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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ecd_TradingArrByIndTable_terseLabel_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual</link:label>
    <link:label id="lab_ecd_TradingArrByIndTable_label_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrByIndTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TradingArrByIndTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrByIndTable" xlink:to="lab_ecd_TradingArrByIndTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_01a10d86-a84e-7805-ace6-c84a83143a4a_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Denominator:</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TradingArrAxis_terseLabel_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangement:</link:label>
    <link:label id="lab_ecd_TradingArrAxis_label_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TradingArrAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrAxis" xlink:to="lab_ecd_TradingArrAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionTable_01a10d86-a84e-7995-a813-3a1d7ad40f5b_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionTable_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionTable" xlink:to="lab_us-gaap_AssetAcquisitionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_01a10d86-a84e-73f3-859d-d5d48f1b9194_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccruedPerformanceParticipationAllocation_01a10d86-a84e-7dc4-b36c-9d1b60c9595d_terseLabel_en-US" xlink:label="lab_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued performance participation allocation</link:label>
    <link:label id="lab_ck0001893262_AccruedPerformanceParticipationAllocation_label_en-US" xlink:label="lab_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Performance Participation Allocation</link:label>
    <link:label id="lab_ck0001893262_AccruedPerformanceParticipationAllocation_documentation_en-US" xlink:label="lab_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued performance participation allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedPerformanceParticipationAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:to="lab_ck0001893262_AccruedPerformanceParticipationAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeMember_01a10d86-a84e-78cc-8feb-ce736efa6ecd_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement</link:label>
    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAcquisitionCost_01a10d86-a84e-7d2f-921a-94937d6af781_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAcquisitionCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-acquisition costs</link:label>
    <link:label id="lab_ck0001893262_OtherAcquisitionCost_label_en-US" xlink:label="lab_ck0001893262_OtherAcquisitionCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition cost, Other</link:label>
    <link:label id="lab_ck0001893262_OtherAcquisitionCost_documentation_en-US" xlink:label="lab_ck0001893262_OtherAcquisitionCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition cost, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAcquisitionCost" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAcquisitionCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAcquisitionCost" xlink:to="lab_ck0001893262_OtherAcquisitionCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventMember_01a10d86-a8ce-70ec-befe-49de19dd19c6_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_01a10d86-a84e-761f-8c5b-f19560863054_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to JPMREIT stockholders, diluted</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_01a10d86-a84e-7e19-93a2-73d5ca183fe7_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to JPMREIT stockholders, diluted</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_01a10d86-a84e-7d71-93c6-5738146f2b12_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ClassEOperatingPartnershipUnitMember_01a10d86-a84e-7ad0-bac8-110da576a1ca_terseLabel_en-US" xlink:label="lab_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class E Operating Partnership Unit</link:label>
    <link:label id="lab_ck0001893262_ClassEOperatingPartnershipUnitMember_01a10d86-a84e-74a5-890b-d58891794db8_verboseLabel_en-US" xlink:label="lab_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class E Units</link:label>
    <link:label id="lab_ck0001893262_ClassEOperatingPartnershipUnitMember_label_en-US" xlink:label="lab_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class E Operating Partnership Unit [Member]</link:label>
    <link:label id="lab_ck0001893262_ClassEOperatingPartnershipUnitMember_documentation_en-US" xlink:label="lab_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class E operating partnership unit.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ClassEOperatingPartnershipUnitMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:to="lab_ck0001893262_ClassEOperatingPartnershipUnitMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_01a10d86-a84e-7f87-9be4-8b943041f4ff_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Interest Rate</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtWeightedAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility_01a10d86-a84f-74ca-bf44-26f66c70124a_terseLabel_en-US" xlink:label="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase the aggregate commitments amount</link:label>
    <link:label id="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility_label_en-US" xlink:label="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase In Maximum Borrowing Capacity Of Credit Facility</link:label>
    <link:label id="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility_documentation_en-US" xlink:label="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase in maximum borrowing capacity of credit facility.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:to="lab_ck0001893262_IncreaseInMaximumBorrowingCapacityOfCreditFacility" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentAxis_01a10d86-a84e-7045-ab85-9f28a7e137b0_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancialInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentAxis" xlink:to="lab_us-gaap_FinancialInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock_01a10d86-a84e-786b-8259-d9d642f3988b_terseLabel_en-US" xlink:label="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity and Redeemable Non-Controlling Interest</link:label>
    <link:label id="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock_label_en-US" xlink:label="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and Redeemable Non-Controlling Interest [Text Block]</link:label>
    <link:label id="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity and Redeemable Non-Controlling Interest.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:to="lab_ck0001893262_EquityAndRedeemableNon-ControllingInterestTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateLineItems_01a10d86-a7a0-7a47-8bec-1179550f7d54_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:label id="lab_us-gaap_RealEstateLineItems_label_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateLineItems" xlink:to="lab_us-gaap_RealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation_01a10d86-a84e-7f2e-805e-1d50acd8ee3f_terseLabel_en-US" xlink:label="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture, fixtures and equipment</link:label>
    <link:label id="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation_label_en-US" xlink:label="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture Fixture and Equipment Purchase Price Allocation</link:label>
    <link:label id="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation_documentation_en-US" xlink:label="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Furniture fixture and equipment purchase price allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:to="lab_ck0001893262_FurnitureFixtureAndEquipmentPurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_01a10d86-a7a0-712e-b3a3-27ffc10e5519_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_01a10d86-a84e-70c1-91f9-ad8db6f8dbb9_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation_01a10d86-a84e-7952-8686-c96c398add5e_terseLabel_en-US" xlink:label="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation_label_en-US" xlink:label="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land and Land Improvement Purchase Price Allocation</link:label>
    <link:label id="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation_documentation_en-US" xlink:label="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land and land improvement purchase price allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LandAndLandImprovementPurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:to="lab_ck0001893262_LandAndLandImprovementPurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MultifamilySegmentMember_01a10d86-a84e-7213-9839-22b29403c65f_terseLabel_en-US" xlink:label="lab_ck0001893262_MultifamilySegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily</link:label>
    <link:label id="lab_ck0001893262_MultifamilySegmentMember_label_en-US" xlink:label="lab_ck0001893262_MultifamilySegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_MultifamilySegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_MultifamilySegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Multifamily segment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MultifamilySegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MultifamilySegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MultifamilySegmentMember" xlink:to="lab_ck0001893262_MultifamilySegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_01a10d86-a7a0-75d5-90e3-377ac60594ee_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of the Mortgage Notes Secured by Properties and Repurchase Facility</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_01a10d86-a84e-770a-93f0-d1c7c19f8c2f_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityExTransitionPeriod_01a10d86-a8ce-7f06-998f-6695fb6eac73_terseLabel_en-US" xlink:label="lab_dei_EntityExTransitionPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Ex Transition Period</link:label>
    <link:label id="lab_dei_EntityExTransitionPeriod_label_en-US" xlink:label="lab_dei_EntityExTransitionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Ex Transition Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityExTransitionPeriod" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityExTransitionPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityExTransitionPeriod" xlink:to="lab_dei_EntityExTransitionPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCosts_01a10d86-a84e-7e80-8da5-566fb91dd191_terseLabel_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization and offering costs</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCosts_label_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization and offering costs</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCosts_documentation_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Organization and offering costs.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OrganizationAndOfferingCosts" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OrganizationAndOfferingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OrganizationAndOfferingCosts" xlink:to="lab_ck0001893262_OrganizationAndOfferingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember_01a10d86-a8ce-7a30-a772-764fbcf8926b_terseLabel_en-US" xlink:label="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CMBS Investments Real Estate And Other Securities</link:label>
    <link:label id="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember_label_en-US" xlink:label="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Backed Securities Investments In Real Estate And Other Securities [Member]</link:label>
    <link:label id="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember_documentation_en-US" xlink:label="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial mortgage backed securities investments in real estate and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:to="lab_ck0001893262_CommercialMortgageBackedSecuritiesInvestmentsInRealEstateAndOtherSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CarolineWestGrayMember_01a10d86-a7a0-79c2-b639-95170008e25a_terseLabel_en-US" xlink:label="lab_ck0001893262_CarolineWestGrayMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Caroline West Gray</link:label>
    <link:label id="lab_ck0001893262_CarolineWestGrayMember_label_en-US" xlink:label="lab_ck0001893262_CarolineWestGrayMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Caroline West Gray [Member]</link:label>
    <link:label id="lab_ck0001893262_CarolineWestGrayMember_documentation_en-US" xlink:label="lab_ck0001893262_CarolineWestGrayMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Caroline west gray.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CarolineWestGrayMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CarolineWestGrayMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CarolineWestGrayMember" xlink:to="lab_ck0001893262_CarolineWestGrayMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_IndustrialPropertyMember_01a11d3f-219a-7a35-95a9-84b1516f31d4_terseLabel_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial</link:label>
    <link:label id="lab_srt_IndustrialPropertyMember_label_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_IndustrialPropertyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_IndustrialPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_IndustrialPropertyMember" xlink:to="lab_srt_IndustrialPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid_01a10d86-a84e-754e-aae3-11f0bfbd9af6_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Reclassify to distributions payable/paid</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Input Reconciliation Recurring Basis Liability Reclassify To Distributions Payable Or Paid</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value measurement with unobservable input reconciliation recurring basis liability reclassify to distributions payable or paid.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputReconciliationRecurringBasisLiabilityReclassifyToDistributionsPayableOrPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LongTermDebtByMaturityLineItems_01a10d86-a84f-713e-bd7e-c9a207ae136c_terseLabel_en-US" xlink:label="lab_ck0001893262_LongTermDebtByMaturityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long Term Debt By Maturity [Line Items]</link:label>
    <link:label id="lab_ck0001893262_LongTermDebtByMaturityLineItems_label_en-US" xlink:label="lab_ck0001893262_LongTermDebtByMaturityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Debt By Maturity [Line Items]</link:label>
    <link:label id="lab_ck0001893262_LongTermDebtByMaturityLineItems_documentation_en-US" xlink:label="lab_ck0001893262_LongTermDebtByMaturityLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term debt by maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LongTermDebtByMaturityLineItems" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LongTermDebtByMaturityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LongTermDebtByMaturityLineItems" xlink:to="lab_ck0001893262_LongTermDebtByMaturityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_01a10d86-a8ce-7623-a63f-635d43805bfe_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-Place Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeasesAcquiredInPlaceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember_01a10d86-a84e-75bd-826b-e89ce27c1a18_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate debt, real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In Real Estate Debt, Real Estate-Related And Other Securities Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in real estate debt, real estate-related and other securities member.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:to="lab_ck0001893262_InvestmentsInRealEstateDebtRealEstateRelatedAndOtherSecuritiesSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_01a10d86-a8ce-7069-9da2-4bbe60107cf2_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CarolinePostOakMember_01a10d86-a7a0-7d73-9dc6-28853daef12f_terseLabel_en-US" xlink:label="lab_ck0001893262_CarolinePostOakMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Caroline Post Oak</link:label>
    <link:label id="lab_ck0001893262_CarolinePostOakMember_label_en-US" xlink:label="lab_ck0001893262_CarolinePostOakMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Caroline Post Oak [Member]</link:label>
    <link:label id="lab_ck0001893262_CarolinePostOakMember_documentation_en-US" xlink:label="lab_ck0001893262_CarolinePostOakMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Caroline post oak.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CarolinePostOakMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CarolinePostOakMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CarolinePostOakMember" xlink:to="lab_ck0001893262_CarolinePostOakMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_01a10d86-a84e-743f-9362-0ff89766511b_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems_01a10d86-a7a0-7435-869e-df61fd7a1687_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt and Equity Securities, FV-NI [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt and Equity Securities, FV-NI [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:to="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember_01a10d86-a84e-7bfb-95fd-119ad3f16417_terseLabel_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Revolving Credit Facility</link:label>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember_label_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Revolving Credit Facility [Member]</link:label>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember_documentation_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsecured revolving credit facility.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_UnsecuredRevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:to="lab_ck0001893262_UnsecuredRevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt_01a10d86-a84e-7280-891a-910a82946808_negatedLabel_en-US" xlink:label="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Origination of investments in real estate debt</link:label>
    <link:label id="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt_label_en-US" xlink:label="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Origination of Investments in Real Estate Debt</link:label>
    <link:label id="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt_documentation_en-US" xlink:label="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Origination of investments in real estate debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OriginationOfInvestmentsInRealEstateDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:to="lab_ck0001893262_OriginationOfInvestmentsInRealEstateDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_01a10d86-a84e-7291-8ccd-9b363a58973d_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses_01a10d86-a84e-7e9a-9d95-03b6a8c22351_terseLabel_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period for reimbursement of operating expenses</link:label>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses_label_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period For Reimbursement Of Operating Expenses</link:label>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses_documentation_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period for reimbursement of operating expenses.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PeriodForReimbursementOfOperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:to="lab_ck0001893262_PeriodForReimbursementOfOperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_01a10d86-a84e-7c1d-b068-b3b3152b2f50_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember_01a10d86-a7a0-7ac5-adad-25c76d4fd6df_terseLabel_en-US" xlink:label="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class X and Y units of Operating Partnership</link:label>
    <link:label id="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember_label_en-US" xlink:label="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class X and Y units of the Operating Partnership [Member]</link:label>
    <link:label id="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember_documentation_en-US" xlink:label="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class x and y units of the operating partnership member.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:to="lab_ck0001893262_ClassXAndYUnitsOfTheOperatingPartnershipMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAbstract_01a10d86-a84e-7f41-8b00-26c38e3aa4ac_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:label id="lab_us-gaap_LeasesAbstract_label_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LeasesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAbstract" xlink:to="lab_us-gaap_LeasesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions_01a10d86-a7a0-7127-9376-e3020296b95e_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deposits on real estate acquisitions</link:label>
    <link:label id="lab_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions_label_en-US" xlink:label="lab_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Deposits on Real Estate Acquisitions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForDepositsOnRealEstateAcquisitions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:to="lab_us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputCreditSpreadMember_01a10d86-a84e-7c35-a932-5e79930fcb97_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market credit spread</link:label>
    <link:label id="lab_us-gaap_MeasurementInputCreditSpreadMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Credit Spread [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputCreditSpreadMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputCreditSpreadMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputCreditSpreadMember" xlink:to="lab_us-gaap_MeasurementInputCreditSpreadMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesDomain_01a10d86-a8ce-72f0-83db-be1a8ed8fab2_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesDomain_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesDomain" xlink:to="lab_srt_ConsolidatedEntitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_01a10d86-a84e-7a05-ac19-bcb29efab0a7_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsPayableOtherCurrent_01a10d86-a84f-76a1-b646-c06e2136fc60_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableOtherCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable</link:label>
    <link:label id="lab_us-gaap_AccountsPayableOtherCurrent_label_en-US" xlink:label="lab_us-gaap_AccountsPayableOtherCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable, Other, Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableOtherCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsPayableOtherCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableOtherCurrent" xlink:to="lab_us-gaap_AccountsPayableOtherCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_01a10d86-a84e-7afb-99f2-ae2bb5b0e58f_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToMinorityShareholders" xlink:to="lab_us-gaap_PaymentsToMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_01a10d86-a7a0-7db2-a32e-593dddc17dfe_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MaximumCapitalCommitments_01a10d86-a84f-7250-98d6-5b21390c150a_terseLabel_en-US" xlink:label="lab_ck0001893262_MaximumCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum capital commitments</link:label>
    <link:label id="lab_ck0001893262_MaximumCapitalCommitments_label_en-US" xlink:label="lab_ck0001893262_MaximumCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Capital Commitments</link:label>
    <link:label id="lab_ck0001893262_MaximumCapitalCommitments_documentation_en-US" xlink:label="lab_ck0001893262_MaximumCapitalCommitments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum capital commitments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MaximumCapitalCommitments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MaximumCapitalCommitments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MaximumCapitalCommitments" xlink:to="lab_ck0001893262_MaximumCapitalCommitments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NorfolkIndustrialPortfolioMember_01a10d86-a84e-73d2-b5cf-ff95be244d4a_terseLabel_en-US" xlink:label="lab_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Norfolk Industrial Portfolio</link:label>
    <link:label id="lab_ck0001893262_NorfolkIndustrialPortfolioMember_label_en-US" xlink:label="lab_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Norfolk Industrial Portfolio [Member]</link:label>
    <link:label id="lab_ck0001893262_NorfolkIndustrialPortfolioMember_documentation_en-US" xlink:label="lab_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Norfolk industrial portfolio.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NorfolkIndustrialPortfolioMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:to="lab_ck0001893262_NorfolkIndustrialPortfolioMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_01a10d86-a84e-719e-93a3-8ea81fa8b3b6_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value per share (usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_01a10d86-a84e-7a3a-b16d-be3df1ad5779_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets:</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_01a10d86-a84e-74d7-bd36-c176ec647ffe_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Excluding Goodwill, after Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_01a10d86-a7a0-7cd1-910f-6f817ffc0902_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notional Amount</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_01a10d86-a7a0-7854-9ac4-965d297a217f_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares of common stock outstanding - basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet_01a10d86-a84e-775e-82bf-fbf4f88d2008_terseLabel_en-US" xlink:label="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of above- and below-market lease intangibles, net</link:label>
    <link:label id="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet_label_en-US" xlink:label="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of above and Below Market Lease Intangibles Net</link:label>
    <link:label id="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet_documentation_en-US" xlink:label="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of above- and below-market lease intangibles, net.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:to="lab_ck0001893262_AmortizationOfAboveAndBelowMarketLeaseIntangiblesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities_01a10d86-a7a0-7382-9955-73f6011debed_terseLabel_en-US" xlink:label="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities_label_en-US" xlink:label="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Real Estate Related And Other Securities</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities_documentation_en-US" xlink:label="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from real estate related and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:to="lab_ck0001893262_ProceedsFromRealEstateRelatedAndOtherSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_01a10d86-a84f-7936-8b38-2ee24e453fe6_terseLabel_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative</link:label>
    <link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_label_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_01a10d86-a84e-74ce-aa1f-c53af3f11935_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reportable segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments_01a10d86-a84e-76ff-bfc3-dc3319a97bb3_terseLabel_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption value adjustments on mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments_01a10d86-a84e-73eb-80a2-3d07f3e20262_verboseLabel_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Redemption value adjustment</link:label>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments_label_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain Loss On Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments_documentation_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on mandatorily redeemable instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:to="lab_ck0001893262_UnrealizedGainLossOnMandatorilyRedeemableInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_01a10d86-a84e-7eb5-b13f-338d1f01b754_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAtCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied_01a10d86-a7a0-7ddf-b089-23e618baec11_negatedLabel_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deposit applied</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition Recognized Identifiable Assets Acquired and Liabilities Assumed Deposit Applied</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisition recognized identifiable assets acquired and liabilities assumed deposit applied.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:to="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositApplied" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_01a10d86-a7a0-7bdb-8dc7-824f16ebcc0b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value of Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Assets at Fair Value [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_01a10d86-a84e-71bf-b980-4106c54943b7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits_01a10d86-a84e-76fb-8cac-743da206b00b_terseLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of operating partnership units (in units/shares)</link:label>
    <link:label id="lab_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partners' Capital Account, Units, Sale of Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PartnersCapitalAccountUnitsSaleOfUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits" xlink:to="lab_us-gaap_PartnersCapitalAccountUnitsSaleOfUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccruedManagementFees_01a10d86-a7a0-7a57-9029-4762c71d2231_terseLabel_en-US" xlink:label="lab_ck0001893262_AccruedManagementFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued management fees</link:label>
    <link:label id="lab_ck0001893262_AccruedManagementFees_label_en-US" xlink:label="lab_ck0001893262_AccruedManagementFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Management Fees</link:label>
    <link:label id="lab_ck0001893262_AccruedManagementFees_documentation_en-US" xlink:label="lab_ck0001893262_AccruedManagementFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued management fees.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedManagementFees" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedManagementFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedManagementFees" xlink:to="lab_ck0001893262_AccruedManagementFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_01a10d86-a84e-7c80-b9b6-491dc072b64b_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase Price</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition, Consideration Transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionConsiderationTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:to="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandAndLandImprovements_01a10d86-a7a0-7307-aa55-905b3e7833c1_terseLabel_en-US" xlink:label="lab_us-gaap_LandAndLandImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_us-gaap_LandAndLandImprovements_label_en-US" xlink:label="lab_us-gaap_LandAndLandImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land and Land Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandAndLandImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LandAndLandImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandAndLandImprovements" xlink:to="lab_us-gaap_LandAndLandImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassYMember_01a10d86-a7a0-7a69-88a4-1fa7f9ebf7e3_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassYMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class Y</link:label>
    <link:label id="lab_ck0001893262_CommonClassYMember_01a10d86-a7a0-70d5-b87f-ea0a3d4db536_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassYMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class Y Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassYMember_01a10d86-a7a0-7748-864a-ef163ce4fbe0_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassYMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class Y</link:label>
    <link:label id="lab_ck0001893262_CommonClassYMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassYMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class Y [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassYMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassYMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common class y member.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassYMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassYMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonClassYMember" xlink:to="lab_ck0001893262_CommonClassYMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RetailPropertyMember_01a11d41-1c78-7cde-9767-5ca51d3df8e4_terseLabel_en-US" xlink:label="lab_ck0001893262_RetailPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_ck0001893262_RetailPropertyMember_label_en-US" xlink:label="lab_ck0001893262_RetailPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Property [Member]</link:label>
    <link:label id="lab_ck0001893262_RetailPropertyMember_documentation_en-US" xlink:label="lab_ck0001893262_RetailPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retail Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RetailPropertyMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RetailPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RetailPropertyMember" xlink:to="lab_ck0001893262_RetailPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_01a10d86-a84e-778c-b684-2c29b0466267_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PreserveAtPineValleyMember_01a10d86-a84e-7c93-820f-4c3f8e91299b_terseLabel_en-US" xlink:label="lab_ck0001893262_PreserveAtPineValleyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preserve at Pine Valley</link:label>
    <link:label id="lab_ck0001893262_PreserveAtPineValleyMember_label_en-US" xlink:label="lab_ck0001893262_PreserveAtPineValleyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preserve At Pine Valley [Member]</link:label>
    <link:label id="lab_ck0001893262_PreserveAtPineValleyMember_documentation_en-US" xlink:label="lab_ck0001893262_PreserveAtPineValleyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preserve At Pine Valley.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PreserveAtPineValleyMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PreserveAtPineValleyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PreserveAtPineValleyMember" xlink:to="lab_ck0001893262_PreserveAtPineValleyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember_01a10d86-a8ce-79e3-ae32-738483881fc0_terseLabel_en-US" xlink:label="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Properties Excluded From Acquisitions</link:label>
    <link:label id="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember_label_en-US" xlink:label="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Properties Excluded From Acquisitions [Member]</link:label>
    <link:label id="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember_documentation_en-US" xlink:label="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Properties Excluded From Acquisitions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PropertiesExcludedFromAcquisitionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:to="lab_ck0001893262_PropertiesExcludedFromAcquisitionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition_01a17ec4-5850-7761-986e-b95af9ea97cf_terseLabel_en-US" xlink:label="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of deposits on real estate acquisition</link:label>
    <link:label id="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition_label_en-US" xlink:label="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Return Of Deposits On Real Estate Acquisition</link:label>
    <link:label id="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition_documentation_en-US" xlink:label="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Return Of Deposits On Real Estate Acquisition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ReturnOfDepositsOnRealEstateAcquisition"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:to="lab_ck0001893262_ReturnOfDepositsOnRealEstateAcquisition" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationLineItems_01a10d86-a84e-7615-9822-1241290fb9e3_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationLineItems" xlink:to="lab_dei_DocumentInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:to="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_01a10d86-a84e-7b2c-a903-4970e2a234b8_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_01a10d86-a84e-7f8e-b72c-a74cb917dafd_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_01a10d86-a84e-742b-88e0-bc16a1e15c7a_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, after Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DistributionReinvestments_01a10d86-a84e-77ab-963d-65a5a618f7a6_terseLabel_en-US" xlink:label="lab_ck0001893262_DistributionReinvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution reinvestments</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestments_label_en-US" xlink:label="lab_ck0001893262_DistributionReinvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Reinvestments</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestments_documentation_en-US" xlink:label="lab_ck0001893262_DistributionReinvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution reinvestments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DistributionReinvestments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DistributionReinvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DistributionReinvestments" xlink:to="lab_ck0001893262_DistributionReinvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum_01a10d86-a7a0-7e1b-83f6-c7ee6c20fe9c_terseLabel_en-US" xlink:label="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee equal to percentage of net asset value per annum.</link:label>
    <link:label id="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum_label_en-US" xlink:label="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Equal To Percentage Of Net Asset Value Per Annum</link:label>
    <link:label id="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum_documentation_en-US" xlink:label="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management fee equal to percentage of net asset value per annum.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:to="lab_ck0001893262_ManagementFeeEqualToPercentageOfNetAssetValuePerAnnum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_01a10d86-a84e-741d-85f2-8dab5f62ea3c_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to JPMREIT stockholders, basic</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_01a10d86-a84e-7d66-8d0c-5b7e78e5e49c_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to JPMREIT stockholders, basic</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_01a10d86-a84e-786f-86d3-833c77a7bf68_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CapitalUnitClassDomain_01a10d86-a84e-71de-b4c9-ad51078684a7_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalUnitClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Unit, Class</link:label>
    <link:label id="lab_us-gaap_CapitalUnitClassDomain_label_en-US" xlink:label="lab_us-gaap_CapitalUnitClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Unit, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalUnitClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CapitalUnitClassDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalUnitClassDomain" xlink:to="lab_us-gaap_CapitalUnitClassDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_01a10d86-a8ce-7c0e-8e9b-f0e7cf6716bf_negatedLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Total accumulated amortization</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_01a10d86-a84e-70df-a1ed-4de14d4d3661_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel2Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_us-gaap_FairValueInputsLevel2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StockholderServicingFees_01a10d86-a7a0-7893-9a1c-499bce2fd269_terseLabel_en-US" xlink:label="lab_ck0001893262_StockholderServicingFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholder servicing fees</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFees_label_en-US" xlink:label="lab_ck0001893262_StockholderServicingFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholder Servicing Fees</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFees_documentation_en-US" xlink:label="lab_ck0001893262_StockholderServicingFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stockholder servicing fees.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StockholderServicingFees" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StockholderServicingFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StockholderServicingFees" xlink:to="lab_ck0001893262_StockholderServicingFees" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate_01a10d86-a8ce-782f-96f1-8c68f0bed7be_terseLabel_en-US" xlink:label="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption Of Working Capital In Conjunction With Acquisition Of Real Estate</link:label>
    <link:label id="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate_label_en-US" xlink:label="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assumption Of Working Capital In Conjunction With Acquisition Of Real Estate</link:label>
    <link:label id="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate_documentation_en-US" xlink:label="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assumption Of Working Capital In Conjunction With Acquisition Of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:to="lab_ck0001893262_AssumptionOfWorkingCapitalInConjunctionWithAcquisitionOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_01a10d86-a84e-7682-a04b-6507ddb36141_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Maximum facility size</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_01a10d86-a84e-768b-aab1-016a44ea4b1d_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Facility Size</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:to="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_01a10d86-a84e-7b6c-b909-611d78d0455c_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour_01a10d86-a84e-7b93-b41b-0fa22494d411_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour_label_en-US" xlink:label="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease Amortization Income After Year Four</link:label>
    <link:label id="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour_documentation_en-US" xlink:label="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Below market lease amortization income after year four.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:href="ck0001893262-20260930.xsd#ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:to="lab_ck0001893262_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_01a10d86-a84e-727b-80e2-e8601c8fe522_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_01a10d86-a84f-7c43-b223-48144bc69302_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FinancingReceivableTerm_01a10d86-a8ce-75e3-ac71-316dd2691634_terseLabel_en-US" xlink:label="lab_ck0001893262_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable term</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableTerm_label_en-US" xlink:label="lab_ck0001893262_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Term</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableTerm_documentation_en-US" xlink:label="lab_ck0001893262_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FinancingReceivableTerm" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FinancingReceivableTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FinancingReceivableTerm" xlink:to="lab_ck0001893262_FinancingReceivableTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTable_01a10d86-a84e-7468-a0fc-8dbc04b49324_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_01a10d86-a8ce-75ca-bfda-3532ab7b18b8_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensions_01a10d86-a84e-7f9c-8020-fa0a57e91fe7_terseLabel_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable extensions</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensions_label_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Extensions</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensions_documentation_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable Extensions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FinancingReceivableExtensions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FinancingReceivableExtensions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FinancingReceivableExtensions" xlink:to="lab_ck0001893262_FinancingReceivableExtensions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_01a10d86-a84e-7a88-a562-319e2f7aaf36_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_01a10d86-a8ce-758d-a6d9-0727eea1d0b5_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_label_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:to="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_01a10d86-a7a0-76fc-a610-0df965aca145_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Total Assets and Financial Results by Segment</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_01a10d86-a84e-7a1b-840d-5cb62e1e405b_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Controlling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_01a10d86-a7a0-7ef4-be82-5184f9913451_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InterestRateSwapMortgageNotesMember_01a10d86-a8ce-74e7-8c2d-ed9227a00eeb_terseLabel_en-US" xlink:label="lab_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps - mortgage notes</link:label>
    <link:label id="lab_ck0001893262_InterestRateSwapMortgageNotesMember_label_en-US" xlink:label="lab_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap Mortgage Notes [Member]</link:label>
    <link:label id="lab_ck0001893262_InterestRateSwapMortgageNotesMember_documentation_en-US" xlink:label="lab_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swap Mortgage Notes.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InterestRateSwapMortgageNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:to="lab_ck0001893262_InterestRateSwapMortgageNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_01a10d86-a84e-791a-b2aa-5e8742e881e6_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred financing costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_01a10d86-a84f-75f3-ae69-1b9acea13843_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
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    <link:label id="lab_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_01a10d86-a84e-7969-adb5-b695688e1ebe_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of Accounts Payable, Accrued Expenses and Other Liabilities</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accrued Liabilities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
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    <link:label id="lab_ck0001893262_SecondPublicOfferingMember_01a10d86-a84f-7c6c-839c-b07b7268d36e_terseLabel_en-US" xlink:label="lab_ck0001893262_SecondPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Second Public Offering</link:label>
    <link:label id="lab_ck0001893262_SecondPublicOfferingMember_label_en-US" xlink:label="lab_ck0001893262_SecondPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Public Offering [Member]</link:label>
    <link:label id="lab_ck0001893262_SecondPublicOfferingMember_documentation_en-US" xlink:label="lab_ck0001893262_SecondPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Second public offering.</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_01a10d86-a84e-703c-81fe-09f92de0b6fe_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution reinvestment</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Dividend Reinvestment Plan</link:label>
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    <link:label id="lab_ck0001893262_CodaOnCentreMember_01a10d86-a84e-70df-9786-11b1dfe1fa29_terseLabel_en-US" xlink:label="lab_ck0001893262_CodaOnCentreMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coda on Centre</link:label>
    <link:label id="lab_ck0001893262_CodaOnCentreMember_label_en-US" xlink:label="lab_ck0001893262_CodaOnCentreMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coda on Centre [Member]</link:label>
    <link:label id="lab_ck0001893262_CodaOnCentreMember_documentation_en-US" xlink:label="lab_ck0001893262_CodaOnCentreMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coda on centre.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CodaOnCentreMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CodaOnCentreMember"/>
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    <link:label id="lab_us-gaap_LongTermDebt_01a10d86-a84e-74bc-b167-f444876fb2f9_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_01a10d86-a84e-71b4-bfdf-8705e4ff72b5_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total future principal payments</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
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    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_01a10d86-a84f-7d62-b286-0046f3b83947_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash investing and financing activities:</link:label>
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    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Fair Value Adjustment</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value measurement with unobservable input reconciliation recurring basis liability adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetFairValueAdjustment" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_01a10d86-a84e-7f46-9e4e-6774e617f214_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_01a10d86-a84e-7beb-a059-585e8b5677f5_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in the Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:to="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_BassLoftsMember_01a10d86-a84e-7397-af11-0cdb733e9e23_terseLabel_en-US" xlink:label="lab_ck0001893262_BassLoftsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bass Lofts</link:label>
    <link:label id="lab_ck0001893262_BassLoftsMember_label_en-US" xlink:label="lab_ck0001893262_BassLoftsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bass Lofts [Member]</link:label>
    <link:label id="lab_ck0001893262_BassLoftsMember_documentation_en-US" xlink:label="lab_ck0001893262_BassLoftsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bass lofts.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_BassLoftsMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_BassLoftsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_BassLoftsMember" xlink:to="lab_ck0001893262_BassLoftsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_01a10d86-a84e-7d32-8b81-87720c9d4cd4_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost Basis</link:label>
    <link:label id="lab_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, and Equity Securities, FV-NI, Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost" xlink:to="lab_us-gaap_DebtSecuritiesTradingAndEquitySecuritiesFvNiCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_01a10d86-a8ce-73e0-9fc9-d391acdb39f1_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_01a10d86-a84e-7931-8c59-3878e6cb2a93_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic Net (Loss) Income per Share Attributable to JPMREIT Stockholders</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasicAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:to="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_01a10d86-a84e-78ac-9fa2-9fdbe2cb5831_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent_01a10d86-a84e-758d-971b-bd3113c04980_totalLabel_en-US" xlink:label="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent_label_en-US" xlink:label="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Expense and Other Liabilities Current and Non Current</link:label>
    <link:label id="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent_documentation_en-US" xlink:label="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued expense and other liabilities current and non current.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:to="lab_ck0001893262_AccruedExpenseAndOtherLiabilitiesCurrentAndNonCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_01a10d86-a84e-7b57-a608-26696876e086_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term of line of credit</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTerm" xlink:to="lab_us-gaap_DebtInstrumentTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassTMember_01a10d86-a84e-796a-8de2-bc672e5230d4_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassTMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class T</link:label>
    <link:label id="lab_ck0001893262_CommonClassTMember_01a10d86-a84e-7d2f-9dc4-95becaa27e45_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassTMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class T Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassTMember_01a10d86-a84e-7c3f-9254-9e308ea98db5_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassTMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class T</link:label>
    <link:label id="lab_ck0001893262_CommonClassTMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassTMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class T [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassTMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassTMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class T Shares.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassTMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassTMember"/>
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    <link:label id="lab_ck0001893262_AccruedRedemptions_01a10d86-a8ce-775d-8f5c-0984948593d0_terseLabel_en-US" xlink:label="lab_ck0001893262_AccruedRedemptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable non-controlling interest issued as settlement for performance participation allocation</link:label>
    <link:label id="lab_ck0001893262_AccruedRedemptions_label_en-US" xlink:label="lab_ck0001893262_AccruedRedemptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Redemptions</link:label>
    <link:label id="lab_ck0001893262_AccruedRedemptions_documentation_en-US" xlink:label="lab_ck0001893262_AccruedRedemptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued redemptions.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedRedemptions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedRedemptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedRedemptions" xlink:to="lab_ck0001893262_AccruedRedemptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_01a10d86-a84e-76ba-b7ec-ec21908abe01_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_01a10d86-a84e-7761-b43f-57d0c2e5f4f7_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Leases [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeasesOfLessorDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:to="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_01a10d86-a84e-74e5-808b-230b6d8208df_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ValuationTechniqueAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueAxis" xlink:to="lab_us-gaap_ValuationTechniqueAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockActivityRollForward_01a10d86-a84e-7bc1-8ede-3740051e6d0e_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockActivityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Activity [Roll Forward]</link:label>
    <link:label id="lab_ck0001893262_CommonStockActivityRollForward_label_en-US" xlink:label="lab_ck0001893262_CommonStockActivityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Activity [Roll Forward]</link:label>
    <link:label id="lab_ck0001893262_CommonStockActivityRollForward_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockActivityRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockActivityRollForward" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockActivityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockActivityRollForward" xlink:to="lab_ck0001893262_CommonStockActivityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember_01a10d86-a84e-7296-b471-e896cbb7b4d6_terseLabel_en-US" xlink:label="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Second Amendment to Subscription Agreement</link:label>
    <link:label id="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember_label_en-US" xlink:label="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Second Amendment To Subscription Agreement [Member]</link:label>
    <link:label id="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember_documentation_en-US" xlink:label="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Second amendment to subscription agreement.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_SecondAmendmentToSubscriptionAgreementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:to="lab_ck0001893262_SecondAmendmentToSubscriptionAgreementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_01a10d86-a84e-7c3f-b1b0-1e741960dc74_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_01a10d86-a84e-75fe-98ce-b885f9c2e753_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidationItemsDomain_01a10d86-a7a0-7a35-a8ad-596da2ca9972_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:label id="lab_srt_ConsolidationItemsDomain_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain" xlink:to="lab_srt_ConsolidationItemsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestReceivableAndOtherAssets_01a10d86-a84f-768f-8ca6-9f68a42a73ab_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivableAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivableAndOtherAssets_label_en-US" xlink:label="lab_us-gaap_InterestReceivableAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable and Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestReceivableAndOtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestReceivableAndOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivableAndOtherAssets" xlink:to="lab_us-gaap_InterestReceivableAndOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities_01a10d86-a84e-75ba-98d3-6af037a5a661_verboseLabel_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">(Loss) income from investments in real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities_label_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Loss From Investment In Real Estate Related Securities</link:label>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities_documentation_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income loss from investment in real estate related securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:to="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateRelatedSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgagesMember_01a10d86-a7a0-7e80-a23a-2f70f0829d43_terseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage Notes</link:label>
    <link:label id="lab_us-gaap_MortgagesMember_label_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgages [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgagesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MortgagesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember" xlink:to="lab_us-gaap_MortgagesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_01a10d86-a7a0-7867-a665-b6fdbc3e64a5_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Estimated Useful Lives of Assets</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant, and Equipment [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_01a10d86-a84e-701c-8f5e-ec26d21c9274_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Investments in Real Estate, Net</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Real Estate Properties [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepurchaseAgreementsMember_01a10d86-a84e-7ebd-80dd-a47e3035e350_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase Facility</link:label>
    <link:label id="lab_us-gaap_RepurchaseAgreementsMember_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepurchaseAgreementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepurchaseAgreementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepurchaseAgreementsMember" xlink:to="lab_us-gaap_RepurchaseAgreementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_01a10d86-a84e-7ea0-b615-772fb3b01eec_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings Per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock" xlink:to="lab_us-gaap_EarningsPerShareTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_01a10d86-a84e-7eab-bfb7-80f90262994c_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_01a10d86-a7a0-7177-bf75-73b5519adb1d_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock_01a10d86-a8ce-735c-8f5b-1f328084ab0f_terseLabel_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Amounts Recognized for Investments in Real Estate Debt</link:label>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock_label_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Recognized From Investments In Real Estate Debt [Table Text Block]</link:label>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income recognized from investments in real estate debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:to="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_label_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupIssuersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:to="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_01a10d86-a7a0-70bf-97f9-87994660b043_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Table]</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockValueRegistered_01a10d86-a84e-7630-b61f-5547896a03ae_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockValueRegistered" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares registered, amount</link:label>
    <link:label id="lab_ck0001893262_CommonStockValueRegistered_label_en-US" xlink:label="lab_ck0001893262_CommonStockValueRegistered" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Value Registered</link:label>
    <link:label id="lab_ck0001893262_CommonStockValueRegistered_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockValueRegistered" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock value registered.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockValueRegistered" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockValueRegistered"/>
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    <link:label id="lab_us-gaap_TradingSecurities_01a10d86-a84e-79d1-a88f-ee911f059794_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_TradingSecurities_label_en-US" xlink:label="lab_us-gaap_TradingSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, and Equity Securities, FV-NI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TradingSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecurities" xlink:to="lab_us-gaap_TradingSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_01a10d86-a84e-7ca8-ab99-11b6b0a03e80_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_01a10d86-a84e-76d6-a68d-5e7f05bc0b8f_terseLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent_01a10d86-a84e-7df6-a193-b0ae69472477_terseLabel_en-US" xlink:label="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate taxes payable</link:label>
    <link:label id="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrual for Taxes Other than Income Taxes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_01a10d86-a8ce-78c1-a4d3-2332736fa0a4_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputDiscountRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:to="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_01a10d86-a84e-7b99-8166-fdc627462e2a_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Outstanding Derivatives</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Interest Rate Derivatives [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements_01a10d86-a84e-7129-9f69-908120e53207_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of outstanding shares held, subject to mandatory repurchase requirements</link:label>
    <link:label id="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements_label_en-US" xlink:label="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Outstanding Shares Held, Subject to Mandatory Repurchase Requirements</link:label>
    <link:label id="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of outstanding shares held, subject to mandatory repurchase requirements.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:to="lab_ck0001893262_NumberOfOutstandingSharesHeldSubjectToMandatoryRepurchaseRequirements" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_01a10d86-a7a0-767c-a13c-e30e6a71e382_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_SingleFamilyRentalSegmentMember_01a10d86-a84e-738f-9065-fbeba260683d_terseLabel_en-US" xlink:label="lab_ck0001893262_SingleFamilyRentalSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Single-family rental</link:label>
    <link:label id="lab_ck0001893262_SingleFamilyRentalSegmentMember_label_en-US" xlink:label="lab_ck0001893262_SingleFamilyRentalSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Single-Family Rental Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_SingleFamilyRentalSegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_SingleFamilyRentalSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Single-Family Rental Segment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_SingleFamilyRentalSegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_SingleFamilyRentalSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_SingleFamilyRentalSegmentMember" xlink:to="lab_ck0001893262_SingleFamilyRentalSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared_01a10d86-a84e-7d46-ac3f-5a0496c4a443_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions declared</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Distributions Declared</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Distributions Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments_01a10d86-a8ce-7fb6-8878-506c7f86f223_terseLabel_en-US" xlink:label="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest costs on mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments_label_en-US" xlink:label="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Costs on Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments_documentation_en-US" xlink:label="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest costs on mandatorily redeemable instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:to="lab_ck0001893262_InterestCostsOnMandatorilyRedeemableInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_01a10d86-a7a0-7090-bfb7-b4d60a6062a0_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Principal Balance Outstanding</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_01a10d86-a7a0-7f9e-8bfe-39faf3c63ae7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase Facility</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_01a10d86-a7a0-71ea-836c-e04ce3ea8217_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_01a10d86-a7a0-7e5a-b08e-76c25c1f6766_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Class [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_01a10d86-a84e-7475-8289-a235ff738a4e_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_01a10d86-a7a0-7770-990d-53bd08593082_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_01a10d86-a7a0-7809-a6d0-9efd5e1a2bf0_negatedLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization" xlink:to="lab_us-gaap_DepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_01a10d86-a84e-70be-8af9-aba67922a89d_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_01a10d86-a7a0-7ee4-9b09-f7054c929986_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_01a10d86-a84e-70ab-9ba3-725fea3b4e5d_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares of common stock outstanding - diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesAssumed1_01a10d86-a84e-70e6-b504-ff715d924bce_terseLabel_en-US" xlink:label="lab_us-gaap_NotesAssumed1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption of mortgage note, net, in conjunction with acquisition of real estate</link:label>
    <link:label id="lab_us-gaap_NotesAssumed1_label_en-US" xlink:label="lab_us-gaap_NotesAssumed1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Assumed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesAssumed1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesAssumed1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesAssumed1" xlink:to="lab_us-gaap_NotesAssumed1" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StraightLineRentReceivable_01a10d86-a84e-7f54-bfdd-47f8f64c5d4f_terseLabel_en-US" xlink:label="lab_ck0001893262_StraightLineRentReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rent receivable</link:label>
    <link:label id="lab_ck0001893262_StraightLineRentReceivable_label_en-US" xlink:label="lab_ck0001893262_StraightLineRentReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight-line Rent Receivable</link:label>
    <link:label id="lab_ck0001893262_StraightLineRentReceivable_documentation_en-US" xlink:label="lab_ck0001893262_StraightLineRentReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Straight-line rent receivable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StraightLineRentReceivable" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StraightLineRentReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StraightLineRentReceivable" xlink:to="lab_ck0001893262_StraightLineRentReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_01a10d86-a7a0-7c5a-be66-ced9f9079683_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_label_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_01a10d86-a7a0-7c57-b64c-4a1215c38ee7_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition_01a10d86-a84e-7ed2-94e3-8891a163f4fb_terseLabel_en-US" xlink:label="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest acquired percentage</link:label>
    <link:label id="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition_label_en-US" xlink:label="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Interest Acquired in Asset Acquisition</link:label>
    <link:label id="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition_documentation_en-US" xlink:label="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of interest acquired in asset acquisition.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:to="lab_ck0001893262_PercentageOfInterestAcquiredInAssetAcquisition" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_01a10d86-a84e-7b8b-9a21-b35beb3326fe_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciable Life</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant, and Equipment, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassDMember_01a10d86-a7a0-7c1d-8256-abdf680db90c_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassDMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class D</link:label>
    <link:label id="lab_ck0001893262_CommonClassDMember_01a10d86-a7a0-7ad0-b428-28c25c0b10eb_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassDMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class D Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassDMember_01a10d86-a7a0-74c2-af69-07401cfda7ae_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassDMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class D</link:label>
    <link:label id="lab_ck0001893262_CommonClassDMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassDMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class D [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassDMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common class D.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassDMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassDMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonClassDMember" xlink:to="lab_ck0001893262_CommonClassDMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityTable_01a10d86-a84e-7469-a0c4-985a57a1037e_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Table]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityTable_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityTable" xlink:to="lab_us-gaap_LineOfCreditFacilityTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_terseLabel_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change</link:label>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_label_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_UndrlygSecurityMktPriceChngPct"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:to="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_01a10d86-a7a0-7883-af71-3e455ebf1bc1_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_01a10d86-a84e-75c5-a757-b3377cafc944_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_01a10d86-a84e-75d5-8e6a-b0b87ab702e5_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions payable</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TypeOfArrangementAxis_01a10d86-a84e-7e9f-9ec7-8129f30dc487_terseLabel_en-US" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative</link:label>
    <link:label id="lab_us-gaap_TypeOfArrangementAxis_label_en-US" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TypeOfArrangementAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TypeOfArrangementAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfArrangementAxis" xlink:to="lab_us-gaap_TypeOfArrangementAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CapitalCommitmentsFromInvestors_01a10d86-a7a0-732f-ab6c-4d0b8a9072ad_terseLabel_en-US" xlink:label="lab_ck0001893262_CapitalCommitmentsFromInvestors" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital commitments from investors</link:label>
    <link:label id="lab_ck0001893262_CapitalCommitmentsFromInvestors_label_en-US" xlink:label="lab_ck0001893262_CapitalCommitmentsFromInvestors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Commitments From Investors</link:label>
    <link:label id="lab_ck0001893262_CapitalCommitmentsFromInvestors_documentation_en-US" xlink:label="lab_ck0001893262_CapitalCommitmentsFromInvestors" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital commitments from investors.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CapitalCommitmentsFromInvestors" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CapitalCommitmentsFromInvestors"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CapitalCommitmentsFromInvestors" xlink:to="lab_ck0001893262_CapitalCommitmentsFromInvestors" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IndustrialFacilityMember_01a10d86-a8ce-7015-8c1f-608a9e5b267f_terseLabel_en-US" xlink:label="lab_ck0001893262_IndustrialFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial Facility</link:label>
    <link:label id="lab_ck0001893262_IndustrialFacilityMember_label_en-US" xlink:label="lab_ck0001893262_IndustrialFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Facility [Member]</link:label>
    <link:label id="lab_ck0001893262_IndustrialFacilityMember_documentation_en-US" xlink:label="lab_ck0001893262_IndustrialFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industrial Facility</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IndustrialFacilityMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IndustrialFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IndustrialFacilityMember" xlink:to="lab_ck0001893262_IndustrialFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember_01a10d86-a84e-743e-b8fa-f95445fbc05c_verboseLabel_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments (liability)</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember_01a10d86-a84e-732a-9312-a5e78a4a2da0_terseLabel_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember_label_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments [Member]</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember_documentation_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MandatorilyRedeemableInstrumentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:to="lab_ck0001893262_MandatorilyRedeemableInstrumentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_01a10d86-a84e-7bfd-aaf3-a01004060e33_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest_01a10d86-a84e-791d-9fd0-d90abb3a5010_negatedLabel_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition Recognized Identifiable Assets Acquired and Liabilities Assumed Contributions from Non-Controlling Interest</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisition recognized identifiable assets acquired and liabilities assumed contributions from non-controlling interest.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:to="lab_ck0001893262_AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContributionsFromNon-ControllingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandImprovementsMember_01a10d86-a84e-7eb2-bb16-010f1b74ef03_verboseLabel_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Site improvements - buildings and land</link:label>
    <link:label id="lab_us-gaap_LandImprovementsMember_label_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LandImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovementsMember" xlink:to="lab_us-gaap_LandImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_01a10d86-a84e-719a-9f89-3324421ccba7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation_01a10d86-a84e-71ca-b02f-85bbdc18e045_terseLabel_en-US" xlink:label="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-place lease and above market intangibles</link:label>
    <link:label id="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation_label_en-US" xlink:label="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">InPlace Lease and Above Market Intangible Purchase Price Allocation</link:label>
    <link:label id="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation_documentation_en-US" xlink:label="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">InPlace lease and above market intangible purchase price allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:to="lab_ck0001893262_InPlaceLeaseAndAboveMarketIntangiblePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_01a10d86-a84e-7d18-914b-7e4293b5f63c_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment on long-lived assets to be held and used</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Held and Used, Impairment Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ImpairmentOfLongLivedAssetsHeldForUse"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares_01a10d86-a84e-74b4-b588-445794b727a5_terseLabel_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares repurchased</link:label>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares_label_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchases of Mandatorily Redeemable Instruments, Shares</link:label>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares_documentation_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repurchases of mandatorily redeemable instruments, shares.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:to="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NetDistributionDeclared_01a10d86-a8ce-7995-939e-98644b81ea27_terseLabel_en-US" xlink:label="lab_ck0001893262_NetDistributionDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Distribution</link:label>
    <link:label id="lab_ck0001893262_NetDistributionDeclared_label_en-US" xlink:label="lab_ck0001893262_NetDistributionDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Distribution Declared</link:label>
    <link:label id="lab_ck0001893262_NetDistributionDeclared_documentation_en-US" xlink:label="lab_ck0001893262_NetDistributionDeclared" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net distribution declared.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NetDistributionDeclared" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NetDistributionDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NetDistributionDeclared" xlink:to="lab_ck0001893262_NetDistributionDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_01a10d86-a84e-73a2-b0ea-3fd2d83dc8fa_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Goodwill and Other [Abstract]</link:label>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Goodwill and Other [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_01a10d86-a7a0-7fa1-98d7-bad759303b53_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_us-gaap_FairValueInputsLevel1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableLeaseIncome_01a10d86-a84e-7267-88a3-3c984a11cf4b_terseLabel_en-US" xlink:label="lab_us-gaap_VariableLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable lease payments</link:label>
    <link:label id="lab_us-gaap_VariableLeaseIncome_label_en-US" xlink:label="lab_us-gaap_VariableLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Lease, Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableLeaseIncome" xlink:to="lab_us-gaap_VariableLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OperatingExpensesDueToAffiliates_01a10d86-a84e-7f8b-bc67-4befff292141_terseLabel_en-US" xlink:label="lab_ck0001893262_OperatingExpensesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses</link:label>
    <link:label id="lab_ck0001893262_OperatingExpensesDueToAffiliates_label_en-US" xlink:label="lab_ck0001893262_OperatingExpensesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating expenses, due to affiliates</link:label>
    <link:label id="lab_ck0001893262_OperatingExpensesDueToAffiliates_documentation_en-US" xlink:label="lab_ck0001893262_OperatingExpensesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating expenses, due to affiliates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OperatingExpensesDueToAffiliates" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OperatingExpensesDueToAffiliates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OperatingExpensesDueToAffiliates" xlink:to="lab_ck0001893262_OperatingExpensesDueToAffiliates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_01a10d86-a84e-72c7-92a7-8ff9015a2d61_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_01a10d86-a84e-78a6-9eb8-8a6a9d60df54_verboseLabel_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Area of real estate property</link:label>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_01a10d86-a84e-7975-807f-1007af1a7a33_terseLabel_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sq.Ft</link:label>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_label_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Area of Real Estate Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AreaOfRealEstateProperty" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AreaOfRealEstateProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AreaOfRealEstateProperty" xlink:to="lab_us-gaap_AreaOfRealEstateProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility_01a10d86-a84e-7790-a67b-01704098c5cb_negatedLabel_en-US" xlink:label="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of deferred financing costs</link:label>
    <link:label id="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility_label_en-US" xlink:label="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment Of Deferred Financing Costs On Mortgage Notes And Repurchase Facility</link:label>
    <link:label id="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility_documentation_en-US" xlink:label="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment of deferred financing costs on mortgage notes and repurchase facility.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:to="lab_ck0001893262_PaymentOfDeferredFinancingCostsOnMortgageNotesAndRepurchaseFacility" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput_01a10d86-a7a0-79e1-a709-f2af2126fa06_terseLabel_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement input</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput_label_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments, Measurement Input</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput_documentation_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:to="lab_ck0001893262_MandatorilyRedeemableInstrumentsMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestLineItems_01a10d86-a84f-78ac-b59b-4d67b22e5cd8_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Line Items]</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestLineItems_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RedeemableNoncontrollingInterestLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_terseLabel_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Executive Categories</link:label>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_label_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Executive Categories [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllExecutiveCategoriesMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllExecutiveCategoriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllExecutiveCategoriesMember" xlink:to="lab_ecd_AllExecutiveCategoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ValuationTechniqueDomain_01a10d86-a8ce-73d1-8324-e0206e382869_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Domain]</link:label>
    <link:label id="lab_us-gaap_ValuationTechniqueDomain_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ValuationTechniqueDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueDomain" xlink:to="lab_us-gaap_ValuationTechniqueDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember_01a10d86-a7a0-738a-bc6b-2daed05a47fe_terseLabel_en-US" xlink:label="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exit capitalization rate</link:label>
    <link:label id="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember_label_en-US" xlink:label="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Exit Capitalization Rate [Member]</link:label>
    <link:label id="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember_documentation_en-US" xlink:label="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Measurement Input, Exit Capitalization Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MeasurementInputExitCapitalizationRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:to="lab_ck0001893262_MeasurementInputExitCapitalizationRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_01a10d86-a84e-7203-8615-16a25dfaa05f_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Common stock repurchased</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_01a10d86-a84e-7c85-8bb1-5dbdd6f1b803_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock repurchased</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased and Retired During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MortgageNotesMember_01a10d86-a84e-776a-8cdd-c7b0c23104b6_terseLabel_en-US" xlink:label="lab_ck0001893262_MortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes</link:label>
    <link:label id="lab_ck0001893262_MortgageNotesMember_label_en-US" xlink:label="lab_ck0001893262_MortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Notes [Member]</link:label>
    <link:label id="lab_ck0001893262_MortgageNotesMember_documentation_en-US" xlink:label="lab_ck0001893262_MortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage notes.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MortgageNotesMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MortgageNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MortgageNotesMember" xlink:to="lab_ck0001893262_MortgageNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsSvcCstMember" xlink:to="lab_ecd_PnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties_01a10d86-a8ce-7d73-aaba-8f5f57ff0de8_terseLabel_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total purchase price</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisitions Purchase Price Allocation Of Real Estate Properties</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisitions purchase price allocation of real estate properties.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:to="lab_ck0001893262_AssetAcquisitionsPurchasePriceAllocationOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_01a10d86-a8ce-7920-85ea-a0ba5aa4ee85_periodStartLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at the beginning of the year</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_01a10d86-a8ce-7bc5-84e0-82344d93af12_periodEndLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Carrying Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock_01a10d86-a84e-71a9-b94c-0520249ecf41_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:to="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent_01a10d86-a8ce-76c1-b67d-b6cdc6ddea56_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent_label_en-US" xlink:label="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets Current and Noncurrent</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent_documentation_en-US" xlink:label="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets current and Noncurrent.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAssetsCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:to="lab_ck0001893262_OtherAssetsCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_01a10d86-a84e-7cc3-8ee9-e94d9da7cf54_terseLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseFacility_01a10d86-a84e-74a5-908a-750885b5d9e7_terseLabel_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseFacility" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from repurchase facility</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseFacility_label_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Repurchase Facility</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseFacility_documentation_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseFacility" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from repurchase facility.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ProceedsFromRepurchaseFacility" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ProceedsFromRepurchaseFacility"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ProceedsFromRepurchaseFacility" xlink:to="lab_ck0001893262_ProceedsFromRepurchaseFacility" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember_01a10d86-a84e-77b7-a190-6b97307f8a5d_terseLabel_en-US" xlink:label="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adviser</link:label>
    <link:label id="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember_label_en-US" xlink:label="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">J P Morgan Investment Management Incorporated [Member]</link:label>
    <link:label id="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember_documentation_en-US" xlink:label="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">J.P. Morgan investment management, incorporated.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_JPMorganInvestmentManagementIncorporatedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:to="lab_ck0001893262_JPMorganInvestmentManagementIncorporatedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment_01a10d86-a7a0-7df6-8a3c-4669cefedba0_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of position owned in real estate debt investment</link:label>
    <link:label id="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment_label_en-US" xlink:label="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Position Owned in Real Estate Debt Investment</link:label>
    <link:label id="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of position owned in real estate debt investment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:to="lab_ck0001893262_NumberOfPositionOwnedInRealEstateDebtInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OneBrooklynMember_01a10d86-a8ce-7fe4-a554-daa410cf21de_terseLabel_en-US" xlink:label="lab_ck0001893262_OneBrooklynMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">One Brooklyn</link:label>
    <link:label id="lab_ck0001893262_OneBrooklynMember_label_en-US" xlink:label="lab_ck0001893262_OneBrooklynMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">One Brooklyn [Member]</link:label>
    <link:label id="lab_ck0001893262_OneBrooklynMember_documentation_en-US" xlink:label="lab_ck0001893262_OneBrooklynMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">One brooklyn.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OneBrooklynMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OneBrooklynMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OneBrooklynMember" xlink:to="lab_ck0001893262_OneBrooklynMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TradingSecuritiesDebtAmortizedCost_01a10d86-a84e-7549-90cb-03f65564184d_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebtAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost basis</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesDebtAmortizedCost_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebtAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, Amortized Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingSecuritiesDebtAmortizedCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TradingSecuritiesDebtAmortizedCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesDebtAmortizedCost" xlink:to="lab_us-gaap_TradingSecuritiesDebtAmortizedCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_01a10d86-a84e-7ed8-94c9-097ca4501c29_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Computations of Basic and Diluted Net (Loss) Income per Share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_01a10d86-a84e-75c7-b647-7d970f744584_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_01a10d86-a84e-7f8d-858c-cff677a76eb9_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_01a10d86-a84e-7555-a93f-994758571862_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Real Estate-Related and Other Securities</link:label>
    <link:label id="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in Debt and Equity Securities and Other Trading Assets [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:to="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_01a10d86-a7a0-7a5c-be0c-0c93e4cf1b4f_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FixedRateResidentialMortgageMember_01a10d86-a84e-738b-9e76-7402375a279f_terseLabel_en-US" xlink:label="lab_us-gaap_FixedRateResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Rate</link:label>
    <link:label id="lab_us-gaap_FixedRateResidentialMortgageMember_label_en-US" xlink:label="lab_us-gaap_FixedRateResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Rate Residential Mortgage [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FixedRateResidentialMortgageMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FixedRateResidentialMortgageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixedRateResidentialMortgageMember" xlink:to="lab_us-gaap_FixedRateResidentialMortgageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_01a10d86-a84e-7a63-ad6e-6cde4cb07979_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions paid on common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrExpirationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrExpirationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrExpirationDate" xlink:to="lab_ecd_TrdArrExpirationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_01a10d86-a84f-71ea-a6f4-a7aa07be0f94_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_01a10d86-a84e-7dff-8416-5ca23cddd51d_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_us-gaap_InvestmentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsFairValueDisclosure" xlink:to="lab_us-gaap_InvestmentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateTable_01a10d86-a7a0-7abc-a337-db65cdeba0dd_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:label id="lab_us-gaap_RealEstateTable_label_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateTable" xlink:to="lab_us-gaap_RealEstateTable" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
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    <link:label id="lab_ck0001893262_NumberOfPositionOwnedCommercialMortgageBackedSecuritiesInvestment_01a10d86-a7a0-732c-b422-4e17c8211f64_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfPositionOwnedCommercialMortgageBackedSecuritiesInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of position owned commercial mortgage backed securities investment</link:label>
    <link:label id="lab_ck0001893262_NumberOfPositionOwnedCommercialMortgageBackedSecuritiesInvestment_label_en-US" xlink:label="lab_ck0001893262_NumberOfPositionOwnedCommercialMortgageBackedSecuritiesInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Position Owned Commercial Mortgage Backed Securities Investment</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_01a10d86-a84e-72c1-ae7a-d15863771481_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_01a10d86-a84e-757c-ab40-21f17bd2115d_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_01a10d86-a84e-75e5-a948-28c5edcc9ccb_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_01a10d86-a84e-7318-b6f7-40ac90c3d2cf_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
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    <link:label id="lab_us-gaap_BuildingMember_01a10d86-a84e-76c3-97b7-cda9179cfb7b_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings</link:label>
    <link:label id="lab_us-gaap_BuildingMember_label_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_01a10d86-a84e-7723-8efb-69875000c00f_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Outstanding Shares of Common Stock</link:label>
    <link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Common Stock Outstanding Roll Forward [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock"/>
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    <link:label id="lab_us-gaap_DividendsCommonStock_01a10d86-a8ce-782b-b268-364355532ad5_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions declared on common stock</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_01a10d86-a84e-7bd6-9332-c0aae1842d6c_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeTable_01a10d86-a84e-7d12-848a-2c09540e5203_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeTable_label_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTable" xlink:to="lab_us-gaap_DerivativeTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_01a10d86-a84e-782b-8602-4feac0dcd22b_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_01a10d86-a84e-7581-ae6c-2982af4dc161_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of common stock</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_01a10d86-a84e-7bc5-8eb2-5f04c82d74d5_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesAuthorized"/>
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    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_01a10d86-a7a0-75af-a256-510647fe3edc_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_01a10d86-a7a0-72e1-a6a6-d803a582f8ed_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyNet"/>
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    <link:label id="lab_ck0001893262_DeferredFinanceCostsNetForMortgageNotes_label_en-US" xlink:label="lab_ck0001893262_DeferredFinanceCostsNetForMortgageNotes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs, Net for Mortgage Notes</link:label>
    <link:label id="lab_ck0001893262_DeferredFinanceCostsNetForMortgageNotes_documentation_en-US" xlink:label="lab_ck0001893262_DeferredFinanceCostsNetForMortgageNotes" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred finance costs, net for mortgage notes.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DeferredFinanceCostsNetForMortgageNotes" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DeferredFinanceCostsNetForMortgageNotes"/>
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    <link:label id="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation_01a10d86-a7a0-7f31-95dd-ec0827b26334_terseLabel_en-US" xlink:label="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of equity interest to non-controlling interest</link:label>
    <link:label id="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation_label_en-US" xlink:label="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable non-controlling interest issued as settlement for performance participation allocation</link:label>
    <link:label id="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation_documentation_en-US" xlink:label="lab_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable non-controlling interest issued as settlement for performance participation allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RedeemableNon-ControllingInterestIssuedAsSettlementForPerformanceParticipationAllocation"/>
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    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_01a10d86-a7a0-7271-b1ee-92edd40c7847_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_01a10d86-a84e-7463-9d49-d840d1aa2cae_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Line Items]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentQuarterlyReport_01a10d86-a7a0-76f8-b913-f333e88905c4_terseLabel_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:label id="lab_dei_DocumentQuarterlyReport_label_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentQuarterlyReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentQuarterlyReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentQuarterlyReport" xlink:to="lab_dei_DocumentQuarterlyReport" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_01a10d86-a8ce-7a03-91c0-5f77b0d778c5_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_label_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:to="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentDomain_01a10d86-a84e-7b18-9aac-3e288e6bf9c4_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:label id="lab_us-gaap_SegmentDomain_label_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain" xlink:to="lab_us-gaap_SegmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassEMember_01a10d86-a84e-7d7a-9529-ff8214e7853b_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassEMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class E</link:label>
    <link:label id="lab_ck0001893262_CommonClassEMember_01a10d86-a84e-7d17-890a-3015f091e379_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassEMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class E Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassEMember_01a10d86-a84e-7481-a090-16616a04c611_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassEMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class E</link:label>
    <link:label id="lab_ck0001893262_CommonClassEMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassEMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class E [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassEMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common class E.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassEMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassEMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonClassEMember" xlink:to="lab_ck0001893262_CommonClassEMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_01a10d86-a84e-7704-af37-922ebb549b92_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash, cash equivalents and restricted cash, at the beginning of the period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_01a10d86-a84e-7d33-af98-5a8e19fc8ab7_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash, cash equivalents and restricted cash, at the end of the period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfRetailProperty_01a10d86-a84e-74c5-b3ed-bc839ea3ec66_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfRetailProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of retail property</link:label>
    <link:label id="lab_ck0001893262_NumberOfRetailProperty_label_en-US" xlink:label="lab_ck0001893262_NumberOfRetailProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Retail Property</link:label>
    <link:label id="lab_ck0001893262_NumberOfRetailProperty_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfRetailProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of retail property.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfRetailProperty" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfRetailProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfRetailProperty" xlink:to="lab_ck0001893262_NumberOfRetailProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockExpense_01a10d86-a84e-750b-aaac-5dbe3d532ec3_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of restricted stock grants</link:label>
    <link:label id="lab_us-gaap_RestrictedStockExpense_label_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock or Unit Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedStockExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockExpense" xlink:to="lab_us-gaap_RestrictedStockExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentOwnedAtCost_01a10d86-a84e-726c-befb-4fd1086db8e2_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentOwnedAtCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost Basis</link:label>
    <link:label id="lab_us-gaap_InvestmentOwnedAtCost_label_en-US" xlink:label="lab_us-gaap_InvestmentOwnedAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Owned, Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentOwnedAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentOwnedAtCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedAtCost" xlink:to="lab_us-gaap_InvestmentOwnedAtCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_01a10d86-a84e-7151-861d-0aaee8bf45de_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage Notes, Repurchase Facility and Unsecured Revolving Credit Facility</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable_01a10d86-a84e-7ca2-929a-c0f8226d4cbe_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loss attributable to non-controlling interests in consolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Redeemable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable" xlink:to="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure_01a10d86-a84e-7134-b1d7-bb0f195720a9_terseLabel_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure_label_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments, Fair Value Disclosure</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure_documentation_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:to="lab_ck0001893262_MandatorilyRedeemableInstrumentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_01a10d86-a7a0-7a8c-80b8-bb5b46f83948_terseLabel_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments</link:label>
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_label_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:to="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_01a10d86-a84e-7d3b-b1e3-62fbb45ce997_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs, net</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredFinanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet" xlink:to="lab_us-gaap_DeferredFinanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate_01a10d86-a84e-7efb-8386-83f790add5d2_terseLabel_en-US" xlink:label="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued stockholder servicing fee due to affiliate</link:label>
    <link:label id="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate_label_en-US" xlink:label="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Stockholder Servicing Fee Due to Affiliate</link:label>
    <link:label id="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate_documentation_en-US" xlink:label="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued stockholder servicing fee due to affiliate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedStockholderServicingFeeDueToAffiliate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:to="lab_ck0001893262_AccruedStockholderServicingFeeDueToAffiliate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_01a10d86-a7a0-79de-bc77-593178c9b463_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_label_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoActuallyPaidCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoActuallyPaidCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoActuallyPaidCompAmt" xlink:to="lab_ecd_PeoActuallyPaidCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_01a10d86-a7a0-7892-a022-1c13e6207c3f_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeDomain" xlink:to="lab_us-gaap_MeasurementInputTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit_01a10d86-a8ce-703d-86bb-e0bda2780518_terseLabel_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual stockholder servicing fee percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit_label_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Stock Holder Servicing Fee Percentage Of Gross Proceeds Limit</link:label>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit_documentation_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual stock holder servicing fee percentage of gross proceeds limit.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:to="lab_ck0001893262_AnnualStockHolderServicingFeePercentageOfGrossProceedsLimit" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
    <link:label id="lab_ecd_TrdArrAdoptionDate_label_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Adoption Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrAdoptionDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrAdoptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrAdoptionDate" xlink:to="lab_ecd_TrdArrAdoptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_01a10d86-a84f-72cd-b19b-ae978b4dca39_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt_01a10d86-a84e-7c34-9046-43e644bbff75_verboseLabel_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income from investments in real estate debt</link:label>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt_label_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Loss From Investment In Real Estate Debt</link:label>
    <link:label id="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt_documentation_en-US" xlink:label="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income loss from investment in real estate debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncomeLossFromInvestmentInRealEstateDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:to="lab_ck0001893262_IncomeLossFromInvestmentInRealEstateDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_01a10d86-a84e-70f3-b8e5-0bdc613b0a18_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_01a10d86-a84e-7275-8054-63c41b9e120e_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other expense, net</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpense" xlink:to="lab_us-gaap_NonoperatingIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_01a10d86-a84e-791d-8ca5-ffeb494e1b3d_terseLabel_en-US" xlink:label="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_label_en-US" xlink:label="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Four</link:label>
    <link:label id="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_documentation_en-US" xlink:label="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finite-lived intangible asset, expected amortization, after year four.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:to="lab_ck0001893262_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_01a10d86-a84e-7725-a626-4548d891c9cf_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockPurchased_01a10d86-a7a0-7d0f-a781-498befde364a_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockPurchased" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock purchased</link:label>
    <link:label id="lab_ck0001893262_CommonStockPurchased_label_en-US" xlink:label="lab_ck0001893262_CommonStockPurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Purchased</link:label>
    <link:label id="lab_ck0001893262_CommonStockPurchased_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockPurchased" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock Purchased</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockPurchased" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockPurchased"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockPurchased" xlink:to="lab_ck0001893262_CommonStockPurchased" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut_01a10d86-a84e-78f9-a3f6-156fc6cd016e_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock issued</link:label>
    <link:label id="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut_label_en-US" xlink:label="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Issued, Net Of Conversions In And (Conversions Out)</link:label>
    <link:label id="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock issued, net of conversions in and (conversions out).</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:to="lab_ck0001893262_CommonStockIssuedNetOfConversionsInAndConversionsOut" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_01a10d86-a7a0-7112-bee1-702068fc3f94_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureAbstract_01a10d86-a84e-76ba-95d2-5fcf21eb981e_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Liabilities Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesDisclosureAbstract" xlink:to="lab_us-gaap_OtherLiabilitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock_01a10d86-a7a0-7488-9356-ac13649eeb1c_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Real Estate</link:label>
    <link:label id="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock_label_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in Real Estate [Policy Text Block]</link:label>
    <link:label id="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment in Real Estate Policy Text Block.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentInRealEstatePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:to="lab_ck0001893262_InvestmentInRealEstatePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_01a10d86-a84e-7d71-b63c-492d89976d91_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ReimbursementOfOperatingExpenses_01a10d86-a8ce-7856-95a2-41590e7cadda_terseLabel_en-US" xlink:label="lab_ck0001893262_ReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reimbursement of operating expenses</link:label>
    <link:label id="lab_ck0001893262_ReimbursementOfOperatingExpenses_label_en-US" xlink:label="lab_ck0001893262_ReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reimbursement Of Operating Expenses</link:label>
    <link:label id="lab_ck0001893262_ReimbursementOfOperatingExpenses_documentation_en-US" xlink:label="lab_ck0001893262_ReimbursementOfOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reimbursement Of Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ReimbursementOfOperatingExpenses" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ReimbursementOfOperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ReimbursementOfOperatingExpenses" xlink:to="lab_ck0001893262_ReimbursementOfOperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember_01a10d86-a84e-7b6f-b7d2-64c2b0442a2c_terseLabel_en-US" xlink:label="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class D, I, S and T Units of Operating Partnership</link:label>
    <link:label id="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember_label_en-US" xlink:label="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class D, I, S and T Units of Operating Partnership [Member]</link:label>
    <link:label id="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember_documentation_en-US" xlink:label="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class D, I, S and T Units of operating partnership.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:to="lab_ck0001893262_ClassDISAndTUnitsOfOperatingPartnershipMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeOperating_01a10d86-a84e-7179-bd47-1a2d05d737ff_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeOperating_label_en-US" xlink:label="lab_us-gaap_InterestIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestIncomeOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeOperating" xlink:to="lab_us-gaap_InterestIncomeOperating" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount_01a10d86-a84e-7a97-8474-220e84b2d82d_terseLabel_en-US" xlink:label="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face Amount</link:label>
    <link:label id="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount_label_en-US" xlink:label="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities Trading And Equity Securities Fv Ni Face Amount</link:label>
    <link:label id="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount_documentation_en-US" xlink:label="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt securities trading and equity securities fv ni face amount.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:to="lab_ck0001893262_DebtSecuritiesTradingAndEquitySecuritiesFvNiFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfCapitalizationLineItems_01a10d86-a84e-735a-a4ea-254f756a4a18_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCapitalizationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Capitalization [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfCapitalizationLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCapitalizationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Capitalization [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCapitalizationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfCapitalizationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCapitalizationLineItems" xlink:to="lab_us-gaap_ScheduleOfCapitalizationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_TheElmsteadMember_01a10d86-a84e-7037-ae20-d022efd3c1f8_terseLabel_en-US" xlink:label="lab_ck0001893262_TheElmsteadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">The Elmstead</link:label>
    <link:label id="lab_ck0001893262_TheElmsteadMember_label_en-US" xlink:label="lab_ck0001893262_TheElmsteadMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Elmstead [Member]</link:label>
    <link:label id="lab_ck0001893262_TheElmsteadMember_documentation_en-US" xlink:label="lab_ck0001893262_TheElmsteadMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Elmstead.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_TheElmsteadMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_TheElmsteadMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_TheElmsteadMember" xlink:to="lab_ck0001893262_TheElmsteadMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_01a10d86-a84e-76e2-8a58-fd0036e94612_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensionTerm_01a11d43-34ea-7921-8407-6da7fb05d73d_terseLabel_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable extension term</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensionTerm_label_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Extension Term</link:label>
    <link:label id="lab_ck0001893262_FinancingReceivableExtensionTerm_documentation_en-US" xlink:label="lab_ck0001893262_FinancingReceivableExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable Extension Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FinancingReceivableExtensionTerm" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FinancingReceivableExtensionTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FinancingReceivableExtensionTerm" xlink:to="lab_ck0001893262_FinancingReceivableExtensionTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_01a10d86-a84e-7b1c-9cfe-d0e2dfb91f01_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_01a10d86-a84e-7170-90b3-d968a079669a_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental revenue</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_01a10d86-a84e-76f7-99e8-0f1b2a713fc9_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Rental revenue</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputExpectedDividendRateMember_01a10d86-a84e-7685-8002-a7762627d148_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market yield</link:label>
    <link:label id="lab_us-gaap_MeasurementInputExpectedDividendRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Expected Dividend Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputExpectedDividendRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:to="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock_01a10d86-a84f-7e9b-aa1d-9c53baca16b0_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock_label_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Text Block]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAssetsAndLiabilitiesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:to="lab_ck0001893262_OtherAssetsAndLiabilitiesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_01a10d86-a7a0-77a3-9633-c9964132a06c_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_WeightedAverageMember_01a10d86-a84e-7ce8-8649-0609ca9efd11_terseLabel_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average</link:label>
    <link:label id="lab_srt_WeightedAverageMember_label_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_WeightedAverageMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WeightedAverageMember" xlink:to="lab_srt_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustableRateResidentialMortgageMember_01a10d86-a7a0-76ce-ba28-9e2d5d1c8172_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustableRateResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate</link:label>
    <link:label id="lab_us-gaap_AdjustableRateResidentialMortgageMember_label_en-US" xlink:label="lab_us-gaap_AdjustableRateResidentialMortgageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustable Rate Residential Mortgage [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustableRateResidentialMortgageMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustableRateResidentialMortgageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustableRateResidentialMortgageMember" xlink:to="lab_us-gaap_AdjustableRateResidentialMortgageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_01a10d86-a84e-7305-943f-6f9a597fd7c9_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CorporateNonSegmentMember_01a10d86-a7a0-7550-a101-c4c05a338df6_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other (corporate)</link:label>
    <link:label id="lab_us-gaap_CorporateNonSegmentMember_label_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CorporateNonSegmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CorporateNonSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateNonSegmentMember" xlink:to="lab_us-gaap_CorporateNonSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_01a10d86-a7a0-713a-84fa-9f6e8272486d_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityAbstract_01a10d86-a7a0-7754-bf5c-b9e4acc6de44_terseLabel_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityAbstract" xlink:to="lab_us-gaap_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_label_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:to="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_01a10d86-a84e-7740-aef4-72224afc4883_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties_01a10d86-a84e-7646-a984-03c5fa50e008_totalLabel_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total purchase price</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition Purchase Price Allocation of Real Estate Properties</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisition purchase price allocation of real estate properties.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:to="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_01a10d86-a7a0-7ecb-9938-cf0a6e1d728a_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock_01a10d86-a84e-7fdd-abda-d7b81bb044f8_terseLabel_en-US" xlink:label="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Net (Loss) Income and Weighted Average Number of Shares Outstanding</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock_label_en-US" xlink:label="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Net Income Loss And Weighted Average Number Of Shares [Table Text Block]</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of net income loss and weighted average number of shares.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:to="lab_ck0001893262_ScheduleOfNetIncomeLossAndWeightedAverageNumberOfSharesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_01a10d86-a84e-7408-b535-500f3543692c_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_01a10d86-a8ce-73b9-9051-84445387ad5a_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_01a10d86-a84e-799d-9c6b-2719317b1a3a_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipAxis_01a10d86-a84f-7527-958c-f30dddf7b8c1_terseLabel_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:label id="lab_srt_OwnershipAxis_label_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipAxis" xlink:to="lab_srt_OwnershipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DistributionsToNonControllingInterests_01a10d86-a84f-763d-bf5b-ff0c830d9dbf_negatedLabel_en-US" xlink:label="lab_ck0001893262_DistributionsToNonControllingInterests" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_ck0001893262_DistributionsToNonControllingInterests_label_en-US" xlink:label="lab_ck0001893262_DistributionsToNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_ck0001893262_DistributionsToNonControllingInterests_documentation_en-US" xlink:label="lab_ck0001893262_DistributionsToNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DistributionsToNonControllingInterests" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DistributionsToNonControllingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DistributionsToNonControllingInterests" xlink:to="lab_ck0001893262_DistributionsToNonControllingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DebtInstrumentDiscountNet_01a10d86-a84e-7c68-b220-57d787b83f08_negatedLabel_en-US" xlink:label="lab_ck0001893262_DebtInstrumentDiscountNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Mortgage discount, net</link:label>
    <link:label id="lab_ck0001893262_DebtInstrumentDiscountNet_label_en-US" xlink:label="lab_ck0001893262_DebtInstrumentDiscountNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Discount, Net</link:label>
    <link:label id="lab_ck0001893262_DebtInstrumentDiscountNet_documentation_en-US" xlink:label="lab_ck0001893262_DebtInstrumentDiscountNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt instrument discount net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DebtInstrumentDiscountNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DebtInstrumentDiscountNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DebtInstrumentDiscountNet" xlink:to="lab_ck0001893262_DebtInstrumentDiscountNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockValueAuthorized_01a10d86-a8ce-7f40-9921-129e545ae353_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized, amount</link:label>
    <link:label id="lab_ck0001893262_CommonStockValueAuthorized_label_en-US" xlink:label="lab_ck0001893262_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Value Authorized</link:label>
    <link:label id="lab_ck0001893262_CommonStockValueAuthorized_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock value authorized.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockValueAuthorized" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockValueAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockValueAuthorized" xlink:to="lab_ck0001893262_CommonStockValueAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_01a10d86-a84e-712a-964b-66ef08be4561_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV</link:label>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_01a10d86-a84e-7bfa-a1a1-8842aa4e606b_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_01a10d86-a8ce-75fd-a462-bb9141466b73_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome_01a10d86-a84f-7c6f-bcf3-95263e7e94f2_negatedLabel_en-US" xlink:label="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Below-market lease intangibles</link:label>
    <link:label id="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome_label_en-US" xlink:label="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase price allocation Deferred Rental Income</link:label>
    <link:label id="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome_documentation_en-US" xlink:label="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase price allocation deferred rental income.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PurchasePriceAllocationDeferredRentalIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:to="lab_ck0001893262_PurchasePriceAllocationDeferredRentalIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_01a10d86-a84e-710b-935f-4b28ce1c9d75_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_label_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Building and Building Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:to="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_01a10d86-a8ce-75e9-8671-b01c1cd13c07_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Coupon</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_01a10d86-a8ce-7d6d-afeb-1b6bb8277e92_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate, variable</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt_01a10d86-a84e-79a6-b0e8-cffc780f7a35_totalLabel_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net purchase price</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition Purchase Price Allocation of Real Estate Properties Acquired and Assumed Debt</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisition recognized Identifiable real estate properties acquired and assumed debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:to="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfRealEstatePropertiesAcquiredAndAssumedDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts_01a10d86-a84e-7866-8daa-54f507e2062c_terseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption value adjustment</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Unrealized Loss Included In Interest Costs</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value measurement with unobservable inputs reconciliation recurring basis liability unrealized loss included in interest costs.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityUnrealizedLossIncludedInInterestCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDividendsPayableTextBlock_01a10d86-a84f-7bc1-ba03-9247f9b29ed0_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDividendsPayableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Distributions Declared for Shares of Each Applicable Class of Common Stock</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDividendsPayableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDividendsPayableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Dividends Payable [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDividendsPayableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDividendsPayableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDividendsPayableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDividendsPayableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_01a10d86-a8ce-7303-830c-47748a39f948_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateDomain_01a10d86-a84e-70ff-b2e6-ec3ab767144f_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableRateDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain" xlink:to="lab_us-gaap_VariableRateDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationTable_01a10d86-a8ce-7aff-bb99-acb8689b0a42_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationTable" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationTable" xlink:to="lab_dei_DocumentInformationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllIndividualsMember_terseLabel_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Individuals</link:label>
    <link:label id="lab_ecd_AllIndividualsMember_label_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Individuals [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllIndividualsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllIndividualsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllIndividualsMember" xlink:to="lab_ecd_AllIndividualsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_01a10d86-a84e-7b06-94e0-b3fe8393fcfc_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid_01a10d86-a84e-7ac5-8271-2d0d50b0fb4a_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Reclassify to distributions payable/paid</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Reclassify To Distribution Payable Or Paid</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Reclassify To Distribution Payable Or Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetReclassifyToDistributionPayableOrPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems_01a10d86-a7a0-7a9d-b0e4-f55b7ced8bcf_terseLabel_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary Of Significant Accounting Policies [Line Items]</link:label>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems_label_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summary Of Significant Accounting Policies [Line Items]</link:label>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems_documentation_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Summary of significant accounting policies.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:href="ck0001893262-20260930.xsd#ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:to="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_01a10d86-a84e-7e03-9aa9-5456cdd3e281_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFairValue" xlink:to="lab_us-gaap_DebtInstrumentFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_01a10d86-a84e-7d6e-9235-722db3e481a2_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-market lease amortization</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:to="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryIndName" xlink:to="lab_ecd_ForgoneRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_01a10d86-a7a0-7990-8a74-d434a2069c98_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled_01a10d86-a7a0-7644-9123-7a2a34678dc3_terseLabel_en-US" xlink:label="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfulfilled repurchase requests (in shares)</link:label>
    <link:label id="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled_label_en-US" xlink:label="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program Number Of Shares Requested For Repurchase Unfulfilled</link:label>
    <link:label id="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled_documentation_en-US" xlink:label="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program Number Of Shares Requested For Repurchase Unfulfilled.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:to="lab_ck0001893262_StockRepurchaseProgramNumberOfSharesRequestedForRepurchaseUnfulfilled" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties_01a10d86-a84e-71ac-bd0c-4ddc282d492e_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of owned single family rental properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties_label_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Owned Single Family Rental Properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Owned Single Family Rental Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfOwnedSingleFamilyRentalProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:to="lab_ck0001893262_NumberOfOwnedSingleFamilyRentalProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_01a10d86-a84e-7224-af5c-d8c04c76154a_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_01a10d86-a7a0-7539-b746-fd0425096376_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_01a10d86-a7a0-73dd-af6a-64618c2a35c9_terseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember_01a10d86-a7a0-7113-8633-304d80b3b9ff_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">SOFR Rate</link:label>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember_label_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" xlink:to="lab_us-gaap_SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment_01a10d86-a84e-74e5-befd-6936089e120e_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Redemption value adjustment</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Redemption Value Adjustment</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Redemption Value Adjustment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRedemptionValueAdjustment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentIncomeNet_01a10d86-a84f-7445-a447-4aaf8a99d106_totalLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeNet_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentIncomeNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeNet" xlink:to="lab_us-gaap_InvestmentIncomeNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests_01a10d86-a84e-7223-864e-51147820f7ab_terseLabel_en-US" xlink:label="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued distributions</link:label>
    <link:label id="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests_label_en-US" xlink:label="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Distributions To Stockholders And Non Controlling Interests</link:label>
    <link:label id="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests_documentation_en-US" xlink:label="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued distributions to stockholders and non controlling interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:to="lab_ck0001893262_AccruedDistributionsToStockholdersAndNonControllingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_01a10d86-a84e-7a84-a018-306573b9eb55_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Segments</link:label>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Segments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember" xlink:to="lab_us-gaap_OperatingSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared_01a10d86-a84e-7455-ac27-9cd7b8623ed8_terseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions declared</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Distributions Declared</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value measurement with unobservable inputs reconciliation recurring basis liability distributions declared.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityDistributionsDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent_01a10d86-a84e-7c5e-ac85-9105fe10b18f_terseLabel_en-US" xlink:label="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable, accrued expenses and other liabilities</link:label>
    <link:label id="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent_label_en-US" xlink:label="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable Accrued Expenses And Other Liabilities Current And Non Current</link:label>
    <link:label id="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent_documentation_en-US" xlink:label="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts payable accrued expenses and other liabilities current and non current.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:to="lab_ck0001893262_AccountsPayableAccruedExpensesAndOtherLiabilitiesCurrentAndNonCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities_01a10d86-a8ce-7507-b3e3-cdbbf418f0b0_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Amortization of discount on real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities_label_en-US" xlink:label="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization Of Discount On Real Estate-Related And Other Securities</link:label>
    <link:label id="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities_documentation_en-US" xlink:label="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization Of Discount On Real Estate-Related And Other Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:to="lab_ck0001893262_AmortizationOfDiscountOnRealEstateRelatedAndOtherSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseNonoperating_01a10d86-a7a0-7737-92ae-0ffbe958fbd0_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseNonoperating" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseNonoperating_label_en-US" xlink:label="lab_us-gaap_InterestExpenseNonoperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Nonoperating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseNonoperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseNonoperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseNonoperating" xlink:to="lab_us-gaap_InterestExpenseNonoperating" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems_01a10d86-a7a0-7021-88f2-27a192cbb082_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Line Items]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems_label_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Line Items]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems_documentation_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAssetsAndLiabilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:to="lab_ck0001893262_OtherAssetsAndLiabilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate_01a10d86-a84e-7499-b3d3-849dac149d48_negatedLabel_en-US" xlink:label="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Principal repayments of mortgage notes and debt secured by real estate</link:label>
    <link:label id="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate_label_en-US" xlink:label="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Repayments of Mortgage Notes and Debt Secured by Real Estate</link:label>
    <link:label id="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate_documentation_en-US" xlink:label="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal repayments of mortgage notes and debt secured by real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:to="lab_ck0001893262_PrincipalRepaymentsOfMortgageNotesAndDebtSecuredByRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_01a10d86-a84e-77eb-82cc-790d3fd675a8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
    <link:label id="lab_ecd_PeoMember_label_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoMember" xlink:to="lab_ecd_PeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_01a10d86-a8ce-7111-b648-74d54b6e3ebf_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates_01a10d86-a84e-7023-b9e7-51b5695eff94_terseLabel_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization and offering costs</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates_label_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization and Offering Costs Due to Affiliates</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates_documentation_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Organization and offering costs due to affiliates.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OrganizationAndOfferingCostsDueToAffiliates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:to="lab_ck0001893262_OrganizationAndOfferingCostsDueToAffiliates" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract_01a10d86-a7a0-759b-8a23-09e80b893d18_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Abstract]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract_label_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Abstract]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract_documentation_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAssetsAndLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:to="lab_ck0001893262_OtherAssetsAndLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses_01a10d86-a84e-7147-87d2-f1775e224fb1_terseLabel_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period for reimbursement of advance expenses</link:label>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses_label_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period For Reimbursement Of Advance Expenses</link:label>
    <link:label id="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses_documentation_en-US" xlink:label="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period to reimburse the advisor for all advanced organization and offering expenses following the one year anniversary of the date.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PeriodForReimbursementOfAdvanceExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:to="lab_ck0001893262_PeriodForReimbursementOfAdvanceExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassXMember_01a10d86-a84e-7b83-8381-8777b630579e_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class X</link:label>
    <link:label id="lab_ck0001893262_CommonClassXMember_01a10d86-a84e-7397-8221-7b571f80505e_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassXMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class X Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassXMember_01a10d86-a84e-7c1b-8e71-487c2c390636_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassXMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class X</link:label>
    <link:label id="lab_ck0001893262_CommonClassXMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class X [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassXMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class X Shares.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassXMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassXMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonClassXMember" xlink:to="lab_ck0001893262_CommonClassXMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RetailSegmentMember_01a10d86-a84e-7d27-a0c0-33c56d6188dc_verboseLabel_en-US" xlink:label="lab_ck0001893262_RetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_ck0001893262_RetailSegmentMember_label_en-US" xlink:label="lab_ck0001893262_RetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_RetailSegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_RetailSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retail Segment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RetailSegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RetailSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RetailSegmentMember" xlink:to="lab_ck0001893262_RetailSegmentMember" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems"/>
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    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_01a10d86-a84e-7fac-9ee8-bc4a345df324_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAccountsPayableAndAccruedLiabilities_01a10d86-a84e-77a8-aa15-7ef614378a4c_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherAccountsPayableAndAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAccountsPayableAndAccruedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:to="lab_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RealizedLossOnRealEstate_01a10d86-a8ce-7393-aa29-64440e4f992a_terseLabel_en-US" xlink:label="lab_ck0001893262_RealizedLossOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized gain on sale of real estate</link:label>
    <link:label id="lab_ck0001893262_RealizedLossOnRealEstate_label_en-US" xlink:label="lab_ck0001893262_RealizedLossOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Loss On Real Estate</link:label>
    <link:label id="lab_ck0001893262_RealizedLossOnRealEstate_documentation_en-US" xlink:label="lab_ck0001893262_RealizedLossOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Realized Loss On Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RealizedLossOnRealEstate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RealizedLossOnRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RealizedLossOnRealEstate" xlink:to="lab_ck0001893262_RealizedLossOnRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_01a10d86-a84e-75c8-8435-4ec2fdac1355_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpenses_01a10d86-a84e-7035-b8da-d7d0fa6eb2e7_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpenses_01a10d86-a84e-7708-b894-b2bece2fd693_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpenses_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_01a10d86-a84e-7e90-85f5-26234e599384_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Revolving Loan</link:label>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract_01a10d86-a84e-7657-afcd-eb5fd581f11d_terseLabel_en-US" xlink:label="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in assets and liabilities:</link:label>
    <link:label id="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract_label_en-US" xlink:label="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Assets and Liabilities [Abstract]</link:label>
    <link:label id="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract_documentation_en-US" xlink:label="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:to="lab_ck0001893262_IncreaseDecreaseInAssetsAndLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AnnualHurdlePercentage_01a10d86-a7a0-7e5a-8a71-fa94bb6ae090_terseLabel_en-US" xlink:label="lab_ck0001893262_AnnualHurdlePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual hurdle percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualHurdlePercentage_label_en-US" xlink:label="lab_ck0001893262_AnnualHurdlePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Hurdle Percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualHurdlePercentage_documentation_en-US" xlink:label="lab_ck0001893262_AnnualHurdlePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual hurdle percentage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AnnualHurdlePercentage" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AnnualHurdlePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AnnualHurdlePercentage" xlink:to="lab_ck0001893262_AnnualHurdlePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_01a10d86-a84e-7bb3-a044-4bff14950733_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompRecoveryTable_terseLabel_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery</link:label>
    <link:label id="lab_ecd_ErrCompRecoveryTable_label_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompRecoveryTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompRecoveryTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompRecoveryTable" xlink:to="lab_ecd_ErrCompRecoveryTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DistributionReinvestmentPlanMember_01a10d86-a84e-7478-9fd4-3410fdd37c93_terseLabel_en-US" xlink:label="lab_ck0001893262_DistributionReinvestmentPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution Reinvestment Plan</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestmentPlanMember_label_en-US" xlink:label="lab_ck0001893262_DistributionReinvestmentPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Reinvestment Plan [Member]</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestmentPlanMember_documentation_en-US" xlink:label="lab_ck0001893262_DistributionReinvestmentPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution reinvestment plan.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DistributionReinvestmentPlanMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DistributionReinvestmentPlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DistributionReinvestmentPlanMember" xlink:to="lab_ck0001893262_DistributionReinvestmentPlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_01a10d86-a8ce-768b-aabf-8ca6e316e3fb_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_01a10d86-a7a0-759f-822e-090d8eb64e15_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_01a10d86-a84e-701c-9851-c54899c7061a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_01a10d86-a84e-7a04-9e3c-6c2372d9ed53_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_01a10d86-a84e-7053-8bcf-0ea73d0d5ab7_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgDiscLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgDiscLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgDiscLineItems" xlink:to="lab_ecd_AwardTmgDiscLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ManagementFees_01a10d86-a84e-7f52-acad-fbf4639c86a3_terseLabel_en-US" xlink:label="lab_ck0001893262_ManagementFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_ck0001893262_ManagementFees_label_en-US" xlink:label="lab_ck0001893262_ManagementFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees</link:label>
    <link:label id="lab_ck0001893262_ManagementFees_documentation_en-US" xlink:label="lab_ck0001893262_ManagementFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management fees.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ManagementFees" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ManagementFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ManagementFees" xlink:to="lab_ck0001893262_ManagementFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_01a10d86-a84e-77a3-883b-9236740b70c3_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) per share of common stock &#8211; diluted (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_01a10d86-a84e-77c8-ac30-1bf261254dbd_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted net income (loss) per share of common stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCurrentReportingStatus_01a10d86-a84e-7b66-9e01-7683b69849ab_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_01a10d86-a84e-7a7e-91f2-4195ad6e7340_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_01a10d86-a84e-7cc0-aeea-ad18a9fd6eb5_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnInvestments_01a10d86-a84e-7b62-a1b0-b7acf6766e40_terseLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnInvestments_01a10d86-a84e-7cb5-8987-b0b127ca1bfc_verboseLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unrealized (loss) gain</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnInvestments_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnInvestments" xlink:to="lab_us-gaap_UnrealizedGainLossOnInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityLineItems_01a10d86-a84e-7fad-9c07-89f58e2fb01f_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Line Items]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityLineItems_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityLineItems" xlink:to="lab_us-gaap_LineOfCreditFacilityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ContributionsFromNonControllingInterests_01a10d86-a84e-7830-a0aa-b5a2a07e8763_terseLabel_en-US" xlink:label="lab_ck0001893262_ContributionsFromNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_ck0001893262_ContributionsFromNonControllingInterests_label_en-US" xlink:label="lab_ck0001893262_ContributionsFromNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions From Non-Controlling Interests</link:label>
    <link:label id="lab_ck0001893262_ContributionsFromNonControllingInterests_documentation_en-US" xlink:label="lab_ck0001893262_ContributionsFromNonControllingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contributions From Non-Controlling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ContributionsFromNonControllingInterests" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ContributionsFromNonControllingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ContributionsFromNonControllingInterests" xlink:to="lab_ck0001893262_ContributionsFromNonControllingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LineOfCreditExtensionOptions_01a10d86-a7a0-7c74-8d4a-1884d0f26cd9_terseLabel_en-US" xlink:label="lab_ck0001893262_LineOfCreditExtensionOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension options</link:label>
    <link:label id="lab_ck0001893262_LineOfCreditExtensionOptions_label_en-US" xlink:label="lab_ck0001893262_LineOfCreditExtensionOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit, Extension Options</link:label>
    <link:label id="lab_ck0001893262_LineOfCreditExtensionOptions_documentation_en-US" xlink:label="lab_ck0001893262_LineOfCreditExtensionOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line of Credit, Extension Options</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LineOfCreditExtensionOptions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LineOfCreditExtensionOptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LineOfCreditExtensionOptions" xlink:to="lab_ck0001893262_LineOfCreditExtensionOptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_01a10d86-a84e-7bb2-bddb-11ea7b175d4a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Line Items]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_01a10d86-a84e-7483-b034-ce9dc2660d67_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DueToAffiliate_01a10d86-a84e-7628-9249-cc1a580feb60_terseLabel_en-US" xlink:label="lab_ck0001893262_DueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due to affiliates</link:label>
    <link:label id="lab_ck0001893262_DueToAffiliate_label_en-US" xlink:label="lab_ck0001893262_DueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due To Affiliate</link:label>
    <link:label id="lab_ck0001893262_DueToAffiliate_documentation_en-US" xlink:label="lab_ck0001893262_DueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Due to affiliate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DueToAffiliate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DueToAffiliate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DueToAffiliate" xlink:to="lab_ck0001893262_DueToAffiliate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RedemptionsPayable_01a10d86-a8ce-7577-9d4d-768c76b07fef_terseLabel_en-US" xlink:label="lab_ck0001893262_RedemptionsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemptions payable</link:label>
    <link:label id="lab_ck0001893262_RedemptionsPayable_label_en-US" xlink:label="lab_ck0001893262_RedemptionsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redemptions Payable</link:label>
    <link:label id="lab_ck0001893262_RedemptionsPayable_documentation_en-US" xlink:label="lab_ck0001893262_RedemptionsPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redemptions payable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RedemptionsPayable" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RedemptionsPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RedemptionsPayable" xlink:to="lab_ck0001893262_RedemptionsPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_01a10d86-a84e-78f7-af1f-3d9f335682f8_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net loss to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_01a10d86-a84e-75c6-a14e-893c5b55b1b8_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet_01a10d86-a8ce-70be-b959-19fcee83b0b2_terseLabel_en-US" xlink:label="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Controlling Interest Contributions To Investment In Real Estate, Net</link:label>
    <link:label id="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet_label_en-US" xlink:label="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Controlling Interest Contributions To Investment In Real Estate, Net</link:label>
    <link:label id="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet_documentation_en-US" xlink:label="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-Controlling Interest Contributions To Investment In Real Estate, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:to="lab_ck0001893262_NonControllingInterestContributionsToInvestmentInRealEstateNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IPOMember_01a10d86-a84e-71cf-8ead-bff5a5bc58da_terseLabel_en-US" xlink:label="lab_us-gaap_IPOMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Primary Offering</link:label>
    <link:label id="lab_us-gaap_IPOMember_label_en-US" xlink:label="lab_us-gaap_IPOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IPO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IPOMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IPOMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IPOMember" xlink:to="lab_us-gaap_IPOMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTable_01a10d86-a8ce-7de9-8e32-44c845fbfcc1_terseLabel_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Table]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTable_label_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities [Table]</link:label>
    <link:label id="lab_ck0001893262_OtherAssetsAndLiabilitiesTable_documentation_en-US" xlink:label="lab_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OtherAssetsAndLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:to="lab_ck0001893262_OtherAssetsAndLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_01a10d86-a84e-7554-8db2-e914106681de_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FutureNetAssetValueThreshold_01a10d86-a84e-7376-b4e4-6469ed520b1e_terseLabel_en-US" xlink:label="lab_ck0001893262_FutureNetAssetValueThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future NAV threshold</link:label>
    <link:label id="lab_ck0001893262_FutureNetAssetValueThreshold_label_en-US" xlink:label="lab_ck0001893262_FutureNetAssetValueThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future Net Asset Value Threshold</link:label>
    <link:label id="lab_ck0001893262_FutureNetAssetValueThreshold_documentation_en-US" xlink:label="lab_ck0001893262_FutureNetAssetValueThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Future net asset value threshold.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FutureNetAssetValueThreshold" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FutureNetAssetValueThreshold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FutureNetAssetValueThreshold" xlink:to="lab_ck0001893262_FutureNetAssetValueThreshold" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_01a10d86-a84e-73b6-bfc6-50cc2397c776_terseLabel_en-US" xlink:label="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_label_en-US" xlink:label="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Debt Maturities Repayments Of Principal After Year Four</link:label>
    <link:label id="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_documentation_en-US" xlink:label="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term debt maturities repayments of principal after year four.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:to="lab_ck0001893262_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_01a10d86-a84e-7661-91e9-4e37df20ef51_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Number of Shares Authorized and Par Value</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Stockholders Equity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockholdersEquityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AnnualCatchUpPercentage_01a10d86-a84e-7a52-b1fe-7e089d073569_terseLabel_en-US" xlink:label="lab_ck0001893262_AnnualCatchUpPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual catch-up percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualCatchUpPercentage_label_en-US" xlink:label="lab_ck0001893262_AnnualCatchUpPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Catch-Up Percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualCatchUpPercentage_documentation_en-US" xlink:label="lab_ck0001893262_AnnualCatchUpPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual catch-up percentage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AnnualCatchUpPercentage" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AnnualCatchUpPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AnnualCatchUpPercentage" xlink:to="lab_ck0001893262_AnnualCatchUpPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired_01a10d86-a7a0-7758-bbf0-e485356587d9_verboseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate investments acquired</link:label>
    <link:label id="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired_01a10d86-a7a0-7816-9bf5-3ec50efc4eee_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired_label_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Properties Acquired</link:label>
    <link:label id="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of real estate properties acquired.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfRealEstatePropertiesAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:to="lab_ck0001893262_NumberOfRealEstatePropertiesAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_01a10d86-a84e-7d7b-b3ca-9b41b383017c_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instruments [Domain]</link:label>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet_01a10d86-a84e-7cd6-bf0c-ae9127f3eeb2_totalLabel_en-US" xlink:label="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net distributions declared per share of common stock (usd per share)</link:label>
    <link:label id="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet_label_en-US" xlink:label="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Dividends Per Share Declared Net</link:label>
    <link:label id="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock dividends per share declared net.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockDividendsPerShareDeclaredNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:to="lab_ck0001893262_CommonStockDividendsPerShareDeclaredNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_01a10d86-a84e-73f0-9315-fd168b60ba3a_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Numerator:</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAssets_01a10d86-a8ce-7aef-a73d-2391bc093ecb_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps &#8211; Asset</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_01a10d86-a84e-7327-9448-0eab9736e3a3_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IndustrialSegmentMember_01a10d86-a84e-7949-b0ce-d5c0ba0a98dd_terseLabel_en-US" xlink:label="lab_ck0001893262_IndustrialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial</link:label>
    <link:label id="lab_ck0001893262_IndustrialSegmentMember_label_en-US" xlink:label="lab_ck0001893262_IndustrialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_IndustrialSegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_IndustrialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industrial Segment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IndustrialSegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IndustrialSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IndustrialSegmentMember" xlink:to="lab_ck0001893262_IndustrialSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassSMember_01a10d86-a8ce-71fa-9537-b21dea917032_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class S</link:label>
    <link:label id="lab_ck0001893262_CommonClassSMember_01a10d86-a8ce-7ce0-80cd-167593888bc0_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class S Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassSMember_01a10d86-a8ce-79d5-a85e-f53b63677e1e_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassSMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class S</link:label>
    <link:label id="lab_ck0001893262_CommonClassSMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class S [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassSMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common class S.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassSMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonClassSMember" xlink:to="lab_ck0001893262_CommonClassSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OfficeSegmentMember_01a10d86-a8ce-7302-94c8-3c7e94dd77ea_terseLabel_en-US" xlink:label="lab_ck0001893262_OfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_ck0001893262_OfficeSegmentMember_label_en-US" xlink:label="lab_ck0001893262_OfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Segment [Member]</link:label>
    <link:label id="lab_ck0001893262_OfficeSegmentMember_documentation_en-US" xlink:label="lab_ck0001893262_OfficeSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Office Segment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OfficeSegmentMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OfficeSegmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OfficeSegmentMember" xlink:to="lab_ck0001893262_OfficeSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardUndrlygSecuritiesAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:to="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfRealEstateTransactions_01a10d86-a8ce-705e-8186-018c036f760b_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstateTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Transactions</link:label>
    <link:label id="lab_ck0001893262_NumberOfRealEstateTransactions_label_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstateTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Transactions</link:label>
    <link:label id="lab_ck0001893262_NumberOfRealEstateTransactions_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfRealEstateTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of real estate transactions.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfRealEstateTransactions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfRealEstateTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfRealEstateTransactions" xlink:to="lab_ck0001893262_NumberOfRealEstateTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember_01a10d86-a84e-78dc-92d1-8758a376f837_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Real Estate-related and Other Securities [Member]</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in real estate-related and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:to="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_01a10d86-a7a0-7f8d-a281-8056d495f7d1_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock issued, net of offering costs</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CreditFacilityMember_01a10d86-a7a0-7f89-8538-ddc170abe79f_terseLabel_en-US" xlink:label="lab_ck0001893262_CreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility</link:label>
    <link:label id="lab_ck0001893262_CreditFacilityMember_label_en-US" xlink:label="lab_ck0001893262_CreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Member]</link:label>
    <link:label id="lab_ck0001893262_CreditFacilityMember_documentation_en-US" xlink:label="lab_ck0001893262_CreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CreditFacilityMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CreditFacilityMember" xlink:to="lab_ck0001893262_CreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AmountReimbursedToAdviser_01a10d86-a84e-789d-bf7d-f337d36d5cd9_terseLabel_en-US" xlink:label="lab_ck0001893262_AmountReimbursedToAdviser" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount reimbursed to adviser</link:label>
    <link:label id="lab_ck0001893262_AmountReimbursedToAdviser_label_en-US" xlink:label="lab_ck0001893262_AmountReimbursedToAdviser" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount Reimbursed to Adviser</link:label>
    <link:label id="lab_ck0001893262_AmountReimbursedToAdviser_documentation_en-US" xlink:label="lab_ck0001893262_AmountReimbursedToAdviser" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount reimbursed to adviser.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AmountReimbursedToAdviser" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AmountReimbursedToAdviser"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AmountReimbursedToAdviser" xlink:to="lab_ck0001893262_AmountReimbursedToAdviser" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock_01a10d86-a84e-7c6a-8ad8-15011c86ab95_terseLabel_en-US" xlink:label="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of restricted stock grants</link:label>
    <link:label id="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock_label_en-US" xlink:label="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Granted During Period, Value, Amortization of Restricted Stock</link:label>
    <link:label id="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock_documentation_en-US" xlink:label="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock granted during period, value, amortization of restricted stock.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:to="lab_ck0001893262_StockGrantedDuringPeriodValueAmortizationOfRestrictedStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockMember_01a10d86-a84e-7859-a441-4e33804613e1_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases_01a10d86-a84e-7879-a874-42d5a602ffab_terseLabel_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of proceeds from net monthly offerings but not to exceed remaining availability share of repurchases</link:label>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases_label_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Proceeds From Net Monthly Offerings but Not to Exceed Remaining Availability Share of Repurchases</link:label>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases_documentation_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of proceeds from net monthly offerings but not to exceed remaining availability share of repurchases.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:to="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferingsButNotToExceedRemainingAvailabilityShareOfRepurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_01a10d86-a84e-7cca-a9be-0b43909088ee_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_01a10d86-a84e-7bbc-9d77-cebadaccd545_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Future Principal Payment Due Under Mortgage Notes and Repurchase Facility</link:label>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-Term Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentInRealEstateDebt_01a10d86-a84e-7cde-9c25-831139c13f0a_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate debt</link:label>
    <link:label id="lab_ck0001893262_InvestmentInRealEstateDebt_label_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in Real Estate Debt</link:label>
    <link:label id="lab_ck0001893262_InvestmentInRealEstateDebt_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentInRealEstateDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment in real estate debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentInRealEstateDebt" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentInRealEstateDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentInRealEstateDebt" xlink:to="lab_ck0001893262_InvestmentInRealEstateDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_01a10d86-a84e-70dd-bea2-faa671fb2c3b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Related Party Transactions By Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_01a10d86-a84e-7654-bc84-51f3468b95b7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_label_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Number of Instruments Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNumberOfInstrumentsHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:to="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_01a10d86-a84e-7057-b8ff-8e01075edcf2_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MultifamilyMember_01a10d86-a7a0-753d-8d8a-3780a28fe4b6_terseLabel_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily</link:label>
    <link:label id="lab_srt_MultifamilyMember_label_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MultifamilyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MultifamilyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MultifamilyMember" xlink:to="lab_srt_MultifamilyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_01a10d86-a84e-7c42-8aef-4641a583a9e0_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpenseAbstract_01a10d86-a84e-7949-8d14-c846c1264e65_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income (expense), net</link:label>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Nonoperating Income (Expense) [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherNonoperatingIncomeExpenseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpenseAbstract" xlink:to="lab_us-gaap_OtherNonoperatingIncomeExpenseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllTradingArrangementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllTradingArrangementsMember" xlink:to="lab_ecd_AllTradingArrangementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_01a10d86-a84e-7e7d-9e09-866fa7022a39_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_01a10d86-a84e-7bb7-8900-a867b13f2d32_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_01a10d86-a84e-78e9-b339-c293bb904157_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements, Recurring</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_label_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OtherPerfMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OtherPerfMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OtherPerfMeasureAmt" xlink:to="lab_ecd_OtherPerfMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_01a10d86-a84e-7923-853c-fda4791388eb_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Segment net operating income (loss)</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss" xlink:to="lab_us-gaap_OperatingIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable_01a10d86-a84e-7b88-90f3-26371510ad1d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Shares Subject To Mandatory Redemption [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instrument Subject to Mandatory Redemption [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable" xlink:to="lab_us-gaap_ScheduleOfSharesSubjectToMandatoryRedemptionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StockholderServicingFeeDueToAffiliate_01a10d86-a84e-7fbe-8aa7-4feeb21586ce_terseLabel_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholder servicing fees</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFeeDueToAffiliate_label_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholder Servicing Fee Due To Affiliate</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFeeDueToAffiliate_documentation_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stockholder servicing fee due to affiliate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StockholderServicingFeeDueToAffiliate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:to="lab_ck0001893262_StockholderServicingFeeDueToAffiliate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_01a10d86-a84e-783c-8bd3-32cdee5547dc_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_VineyardCommonsMember_01a10d86-a84e-7797-a9f1-ab6db7d937f5_terseLabel_en-US" xlink:label="lab_ck0001893262_VineyardCommonsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vineyard Commons</link:label>
    <link:label id="lab_ck0001893262_VineyardCommonsMember_label_en-US" xlink:label="lab_ck0001893262_VineyardCommonsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vineyard Commons [Member]</link:label>
    <link:label id="lab_ck0001893262_VineyardCommonsMember_documentation_en-US" xlink:label="lab_ck0001893262_VineyardCommonsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vineyard Commons.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_VineyardCommonsMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_VineyardCommonsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_VineyardCommonsMember" xlink:to="lab_ck0001893262_VineyardCommonsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_TenantReceivables_01a10d86-a84e-779e-87d7-73d6933d6593_terseLabel_en-US" xlink:label="lab_ck0001893262_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant receivables</link:label>
    <link:label id="lab_ck0001893262_TenantReceivables_label_en-US" xlink:label="lab_ck0001893262_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Receivables</link:label>
    <link:label id="lab_ck0001893262_TenantReceivables_documentation_en-US" xlink:label="lab_ck0001893262_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tenant Receivables.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_TenantReceivables" xlink:href="ck0001893262-20260930.xsd#ck0001893262_TenantReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_TenantReceivables" xlink:to="lab_ck0001893262_TenantReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:to="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLineItems_01a10d86-a7a0-7b75-8723-69a624c639dd_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems" xlink:to="lab_us-gaap_DerivativeLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_StablewoodMember_01a10d86-a84e-7004-a1db-3e19dca46357_terseLabel_en-US" xlink:label="lab_ck0001893262_StablewoodMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stablewood</link:label>
    <link:label id="lab_ck0001893262_StablewoodMember_label_en-US" xlink:label="lab_ck0001893262_StablewoodMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stablewood [Member]</link:label>
    <link:label id="lab_ck0001893262_StablewoodMember_documentation_en-US" xlink:label="lab_ck0001893262_StablewoodMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stablewood.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_StablewoodMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_StablewoodMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_StablewoodMember" xlink:to="lab_ck0001893262_StablewoodMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_01a10d86-a7a0-7b46-a8a5-a192869c8c41_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Common stock repurchased</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock_01a10d86-a7a0-7674-900f-21039c541fe2_terseLabel_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Income Recognized from Investments in Real Estate-related and Other Securities</link:label>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock_label_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Recognized From Investments In Real Estate Related and Other Securities [Table Text Block]</link:label>
    <link:label id="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income recognized from investments in real estate-related and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:to="lab_ck0001893262_IncomeRecognizedFromInvestmentsInRealEstateRelatedAndOtherSecuritiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:to="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_01a10d86-a7a0-730b-b78a-6bc9a0ad01e7_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate gross distributions declared per share of common stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_01a10d86-a84e-7974-819a-f2b52865a1f6_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:to="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_01a10d86-a84e-72a4-b687-2572c247874a_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentOwnedAtFairValue_01a10d86-a7a0-76e5-8f4f-5185d229c20d_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_InvestmentOwnedAtFairValue_label_en-US" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Owned, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentOwnedAtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentOwnedAtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedAtFairValue" xlink:to="lab_us-gaap_InvestmentOwnedAtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_01a10d86-a84e-7a20-87ec-7c463722fb84_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reclassification to distributions payable/paid</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ClassESharesAndClassEUnitsMember_01a10d86-a84e-70dc-b637-23b7fec19a9f_terseLabel_en-US" xlink:label="lab_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class E Shares and Class E Units</link:label>
    <link:label id="lab_ck0001893262_ClassESharesAndClassEUnitsMember_label_en-US" xlink:label="lab_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class E Shares and Class E Units [Member]</link:label>
    <link:label id="lab_ck0001893262_ClassESharesAndClassEUnitsMember_documentation_en-US" xlink:label="lab_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class E shares and class E units.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ClassESharesAndClassEUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:to="lab_ck0001893262_ClassESharesAndClassEUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LineOfCreditNumberOfExtensions_01a10d86-a84e-7e55-8b7c-bc4cf9276063_terseLabel_en-US" xlink:label="lab_ck0001893262_LineOfCreditNumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of extensions</link:label>
    <link:label id="lab_ck0001893262_LineOfCreditNumberOfExtensions_label_en-US" xlink:label="lab_ck0001893262_LineOfCreditNumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit, Number of Extensions</link:label>
    <link:label id="lab_ck0001893262_LineOfCreditNumberOfExtensions_documentation_en-US" xlink:label="lab_ck0001893262_LineOfCreditNumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line of Credit, Number of Extensions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LineOfCreditNumberOfExtensions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LineOfCreditNumberOfExtensions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LineOfCreditNumberOfExtensions" xlink:to="lab_ck0001893262_LineOfCreditNumberOfExtensions" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_01a10d86-a8ce-72bc-88d3-129323d7db3b_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
    <link:label id="lab_ecd_MeasureAxis_label_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureAxis" xlink:to="lab_ecd_MeasureAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_01a10d86-a84e-72a2-8148-e2e4acd7a65a_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_01a10d86-a84e-76ab-8c6e-2b6430b769ba_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_Straight-LineRentAmortization_01a10d86-a84e-760c-964a-ad540c6a7413_negatedLabel_en-US" xlink:label="lab_ck0001893262_Straight-LineRentAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Straight-line rent amortization</link:label>
    <link:label id="lab_ck0001893262_Straight-LineRentAmortization_label_en-US" xlink:label="lab_ck0001893262_Straight-LineRentAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight-line rent amortization</link:label>
    <link:label id="lab_ck0001893262_Straight-LineRentAmortization_documentation_en-US" xlink:label="lab_ck0001893262_Straight-LineRentAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Straight-line rent amortization.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_Straight-LineRentAmortization" xlink:href="ck0001893262-20260930.xsd#ck0001893262_Straight-LineRentAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_Straight-LineRentAmortization" xlink:to="lab_ck0001893262_Straight-LineRentAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_01a10d86-a7a0-76ad-90e9-314eea0886a4_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_01a10d86-a84e-7385-974e-1d94506eef0d_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_01a10d86-a8ce-729b-90ad-5fb1eb747cf8_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:to="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn_01a10d86-a84e-777f-822a-52dc867ce408_terseLabel_en-US" xlink:label="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party allocation percentage of annual total return</link:label>
    <link:label id="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn_label_en-US" xlink:label="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Performance Participation Allocation Percentage Of Annual Return</link:label>
    <link:label id="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn_documentation_en-US" xlink:label="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related party performance participation allocation percentage of annual return.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:to="lab_ck0001893262_RelatedPartyPerformanceParticipationAllocationPercentageOfAnnualReturn" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_01a10d86-a84e-7552-a925-92bf98541f77_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateAxis_01a10d86-a84e-7608-a9d2-942ccb87d38d_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableRateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis" xlink:to="lab_us-gaap_VariableRateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities_01a10d86-a84e-7712-a903-789304df1d90_negatedLabel_en-US" xlink:label="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of real-estate related and other securities</link:label>
    <link:label id="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities_label_en-US" xlink:label="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate-related and Other Securities</link:label>
    <link:label id="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities_documentation_en-US" xlink:label="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments to acquire real estate-related and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:to="lab_ck0001893262_PaymentsToAcquireRealEstateRelatedAndOtherSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_01a10d86-a84e-7409-8a27-116cff9c2ac4_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrTerminationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Date</link:label>
    <link:label id="lab_ecd_TrdArrTerminationDate_label_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Termination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrTerminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrTerminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrTerminationDate" xlink:to="lab_ecd_TrdArrTerminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized_01a10d86-a7a0-7a5c-8258-6319c6dce532_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of common stock and preferred stock shares, authorized (in shares)</link:label>
    <link:label id="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized_01a10d86-a7a0-7f10-ac48-77dbdaa78151_verboseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of Shares (in shares)</link:label>
    <link:label id="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized_label_en-US" xlink:label="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Common Stock And Preferred Stock Shares Authorized</link:label>
    <link:label id="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfCommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of common stock and preferred stock shares authorized.</link:label>
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    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed_label_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition Purchase Price Allocation of Net Working Capital Assumed</link:label>
    <link:label id="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed_documentation_en-US" xlink:label="lab_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset acquisitions purchase price allocation of net working capital assumed.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AssetAcquisitionPurchasePriceAllocationOfNetWorkingCapitalAssumed"/>
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    <link:label id="lab_us-gaap_SubsequentEventsAbstract_01a10d86-a7a0-75a5-8f05-546120932d05_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsAbstract"/>
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    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_01a10d86-a84e-77f6-9642-73a261c4f409_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DistributionPayable_01a10d86-a84e-7005-ab77-3ecb857f993e_terseLabel_en-US" xlink:label="lab_us-gaap_DistributionPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution payable</link:label>
    <link:label id="lab_us-gaap_DistributionPayable_label_en-US" xlink:label="lab_us-gaap_DistributionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DistributionPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DistributionPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DistributionPayable" xlink:to="lab_us-gaap_DistributionPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_01a10d86-a7a0-7c75-918a-aff55e9c6794_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_01a10d86-a84e-7afb-825e-4a6c1262be3b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardGrantDateFairValue" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardGrantDateFairValue" xlink:to="lab_ecd_AwardGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_01a10d86-a84f-79a0-aa47-f8afb19ac9a8_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_01a10d86-a8ce-71a3-8110-ecf9348343bd_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of real estate</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:to="lab_us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonClassIMember_01a10d86-a84e-7fae-b928-52dce871284a_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Class I</link:label>
    <link:label id="lab_ck0001893262_CommonClassIMember_01a10d86-a84e-7cf9-a66a-8017d63f702e_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommonClassIMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class I Shares</link:label>
    <link:label id="lab_ck0001893262_CommonClassIMember_01a10d86-a84e-7969-a206-d30b4c016921_netLabel_en-US" xlink:label="lab_ck0001893262_CommonClassIMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Class I</link:label>
    <link:label id="lab_ck0001893262_CommonClassIMember_label_en-US" xlink:label="lab_ck0001893262_CommonClassIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class I [Member]</link:label>
    <link:label id="lab_ck0001893262_CommonClassIMember_documentation_en-US" xlink:label="lab_ck0001893262_CommonClassIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Class I.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonClassIMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonClassIMember"/>
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    <link:label id="lab_ck0001893262_NumberOfOfficeProperties_01a10d86-a84e-77f2-883a-bffb68d0d2dc_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOfficeProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of office properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOfficeProperties_label_en-US" xlink:label="lab_ck0001893262_NumberOfOfficeProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Office Properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOfficeProperties_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfOfficeProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Office Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfOfficeProperties" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfOfficeProperties"/>
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    <link:label id="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments_01a10d86-a7a0-7785-9c48-c9165d330cfd_terseLabel_en-US" xlink:label="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption value adjustment on mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments_label_en-US" xlink:label="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redemption Value Adjustment on Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments_documentation_en-US" xlink:label="lab_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redemption value adjustment on mandatorily redeemable instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RedemptionValueAdjustmentOnMandatorilyRedeemableInstruments"/>
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    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTableTextBlock"/>
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    <link:label id="lab_ck0001893262_NumberOfOwnedInMultifamilyProperties_01a10d86-a84e-757f-ac21-add76e7056f2_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInMultifamilyProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of owned in multifamily property</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedInMultifamilyProperties_label_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInMultifamilyProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Owned In Multifamily Properties</link:label>
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    <link:label id="lab_ecd_TrdArrDuration_label_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrDuration" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrDuration" xlink:to="lab_ecd_TrdArrDuration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_01a10d86-a7a0-73e7-8178-28c8487255e7_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems" xlink:to="lab_us-gaap_SubsequentEventLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_01a10d86-a84e-7b0b-ad39-055029c17b3b_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable_01a10d86-a84e-7445-bf40-342ef9750de1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, and Equity Securities, FV-NI [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, and Equity Securities, FV-NI [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:to="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_01a10d86-a84f-7adf-ae2d-c7940c2266a6_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate_01a10d86-a84e-7530-a964-208a35bdf1a9_terseLabel_en-US" xlink:label="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from mortgage notes and debt secured by real estate</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate_label_en-US" xlink:label="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Mortgage Notes and Debt Secured by Real Estate</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate_documentation_en-US" xlink:label="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from mortgage notes and debt secured by real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:to="lab_ck0001893262_ProceedsFromMortgageNotesAndDebtSecuredByRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidationItemsAxis_01a10d86-a7a0-70fd-bc39-f192e7edf57c_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:label id="lab_srt_ConsolidationItemsAxis_label_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsAxis" xlink:to="lab_srt_ConsolidationItemsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_01a10d86-a7a0-79fd-9155-72ae935f1662_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_01a10d86-a84e-786e-92c8-f0a1c2683b93_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet_01a10d86-a8ce-70ae-bbc8-fb4f3fecc9c2_terseLabel_en-US" xlink:label="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification of deposits to investments in real estate, net</link:label>
    <link:label id="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet_label_en-US" xlink:label="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification of Deposits to Investments in Real Estate, Net</link:label>
    <link:label id="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet_documentation_en-US" xlink:label="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclassification of deposits to investments in real estate, net.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:to="lab_ck0001893262_ReclassificationOfDepositsToInvestmentsInRealEstateNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:to="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_01a10d86-a7a0-7dbb-86ce-cd3f66ab0bc6_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 17)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_01a10d86-a84e-7218-b81c-b3a7f0976b2a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, before Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Revenues_01a10d86-a7a0-766f-8f9a-0d20d3b67f29_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Rental revenue</link:label>
    <link:label id="lab_us-gaap_Revenues_label_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Revenues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest_01a10d86-a84e-74e5-bb6f-63b12aae11ae_terseLabel_en-US" xlink:label="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocation to redeemable non-controlling interest</link:label>
    <link:label id="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest_label_en-US" xlink:label="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allocation to Redeemable Non-controlling Interest</link:label>
    <link:label id="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest_documentation_en-US" xlink:label="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allocation to redeemable non-controlling interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AllocationToRedeemableNon-ControllingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:to="lab_ck0001893262_AllocationToRedeemableNon-ControllingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_01a10d86-a84e-716c-b966-2e61eadbecb0_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_01a10d86-a84e-7e20-89ef-a303d526beb8_terseLabel_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture, fixtures and equipment</link:label>
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_label_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and Equipment, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FixturesAndEquipmentGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FixturesAndEquipmentGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixturesAndEquipmentGross" xlink:to="lab_us-gaap_FixturesAndEquipmentGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_01a10d86-a84e-79da-bb41-188526b609f8_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in accounts payable, accrued expenses and other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_terseLabel_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Executive Category:</link:label>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_label_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Executive Category [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ExecutiveCategoryAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ExecutiveCategoryAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ExecutiveCategoryAxis" xlink:to="lab_ecd_ExecutiveCategoryAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility_01a10d86-a84e-7c27-b16f-a6316be8b2c2_negatedLabel_en-US" xlink:label="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments under unsecured revolving credit facility</link:label>
    <link:label id="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility_label_en-US" xlink:label="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments under unsecured revolving credit facility</link:label>
    <link:label id="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility_documentation_en-US" xlink:label="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repayments under unsecured revolving credit facility</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:to="lab_ck0001893262_RepaymentsUnderUnsecuredRevolvingCreditFacility" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CapitalizedInvestment_01a10d86-a84e-74a2-a7ef-ec103471850f_terseLabel_en-US" xlink:label="lab_ck0001893262_CapitalizedInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized investment</link:label>
    <link:label id="lab_ck0001893262_CapitalizedInvestment_label_en-US" xlink:label="lab_ck0001893262_CapitalizedInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized Investment</link:label>
    <link:label id="lab_ck0001893262_CapitalizedInvestment_documentation_en-US" xlink:label="lab_ck0001893262_CapitalizedInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capitalized investment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CapitalizedInvestment" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CapitalizedInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CapitalizedInvestment" xlink:to="lab_ck0001893262_CapitalizedInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FurnitureAndFixturesMember_01a10d86-a7a0-7ce8-95bd-b9b349c0c478_verboseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Furniture, fixtures and equipment</link:label>
    <link:label id="lab_us-gaap_FurnitureAndFixturesMember_label_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FurnitureAndFixturesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FurnitureAndFixturesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesMember" xlink:to="lab_us-gaap_FurnitureAndFixturesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_01a10d86-a84e-7a47-ab6b-7e3e0d3374f0_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_01a10d86-a84e-7a3e-9658-48dbf81032df_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfCapitalizationTable_01a10d86-a8ce-739c-b654-9091c1dba7e5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCapitalizationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Capitalization [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfCapitalizationTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCapitalizationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Capitalization [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCapitalizationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfCapitalizationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCapitalizationTable" xlink:to="lab_us-gaap_ScheduleOfCapitalizationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_01a10d86-a84e-713d-bd15-ba64c22531a8_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_01a10d86-a84e-7b7f-b35d-47870ffb0203_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Carrying Value and Fair Value of Financial Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Award Types</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_01a10d86-a84e-7019-9db4-28c428f6a51a_terseLabel_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions declared</link:label>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest Decrease From Distributions To Noncontrolling Interest Holders</link:label>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_documentation_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable noncontrolling interest decrease from distributions to noncontrolling interest holders.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_ck0001893262_RedeemableNoncontrollingInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_BakerChocolateMember_01a10d86-a84e-78c2-af9f-f4d259efca2c_terseLabel_en-US" xlink:label="lab_ck0001893262_BakerChocolateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Baker Chocolate</link:label>
    <link:label id="lab_ck0001893262_BakerChocolateMember_label_en-US" xlink:label="lab_ck0001893262_BakerChocolateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Baker Chocolate [Member]</link:label>
    <link:label id="lab_ck0001893262_BakerChocolateMember_documentation_en-US" xlink:label="lab_ck0001893262_BakerChocolateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Baker Chocolate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_BakerChocolateMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_BakerChocolateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_BakerChocolateMember" xlink:to="lab_ck0001893262_BakerChocolateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_01a10d86-a84e-7690-a0d6-782fc7bb9ce8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfInvestmentPositions_01a10d86-a84e-736f-823a-3d700a56003d_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfInvestmentPositions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Positions</link:label>
    <link:label id="lab_ck0001893262_NumberOfInvestmentPositions_label_en-US" xlink:label="lab_ck0001893262_NumberOfInvestmentPositions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Investment Positions</link:label>
    <link:label id="lab_ck0001893262_NumberOfInvestmentPositions_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfInvestmentPositions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Investment Positions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfInvestmentPositions" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfInvestmentPositions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfInvestmentPositions" xlink:to="lab_ck0001893262_NumberOfInvestmentPositions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_01a10d86-a7a0-7b2e-9f8b-07112fa1dfdf_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of cash flow information:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts_01a10d86-a8ce-7329-89b2-1868394861d7_negatedLabel_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments interest costs</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts_label_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mandatorily Redeemable Instruments Interest Costs</link:label>
    <link:label id="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts_documentation_en-US" xlink:label="lab_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable instruments interest cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MandatorilyRedeemableInstrumentsInterestCosts"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_01a10d86-a84e-7c0f-9e01-385319e37f6a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_01a10d86-a8ce-7d00-b732-b70ed658df2b_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Noncontrolling Owner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCash_01a10d86-a8ce-78da-97cc-ad5ecd784e01_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCash_label_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCash" xlink:to="lab_us-gaap_RestrictedCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_01a10d86-a84e-76b0-8ad8-eb34fd71c014_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommercialMortgageLoanMember_01a10d86-a84e-71cf-872b-9c7a03e6ba24_verboseLabel_en-US" xlink:label="lab_ck0001893262_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loans</link:label>
    <link:label id="lab_ck0001893262_CommercialMortgageLoanMember_01a10d86-a84e-7ef6-a51f-a8448082463a_terseLabel_en-US" xlink:label="lab_ck0001893262_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loan</link:label>
    <link:label id="lab_ck0001893262_CommercialMortgageLoanMember_label_en-US" xlink:label="lab_ck0001893262_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loan [Member]</link:label>
    <link:label id="lab_ck0001893262_CommercialMortgageLoanMember_documentation_en-US" xlink:label="lab_ck0001893262_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loan.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommercialMortgageLoanMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommercialMortgageLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommercialMortgageLoanMember" xlink:to="lab_ck0001893262_CommercialMortgageLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_01a10d86-a8ce-71b7-8b3f-31e531e9fda0_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_01a10d86-a7a0-7bf9-b506-8a74a3cf28c6_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets, net</link:label>
    <link:label id="lab_us-gaap_OtherAssets_01a10d86-a7a0-7f88-ae9b-6b4a77bb6629_totalLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_01a10d86-a84e-7ae1-9508-ce7131d8a780_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfUnitsAcquired_01a10d86-a7a0-7a6d-be35-7c9f24fddd99_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units</link:label>
    <link:label id="lab_ck0001893262_NumberOfUnitsAcquired_01a10d86-a7a0-7f49-bd0c-9ab547cd6359_verboseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Units</link:label>
    <link:label id="lab_ck0001893262_NumberOfUnitsAcquired_label_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Units Acquired</link:label>
    <link:label id="lab_ck0001893262_NumberOfUnitsAcquired_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of units acquired.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfUnitsAcquired" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfUnitsAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfUnitsAcquired" xlink:to="lab_ck0001893262_NumberOfUnitsAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_01a10d86-a7a0-71d5-922f-1391d8606ce3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liability Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liability Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByLiabilityClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:to="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_01a10d86-a84e-70fb-a109-2526a0fac0bf_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total cash, cash equivalents and restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems_01a10d86-a84e-7a13-a96e-f8ff5d4dcd3d_terseLabel_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]</link:label>
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems_label_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems" xlink:to="lab_us-gaap_SharesSubjectToMandatoryRedemptionBySettlementTermsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_01a10d86-a84e-78c3-8633-ef11674afd52_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeLeasePayments_01a10d86-a7a0-7baf-afe0-9694de3390c2_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed lease payments</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeLeasePayments_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income, Lease Payments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncomeLeasePayments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_01a10d86-a84e-77d9-b66e-06588dd60697_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BaseRateMember_01a10d86-a84e-7dd9-a3cf-2988135d907b_terseLabel_en-US" xlink:label="lab_us-gaap_BaseRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Base Rate</link:label>
    <link:label id="lab_us-gaap_BaseRateMember_label_en-US" xlink:label="lab_us-gaap_BaseRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Base Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BaseRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BaseRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BaseRateMember" xlink:to="lab_us-gaap_BaseRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_01a10d86-a84e-7e2d-8a6b-be5724d7b7a3_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MtrlTermsOfTrdArrTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonNeosMember_terseLabel_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-NEOs</link:label>
    <link:label id="lab_ecd_NonNeosMember_label_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-NEOs [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonNeosMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonNeosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonNeosMember" xlink:to="lab_ecd_NonNeosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year</link:label>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:to="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_01a10d86-a8ce-78f5-b8c9-a6435153024e_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization and Business Purpose</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_01a10d86-a8ce-7c97-ba2d-332872a4f29d_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_01a10d86-a84e-7643-b0ed-e221c3502c8e_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum allowable ownership interest percentage</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AggregatePurchaseAmount_01a10d86-a84e-7abe-a0b3-c13b1e98d897_terseLabel_en-US" xlink:label="lab_ck0001893262_AggregatePurchaseAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate purchase amount</link:label>
    <link:label id="lab_ck0001893262_AggregatePurchaseAmount_label_en-US" xlink:label="lab_ck0001893262_AggregatePurchaseAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Purchase Amount</link:label>
    <link:label id="lab_ck0001893262_AggregatePurchaseAmount_documentation_en-US" xlink:label="lab_ck0001893262_AggregatePurchaseAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aggregate purchase amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AggregatePurchaseAmount" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AggregatePurchaseAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AggregatePurchaseAmount" xlink:to="lab_ck0001893262_AggregatePurchaseAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_01a10d86-a84e-75eb-b3f2-c521bfdf56fb_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacility_01a10d86-a84e-700e-ba6c-999624bef888_terseLabel_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured revolving credit facility</link:label>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacility_label_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Revolving Credit Facility</link:label>
    <link:label id="lab_ck0001893262_UnsecuredRevolvingCreditFacility_documentation_en-US" xlink:label="lab_ck0001893262_UnsecuredRevolvingCreditFacility" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsecured revolving credit facility.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_UnsecuredRevolvingCreditFacility" xlink:href="ck0001893262-20260930.xsd#ck0001893262_UnsecuredRevolvingCreditFacility"/>
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    <link:label id="lab_ck0001893262_DistributionReinvestment_01a10d86-a7a0-7e08-939f-9896d8304f4d_terseLabel_en-US" xlink:label="lab_ck0001893262_DistributionReinvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution re-investments</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestment_label_en-US" xlink:label="lab_ck0001893262_DistributionReinvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Reinvestment</link:label>
    <link:label id="lab_ck0001893262_DistributionReinvestment_documentation_en-US" xlink:label="lab_ck0001893262_DistributionReinvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution reinvestment.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DistributionReinvestment" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DistributionReinvestment"/>
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    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock_01a10d86-a7a0-73b6-b32a-e9065c3093f0_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Real Estate</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Real Estate Disclosure [Text Block]</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in real estate disclosure.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateDisclosureTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateDisclosureTextBlock"/>
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    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_01a10d86-a7a0-7a01-aebe-6ae5da8bbcc4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchase of redeemable non-controlling interest</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Redeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToAffiliates_01a10d86-a84e-7392-81d9-6465b7030fef_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in due to affiliates</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToAffiliates_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Due to Affiliates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInDueToAffiliates"/>
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    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_01a10d86-a8ce-7f6b-866c-def4a1862bda_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_01a10d86-a8ce-784e-8638-561dbd2cbc04_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
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    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_01a10d86-a7a0-7eab-83a4-9e1d9a9ba75a_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_01a10d86-a84e-701f-b80e-d8da88e667e1_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) per share of common stock &#8211; basic (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_01a10d86-a84e-7290-9928-aa78c0f251e5_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic net income (loss) per share of common stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredRevenue_01a10d86-a84e-7fc0-8c12-ece1284ca8f7_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred rental income</link:label>
    <link:label id="lab_us-gaap_DeferredRevenue_label_en-US" xlink:label="lab_us-gaap_DeferredRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredRevenue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRevenue" xlink:to="lab_us-gaap_DeferredRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_01a10d86-a84e-70d8-8f0c-d2b2686f3d52_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeAxis" xlink:to="lab_us-gaap_MeasurementInputTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_01a10d86-a7a0-7dbe-8716-16639164642a_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare_01a10d86-a7a0-783e-90cc-5897c639ab62_terseLabel_en-US" xlink:label="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par Value (usd per share)</link:label>
    <link:label id="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock and Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:label id="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare_documentation_en-US" xlink:label="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock and preferred stock, par or stated value per share.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:to="lab_ck0001893262_CommonStockAndPreferredStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_01a10d86-a84e-76cd-b0eb-68b1e14d36a7_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward_01a10d86-a84e-785d-a250-161fb851c074_terseLabel_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest [Roll Forward]</link:label>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward_label_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Roll Forward]</link:label>
    <link:label id="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward_documentation_en-US" xlink:label="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RedeemableNoncontrollingInterestRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:to="lab_ck0001893262_RedeemableNoncontrollingInterestRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable_01a10d86-a7a0-797a-9a35-7095c7fddd2d_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loss attributable to non-controlling interests in consolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Nonredeemable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable" xlink:to="lab_us-gaap_NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan_01a10d86-a8ce-76b5-93ff-11acb1c7e7c8_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of units collateral under loan</link:label>
    <link:label id="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan_label_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Units Collateral Under Loan</link:label>
    <link:label id="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of units collateral under loan.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfUnitsCollateralUnderLoan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:to="lab_ck0001893262_NumberOfUnitsCollateralUnderLoan" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_VariationMarginProceedsPayments_01a10d86-a7a0-753f-b971-d5177dafbd41_terseLabel_en-US" xlink:label="lab_ck0001893262_VariationMarginProceedsPayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variation margin proceeds</link:label>
    <link:label id="lab_ck0001893262_VariationMarginProceedsPayments_label_en-US" xlink:label="lab_ck0001893262_VariationMarginProceedsPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variation Margin Proceeds Payments</link:label>
    <link:label id="lab_ck0001893262_VariationMarginProceedsPayments_documentation_en-US" xlink:label="lab_ck0001893262_VariationMarginProceedsPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variation margin proceeds payments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_VariationMarginProceedsPayments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_VariationMarginProceedsPayments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_VariationMarginProceedsPayments" xlink:to="lab_ck0001893262_VariationMarginProceedsPayments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_01a10d86-a84e-7428-82a0-49da7939e39f_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DueToAffiliates_01a10d86-a84e-72c2-af73-78bb0fc70045_totalLabel_en-US" xlink:label="lab_ck0001893262_DueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ck0001893262_DueToAffiliates_label_en-US" xlink:label="lab_ck0001893262_DueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due To Affiliates</link:label>
    <link:label id="lab_ck0001893262_DueToAffiliates_documentation_en-US" xlink:label="lab_ck0001893262_DueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Due to affiliates.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DueToAffiliates" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DueToAffiliates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DueToAffiliates" xlink:to="lab_ck0001893262_DueToAffiliates" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NamedExecutiveOfficersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_01a10d86-a84e-70c9-ac3c-e96c5c5b67c8_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock_01a10d86-a7a0-7734-9a08-a4dad5b06439_terseLabel_en-US" xlink:label="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of Due to Affiliates</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock_label_en-US" xlink:label="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Due to Affiliates [Table Text Block]</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of due to affiliates table text block</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:to="lab_ck0001893262_ScheduleOfDueToAffiliatesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtMember_01a10d86-a84e-7b1d-924d-5720b33db221_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate debt</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtMember_01a10d86-a84e-7dc9-8bbb-e8d01b2a0b67_verboseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate debt (asset)</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtMember_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Real Estate Debt [Member]</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtMember_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment in real estate debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:to="lab_ck0001893262_InvestmentsInRealEstateDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CapitalUnitsByClassAxis_01a10d86-a84e-7715-a273-5b317cca5f61_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalUnitsByClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Units by Class</link:label>
    <link:label id="lab_us-gaap_CapitalUnitsByClassAxis_label_en-US" xlink:label="lab_us-gaap_CapitalUnitsByClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Units by Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalUnitsByClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CapitalUnitsByClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalUnitsByClassAxis" xlink:to="lab_us-gaap_CapitalUnitsByClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_01a10d86-a84e-725a-94ef-7bca5c9f966f_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PerformanceParticipationAllocation_01a10d86-a84e-704c-bd31-f11919e7d2e5_terseLabel_en-US" xlink:label="lab_ck0001893262_PerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance participation allocation</link:label>
    <link:label id="lab_ck0001893262_PerformanceParticipationAllocation_label_en-US" xlink:label="lab_ck0001893262_PerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Participation Allocation</link:label>
    <link:label id="lab_ck0001893262_PerformanceParticipationAllocation_documentation_en-US" xlink:label="lab_ck0001893262_PerformanceParticipationAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performance participation allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PerformanceParticipationAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PerformanceParticipationAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PerformanceParticipationAllocation" xlink:to="lab_ck0001893262_PerformanceParticipationAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_01a10d86-a84e-7209-a823-2060f2cef12a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentage_01a10d86-a84e-7ff3-8196-1ed6ad97b0b8_terseLabel_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual stockholder servicing fee percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentage_label_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Stock Holder Servicing Fee Percentage</link:label>
    <link:label id="lab_ck0001893262_AnnualStockHolderServicingFeePercentage_documentation_en-US" xlink:label="lab_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual stock holder servicing fee percentage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:href="ck0001893262-20260930.xsd#ck0001893262_AnnualStockHolderServicingFeePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:to="lab_ck0001893262_AnnualStockHolderServicingFeePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_01a10d86-a7a0-7b35-a359-79f910d9fdcc_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Components of Operating Lease Income from Industrial Property</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncomeTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_01a10d86-a84e-7fd1-a112-24c98ee4b9a9_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CoverAbstract"/>
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    <link:label id="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock_01a10d86-a8ce-75ba-b303-5eebb6de459b_terseLabel_en-US" xlink:label="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangibles</link:label>
    <link:label id="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Text Block]</link:label>
    <link:label id="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:to="lab_ck0001893262_IntangibleAssetsAndLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_01a10d86-a84e-7e2a-af96-50f44e4e6696_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentAggregateCost_01a1ac8f-8a0a-7130-bb79-d4f5b2a201e9_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentAggregateCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity method investment, aggregate cost</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentAggregateCost_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentAggregateCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Aggregate Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentAggregateCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentAggregateCost"/>
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    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities_01a10d86-a84e-7956-a33a-599e8b58cfd1_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in real estate-related and other securities</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in real estate-related and other securities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:to="lab_ck0001893262_InvestmentsInRealEstateRelatedAndOtherSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsMember"/>
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    <link:label id="lab_ck0001893262_RetailCenterMember_01a10d86-a8ce-774d-9e78-882b54dbea98_terseLabel_en-US" xlink:label="lab_ck0001893262_RetailCenterMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail Center</link:label>
    <link:label id="lab_ck0001893262_RetailCenterMember_label_en-US" xlink:label="lab_ck0001893262_RetailCenterMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Center [Member]</link:label>
    <link:label id="lab_ck0001893262_RetailCenterMember_documentation_en-US" xlink:label="lab_ck0001893262_RetailCenterMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retail Center</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RetailCenterMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RetailCenterMember"/>
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    <link:label id="lab_us-gaap_SecurityDepositLiability_01a10d86-a7a0-71f4-be0e-3f148abc3404_terseLabel_en-US" xlink:label="lab_us-gaap_SecurityDepositLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant security deposits</link:label>
    <link:label id="lab_us-gaap_SecurityDepositLiability_label_en-US" xlink:label="lab_us-gaap_SecurityDepositLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Deposit Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecurityDepositLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecurityDepositLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecurityDepositLiability" xlink:to="lab_us-gaap_SecurityDepositLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionLineItems_01a10d86-a8ce-7a72-94f6-d2c56b2f9815_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Line Items]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionLineItems_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionLineItems" xlink:to="lab_us-gaap_AssetAcquisitionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_01a10d86-a84e-72ef-ba5f-f11c0b9daf3c_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentsMeasurementInput_01a10d86-a84e-7947-a0c4-84ac380ac5f0_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement input</link:label>
    <link:label id="lab_ck0001893262_InvestmentsMeasurementInput_label_en-US" xlink:label="lab_ck0001893262_InvestmentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments, Measurement Input</link:label>
    <link:label id="lab_ck0001893262_InvestmentsMeasurementInput_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsMeasurementInput" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsMeasurementInput" xlink:to="lab_ck0001893262_InvestmentsMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_CharlestonMember_01a10d86-a7a0-79fb-9db5-ce8ac61cdfab_terseLabel_en-US" xlink:label="lab_ck0001893262_CharlestonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charleston</link:label>
    <link:label id="lab_ck0001893262_CharlestonMember_label_en-US" xlink:label="lab_ck0001893262_CharlestonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Charleston [Member]</link:label>
    <link:label id="lab_ck0001893262_CharlestonMember_documentation_en-US" xlink:label="lab_ck0001893262_CharlestonMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Charleston.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_CharlestonMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_CharlestonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_CharlestonMember" xlink:to="lab_ck0001893262_CharlestonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealizedInvestmentGainsLosses_01a10d86-a8ce-7ad2-bf20-46be472c1821_terseLabel_en-US" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized gain</link:label>
    <link:label id="lab_us-gaap_RealizedInvestmentGainsLosses_label_en-US" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Investment Gains (Losses)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealizedInvestmentGainsLosses" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealizedInvestmentGainsLosses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealizedInvestmentGainsLosses" xlink:to="lab_us-gaap_RealizedInvestmentGainsLosses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_01a10d86-a84e-78c1-a797-51c2aeb64363_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_01a10d86-a7a0-7742-b7b5-08901a2fe305_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests in consolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_01a10d86-a84e-727f-be6a-992f293e6474_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Rents Expects to Receive from Industrial Property</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_01a10d86-a84f-76cb-afb0-6c32cbfdbcfb_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementBusinessSegmentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_label_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Additional402vDisclosureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Additional402vDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Additional402vDisclosureTextBlock" xlink:to="lab_ecd_Additional402vDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PartnersCapitalAccountSaleOfUnits_01a10d86-a84e-7d27-9b88-fa0dd3b607d4_terseLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountSaleOfUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of operating partnership units for exchange of investment</link:label>
    <link:label id="lab_us-gaap_PartnersCapitalAccountSaleOfUnits_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountSaleOfUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partners' Capital Account, Sale of Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapitalAccountSaleOfUnits" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PartnersCapitalAccountSaleOfUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAccountSaleOfUnits" xlink:to="lab_us-gaap_PartnersCapitalAccountSaleOfUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_IndustrialCampusMember_01a17ecd-5af6-7377-bf68-3affd508a503_terseLabel_en-US" xlink:label="lab_ck0001893262_IndustrialCampusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial Campus</link:label>
    <link:label id="lab_ck0001893262_IndustrialCampusMember_label_en-US" xlink:label="lab_ck0001893262_IndustrialCampusMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Campus [Member]</link:label>
    <link:label id="lab_ck0001893262_IndustrialCampusMember_documentation_en-US" xlink:label="lab_ck0001893262_IndustrialCampusMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industrial Campus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_IndustrialCampusMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_IndustrialCampusMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_IndustrialCampusMember" xlink:to="lab_ck0001893262_IndustrialCampusMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByAssetClassAxis_01a10d86-a84e-75d2-b40c-25488a687e6e_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByAssetClassAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByAssetClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByAssetClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByAssetClassAxis" xlink:to="lab_us-gaap_FairValueByAssetClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_01a10d86-a84e-7695-a3db-83aa44737218_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_TradingSecuritiesDebtFundedAmount_01a10d86-a84e-7a81-91f6-2c9f13e2553a_terseLabel_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt funded amount</link:label>
    <link:label id="lab_ck0001893262_TradingSecuritiesDebtFundedAmount_label_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities Debt Funded Amount</link:label>
    <link:label id="lab_ck0001893262_TradingSecuritiesDebtFundedAmount_documentation_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trading securities debt funded amount.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:href="ck0001893262-20260930.xsd#ck0001893262_TradingSecuritiesDebtFundedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:to="lab_ck0001893262_TradingSecuritiesDebtFundedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock_01a10d86-a84e-75c9-afba-d2b69321b401_terseLabel_en-US" xlink:label="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Estimated Future Amortization Intangibles</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets and Liabilities , Future Amortization Expense [Table Text Block]</link:label>
    <link:label id="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of finite-lived intangible assets and liabilities , future amortization expense.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:to="lab_ck0001893262_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TabularListTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tabular List, Table</link:label>
    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TabularListTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TabularListTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingExpensesDue_01a10d86-a84e-78b1-941d-ccf8dabcc1e6_terseLabel_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization and offering expenses due</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingExpensesDue_label_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization and offering expenses due</link:label>
    <link:label id="lab_ck0001893262_OrganizationAndOfferingExpensesDue_documentation_en-US" xlink:label="lab_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Organization and offering expenses due.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:href="ck0001893262-20260930.xsd#ck0001893262_OrganizationAndOfferingExpensesDue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:to="lab_ck0001893262_OrganizationAndOfferingExpensesDue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_01a10d86-a7a0-75c1-80a3-1b5c867afbfc_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income (loss), net</link:label>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense" xlink:to="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepositsAssets_01a10d86-a84e-7001-b212-b44de8a8bd71_terseLabel_en-US" xlink:label="lab_us-gaap_DepositsAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits on real estate</link:label>
    <link:label id="lab_us-gaap_DepositsAssets_label_en-US" xlink:label="lab_us-gaap_DepositsAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositsAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepositsAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsAssets" xlink:to="lab_us-gaap_DepositsAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_01a10d86-a84e-7f95-9033-d1ee3aab3b16_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_01a10d86-a84e-7171-8f3f-aa2ab2c663fc_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_01a10d86-a84e-722a-9e22-930f8ee5487e_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (remaining)</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RealizedGainLossOnFinancialInstruments_01a10d86-a7a0-7b6b-99c9-cde196eb438c_negatedLabel_en-US" xlink:label="lab_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Realized gain on financial instruments</link:label>
    <link:label id="lab_ck0001893262_RealizedGainLossOnFinancialInstruments_label_en-US" xlink:label="lab_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized Gain (Loss) on Financial Instruments</link:label>
    <link:label id="lab_ck0001893262_RealizedGainLossOnFinancialInstruments_documentation_en-US" xlink:label="lab_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Realized gain (loss) on financial instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RealizedGainLossOnFinancialInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:to="lab_ck0001893262_RealizedGainLossOnFinancialInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_terseLabel_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_label_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:to="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock_01a10d86-a84e-7120-b060-afda01541dc8_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Investments in Real Estate-related and Other Securities</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock" xlink:to="lab_us-gaap_TradingSecuritiesAndCertainTradingAssetsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate_01a10d86-a8ce-78cf-b91f-78660183b95d_negatedLabel_en-US" xlink:label="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capital improvements on real estate</link:label>
    <link:label id="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate_label_en-US" xlink:label="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Capital Improvements on Real Estate</link:label>
    <link:label id="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate_documentation_en-US" xlink:label="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments for capital Improvements on real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PaymentsForCapitalImprovementsOnRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:to="lab_ck0001893262_PaymentsForCapitalImprovementsOnRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings_01a10d86-a84e-7ccd-bf59-650a7cc090fd_terseLabel_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of proceeds from net monthly offerings</link:label>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings_label_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Proceeds From Net Monthly Offerings</link:label>
    <link:label id="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings_documentation_en-US" xlink:label="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of proceeds from net monthly offerings.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:href="ck0001893262-20260930.xsd#ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:to="lab_ck0001893262_PercentageOfProceedsFromNetMonthlyOfferings" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestTableTextBlock_01a10d86-a7a0-7be1-81d0-b28becc6c817_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Mandatorily Redeemable Instruments Activity Related to the Special Limited Partner</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestTableTextBlock_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RedeemableNoncontrollingInterestTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments_01a10d86-a7a0-773a-8e79-403916418740_terseLabel_en-US" xlink:label="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution expenses on mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments_label_en-US" xlink:label="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Expenses on Mandatorily Redeemable Instruments</link:label>
    <link:label id="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments_documentation_en-US" xlink:label="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution expenses on mandatorily redeemable instruments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:to="lab_ck0001893262_DistributionExpensesOnMandatorilyRedeemableInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_01a10d86-a7a0-7e13-b177-e0aada5c45d6_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_01a10d86-a7a0-7b7c-a6ec-8407b3500634_negatedLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_01a10d86-a84e-761a-b083-ef1cb6f4bcb2_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_BristolMember_01a10d86-a84e-744e-8ed6-9225e1186003_terseLabel_en-US" xlink:label="lab_ck0001893262_BristolMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6200 Bristol</link:label>
    <link:label id="lab_ck0001893262_BristolMember_label_en-US" xlink:label="lab_ck0001893262_BristolMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">6200 Bristol [Member]</link:label>
    <link:label id="lab_ck0001893262_BristolMember_documentation_en-US" xlink:label="lab_ck0001893262_BristolMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">6200 bristol.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_BristolMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_BristolMember"/>
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_01a10d86-a84e-7f68-a7eb-49fd081a38e9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value by Liability Class [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value by Liability Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
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    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAxis"/>
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    <link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_01a10d86-a84e-71f4-870e-b6d1c59bc229_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CMBS</link:label>
    <link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Mortgage-Backed Securities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommercialMortgageBackedSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:to="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ManagementFeesDueToAffiliates_01a10d86-a7a0-770c-a565-6636e7fc22aa_terseLabel_en-US" xlink:label="lab_ck0001893262_ManagementFeesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee</link:label>
    <link:label id="lab_ck0001893262_ManagementFeesDueToAffiliates_label_en-US" xlink:label="lab_ck0001893262_ManagementFeesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees Due To Affiliates</link:label>
    <link:label id="lab_ck0001893262_ManagementFeesDueToAffiliates_documentation_en-US" xlink:label="lab_ck0001893262_ManagementFeesDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management fees due to affiliates.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ManagementFeesDueToAffiliates" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ManagementFeesDueToAffiliates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ManagementFeesDueToAffiliates" xlink:to="lab_ck0001893262_ManagementFeesDueToAffiliates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_01a10d86-a84e-7261-8caa-f474c786ec39_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Loss) income allocated to redeemable non-controlling interest</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Redeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_01a10d86-a84e-7cfa-8a7f-81db9c607c7f_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingDesignationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationDomain" xlink:to="lab_us-gaap_HedgingDesignationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableLineItems_01a10d86-a84e-7f6f-aef2-6c57bc6fd525_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends Payable [Line Items]</link:label>
    <link:label id="lab_us-gaap_DividendsPayableLineItems_label_en-US" xlink:label="lab_us-gaap_DividendsPayableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableLineItems" xlink:to="lab_us-gaap_DividendsPayableLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableTable_01a10d86-a7a0-7f2c-a4ca-fa87301e9dd7_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends Payable [Table]</link:label>
    <link:label id="lab_us-gaap_DividendsPayableTable_label_en-US" xlink:label="lab_us-gaap_DividendsPayableTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableTable" xlink:to="lab_us-gaap_DividendsPayableTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_01a10d86-a84e-768d-9272-a13d15b268dd_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:to="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_AggtErrCompAmt_label_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompAmt" xlink:to="lab_ecd_AggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ClassesOfStock_01a10d86-a8ce-75be-96ef-662e21d9409c_terseLabel_en-US" xlink:label="lab_ck0001893262_ClassesOfStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of stock</link:label>
    <link:label id="lab_ck0001893262_ClassesOfStock_label_en-US" xlink:label="lab_ck0001893262_ClassesOfStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of Stock</link:label>
    <link:label id="lab_ck0001893262_ClassesOfStock_documentation_en-US" xlink:label="lab_ck0001893262_ClassesOfStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Classes of Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ClassesOfStock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ClassesOfStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ClassesOfStock" xlink:to="lab_ck0001893262_ClassesOfStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_01a10d86-a84e-7799-8b28-d28bcdeb4760_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits_01a10d86-a84e-71f5-98b8-3d2470ed1133_terseLabel_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of mandatorily redeemable instruments</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits_label_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Repurchase of Issuance of Units Limited Partners Units</link:label>
    <link:label id="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits_documentation_en-US" xlink:label="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from repurchase of issuance of units limited partners units.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:to="lab_ck0001893262_ProceedsFromRepurchaseOfIssuanceOfUnitsLimitedPartnersUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_01a10d86-a84e-7c9f-92bd-d56c864932a6_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_ReclassifiedLeases_01a10d86-a84e-7e94-b993-ba00d7ac0724_terseLabel_en-US" xlink:label="lab_ck0001893262_ReclassifiedLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassified leases</link:label>
    <link:label id="lab_ck0001893262_ReclassifiedLeases_label_en-US" xlink:label="lab_ck0001893262_ReclassifiedLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassified Leases</link:label>
    <link:label id="lab_ck0001893262_ReclassifiedLeases_documentation_en-US" xlink:label="lab_ck0001893262_ReclassifiedLeases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclassified Leases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ReclassifiedLeases" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ReclassifiedLeases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_ReclassifiedLeases" xlink:to="lab_ck0001893262_ReclassifiedLeases" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases_01a10d86-a84e-75fc-a925-d13f1d39705d_terseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Repurchases</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Repurchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetRepurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_01a10d86-a84f-7496-8bec-9bc742e0819b_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingDesignationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationAxis" xlink:to="lab_us-gaap_HedgingDesignationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseGross_01a10d86-a84e-7104-a60c-c987badf4358_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Below-market lease intangibles</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseGross_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseGross" xlink:to="lab_us-gaap_BelowMarketLeaseGross" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RepurchaseFacilityNet_01a10d86-a84e-75c7-b224-6f88cf3360e6_terseLabel_en-US" xlink:label="lab_ck0001893262_RepurchaseFacilityNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase facility, net</link:label>
    <link:label id="lab_ck0001893262_RepurchaseFacilityNet_label_en-US" xlink:label="lab_ck0001893262_RepurchaseFacilityNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Facility Net</link:label>
    <link:label id="lab_ck0001893262_RepurchaseFacilityNet_documentation_en-US" xlink:label="lab_ck0001893262_RepurchaseFacilityNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repurchase facility net.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RepurchaseFacilityNet" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RepurchaseFacilityNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RepurchaseFacilityNet" xlink:to="lab_ck0001893262_RepurchaseFacilityNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityAxis_01a10d86-a84e-7dc9-b7be-c4b52f16914a_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis" xlink:to="lab_us-gaap_CreditFacilityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_01a10d86-a7a0-7ada-b018-8bac0d2867be_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure" xlink:to="lab_us-gaap_AssetsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments_01a10d86-a84e-75f8-8a63-6c7fdebcc9f9_negatedLabel_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized (gain) loss on financial instruments</link:label>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments_label_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Financial Instruments</link:label>
    <link:label id="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments_documentation_en-US" xlink:label="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on financial instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:href="ck0001893262-20260930.xsd#ck0001893262_UnrealizedGainLossOnFinancialInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:to="lab_ck0001893262_UnrealizedGainLossOnFinancialInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureName_terseLabel_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_MeasureName_label_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureName" xlink:to="lab_ecd_MeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_01a10d86-a84e-7b05-b811-e7b37dc2660d_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_01a10d86-a8ce-76ca-9cbc-61b88199748a_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets_01a10d86-a84e-7a89-b919-1c89c6a8bea8_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Current Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherCurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTable_terseLabel_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure</link:label>
    <link:label id="lab_ecd_PvpTable_label_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTable" xlink:to="lab_ecd_PvpTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_01a10d86-a84e-7e46-98b2-c29590ded3f5_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-In Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_01a10d86-a84e-7658-8660-335589f15b7b_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation_01a10d86-a7a0-70b3-a68e-c5c9b724720b_terseLabel_en-US" xlink:label="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation_label_en-US" xlink:label="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building and Building Improvement Purchase Price Allocation</link:label>
    <link:label id="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation_documentation_en-US" xlink:label="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building and building improvement purchase price allocation.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:href="ck0001893262-20260930.xsd#ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:to="lab_ck0001893262_BuildingAndBuildingImprovementPurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_01a10d86-a7a0-75ba-b408-4aa765f996b8_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued expenses</link:label>
    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases_01a10d86-a84e-7000-800d-47d1ac2014ac_negatedTerseLabel_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases_label_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Repurchases</link:label>
    <link:label id="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases_documentation_en-US" xlink:label="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Repurchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:href="ck0001893262-20260930.xsd#ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:to="lab_ck0001893262_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityRepurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_01a10d86-a84e-7179-93e0-d0af501ad613_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfOwnedInIndustrialProperty_01a10d86-a84e-72ef-9121-40f0fdf03270_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of owned in industrial property</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedInIndustrialProperty_label_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Owned In Industrial Property</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedInIndustrialProperty_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of owned in industrial property.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfOwnedInIndustrialProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:to="lab_ck0001893262_NumberOfOwnedInIndustrialProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable_01a10d86-a84e-77cc-862b-d8a50c906b63_terseLabel_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary Of Significant Accounting Policies [Table]</link:label>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable_label_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summary Of Significant Accounting Policies [Table]</link:label>
    <link:label id="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable_documentation_en-US" xlink:label="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Summary of significant accounting policies.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:href="ck0001893262-20260930.xsd#ck0001893262_SummaryOfSignificantAccountingPoliciesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:to="lab_ck0001893262_SummaryOfSignificantAccountingPoliciesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_MortgageNotesPayable_01a10d86-a8ce-7a25-8fc1-1db04c599048_terseLabel_en-US" xlink:label="lab_ck0001893262_MortgageNotesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes, net</link:label>
    <link:label id="lab_ck0001893262_MortgageNotesPayable_01a10d86-a8ce-7560-961c-005ea9aad394_totalLabel_en-US" xlink:label="lab_ck0001893262_MortgageNotesPayable" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total debt secured by our properties</link:label>
    <link:label id="lab_ck0001893262_MortgageNotesPayable_label_en-US" xlink:label="lab_ck0001893262_MortgageNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Notes Payable</link:label>
    <link:label id="lab_ck0001893262_MortgageNotesPayable_documentation_en-US" xlink:label="lab_ck0001893262_MortgageNotesPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage notes payable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_MortgageNotesPayable" xlink:href="ck0001893262-20260930.xsd#ck0001893262_MortgageNotesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_MortgageNotesPayable" xlink:to="lab_ck0001893262_MortgageNotesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NondesignatedMember_01a10d86-a84e-74b9-a006-db9b6877c70d_terseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-designated Hedges</link:label>
    <link:label id="lab_us-gaap_NondesignatedMember_label_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NondesignatedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NondesignatedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NondesignatedMember" xlink:to="lab_us-gaap_NondesignatedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_01a10d86-a84e-7ec6-becf-0668fd0f4e87_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments, Debt and Equity Securities [Abstract]</link:label>
    <link:label id="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract_label_en-US" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments, Debt and Equity Securities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:to="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_01a10d86-a84e-7145-b26c-753654510f05_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationDepletionAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentMaturityDate_01a10d86-a84e-7bc8-8935-1227e2ec2800_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentMaturityDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Maturity Date</link:label>
    <link:label id="lab_us-gaap_InvestmentMaturityDate_label_en-US" xlink:label="lab_us-gaap_InvestmentMaturityDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Maturity Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentMaturityDate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentMaturityDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentMaturityDate" xlink:to="lab_us-gaap_InvestmentMaturityDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_01a10d86-a8ce-75ba-83de-79091b462304_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible liabilities, net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_01a10d86-a8ce-7e76-be09-4b54d5eb9341_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Intangible liabilities, net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeSwaptionInterestRate_01a10d86-a84e-7061-98cf-bf251df4136b_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeSwaptionInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Strike Rate</link:label>
    <link:label id="lab_us-gaap_DerivativeSwaptionInterestRate_label_en-US" xlink:label="lab_us-gaap_DerivativeSwaptionInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Swaption Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeSwaptionInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeSwaptionInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeSwaptionInterestRate" xlink:to="lab_us-gaap_DerivativeSwaptionInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_01a10d86-a84e-7800-9326-ce76417a68ae_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockByClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_01a10d86-a7a0-76c6-be0b-4cff7c8d2232_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_01a10d86-a7a0-7e59-9def-bf027665517f_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAbstract_01a10d86-a7a0-777c-b901-26887a82849f_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:label id="lab_us-gaap_RealEstateAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAbstract" xlink:to="lab_us-gaap_RealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLiabilities_01a10d86-a84e-7f95-802d-60505a786836_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_01a10d86-a84e-7f4c-88e9-4c5081b7121d_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps &#8211; Liability</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_01a10d86-a84e-7ec0-a95c-152f6242c971_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent_01a10d86-a8ce-7162-870a-95b21a834650_terseLabel_en-US" xlink:label="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease inducement asset</link:label>
    <link:label id="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent_label_en-US" xlink:label="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Inducement Asset Current and Noncurrent</link:label>
    <link:label id="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent_documentation_en-US" xlink:label="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease inducement asset current and noncurrent.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LeaseInducementAssetCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:to="lab_ck0001893262_LeaseInducementAssetCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NumberOfOwnedInRealEstateProperties_01a10d86-a84e-7b2e-8612-538889c782db_terseLabel_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of owned in real estate properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedInRealEstateProperties_label_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Owned In Real Estate Properties</link:label>
    <link:label id="lab_ck0001893262_NumberOfOwnedInRealEstateProperties_documentation_en-US" xlink:label="lab_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of owned in real estate properties.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NumberOfOwnedInRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:to="lab_ck0001893262_NumberOfOwnedInRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock_01a10d86-a84e-7dca-8776-81cbc9a17201_terseLabel_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Real Estate Debt</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock_label_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In Real Estate Debt [Text Block]</link:label>
    <link:label id="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in real estate debt.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_InvestmentsInRealEstateDebtTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:to="lab_ck0001893262_InvestmentsInRealEstateDebtTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest_01a10d86-a84e-7cf2-9e12-5e5c89e81c0e_verboseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net loss (including portion attributable to nonredeemable noncontrolling interest)</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount_01a10d86-a7a0-766d-b43e-33de2c0a1009_terseLabel_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of shares, amount</link:label>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount_01a10d86-a7a0-7488-8034-db53c102b4d7_negatedLabel_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchases</link:label>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount_label_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchases of Mandatorily Redeemable Instruments, Amount</link:label>
    <link:label id="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount_documentation_en-US" xlink:label="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repurchases of mandatorily redeemable instruments, amount.</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:to="lab_ck0001893262_RepurchasesOfMandatorilyRedeemableInstrumentsAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeRemainingMaturity1_01a10d86-a84e-7190-9944-2b4bfb16c5ce_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Maturity (Years)</link:label>
    <link:label id="lab_us-gaap_DerivativeRemainingMaturity1_label_en-US" xlink:label="lab_us-gaap_DerivativeRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Remaining Maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeRemainingMaturity1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeRemainingMaturity1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeRemainingMaturity1" xlink:to="lab_us-gaap_DerivativeRemainingMaturity1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_01a10d86-a84e-71e2-aeba-1dbcee4d42b1_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
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    <link:label id="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate_01a10d86-a8ce-7b78-bfb9-832a04665fed_terseLabel_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Coupon</link:label>
    <link:label id="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate_label_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities Weighted Average Coupon Rate</link:label>
    <link:label id="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate_documentation_en-US" xlink:label="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trading securities weighted average coupon rate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:href="ck0001893262-20260930.xsd#ck0001893262_TradingSecuritiesWeightedAverageCouponRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:to="lab_ck0001893262_TradingSecuritiesWeightedAverageCouponRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
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    <link:label id="lab_ck0001893262_ScheduleOfGrossCarryingAmountAndAccumulatedAmortizationOfTheCompanysIntangiblesAssetsAndLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_ck0001893262_ScheduleOfGrossCarryingAmountAndAccumulatedAmortizationOfTheCompanysIntangiblesAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of gross carrying amount and accumulated amortization intangibles assets and liabilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_ScheduleOfGrossCarryingAmountAndAccumulatedAmortizationOfTheCompanysIntangiblesAssetsAndLiabilitiesTableTextBlock" xlink:href="ck0001893262-20260930.xsd#ck0001893262_ScheduleOfGrossCarryingAmountAndAccumulatedAmortizationOfTheCompanysIntangiblesAssetsAndLiabilitiesTableTextBlock"/>
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    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_01a10d86-a84e-7ecd-b54a-1ecc59265feb_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VIEs</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_01a10d86-a7a0-75c7-a7a8-e50bd6b4640e_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_01a10d86-a84e-7237-aeda-91e368f31610_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_label_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompAnalysisTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompAnalysisTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompAnalysisTextBlock" xlink:to="lab_ecd_ErrCompAnalysisTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnamortizedDebtIssuanceExpense_01a10d86-a84e-7f36-9b05-34cd8b1c6bc4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnamortizedDebtIssuanceExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Unamortized deferred financing costs</link:label>
    <link:label id="lab_us-gaap_UnamortizedDebtIssuanceExpense_label_en-US" xlink:label="lab_us-gaap_UnamortizedDebtIssuanceExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unamortized Debt Issuance Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnamortizedDebtIssuanceExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnamortizedDebtIssuanceExpense"/>
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    <link:label id="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember_01a10d86-a8ce-7645-b20d-06e6d48cfadc_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discounted cash flow</link:label>
    <link:label id="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Technique, Discounted Cash Flow [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueDiscountedCashFlowMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ValuationTechniqueDiscountedCashFlowMember"/>
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    <link:label id="lab_us-gaap_StatementTable_01a10d86-a84e-787b-bc79-35ce387861dc_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
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    <link:label id="lab_us-gaap_AboveMarketLeasesMember_01a10d86-a84e-78e2-9515-0a242e9bf24a_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AboveMarketLeasesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AboveMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember" xlink:to="lab_us-gaap_AboveMarketLeasesMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
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    <link:label id="lab_us-gaap_InvestmentIncomeInterest_01a10d86-a84f-7366-9da1-da2e4dad915d_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentIncomeInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeInterest" xlink:to="lab_us-gaap_InvestmentIncomeInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_NeighborhoodShoppingCenterMember_01a10d86-a8ce-7e7d-989e-4541dd358753_terseLabel_en-US" xlink:label="lab_ck0001893262_NeighborhoodShoppingCenterMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Neighborhood Shopping Center</link:label>
    <link:label id="lab_ck0001893262_NeighborhoodShoppingCenterMember_label_en-US" xlink:label="lab_ck0001893262_NeighborhoodShoppingCenterMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Neighborhood Shopping Center [Member]</link:label>
    <link:label id="lab_ck0001893262_NeighborhoodShoppingCenterMember_documentation_en-US" xlink:label="lab_ck0001893262_NeighborhoodShoppingCenterMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Neighborhood Shopping Center</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_NeighborhoodShoppingCenterMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_NeighborhoodShoppingCenterMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_NeighborhoodShoppingCenterMember" xlink:to="lab_ck0001893262_NeighborhoodShoppingCenterMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_PaymentsToAcquireRealEstateExcludingDepositOnRealEstateAcquisition_01a10d86-a84e-7136-847f-a0e819c57595_negatedLabel_en-US" xlink:label="lab_ck0001893262_PaymentsToAcquireRealEstateExcludingDepositOnRealEstateAcquisition" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions of real estate</link:label>
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    <link:label id="lab_ck0001893262_PaymentsToAcquireRealEstateExcludingDepositOnRealEstateAcquisition_documentation_en-US" xlink:label="lab_ck0001893262_PaymentsToAcquireRealEstateExcludingDepositOnRealEstateAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments to acquire real estate excluding deposit on real estate acquisition.</link:label>
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    <link:label id="lab_us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual_01a10d86-a84e-7210-8692-7290dd177da0_terseLabel_en-US" xlink:label="lab_us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in sales-type leases, net</link:label>
    <link:label id="lab_us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual_label_en-US" xlink:label="lab_us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales-type Lease, Net Investment in Lease, Nonaccrual</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SalesTypeLeaseNetInvestmentInLeaseNonaccrual"/>
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    <link:label id="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock_01a10d86-a84e-73b5-a877-938e1369a8bc_terseLabel_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholder servicing fee per share of common stock (usd per share)</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock_label_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholder Servicing Fee Per Share of Common Stock</link:label>
    <link:label id="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock_documentation_en-US" xlink:label="lab_ck0001893262_StockholderServicingFeePerShareOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stockholder servicing fee per share of common stock</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromUnsecuredLinesOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromUnsecuredLinesOfCredit"/>
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    <link:label id="lab_us-gaap_FederalFundsEffectiveSwapRateMember_01a10d86-a84e-721e-80f8-168d786c1b60_terseLabel_en-US" xlink:label="lab_us-gaap_FederalFundsEffectiveSwapRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fed Funds Rate</link:label>
    <link:label id="lab_us-gaap_FederalFundsEffectiveSwapRateMember_label_en-US" xlink:label="lab_us-gaap_FederalFundsEffectiveSwapRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fed Funds Effective Rate Overnight Index Swap Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FederalFundsEffectiveSwapRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FederalFundsEffectiveSwapRateMember"/>
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    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_01a10d86-a84e-7078-a7b3-2ac723f502ee_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of Other Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount_01a10d86-a7a0-74c2-9d08-6706b7fdd749_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable non-controlling interest</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RedeemableNoncontrollingInterestEquityCommonCarryingAmount"/>
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable_01a10d86-a84e-7e2f-b58c-60130c917c67_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_RentalPropertyOperatingExpenses_01a10d86-a7a0-7f04-8869-6902fd5384de_terseLabel_en-US" xlink:label="lab_ck0001893262_RentalPropertyOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental property operating</link:label>
    <link:label id="lab_ck0001893262_RentalPropertyOperatingExpenses_label_en-US" xlink:label="lab_ck0001893262_RentalPropertyOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rental Property Operating Expenses</link:label>
    <link:label id="lab_ck0001893262_RentalPropertyOperatingExpenses_documentation_en-US" xlink:label="lab_ck0001893262_RentalPropertyOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Rental property operating expenses.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_RentalPropertyOperatingExpenses" xlink:href="ck0001893262-20260930.xsd#ck0001893262_RentalPropertyOperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001893262_RentalPropertyOperatingExpenses" xlink:to="lab_ck0001893262_RentalPropertyOperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember_01a10d86-a84e-7f8c-bf5f-b378c445d406_terseLabel_en-US" xlink:label="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Limited Partnership Agreement of JPMREIT</link:label>
    <link:label id="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember_label_en-US" xlink:label="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Partnership Agreement Of J P Morgan Real Estate Income Trust [Member]</link:label>
    <link:label id="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember_documentation_en-US" xlink:label="lab_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Limited Partnership Agreement Of J P Morgan Real Estate Income Trust.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember" xlink:href="ck0001893262-20260930.xsd#ck0001893262_LimitedPartnershipAgreementOfJPMorganRealEstateIncomeTrustMember"/>
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    <link:label id="lab_us-gaap_RevenuesAbstract_01a10d86-a8ce-7bc6-9ac4-86c8ea903c32_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenuesAbstract"/>
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    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_01a10d86-a7a0-71da-82fa-fae6339c5746_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract"/>
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