UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2023
J.P. Morgan Real Estate Income Trust, Inc.
(Exact name of Registrant as Specified in Its Charter)
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Maryland | 333-265588 | 87-3439916 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer
Identification No.) |
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277 Park Avenue 9th Floor New York, New York | | 10172 |
(Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (212) 270-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None
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Title of each class |
| Trading Symbol(s) |
| Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 2.01 Completion of Acquisition or Disposition of Assets
As previously disclosed, on June 10, 2022, J.P. Morgan Real Estate Income Trust, Inc. (the “Company”) entered into an agreement with Old Louisville Savannah Propco, LLC (the “Seller”) to purchase a pre-leased truck transload facility located within the Savannah, GA metropolitan area (the “Truck Transload Facility”) for $74.7 million, exclusive of closing costs, which consisted of an initial purchase price of $73.2 million and an additional $1.5 million in tenant improvement costs. The Truck Transload Facility, constructed in 2023, is a Class A logistics facility encompassing 136,240 square feet with 134 doors situated on an approximately 60-acre site with approximately 50 net leasable acres. On July 17, 2023, the Company acquired the Truck Transload Facility from the Seller. The acquisition was funded with the proceeds of the sale of shares of the Company’s common stock and sale of units of J.P. Morgan REIT Operating Partnership, L.P.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | J.P. Morgan Real Estate Income Trust, Inc. |
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Date: | July 20, 2023 | By: | /s/ Lawrence A. Goodfield, Jr. |
| | | Lawrence A. Goodfield, Jr.
Chief Financial Officer and Treasurer |
