-market Lease Intangibles
2026 (remaining)	$	6,928	$	589	$	(1,040)
2027	12,264		1,171		(1,595)
2028	10,835		1,136		(1,331)
2029	9,342		1,039		(789)
2030	8,318		895		(671)
Thereafter	19,776		1,152		(1,709)
Total	$	67,463	$	5,982	$	(7,135)

Finite-Lived Intangible Asset, Expected Amortization, after Year Four

ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour

$ 19,776,000

Finite-Lived Intangible Asset, Expected Amortization, after Year Four

ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour

1,152,000

Below Market Lease Amortization Income After Year Four

ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour

1,709,000

Deferred Finance Costs, Net for Mortgage Notes

ck0001893262_DeferredFinanceCostsNetForMortgageNotes

3,761,000

Deferred Finance Costs, Net for Mortgage Notes

ck0001893262_DeferredFinanceCostsNetForMortgageNotes

4,327,000

Debt Instrument Discount, Net

ck0001893262_DebtInstrumentDiscountNet

1,563,000

Debt Instrument Discount, Net

ck0001893262_DebtInstrumentDiscountNet

1,869,000

Long Term Debt Maturities Repayments Of Principal After Year Four

ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour

$ 19,493,000

Line of Credit, Number of Extensions

ck0001893262_LineOfCreditNumberOfExtensions

Line of Credit, Extension Options

ck0001893262_LineOfCreditExtensionOptions

1 year

Increase In Maximum Borrowing Capacity Of Credit Facility

ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility

$ 675,000,000.0

Schedule of Due to Affiliates [Table Text Block]

ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock

The following table details the components of due to affiliates ($ in thousands):


	June 30, 2026		December 31, 2025
Operating expenses	$	14,911	$	14,254
Organization and offering costs	4,615		5,366
Stockholder servicing fees	8,459		6,301
Management fee	3,148		1,683
Accrued performance participation allocation	285		1,365
Total	$	31,418	$	28,969

Operating expenses, due to affiliates

ck0001893262_OperatingExpensesDueToAffiliates

$ 14,911,000

Operating expenses, due to affiliates

ck0001893262_OperatingExpensesDueToAffiliates

14,254,000

Organization and Offering Costs Due to Affiliates

ck0001893262_OrganizationAndOfferingCostsDueToAffiliates

4,615,000

Organization and Offering Costs Due to Affiliates

ck0001893262_OrganizationAndOfferingCostsDueToAffiliates

5,366,000

Stockholder Servicing Fee Due To Affiliate

ck0001893262_StockholderServicingFeeDueToAffiliate

8,459,000

Stockholder Servicing Fee Due To Affiliate

ck0001893262_StockholderServicingFeeDueToAffiliate

6,301,000

Management Fees Due To Affiliates

ck0001893262_ManagementFeesDueToAffiliates

3,148,000

Management Fees Due To Affiliates

ck0001893262_ManagementFeesDueToAffiliates

1,683,000

Accrued Performance Participation Allocation

ck0001893262_AccruedPerformanceParticipationAllocation

285,000

Accrued Performance Participation Allocation

ck0001893262_AccruedPerformanceParticipationAllocation

1,365,000

Due To Affiliates

ck0001893262_DueToAffiliates

31,418,000

Due To Affiliates

ck0001893262_DueToAffiliates

$ 28,969,000

Period For Reimbursement Of Operating Expenses

ck0001893262_PeriodForReimbursementOfOperatingExpenses

60 months

Reimbursement Of Operating Expenses

ck0001893262_ReimbursementOfOperatingExpenses

$ 500,000

Reimbursement Of Operating Expenses

ck0001893262_ReimbursementOfOperatingExpenses

500,000

Organization and offering costs

ck0001893262_OrganizationAndOfferingCosts

$ 7,500,000

Period For Reimbursement Of Advance Expenses

ck0001893262_PeriodForReimbursementOfAdvanceExpenses

60 months

Amount Reimbursed to Adviser

ck0001893262_AmountReimbursedToAdviser

$ 400,000

Amount Reimbursed to Adviser

ck0001893262_AmountReimbursedToAdviser

800,000

Organization and offering expenses due

ck0001893262_OrganizationAndOfferingExpensesDue

4,600,000

Organization and offering expenses due

ck0001893262_OrganizationAndOfferingExpensesDue

$ 5,400,000

ck0001893262_AnnualStockHolderServicingFeePercentage

0.25%

ck0001893262_AnnualStockHolderServicingFeePercentage

0.85%

ck0001893262_AnnualStockHolderServicingFeePercentage

0.00%

ck0001893262_AnnualStockHolderServicingFeePercentage

0.00%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentage

0.00%

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

0.85%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

0.85%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

8.75%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

8.75%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

8.75%

Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit

ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit

8.75%

Stockholder Servicing Fees

ck0001893262_StockholderServicingFees

$ 8,500,000

Stockholder Servicing Fees

ck0001893262_StockholderServicingFees

8,500,000

Stockholder Servicing Fees

ck0001893262_StockholderServicingFees

$ 6,300,000

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

1.00%

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

1.00%

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

1.00%

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

1.00%

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

0.75%

Management Fee Equal To Percentage Of Net Asset Value Per Annum

ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum

0.75%

ck0001893262_ManagementFees

$ 900,000

ck0001893262_ManagementFees

500,000

ck0001893262_ManagementFees

1,500,000

Annual Catch-Up Percentage

ck0001893262_ManagementFees

800,000

Accrued Management Fees

ck0001893262_AccruedManagementFees

$ 3,100,000

ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn

12.50%

ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn

10.00%

Annual Hurdle Percentage

ck0001893262_AnnualHurdlePercentage

5.00%

Annual Hurdle Percentage

ck0001893262_AnnualHurdlePercentage

7.00%

ck0001893262_AnnualCatchUpPercentage

50.00%

ck0001893262_PerformanceParticipationAllocation

$ 0

ck0001893262_PerformanceParticipationAllocation

300,000

ck0001893262_PerformanceParticipationAllocation