J.P. Morgan Real Estate Income Trust, Inc. Expands Portfolio with Acquisitions of Two Attainable Housing Assets

Whats Happening:

J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) has acquired two residential assets: The Preserve at Pine Valley in Wilmington, NC and Bass Lofts in Atlanta, GA. These acquisitions expand JPMREIT's portfolio of high-quality, attainable housing assets in high-growth markets, marking the fund's 5th and 6th investments in the residential sector.

Key Moves:

• JPMREIT acquires The Preserve at Pine Valley in Wilmington, NC for $32.1 million

• JPMREIT purchases Bass Lofts in Atlanta, GA for $34.8 million

• These acquisitions expand JPMREIT's residential portfolio to 6 investments

By The Numbers:

• The Preserve at Pine Valley: 219-unit, Class-B housing community

• Bass Lofts: 133-unit, Class-A multifamily property

• J.P. Morgan Asset Management oversees more than $400 billion in alternative assets

Key Quotes:

• "These acquisitions underscore our confidence in the residential sector and our belief in the continued growth and resilience of the housing market," - Chad Tredway, CEO and Chairperson of JPMREIT

• "The Sunbelt region is experiencing declining supply amidst continued population and wage growth, making it a focal point for our investment strategy," - Doug Schwartz, Co-President of JPMREIT

Bottom Line:

JPMREIT's strategic acquisitions in Wilmington and Atlanta demonstrate the fund's commitment to expanding its portfolio of high-quality, attainable housing assets in high-growth markets. These investments capitalize on the strong demand for rental properties and position JPMREIT to benefit from the recovery in rental rates across these submarkets.

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