J.P. Morgan Asset Management announced that that the SEC had declared the company's J.P. Morgan Real Estate Income Trust S-11 form effective, setting off the initial public offering.
According to the prospectus, the IPO will offer up to $5 billion in shares of common stock, including $4 billion in shares of the primary offering and $1 billion in shares pursuant to a distribution reinvestment plan.
There are four different classes of stock—Class T, Class S, Class D, and Class I. "The share classes have different upfront selling commissions and dealer manager fees, and different ongoing stockholder servicing fees," the prospectus states.
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