J.P. Morgan Real Estate Income Trust 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	J.P. Morgan Real Estate Income Trust, Inc.
Entity Central Index Key	0001893262
Current Fiscal Year End Date	--12-31
Entity File Number	333-265588
Entity Tax Identification Number	87-3439916
Entity Address, Address Line One	277 Park Avenue
Entity Address, Address Line Two	9th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10172
City Area Code	212
Local Phone Number	270-6000
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	MD
Class E Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,147,020
Class D Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class I Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,963
Class S Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class T Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Investment in real estate debt	$ 16,825,000
Deposits on real estate	9,685,890
Cash and cash equivalents	2,733,509	$ 199,905
Other assets	2,163,280
Total assets	31,407,679	199,905
LIABILITIES AND EQUITY
Secured credit facility	4,000,000
Mandatorily redeemable Class E units	15,794,458
Due to affiliate	7,426,363
Accrued expenses and other liabilities	1,367,765
Total liabilities	28,588,586
Commitments and Contingencies (Note 12)
Equity
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized, 0 issued, and outstanding as of September 30, 2022 and December 31, 2021, respectively
Additional paid-in-capital	4,472,309	199,800
Accumulated deficit	(1,662,498)	(95)
Total equity	2,819,093	199,905
Total liabilities and equity	31,407,679	199,905
Class E Shares
Equity
Common stock	9,282	200
Class D Shares
Equity
Common stock
Class I Shares
Equity
Common stock
Class S Shares
Equity
Common stock
Class T Shares
Equity
Common stock

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Number of Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Class E Shares
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	928,223	20,000
Common Stock, Shares, Outstanding	928,223	20,000
Class D Shares
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0
Class I Shares
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0
Class S Shares
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0
Class T Shares
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	600,000,000	600,000,000
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Expenses
General and administrative	$ 1,530,818	$ 1,532,480
Total expenses	1,530,818	1,532,480
Other income (expense)
Income from investments in real estate debt	168,610	168,610
Other expenses	(297,730)	(298,533)
Total other expense	(129,120)	(129,923)
Net loss	(1,659,938)	(1,662,403)
Net loss attributable to JPMREIT stockholders, basic	(1,659,938)	(1,662,403)
Net loss attributable to JPMREIT stockholders, diluted	$ (1,659,938)	$ (1,662,403)
Net loss per share of common stock - basic	$ (1.79)	$ (4.74)
Net loss per share of common stock - diluted	$ (1.79)	$ (4.74)
Weighted-average shares of common stock outstanding - basic	928,223	350,567
Weighted-average shares of common stock outstanding - diluted	928,223	350,567

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Total	Common Stock Common Stock Class E	Additional Paid-In Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2021	$ 199,905	$ 200	$ 199,800	$ (95)
Net loss	(355)			(355)
Ending balance at Mar. 31, 2022	199,550	200	199,800	(450)
Beginning balance at Dec. 31, 2021	199,905	200	199,800	(95)
Ending balance at Sep. 30, 2022	2,819,093	9,282	4,472,309	(1,662,498)
Beginning balance at Mar. 31, 2022	199,550	200	199,800	(450)
Net loss	(2,110)			(2,110)
Common stock issued	9,082,234	9,082	9,073,152
Ending balance at Jun. 30, 2022	9,279,674	9,282	9,272,952	(2,560)
Net loss	(1,659,938)			(1,659,938)
Offering costs	(4,820,087)		(4,820,087)
Amortization of restricted stock grants	19,444		19,444
Ending balance at Sep. 30, 2022	$ 2,819,093	$ 9,282	$ 4,472,309	$ (1,662,498)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited)	9 Months Ended
	Sep. 30, 2022 USD ($)
CASH FLOW USED IN OPERATING ACTIVITIES
Net loss	$ (1,662,403)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Amortization of deferred financing costs	39,114
Amortization of restricted stock grants	19,444
Amortization of deferred expense	3,728
Unrealized loss on mandatorily redeemable Class E units	26,692
Change in assets and liabilities
Increase in other assets	(353,967)
Increase in due to affiliates	1,726,948
Increase in accrued expenses and other liabilities	274,938
Net cash used in operating activities	74,494
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchase of investment in real estate debt	(16,825,000)
Deposits on real estate acquisition	(9,435,890)
Net cash used in investing activities	(26,260,890)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance common stock	9,082,234
Proceeds from issuance of mandatorily redeemable financial instrument	15,767,766
Payment of deferred financing costs	(130,000)
Borrowings from credit facility	4,000,000
Net cash provided by financing activities	28,720,000
Net change in cash and cash equivalents	2,533,604
Cash and cash equivalents at beginning of period	199,905
Cash and cash equivalents at end of period	2,733,509
Non-cash investing and financing activities:
Accrued offering costs due to affiliates	4,820,087
Accrued acquisition costs	1,368,603
Accrued loan costs	353,552
Accrued deposits on real estate acquisitions	$ 250,000

Organization and Business Purpo

Organization and Business Purpose	9 Months Ended
	Sep. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Purpose	1. Organization and Business Purpose J.P. Morgan Real Estate Income Trust, Inc. (the “Company” or "JPMREIT") was formed on November 5, 2021 as a Maryland corporation and intends to qualify as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. The Company was organized to invest primarily in stabilized, income-generating real estate properties, and to a lesser extent, real estate debt and real estate-related securities. The Company is the sole general partner of J.P. Morgan REIT Operating Partnership, L.P., a Delaware limited partnership (“JPMREIT OP” or “Operating Partnership”). J.P. Morgan REIT OP Special Limited Partner, L.P. (the “Special Limited Partner”), an affiliate of J.P. Morgan Investment Management Inc. (the “Adviser” or “JPMIM” and together with its affiliates “J.P. Morgan”), owns a special limited partner interest in JPMREIT OP. Substantially all of the Company’s business is conducted through JPMREIT OP. The Company and JPMREIT OP are externally managed by JPMIM. As of September 30, 2022, the Company owned one real estate debt investment.

Capitalization

Capitalization	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Capitalization	2. Capitalization On July 6, 2022, the Company filed a Registration Statement on Form S-11 to register with the SEC an offering of up to $ 5.0 billion in shares of common stock, consisting of up to $ 4.0 billion in shares in its primary offering and up to $ 1 billion in shares pursuant to its distribution reinvestment plan (the “Offering”). The Company intends to sell any combination of four classes of shares of its common stock, Class T shares, Class S shares, Class D shares and Class I shares, with a dollar value up to the maximum offering amount. The share classes have different upfront selling commissions and ongoing stockholder servicing fees. The initial per share purchase price for the Company’s shares of common stock sold in its primary offering will be equal to the most recently determined net asset value (“NAV”) per share for the Class E common stock sold in the Company’s private offering (which is deemed to be $ 10.00 until the last calendar day of the month during which the Company makes its first investment), plus, for Class T shares, Class S shares and Class D shares only, applicable upfront selling commissions and dealer manager fees. Thereafter, the purchase price per share for each class of the Company’s common stock will vary and will generally equal the prior month’s NAV of the Company per share for such class, as determined monthly, plus any applicable upfront selling commissions and dealer manager fees. The Registration Statement on Form S-11 related to the Offering was declared effective by the SEC on July 22, 2022. On November 15, 2021, the Company was capitalized with a $ 0.2 million investment by the Adviser in exchange for 20,000 shares of the Company’s Class E common stock. The Adviser has agreed to not sell, transfer or dispose of the shares to any party other than an affiliate of the Adviser for so long as the Adviser or its affiliate performs an advisory function for the Company. Pursuant to a separate private offering, JPMIM has agreed to purchase $ 25 million in Class E common stock, par value $ 0.01 per share (“Class E shares”) or Class E units of the Operating Partnership (“Class E units”), or a combination thereof, and up to an additional $ 75 million in Class E shares or Class E units. As of September 30, 2022, the Company has received $ 157.60 million in commitments to purchase shares of its common stock and units in the Operating Partnership (“Operating Partnership units”), including the shares and units to be purchased by JPMIM, and has sold $ 25.05 million in Class E shares or Class E units from such commitments (collectively, the “Initial Capitalization”). The Company is not required to call all of the capital commitments made by investors pursuant to the Initial Capitalization prior to their expiration. JPMIM has agreed to hold all of the Class E shares and Class E units it purchases pursuant to its capital commitment as part of the Initial Capitalization (the “JPM Initial Capitalization”) until the earlier of (i) the first date that the Company’s NAV reaches $ 1.5 billion and (ii) July 22, 2025, the third anniversary of the commencement of the Offering. Following such date, each month the Company will repurchase, without further action by JPMIM (each, a “JPM Mandatory Repurchase”) (see Note 10), a number of Class E shares or Class E units from JPMIM in an amount equal to the amount available under the Company’s share repurchase plan’s 2 % monthly and 5 % quarterly caps after satisfying repurchase requests from investors who purchase shares pursuant to the Offering and other holders of shares that are otherwise subject to repurchase under the Company’s share repurchase plan, until such time as the JPM Initial Capitalization has been fully repurchased; provided, that the number of shares subject to each JPM Mandatory Repurchase may be reduced where other holders of the Company’s Class E shares that were issued pursuant to the Initial Capitalization and are not subject to repurchase under the Company’s share repurchase plan request repurchase of their shares, in which case the Class E shares held by JPMIM and such other investors will be repurchased on a pro rata basis based on their respective percentage ownership in the Company immediately prior to such repurchase (not to exceed an aggregate number of shares equal to the amount available under the Company’s share repurchase plan’s 2 % monthly and 5 % quarterly caps). Notwithstanding the foregoing, the Company will not affect any JPM Mandatory Repurchase during any month in which the full amount of all shares requested to be repurchased by stockholders other than JPMIM under the Company’s share repurchase plan is not repurchased or when the Company’s share repurchase plan has been suspended. In addition, subject to certain exceptions, where the shares of the Company’s common stock and Operating Partnership units owned by the Adviser, together with any such shares and units owned by the Adviser and its affiliates, including any shares or units issued in lieu of cash management fees payable to the Adviser or the performance participation payable to the Special Limited Partner (such aggregate ownership, the “JPM Interest”) represent a 24.99 % or lesser interest in the Company, the Company will, or will cause the JPMREIT OP to, automatically and without further action by the Adviser, repurchase or redeem, as applicable, an amount of shares or units from the Adviser as may be necessary to cause the JPM Interest to remain equal to or less than 24.99 % (each such repurchase or redemption, a “JPM Regulatory Repurchase”). To the extent the Adviser elects to receive its management fee in shares of the Company’s common stock or Operating Partnership units, the Company may repurchase those shares or units without regard to the limitations described above or the early repurchase deduction. On May 26, 2022, JPMIM’s Subscription Agreement dated February 23, 2022 for Class E shares or Class E units was amended to provide that, if the Company receives capital commitments from investors in the private placement of Class E shares exceeding $ 100 million (“Other Seed Investor Commitments”), JPMIM’s commitment may, in JPMIM’s discretion, be reduced by an amount equal to (i) the aggregate amount of Other Seed Investor Commitments, minus (ii) $ 100 million, provided that such reduction amount will not exceed $ 75 million. The amendment to the Subscription Agreement also provides that the expiration of the JPMIM commitment is August 23, 2023 , which is the 18-month anniversary of the date of the Subscription Agreement; provided, that following such date JPMIM may, in its discretion, elect to purchase additional Class E shares or Class E units until the earlier to occur of (i) July 22, 2025, the three-year anniversary of the date that the Company’s registration statement on Form S-11 with respect the Offering was declared effective by the SEC and (ii) the date that the Company’s NAV is at least $ 1.5 billion.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of the Company, and in the opinion of management, include all necessary adjustments, consisting of only normal and recurring items, necessary for a fair statement of the Company’s financial position and results of operations for the interim period. These financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and footnotes required by GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the Company’s Pre-Effective Amendment to its Registration Statement on Form S-11 filed with the SEC on July 6, 2022. All intercompany balances and transactions have been eliminated in consolidation. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. There is no comprehensive income (loss) so the statement of comprehensive income (loss) is not presented. Cash and Cash Equivalents Cash represents cash held in banks, cash on hand and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk exposure. The Company did not hold cash equivalents as of September 30, 2022 and December 31, 2021 . Investments in Real Estate Debt The Company’s investments in real estate debt consists of loans secured by real estate. The Company elected the fair value option (“FVO”) for its loans secured by real estate. The resulting unrealized gains and losses of such loans will be recorded as a component of income (loss) from investments in real estate debt on the Company’s Condensed Consolidated Statements of Operations. No unrealized gain or loss was recognized for the three and nine months ended September 30, 2022. Interest income from the Company’s investments in real estate debt is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. The accrual of interest income on mortgage loans is discontinued when in management’s opinion, the borrower may be unable to meet payments as they become due (“nonaccrual mortgage loans”), unless the loan is well-secured and is in the process of collection. Interest income on nonaccrual mortgage loans is subsequently recognized only to the extent cash payment are received until the loans are returned to accrual status. Interest income of $ 0.1 million was recognized for the three and nine months ended September 30, 2022 . Upfront costs and fees related to items for which the fair value option is elected shall be recognized in earnings as incurred and not deferred. Reimbursement of upfront costs of $ 0.1 million were recognized for the three and nine months ended September 30, 2022 . Such items are recorded as components of income from investments in real estate debt on the Company’s Condensed Consolidated Statements of Operations . Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchal framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the market place, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Valuation of assets and liabilities measured at fair value The Company’s investments in real estate debt are recorded at fair value. Certain of the Company's investments in real estate debt, such as mezzanine loans, are unlikely to have readily available market quotations. In such cases, the Company will generally determine the initial value based on the origination amount or acquisition price of such investment if acquired by the Company or the par value of such investment if originated by the Company. Following the initial measurement, the Company will determine fair value by utilizing or reviewing certain of the following inputs (i) market yield data, (ii) discounted cash flow modeling, (iii) collateral asset performance, (iv) local or macro real estate performance, (v) capital market conditions, (vi) debt yield or loan-to-value ratios and (vii) borrower financial condition and performance. As of September 30, 2022, the Company held one real estate debt investment which has been classified as Level 3. Fair value of the Company’s indebtedness is estimated by modeling the cash flows required by the Company’s debt agreements and discounting them back to the present value using an appropriate discount rate. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. The inputs used in determining the fair value of the Company’s indebtedness are considered Level 3. The fair values of the Company’s financial instruments, including cash, cash equivalents and other financial instruments, approximate their carrying or contract value. The following table details the Company’s assets and liabilities measured at fair value on a recurring basis: September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investment in real estate debt $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Total $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Liabilities: Mandatorily redeemable Class E units $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — Total $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs: Investment in Real Estate Debt Mandatorily Redeemable Class E Units Balance at December 31, 2021 $ — $ — Purchases 16,825,000 — Proceeds — 15,767,766 Included in net loss Unrealized loss included in other expenses — 26,692 Balance at September 30, 2022 $ 16,825,000 $ 15,794,458 The following tables contain the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy: September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Weighted Average Rate Impact to Valuation from an Increase in Input Assets: Investment in real estate debt $ 16,825,000 Cost Par N/A N/A Liabilities: Mandatorily redeemable Class E units $ 15,794,458 Discounted cash flow Discount rate/Exit capitalization rate/Market yield N/A Decrease Deferred Charges The Company’s deferred charges include financing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s Credit Facility are recorded as a component of other assets on the Company’s Condensed Consolidated Balance Sheets and amortized over the term of the financing agreement. Income Taxes The Company intends to make an election to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code commencing with its taxable year ending December 31, 2022. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes 90 % of its taxable income to its stockholders. REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of general and administrative on the Company’s Condensed Consolidated Statement of Operations and offering costs are charged to equity as such amounts are incurred. The Company recognized $ 0.7 million of organization costs for the three and nine months ended September 30, 2022 and $ 4.8 million of offering costs since inception. The Adviser will advance the Company’s organization and offering costs on behalf of the Company (including legal, accounting, and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through July 22, 2023, the first anniversary of the commencement of the Offering. The Company will reimburs e the Adviser for all such advanced costs ratably over a 60 month period following the first anniversary of the commencement of the Offering. As of September 30, 2022 , the Adviser and its affiliates had incurred organization and offering costs on the Company’s behalf of $ 5.5 million. These organization and offering costs were recorded as a component of due to affiliates in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2022 . Such costs became the Company’s liability on July 22, 2022, the date on which the Offering commenced. Operating Expenses The Adviser will advance on its behalf certain of the Company’s operating expenses through the earlier of (i) the first date that the Company’s NAV reaches $ 500 million and (ii) December 31, 2023. The Company will reimburse the Adviser for all such advanced operating expenses ratably over the 60 months following such date. Operating expenses incurred directly by the Company are expensed in the period incurred. Share Repurchases The Company has adopted a share repurchase plan, whereby on a monthly basis, stockholders may request that the Company repurchase all or any portion of their shares. The Company may choose to repurchase all, some or none of the shares that have been requested to be repurchased at the end of any particular month, in its discretion, subject to any limitations in the share repurchase plan. The total amount of aggregate repurchases of Class T, Class S, Class D, Class E and Class I shares will be limited to 2 % of the aggregate NAV per month and 5 % of the aggregate NAV per calendar quarter. Shares would be repurchased at a price equal to the transaction price on the applicable repurchase date, subject to any early repurchase deduction. Shares that have not been outstanding for at least one year would be repurchased at 98 % of the transaction price. Due to the illiquid nature of investments in real estate, the Company may not have sufficient liquid resources to fund repurchase requests and has established limitations on the amount of funds the Company may use for repurchases during any calendar month and quarter. Further, the Company may modify, suspend or terminate the share repurchase plan. Net Loss per Share of Common Stock Basic net loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock and common stock equivalents outstanding (unless their effect is anti-dilutive) for the period. There are no common stock equivalents outstanding that would have an anti-dilutive effect as a result of the net loss, and accordingly, the weighted average number of shares of common stock outstanding is identical for both basic and diluted shares.

Investments in Real Estate Debt

Investments in Real Estate Debt	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Investments in Real Estate Debt	4. Investments in Real Estate Debt On September 2, 2022, the Company acquired a $ 26.8 million mezzanine loan ("Mezzanine Loan") and, concurrent with the acquisition, sold a $ 10 million pari passu participation interest to an affiliate of the Adviser. The sale of the participating interest met the criteria to be classified as a sale, and not a financing, as the Company did not retain a controlling interest in the loan. The loan financed the acquisition of a garden-style multifamily property located in Murfreesboro, Tennessee. The Mezzanine Loan is an interest only loan and was fully funded as of the acquisition date. The interest rate is determined based on Secured Overnight Financing Rate ("SOFR") plus 5.22 %. The loan has a stated maturity of September 7, 2024 and includes up to three one-year extension options. The Mezzanine Loan's carrying value approximates the fair value.

Secured Credit Facility

Secured Credit Facility	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Secured Credit Facility	5. Secured Credit Facility During the three months ended September 30, 2022, the Company, as initial guarantor, and the Operating Partnership, as initial borrower, entered into a credit agreement (“Credit Agreement”) with U.S. Bank National Association (“U.S. Bank”). The Credit Agreement provides for aggregate commitments of up to $ 65 million for secured revolving loans and letter of credit issuances, with an accordion feature pursuant to which the Operating Partnership may increase the aggregate commitments up to $ 150 million, subject to the satisfaction of certain of certain conditions (the "Credit Facility"). Loans outstanding under the Credit Facility bear interest and line of credit fees, at the Operating Partnership's option, at either a relevant SOFR plus an applicable margin or a “base rate” equal to the higher of (i) zero and (ii) the sum of the Federal Funds Effective Rate plus 0.5 % per annum, plus the applicable margin. The applicable margin ranges from 1.55 % to 1.65 % for borrowings at a relevant SOFR rate determined under the terms of the Credit Facility, 1.55 % to 1.65 % for borrowings at a relevant “base rate” determined under the terms of the Credit Facility, or 1.55 % to 1.65 % for lines of credit, in each case, based on the borrowing as defined in the Credit Facility. Loans under the Credit Facility will mature on the earliest of (i) August 31, 2023 , (ii) ) the date an earlier termination pursuant to an event of default specified in the Credit Agreement occurs or (iii) the date of occurrence of other maturity date events specified in the Credit Agreement, unless extended pursuant to the terms of the Credit Agreement. There were $ 4 million of borrowings outstanding on the Credit Facility as of September 30, 2022. The carrying value of the Credit Facility approximates the fair value. The Operating Partnership anticipates repaying the outstanding principal balance of the Credit Facility at maturity which will require a payment of $ 4 million on or prior to August 31, 2023 unless the Operating Partnership exercises one or more extension options.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions The Company and the Operating Partnership entered into an advisory agreement with the Adviser on May 31, 2022. Pursuant to the advisory agreement, the Adviser is responsible for sourcing, evaluating and monitoring the Company’s investment opportunities and making decisions related to the acquisition, management, financing and disposition of the Company’s assets, in accordance with the Company’s investment objectives, guidelines, policies and limitations, subject to oversight by the Company’s board of directors. Certain affiliates of the Company, including the Adviser, will receive fees and compensation in connection with the ongoing management of the assets of the Company. The Adviser will be paid a management fee equal to 1.00 % of NAV per annum, payable monthly. The management fee will be paid, at the Adviser’s election, in cash, Class E Shares, or Class E Operating Partnership units. The Class E shares are not subject to the management fee. The Adviser has agreed to waive its management fee through December 31, 2022. The Company, as general partner, and Special Limited Partner entered into the Limited Partnership Agreement of JPMREIT OP on June 3, 2022 as amended on September 20, 2022. The Special Limited Partner holds a performance participation interest in JPMREIT OP that entitles it to receive an allocation from JPMREIT OP equal to 12.5 % of the annual Total Return, subject to a 5 % annual Hurdle Amount and a High Water Mark, with a Catch-Up (each term as defined in the JPMREIT OP limited partnership agreement). Such allocation will be measured on a calendar year basis, made quarterly and accrued monthly. The performance participation interest will not be paid on the Class E Operating Partnership units. J.P. Morgan Institutional Investments Inc. (the “Dealer Manager”) serves as the dealer manager for the Offering. The Dealer Manager is a registered broker-dealer affiliated with the Adviser. The Company entered into an agreement (the “Dealer Manager Agreement”) on June 8, 2022 with the Dealer Manager in connection with the Offering. The Dealer Manager is entitled to receive upfront selling commissions of up to 3.0 %, and upfront dealer manager fees of up to 0.5 %, of the transaction price of each Class T share sold in the primary offering, however such amounts may vary at certain participating broker-dealers provided that the sum will not exceed 3.5 % of the transaction price. The Dealer Manager is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each Class S share sold in the primary offering. The Dealer Manager is entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each Class D share sold in the primary offering. No upfront selling commissions or dealer manager fees will be paid with respect to purchases of Class I shares or shares of any class sold pursuant to the Company’s distribution reinvestment plan. The Dealer Manager also receives a stockholder servicing fee of 0.85 %, 0.85 % and 0.25 % per annum of the aggregate NAV of the Company’s outstanding Class T shares, Class S shares and Class D shares, respectively. The Company will cease paying the stockholder servicing fee with respect to any Class T share, Class S share or Class D share sold in the primary offering at the end of the month in which the total selling commissions, dealer manager fees and stockholder servicing fees paid with respect to such share would exceed 8.75 % (or, in the case of Class T shares sold through certain participating broker-dealers, a lower limit as set forth in any applicable agreement between the Dealer Manager and a participating broker-dealer) of the gross proceeds from the sale of such share (including the gross proceeds of any shares issued under the Company’s distribution reinvestment plan with respect thereto). At the end of such month, such Class T share, Class S share or Class D share (and any shares issued under the Company’s distribution reinvestment plan with respect thereto) will convert into a number of Class I shares (including any fractional shares) with an equivalent aggregate NAV of such share. The Company will accrue the cost of the stockholder servicing fee as an offering cost at the time each Class T, Class S and Class D share is sold during the primary offering. There is no stockholder servicing fee with respect to Class I shares. The Company may retain certain of the Adviser’s affiliates for necessary services relating to the Company’s investments or its operations, including any administrative services, construction, special servicing, leasing, development, property oversight and other property management services, as well as services related to mortgage servicing, group purchasing, healthcare, consulting/brokerage, capital markets/credit origination, loan servicing property, title or other types of insurance, management consulting and other similar operational matters. On May 31, 2022 and June 23, 2022, the Company sold 500,000 and 1,076,776 Class E Operating Partnership units to the Adviser for an aggregate purchase price of $ 5.0 million and $ 10.8 million, respectively. (See note 10) On July 22, 2022, the Company issued 4,464 shares of restricted Class E common stock to its independent directors in accordance with its independent director compensation plan. Given the restriction, the shares are not considered outstanding as of September 30, 2022. The Company’s obligations to pay stockholder servicing fees with respect to the Class T, Class S and Class D shares distributed in the Offering shall survive until such shares are no longer outstanding (including because such shares converted into Class I shares). On September 2, 2022, the Company acquired a $ 26.8 million Mezzanine Loan and, concurrent with the acquisition, sold a $ 10 million pari passu participation interest to an affiliate of the Adviser. (See note 4) Due to Affiliates The following table details the components of due to affiliates: September 30, 2022 December 31, 2021 Organization and offering costs $ 5,518,848 $ — Operating expenses 1,907,515 — Total $ 7,426,363 $ — Organization and offering costs The Adviser has advanced $ 5.5 million of organization and offering costs (including legal, accounting, and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) on behalf of the Company through September 30, 2022. The Adviser will advance the Company’s organization and offering costs on behalf of the Company (including legal, accounting, and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through July 22, 2023, the first anniversary of the commencement of the Offering. The Company will reimburs e the Adviser for all such advanced costs ratably over a 60 month period following the first anniversary of the commencement of the Offering. Operating expenses The Adviser has advanced $ 1.9 million o f operating expenses on the Company’s behalf as of September 30, 2022. The Company will reimburse the Adviser for all advanced operating expenses ratably over the 60 months starting the earlier of (i) the first date that the Company’s NAV reaches $ 500 million and (ii) December 31, 2023.

Economic Dependency

Economic Dependency	9 Months Ended
	Sep. 30, 2022
Risks And Uncertainties [Abstract]
Economic Dependency	7. Economic Dependency The Company is dependent on the Adviser and its affiliates for certain services that are essential to it, including the sale of the Company’s shares of common stock, acquisition and disposition decisions, and certain other responsibilities. In the event that the Adviser and its affiliates are unable or unwilling to provide such services, the Company would be required to find alternative service providers.

Other Assets and Liabilities

Other Assets and Liabilities	9 Months Ended
	Sep. 30, 2022
Other Assets and Liabilities [Abstract]
Other Assets and Liabilities	8. Other Assets and Liabilities The following table summarizes the components of other assets: September 30, 2022 December 31, 2021 Acquisition cost $ 1,368,603 $ — Deferred financing costs 444,438 — Prepaids 215,205 — Interest receivable 81,262 — Other assets 53,772 — Total $ 2,163,280 $ — The following table summarizes the components of accrued expenses and other liabilities: September 30, 2022 December 31, 2021 Accrued expenses $ 1,117,765 $ — Deposits payable 250,000 — Total $ 1,367,765 $ —

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	9. Equity Authorized Capital The Company is authorized to issue preferred stock and five classes of common stock consisting of Class E, Class T shares, Class S shares, Class D shares, and Class I shares. The differences among the common share classes relate to upfront selling commissions and ongoing stockholder servicing fees. See Note 2 for additional detail of each share class. As of September 30, 2022 , the Company had authority to issue 3.1 billion shares, consisting of the following: Classification Number of Shares Par Value Class E Shares 600,000,000 $ 0.01 Class D Shares 600,000,000 $ 0.01 Class I Shares 600,000,000 $ 0.01 Class S Shares 600,000,000 $ 0.01 Class T Shares 600,000,000 $ 0.01 Preferred Stock 100,000,000 $ 0.01 Total 3,100,000,000 Common Stock As of September 30, 2022, the Company had sold 928,223 shares of its common stock in the Offering for aggregate net proceeds of $ 9.28 million. The following table details the movement in the Company’s outstanding shares of common stock: Nine Months Ended September 30, 2022 Class E Class D Class I Class S Class T Beginning balance, December 31 2021: 20,000 - - - - Common stock issued 908,223 - - - - Ending balance, September 30, 2022 928,223 - - - -

Mandatorily Redeemable Class E

Mandatorily Redeemable Class E Units	9 Months Ended
	Sep. 30, 2022
Partners' Capital Notes [Abstract]
Mandatorily Redeemable Class E Units	10. Mandatorily Redeemable Class E Units The Company sold 500,000 and 1,076,776 of Class E Operating Partnership units to JPMIM in exchange for investments of $ 5.0 million and $ 10.8 million on May 31, 2022, and June 23, 2022, respectively. As the sole investor in Class E units of the Operating Partnership, JPMIM's interest does not have any voting rights but is entitled to receive distributions at the same rate applicable to other classes of units. Operating Partnership units also carry a protective exchange feature whereby in a liquidation, dilution or winding up, each unit will convert into a number of Class I units (or fraction thereof) with an equivalent NAV. Such feature is designed to carry over NAV into a new form of security immediately prior to liquidation and is not deemed a substantive conversion feature as it is only applicable upon liquidation or upon a listing event which is not the intent of this non-traded REIT structure. The Class E units held by JPMIM are mandatorily redeemable, and only subject to delays to the continuous obligation to ultimately redeem the Class E units once sufficient availability exists under share repurchase agreements. Therefore, the Class E units held by JPMIM are classified as a liability pursuant to Topic 480 — Distinguishing Liabilities from Equity and is presented as “mandatorily redeemable Class E units” at the initial funding amount received, which is equivalent to fair value at the issuance dates. Subsequently, the mandatorily redeemable Class E units are carried at its cash redemption value as if the unit were repurchased or redeemable at the reporting date, which equals NAV per unit. The changes in carrying value (changes in NAV per unit) are classified as other income or expense along with any cash distributions paid. The Company recorded an unrealized loss of $ 0.03 million for the three and nine months ended September 30, 2022 which is included in other expenses in the Condensed Consolidated Statement of Operations.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per Share The Company's net loss and weighted average number of shares outstanding for the three and nine months ended September 30, 2022 consist of the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2022 Net loss attributable to JPMREIT stockholders $ ( 1,659,938 ) $ ( 1,662,403 ) Weighted-average shares of Class E common stock outstanding, basic and diluted 928,223 350,567 The calculation of basic and diluted net loss per share amounts for the three and nine months ended September 30, 2022 consist of the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2022 Basic and Diluted Net Loss per Share Attributable to JPMREIT Stockholders Numerator: Net loss attributable to JPMREIT stockholders $ ( 1,659,938 ) $ ( 1,662,403 ) Denominator: Weighted-average shares of Class E common stock outstanding 928,223 350,567 Basic and diluted net loss per share of Class E common stock $ ( 1.79 ) $ ( 4.74 ) For the three and nine months ended September 30, 2022, unissued Class E common shares awarded to the Company's independent directors are excluded from the calculation of diluted EPS as the inclusion of such potential common shares in the calculation would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies On June 10, 2022, the Company entered into a forward purchase and sale agreement to acquire a truck terminal facility under development on 50.3 acres of land in Garden City, Georgia (the “Truck Terminal Facility”) for an aggregate purchase price, exclusive of closing costs, of $ 73.2 million. The seller of the Truck Terminal Facility is not affiliated with the Company, the Adviser or their affiliates. It is expected that the acquisition of the Truck Terminal Facility will be funded in part with the proceeds of a mortgage loan secured by the Truck Terminal Facility, to be obtained upon the closing of the acquisition. The Company expects the balance of the purchase price to be funded with the proceeds from the sale of shares of its common stock. The Truck Terminal Facility is currently under development by the seller and will be completed prior to acquisition. The Company expects to close the acquisition of the Truck Terminal Facility in the second quarter of 2023. The acquisition of the Truck Terminal Facility is subject to the satisfaction of a number of customary closing conditions, including the delivery of the completed Truck Terminal Facility. The Truck Terminal Facility is a forward purchase commitment and the Company anticipates the funding schedule, inclusive of deposits and due diligence funding, to require payments of $ 0.8 million in 2022 and $ 67.2 million in 2023. From time to time, the Company may be involved in various claims and legal actions arising in the ordinary course of business. As of September 30, 2022 , the Company was not involved in any material legal proceedings.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On October 3, 2022, November 1, 2022 and November 8, 2022, the Company issued 184,250 , 7,487 and 1,021,624 unregistered Class E shares at a price per share of $ 10.00 , $ 10.02 and $ 10.02 to accredited investors in a private placement for an aggregate purchase price of $ 1.8 million, $ 0.08 million and $ 10.2 million, respectively. In addition, on November 8, 2022 the Company issued 1,773,652 Class E units to JPMIM for gross offering proceeds of $ 17.8 million. The offer and sale of these shares was exempt from the registration provisions of the Securities Act of 1933, as amended, by virtue of Section 4(a)(2) and Regulation D thereof as they were not part of any public offering and did not involve any general solicitation or general advertising. On October 3, 2022 and October 13, 2022, and in accordance with the director compensation plan, the Company issued 972 shares of unregistered Class E common stock and made a cash payment of $ 0.03 million, respectively, to its independent directors. As part of the Offering, on November 1, 2022, the Company issued 21,963 Class I shares at a price per share of $ 10.02 for an aggregate purchase price of $ 0.22 million. On October 7, 2022 the Company acquired a 9.7 -acre industrial outdoor storage site located in the greater Philadelphia metropolitan area (the “IOS Facility”) for an aggregate purchase price of $ 19.7 million, exclusive of closing costs. The acquisition was funded with the proceeds from the sale of shares and borrowings from the Credit Facility (see note 5) of $ 16.0 million. The Company increased its borrowings under the Credit Facility on October 5, 2022 in order to fund the acquisition of the IOS Facility. The Company evaluated subsequent events through the issuance date of the financial statements, and determined that except as otherwise disclosed herein there were no additional material subsequent events requiring disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of preparation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of the Company, and in the opinion of management, include all necessary adjustments, consisting of only normal and recurring items, necessary for a fair statement of the Company’s financial position and results of operations for the interim period. These financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and footnotes required by GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the Company’s Pre-Effective Amendment to its Registration Statement on Form S-11 filed with the SEC on July 6, 2022. All intercompany balances and transactions have been eliminated in consolidation. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. There is no comprehensive income (loss) so the statement of comprehensive income (loss) is not presented.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash represents cash held in banks, cash on hand and liquid investments with original maturities of three months or less. The Company may have bank balances in excess of federally insured amounts; however, the Company deposits its cash and cash equivalents with high credit-quality institutions to minimize credit risk exposure. The Company did not hold cash equivalents as of September 30, 2022 and December 31, 2021 .
Investments in real estate debt	Investments in Real Estate Debt The Company’s investments in real estate debt consists of loans secured by real estate. The Company elected the fair value option (“FVO”) for its loans secured by real estate. The resulting unrealized gains and losses of such loans will be recorded as a component of income (loss) from investments in real estate debt on the Company’s Condensed Consolidated Statements of Operations. No unrealized gain or loss was recognized for the three and nine months ended September 30, 2022. Interest income from the Company’s investments in real estate debt is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of premiums and discounts associated with these investments is deferred and recorded over the term of the investment as an adjustment to yield. The accrual of interest income on mortgage loans is discontinued when in management’s opinion, the borrower may be unable to meet payments as they become due (“nonaccrual mortgage loans”), unless the loan is well-secured and is in the process of collection. Interest income on nonaccrual mortgage loans is subsequently recognized only to the extent cash payment are received until the loans are returned to accrual status. Interest income of $ 0.1 million was recognized for the three and nine months ended September 30, 2022 . Upfront costs and fees related to items for which the fair value option is elected shall be recognized in earnings as incurred and not deferred. Reimbursement of upfront costs of $ 0.1 million were recognized for the three and nine months ended September 30, 2022 . Such items are recorded as components of income from investments in real estate debt on the Company’s Condensed Consolidated Statements of Operations
Fair Value Measurements	Fair Value Measurements Under normal market conditions, the fair value of an investment is the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Additionally, there is a hierarchal framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and the state of the market place, including the existence and transparency of transactions between market participants. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy: Level 1 — quoted prices are available in active markets for identical investments as of the measurement date. The Company does not adjust the quoted price for these investments. Level 2 — quoted prices are available in markets that are not active or model inputs are based on inputs that are either directly or indirectly observable as of the measurement date. Level 3 — pricing inputs are unobservable and include instances where there is minimal, if any, market activity for the investment. These inputs require significant judgment or estimation by management or third parties when determining fair value and generally represent anything that does not meet the criteria of Levels 1 and 2. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Valuation of assets and liabilities measured at fair value The Company’s investments in real estate debt are recorded at fair value. Certain of the Company's investments in real estate debt, such as mezzanine loans, are unlikely to have readily available market quotations. In such cases, the Company will generally determine the initial value based on the origination amount or acquisition price of such investment if acquired by the Company or the par value of such investment if originated by the Company. Following the initial measurement, the Company will determine fair value by utilizing or reviewing certain of the following inputs (i) market yield data, (ii) discounted cash flow modeling, (iii) collateral asset performance, (iv) local or macro real estate performance, (v) capital market conditions, (vi) debt yield or loan-to-value ratios and (vii) borrower financial condition and performance. As of September 30, 2022, the Company held one real estate debt investment which has been classified as Level 3. Fair value of the Company’s indebtedness is estimated by modeling the cash flows required by the Company’s debt agreements and discounting them back to the present value using an appropriate discount rate. Additionally, the Company considers current market rates and conditions by evaluating similar borrowing agreements with comparable loan-to-value ratios and credit profiles. The inputs used in determining the fair value of the Company’s indebtedness are considered Level 3. The fair values of the Company’s financial instruments, including cash, cash equivalents and other financial instruments, approximate their carrying or contract value. The following table details the Company’s assets and liabilities measured at fair value on a recurring basis: September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investment in real estate debt $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Total $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Liabilities: Mandatorily redeemable Class E units $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — Total $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs: Investment in Real Estate Debt Mandatorily Redeemable Class E Units Balance at December 31, 2021 $ — $ — Purchases 16,825,000 — Proceeds — 15,767,766 Included in net loss Unrealized loss included in other expenses — 26,692 Balance at September 30, 2022 $ 16,825,000 $ 15,794,458 The following tables contain the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy: September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Weighted Average Rate Impact to Valuation from an Increase in Input Assets: Investment in real estate debt $ 16,825,000 Cost Par N/A N/A Liabilities: Mandatorily redeemable Class E units $ 15,794,458 Discounted cash flow Discount rate/Exit capitalization rate/Market yield N/A Decrease
Deferred Charges	Deferred Charges The Company’s deferred charges include financing costs. Deferred financing costs include legal, structuring, and other loan costs incurred by the Company for its financing agreements. Deferred financing costs related to the Company’s Credit Facility are recorded as a component of other assets on the Company’s Condensed Consolidated Balance Sheets and amortized over the term of the financing agreement.
Income Taxes	Income Taxes The Company intends to make an election to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code commencing with its taxable year ending December 31, 2022. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal corporate income tax to the extent it distributes 90 % of its taxable income to its stockholders. REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Organization and Offering Costs	Organization and Offering Costs Organization costs are expensed as incurred and recorded as a component of general and administrative on the Company’s Condensed Consolidated Statement of Operations and offering costs are charged to equity as such amounts are incurred. The Company recognized $ 0.7 million of organization costs for the three and nine months ended September 30, 2022 and $ 4.8 million of offering costs since inception. The Adviser will advance the Company’s organization and offering costs on behalf of the Company (including legal, accounting, and other expenses attributable to the Company’s organization, but excluding upfront selling commissions, dealer manager fees and stockholder servicing fees) through July 22, 2023, the first anniversary of the commencement of the Offering. The Company will reimburs e the Adviser for all such advanced costs ratably over a 60 month period following the first anniversary of the commencement of the Offering. As of September 30, 2022 , the Adviser and its affiliates had incurred organization and offering costs on the Company’s behalf of $ 5.5 million. These organization and offering costs were recorded as a component of due to affiliates in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2022 . Such costs became the Company’s liability on July 22, 2022, the date on which the Offering commenced.
Operating Expenses	Operating Expenses The Adviser will advance on its behalf certain of the Company’s operating expenses through the earlier of (i) the first date that the Company’s NAV reaches $ 500 million and (ii) December 31, 2023. The Company will reimburse the Adviser for all such advanced operating expenses ratably over the 60 months following such date. Operating expenses incurred directly by the Company are expensed in the period incurred.
Share Repurchases	Share Repurchases The Company has adopted a share repurchase plan, whereby on a monthly basis, stockholders may request that the Company repurchase all or any portion of their shares. The Company may choose to repurchase all, some or none of the shares that have been requested to be repurchased at the end of any particular month, in its discretion, subject to any limitations in the share repurchase plan. The total amount of aggregate repurchases of Class T, Class S, Class D, Class E and Class I shares will be limited to 2 % of the aggregate NAV per month and 5 % of the aggregate NAV per calendar quarter. Shares would be repurchased at a price equal to the transaction price on the applicable repurchase date, subject to any early repurchase deduction. Shares that have not been outstanding for at least one year would be repurchased at 98 % of the transaction price. Due to the illiquid nature of investments in real estate, the Company may not have sufficient liquid resources to fund repurchase requests and has established limitations on the amount of funds the Company may use for repurchases during any calendar month and quarter. Further, the Company may modify, suspend or terminate the share repurchase plan.
Net Loss per Share of Common Stock	Net Loss per Share of Common Stock Basic net loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock and common stock equivalents outstanding (unless their effect is anti-dilutive) for the period. There are no common stock equivalents outstanding that would have an anti-dilutive effect as a result of the net loss, and accordingly, the weighted average number of shares of common stock outstanding is identical for both basic and diluted shares.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of company's assets and liabilities measured at fair value on a recurring basis	The following table details the Company’s assets and liabilities measured at fair value on a recurring basis: September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Investment in real estate debt $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Total $ — $ — $ 16,825,000 $ 16,825,000 $ — $ — $ — $ — Liabilities: Mandatorily redeemable Class E units $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — Total $ — $ — $ 15,794,458 $ 15,794,458 $ — $ — $ — $ — The following table details the Company’s assets and liabilities measured at fair value on a recurring basis using Level 3 inputs: Investment in Real Estate Debt Mandatorily Redeemable Class E Units Balance at December 31, 2021 $ — $ — Purchases 16,825,000 — Proceeds — 15,767,766 Included in net loss Unrealized loss included in other expenses — 26,692 Balance at September 30, 2022 $ 16,825,000 $ 15,794,458
Schedule of quantitative inputs and assumptions	The following tables contain the quantitative inputs and assumptions used for items categorized in Level 3 of the fair value hierarchy: September 30, 2022 Fair Value Valuation Technique Unobservable Inputs Weighted Average Rate Impact to Valuation from an Increase in Input Assets: Investment in real estate debt $ 16,825,000 Cost Par N/A N/A Liabilities: Mandatorily redeemable Class E units $ 15,794,458 Discounted cash flow Discount rate/Exit capitalization rate/Market yield N/A Decrease

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Components of Due to Affiliates	The following table details the components of due to affiliates: September 30, 2022 December 31, 2021 Organization and offering costs $ 5,518,848 $ — Operating expenses 1,907,515 — Total $ 7,426,363 $ —

Other Assets and Liabilities (T

Other Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Other Assets and Liabilities [Abstract]
Components of Other Assets	The following table summarizes the components of other assets: September 30, 2022 December 31, 2021 Acquisition cost $ 1,368,603 $ — Deferred financing costs 444,438 — Prepaids 215,205 — Interest receivable 81,262 — Other assets 53,772 — Total $ 2,163,280 $ —
Components of Accrued Expenses and Other Liabilities	The following table summarizes the components of accrued expenses and other liabilities: September 30, 2022 December 31, 2021 Accrued expenses $ 1,117,765 $ — Deposits payable 250,000 — Total $ 1,367,765 $ —

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Number of Shares Authorized and Par Value	As of September 30, 2022 , the Company had authority to issue 3.1 billion shares, consisting of the following: Classification Number of Shares Par Value Class E Shares 600,000,000 $ 0.01 Class D Shares 600,000,000 $ 0.01 Class I Shares 600,000,000 $ 0.01 Class S Shares 600,000,000 $ 0.01 Class T Shares 600,000,000 $ 0.01 Preferred Stock 100,000,000 $ 0.01 Total 3,100,000,000
Schedule of Outstanding Shares of Common Stock	The following table details the movement in the Company’s outstanding shares of common stock: Nine Months Ended September 30, 2022 Class E Class D Class I Class S Class T Beginning balance, December 31 2021: 20,000 - - - - Common stock issued 908,223 - - - - Ending balance, September 30, 2022 928,223 - - - -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Net Loss and Weighted Average Number of Shares Outstanding	The Company's net loss and weighted average number of shares outstanding for the three and nine months ended September 30, 2022 consist of the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2022 Net loss attributable to JPMREIT stockholders $ ( 1,659,938 ) $ ( 1,662,403 ) Weighted-average shares of Class E common stock outstanding, basic and diluted 928,223 350,567
Schedule of Computations of Basic and Diluted Net Loss per Share	The calculation of basic and diluted net loss per share amounts for the three and nine months ended September 30, 2022 consist of the following: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2022 2022 Basic and Diluted Net Loss per Share Attributable to JPMREIT Stockholders Numerator: Net loss attributable to JPMREIT stockholders $ ( 1,659,938 ) $ ( 1,662,403 ) Denominator: Weighted-average shares of Class E common stock outstanding 928,223 350,567 Basic and diluted net loss per share of Class E common stock $ ( 1.79 ) $ ( 4.74 )

Organization and Business Pur_2

Organization and Business Purpose - Additional Information (Details)	Sep. 30, 2022 Position
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of position owned in real estate debt investment	1

Capitalization - Additional Inf

Capitalization - Additional Information (Details) - USD ($)			3 Months Ended	9 Months Ended
	Nov. 08, 2022	May 26, 2022	Jun. 30, 2022	Sep. 30, 2022	Jul. 06, 2022	Dec. 31, 2021	Nov. 15, 2021
Schedule Of Capitalization [Line Items]
Net asset value per share					$ 10
Common stock issued			$ 9,082,234
Gross offering proceeds				$ 9,082,234
Private offering cost				$ 15,767,766
Amendment to Subscription Agreement
Schedule Of Capitalization [Line Items]
Expiration date of subscription agreement		Aug. 23, 2023
Class E Shares
Schedule Of Capitalization [Line Items]
Common Stock, Shares, Issued				928,223		20,000
Common stock par value				$ 0.01		$ 0.01
Adviser
Schedule Of Capitalization [Line Items]
Capitalized investment							$ 200,000
Commitment received to purchase shares of common stock				$ 157,600,000
Net asset value				$ 1,500,000,000
Share repurchase plan, monthly				2%
Share repurchase plan, quarterly				5%
Adviser | Maximum
Schedule Of Capitalization [Line Items]
Maximum allowable ownership interest percentage				24.99%
Adviser | Amendment to Subscription Agreement
Schedule Of Capitalization [Line Items]
Net asset value		$ 1,500,000,000
Adviser | Class E Shares
Schedule Of Capitalization [Line Items]
Common Stock, Shares, Issued							20,000
Commitment to purchase common stock value							$ 25,000,000
Commitment to purchase additional common stock value							$ 75,000,000
Common stock issued				$ 25,050,000
Common stock par value							$ 0.01
Adviser | Class E Shares | Subsequent Event
Schedule Of Capitalization [Line Items]
Gross offering proceeds	$ 17,800,000
Adviser | Common Stock Class E
Schedule Of Capitalization [Line Items]
Share repurchase plan, monthly				2%
Share repurchase plan, quarterly				5%
Adviser | Common Stock Class E | Amendment to Subscription Agreement
Schedule Of Capitalization [Line Items]
Capital commitments from investors		100,000,000
Maximum capital commitments		$ 75,000,000
Primary Offering
Schedule Of Capitalization [Line Items]
Common stock, shares registered, amount					$ 5,000,000,000
Common stock, shares authorized, amount					4,000,000,000
Distribution Reinvestment Plan
Schedule Of Capitalization [Line Items]
Common stock, shares authorized, amount					$ 1,000,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($) Mezzanine Loan	Sep. 30, 2022 USD ($) Mezzanine Loan
Summary Of Significant Accounting Policies [Line Items]
Unrealized gain or loss on investment.	$ 0	$ 0
Interest income	100,000	100,000
Reimbursement of upfront costs	$ 100,000	$ 100,000
Minimum REIT Distribution Percentage	90%	90%
Period for reimbursement of advance expenses		60 months
Period for reimbursement of advance costs		60 months
Organization costs	$ 700,000	$ 700,000
Offering costs	4,800,000	4,800,000
Due to affiliates	$ 7,426,363	$ 7,426,363
Period for reimbursement of operating expenses		60 months
Percentage of total amount of aggregate of repurchase	98%	98%
Level 3
Summary Of Significant Accounting Policies [Line Items]
Number of investment in mezzanine loan held | Mezzanine Loan	1	1
Common Stock Class T
Summary Of Significant Accounting Policies [Line Items]
Repurchase plan restriction limited to percentage of net asset value per month	2%	2%
Repurchase plan restriction limited to percentage of net asset value per quarter	5%	5%
Common Stock Class S
Summary Of Significant Accounting Policies [Line Items]
Repurchase plan restriction limited to percentage of net asset value per month	2%	2%
Repurchase plan restriction limited to percentage of net asset value per quarter	5%	5%
Common Stock Class D
Summary Of Significant Accounting Policies [Line Items]
Repurchase plan restriction limited to percentage of net asset value per month	2%	2%
Repurchase plan restriction limited to percentage of net asset value per quarter	5%	5%
Common Stock Class E
Summary Of Significant Accounting Policies [Line Items]
Repurchase plan restriction limited to percentage of net asset value per month	2%	2%
Repurchase plan restriction limited to percentage of net asset value per quarter	5%	5%
Common Stock Class I
Summary Of Significant Accounting Policies [Line Items]
Repurchase plan restriction limited to percentage of net asset value per month	2%	2%
Repurchase plan restriction limited to percentage of net asset value per quarter	5%	5%
Adviser
Summary Of Significant Accounting Policies [Line Items]
Due to affiliates	$ 5,500,000	$ 5,500,000
Net asset value	$ 500,000,000	$ 500,000,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring Basis	Sep. 30, 2022 USD ($)
Assets, Fair Value Disclosure [Abstract]
Investments, fair value disclosure	$ 16,825,000
Liabilities, Fair Value Disclosure [Abstract]
Equity, fair value disclosure	15,794,458
Level 3
Assets, Fair Value Disclosure [Abstract]
Investments, fair value disclosure	16,825,000
Liabilities, Fair Value Disclosure [Abstract]
Equity, fair value disclosure	15,794,458
Mandatorily Redeemable Class E Units
Liabilities, Fair Value Disclosure [Abstract]
Equity, fair value disclosure	15,794,458
Mandatorily Redeemable Class E Units | Level 3
Liabilities, Fair Value Disclosure [Abstract]
Equity, fair value disclosure	15,794,458
Investment in Real Estate Debt
Assets, Fair Value Disclosure [Abstract]
Investments, fair value disclosure	16,825,000
Investment in Real Estate Debt | Level 3
Liabilities, Fair Value Disclosure [Abstract]
Equity, fair value disclosure	$ 16,825,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis Using Level 3 (Details) - Recurring Basis - Level 3	9 Months Ended
	Sep. 30, 2022 USD ($)
Mandatorily Redeemable Class E Units
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Proceeds	$ 15,767,766
Unrealized loss included in other expenses	26,692
Balance at September 30, 2022	15,794,458
Investment in Real Estate Debt
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	16,825,000
Balance at September 30, 2022	$ 16,825,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Quantitative Inputs and Assumptions (Details) - Level 3	Sep. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in real estate loan	$ 16,825,000
Investment in real estate loan, Valuation Technique [Extensible Enumeration]	us-gaap:CostApproachValuationTechniqueMember
Investment in real estate loan, Measurement Input [Extensible Enumeration]	us-gaap:MeasurementInputQuotedPriceMember
Mandatorily redeemable Class E units	$ 15,794,458
Mandatorily redeemable Class E units, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Mandatorily redeemable Class E units, Measurement Input [Extensible Enumeration]	us-gaap:MeasurementInputDiscountRateMember

Investments in Real Estate De_2

Investments in Real Estate Debt - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	Sep. 02, 2022	Sep. 30, 2022
Tennessee Facility
Asset Acquisition [Line Items]
Mezzanine loan	$ 26.8
Debt instrument, maturity date	Sep. 07, 2024
Number of times loans extension options	3 years
Extension option		and includes up to three one-year
Tennessee Facility | Adviser
Asset Acquisition [Line Items]
Mezzanine loan	$ 10
SOFR
Asset Acquisition [Line Items]
Mezzanine Loan's interest rate	5.22%

Secured Credit Facility - Addit

Secured Credit Facility - Additional Information (Details) - Credit Facility	9 Months Ended
	Sep. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowing under credit facility	$ 4,000,000
Loans maturity date	Aug. 31, 2023
Maturity date, description	Loans under the Credit Facility will mature on the earliest of (i) August 31, 2023, (ii) ) the date an earlier termination pursuant to an event of default specified in the Credit Agreement occurs or (iii) the date of occurrence of other maturity date events specified in the Credit Agreement, unless extended pursuant to the terms of the Credit Agreement.
Payment of outstanding principle balance	$ 4,000,000
Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	0.50%
Minimum | SOFR Rate
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.55%
Minimum | Base Rate
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.55%
Maximum | SOFR Rate
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.65%
Maximum | Base Rate
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.65%
Secured Revolving Loan
Line of Credit Facility [Line Items]
Maximum aggregate commitments amount	$ 65,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Increase the aggregate commitments amount	$ 150,000,000
Lines Of Credit | Minimum
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.55%
Lines Of Credit | Maximum
Line of Credit Facility [Line Items]
Percenatge of borrowing interest	1.65%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)					3 Months Ended	9 Months Ended
	Sep. 02, 2022	Jul. 22, 2022	Jun. 23, 2022	May 31, 2022	Sep. 30, 2022	Sep. 30, 2022
Related Party Transaction [Line Items]
Management fee equal to percentage of net asset value per annum.					1%	1%
Period for reimbursement of advance expenses						60 months
Period for reimbursement of operating expenses						60 months
Operating expenses					$ 1,530,818	$ 1,532,480
Class E Shares | Directors
Related Party Transaction [Line Items]
Number of share issued		4,464
Class E Operating Partnership Unit
Related Party Transaction [Line Items]
Sale of operating partnership units			1,076,776	500,000
Sale of operating partnership units for exchange of investment			$ 10,800,000	$ 5,000,000
Tennessee Facility
Related Party Transaction [Line Items]
Mezzanine loan	$ 26,800,000
Adviser | Tennessee Facility
Related Party Transaction [Line Items]
Mezzanine loan	$ 10,000,000
Limited Partnership Agreement of JPMREIT
Related Party Transaction [Line Items]
Related party allocation percentage of annual total return						12.50%
Annual hurdle percentage						5%
Organization and offering costs					5,500,000	$ 5,500,000
NAV to reimburse operating expenses					$ 500,000,000	500,000,000
Operating expenses						$ 1,900,000
Limited Partnership Agreement of JPMREIT | Primary Offering | Class S Shares
Related Party Transaction [Line Items]
Upfront selling commissions maximum percentage.					3.50%	3.50%
Annual stockholder servicing fee percentage					0.85%	0.85%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class S Shares | Maximum
Related Party Transaction [Line Items]
Annual stockholder servicing fee percentage					8.75%	8.75%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class T Shares
Related Party Transaction [Line Items]
Upfront selling commissions maximum percentage.					3%	3%
Upfront Dealer Manager Fees Maximum Percentage					0.50%	0.50%
Annual stockholder servicing fee percentage					0.85%	0.85%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class T Shares | Maximum
Related Party Transaction [Line Items]
Upfront selling commissions and dealer manager fee percentage					3.50%	3.50%
Annual stockholder servicing fee percentage					8.75%	8.75%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class D Shares
Related Party Transaction [Line Items]
Upfront selling commissions maximum percentage.					1.50%	1.50%
Annual stockholder servicing fee percentage					0.25%	0.25%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class D Shares | Maximum
Related Party Transaction [Line Items]
Annual stockholder servicing fee percentage					8.75%	8.75%
Limited Partnership Agreement of JPMREIT | Primary Offering | Class I Shares
Related Party Transaction [Line Items]
Upfront dealer manager fees maximum						$ 0
Annual stockholder servicing fee						$ 0

Related Party Transactions - Co

Related Party Transactions - Components of Due to Affiliates (Details)	Sep. 30, 2022 USD ($)
Related Party Transactions [Abstract]
Organization and offering costs	$ 5,518,848
Operating expenses	1,907,515
Total	$ 7,426,363

Other Assets and Liabilities -

Other Assets and Liabilities - Components of Other Assets (Details)	Sep. 30, 2022 USD ($)
Other Assets and Liabilities [Abstract]
Acquisition cost	$ 1,368,603
Deferred financing costs	444,438
Prepaids	215,205
Interest receivable	81,262
Other assets	53,772
Total	$ 2,163,280

Other Assets and Liabilities _2

Other Assets and Liabilities - Components of Accrued Expenses and Other Liabilities (Details)	Sep. 30, 2022 USD ($)
Other Assets and Liabilities [Abstract]
Accrued expenses	$ 1,117,765
Deposits payable	250,000
Total	$ 1,367,765

Equity - Additional Information

Equity - Additional Information (Details) $ in Thousands	Sep. 30, 2022 USD ($) shares
Class of Stock [Line Items]
Number of common stock and preferred stock shares, authorized	3,100,000,000
Common Stock
Class of Stock [Line Items]
Common stock, shares sold	928,223
Aggregate net proceeds of common stock | $	$ 9,280

Equity - Schedule of Number of

Equity - Schedule of Number of Shares Authorized and Par Value (Details)	Sep. 30, 2022 $ / shares shares
Class of Stock [Line Items]
Number of Shares	3,100,000,000
Class E Shares
Class of Stock [Line Items]
Number of Shares	600,000,000
Par Value | $ / shares	$ 0.01
Class D Shares
Class of Stock [Line Items]
Number of Shares	600,000,000
Par Value | $ / shares	$ 0.01
Class I Shares
Class of Stock [Line Items]
Number of Shares	600,000,000
Par Value | $ / shares	$ 0.01
Class S Shares
Class of Stock [Line Items]
Number of Shares	600,000,000
Par Value | $ / shares	$ 0.01
Class T Shares
Class of Stock [Line Items]
Number of Shares	600,000,000
Par Value | $ / shares	$ 0.01
Preferred Stock
Class of Stock [Line Items]
Number of Shares	100,000,000
Par Value | $ / shares	$ 0.01

Equity - Schedule of Outstandin

Equity - Schedule of Outstanding Shares of Common Stock (Details) - Class E Common Stock [Member]	9 Months Ended
	Sep. 30, 2022 shares
Class of Stock [Line Items]
Beginning balance, December 31 2021	20,000
Common stock issued	908,223
Ending balance, September 30, 2022	928,223

Investments - Additional Inform

Investments - Additional Information (Details) $ in Millions				9 Months Ended
	Oct. 07, 2022 USD ($) a	Sep. 02, 2022 USD ($)	Jun. 10, 2022 USD ($) a	Sep. 30, 2022
SOFR
Asset Acquisition [Line Items]
Mezzanine Loan's interest rate		5.22%
Truck Terminal Facility
Asset Acquisition [Line Items]
Acres of land | a			50.3
Aggregate purchase price			$ 73.2
IOS Facility | Subsequent Event
Asset Acquisition [Line Items]
Acres of land | a	9.7
Aggregate purchase price	$ 19.7
Tennessee Facility
Asset Acquisition [Line Items]
Mezzanine loan		$ 26.8
Debt instrument, maturity date		Sep. 07, 2024
Number of times loans extension options		3 years
Extension option				and includes up to three one-year

Mandatorily Redeemable Financia

Mandatorily Redeemable Financial Instrument - Additional Information (Details) - USD ($)			3 Months Ended	9 Months Ended
	Jun. 23, 2022	May 31, 2022	Sep. 30, 2022	Sep. 30, 2022
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Unrealized loss on mandatorily redeemable Class E units				$ 26,692
Other Expenses
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Unrealized loss on mandatorily redeemable Class E units			$ 30,000	$ 30,000
Class E Operating Partnership Unit
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Sale of operating partnership units	1,076,776	500,000
Sale of operating partnership units for exchange of investment	$ 10,800,000	$ 5,000,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Net Loss and Weighted Average Number of Shares Outstanding (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss attributable to JPMREIT stockholders, basic	$ (1,659,938)	$ (1,662,403)
Net loss attributable to JPMREIT stockholders, diluted	$ (1,659,938)	$ (1,662,403)
Weighted-average shares of Class E common stock outstanding, basic	928,223	350,567
Weighted-average shares of Class E common stock outstanding, diluted	928,223	350,567

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Computations of Basic and Diluted Net Loss per Share (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Numerator:
Net loss attributable to JPMREIT stockholders, basic	$ (1,659,938)	$ (1,662,403)
Net loss attributable to JPMREIT stockholders, diluted	$ (1,659,938)	$ (1,662,403)
Denominator:
Weighted-average shares of Class E common stock outstanding, basic	928,223	350,567
Weighted-average shares of Class E common stock outstanding, diluted	928,223	350,567
Net loss per share of Class E common stock, basic	$ (1.79)	$ (4.74)
Net loss per share of Class E common stock, diluted	$ (1.79)	$ (4.74)

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Details) - Truck Terminal Facility $ in Millions	Jun. 10, 2022 USD ($) a	Sep. 30, 2022 USD ($)
Long-Term Purchase Commitment [Line Items]
Acres of land | a	50.3
Aggregate purchase price	$ 73.2
Purchase commitment payments, 2022		$ 0.8
Purchase commitment payments, 2023		$ 67.2

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)							3 Months Ended	9 Months Ended
	Nov. 08, 2022 USD ($) $ / shares shares	Nov. 01, 2022 USD ($) $ / shares shares	Oct. 13, 2022 USD ($)	Oct. 07, 2022 USD ($) a	Oct. 03, 2022 USD ($) $ / shares shares	Jul. 22, 2022 shares	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) shares
Subsequent Event [Line Items]
Gross offering proceeds								$ 9,082,234
Aggregate value of share							$ 9,082,234
Subsequent Event | IOS Facility
Subsequent Event [Line Items]
Acres of land | a				9.7
Aggregate purchase price				$ 19,700,000
Sale of shares and borrowings used for asset acquisition				$ 16,000,000
Class E Shares
Subsequent Event [Line Items]
Number of shares issued | shares								908,223
Class E Shares | Directors
Subsequent Event [Line Items]
Number of shares issued | shares						4,464
Class E Shares | Adviser
Subsequent Event [Line Items]
Aggregate value of share								$ 25,050,000
Class E Shares | Subsequent Event | Directors
Subsequent Event [Line Items]
Number of shares issued | shares					972
Director compensation plan, cash payment			$ 30,000
Class E Shares | Subsequent Event | Adviser
Subsequent Event [Line Items]
Number of shares issued | shares	1,773,652
Gross offering proceeds	$ 17,800,000
Class E Shares | Subsequent Event | Private Placement
Subsequent Event [Line Items]
Number of shares issued | shares	1,021,624	7,487			184,250
Price per share | $ / shares	$ 10.02	$ 10.02			$ 10
Aggregate value of share	$ 10,200,000	$ 80,000			$ 1,800,000
Class I Shares | Subsequent Event
Subsequent Event [Line Items]
Number of shares issued | shares		21,963
Price per share | $ / shares		$ 10.02
Aggregate value of share		$ 220,000