J.P. Morgan is shaking up its menu a bit.

The Securities and Exchange Commission has declared effective J.P. Morgan Real Estate Income Trust Inc., a non-traded net asset value real estate investment trust (REIT) externally managed and sponsored by J.P. Morgan Investment Management Inc. The offering includes up to $4 billion of several classes shares of common stock and $1 billion in distribution reinvestment plan shares.

The REIT will focus on purchasing stabilized, income-generating real properties, refurbishment, re-development, and development properties. The REIT seeks to invest at least 80 percent of its gross asset value in properties and real estate and up to 20 percent in real estate-related securities. The minimum investment is as low as $2,500 for certain classes and as high as $1 million for other classes.

As J.P. Morgan prepares its REIT offering, a strategist at J.P. Morgan suggests that investors modestly trim stock holdings and shift money to commodities as equities have outpaced other assets amid receding recession fears.

A report has shown that the S&P 500 Index has advanced 13 percent from the low it reached in June. However, a Bloomberg index tracking commodities from oil to cooper declined during that period.

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