Filing Flows › Real Estate › IPC Alternative Real Estate Income Trust
IPC Alternative Real Estate Income Trust earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 7, 2026
Q2 2026 23¢ of every $1 of revenue lost · operating margin 76.1%
IPC Alternative Real Estate Income Trust made $5.6M in Q2 2026: Healthcare1 $4.2M, Education $797K, Self Storage $647K. Operating margin 76.1%, net loss $1.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.
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What changed this quarter
Revenue was $5.6M in Q2 2026. Healthcare1 was the largest line at 74% of revenue.
Operating profit was $4.3M, a 76.1% margin. The quarter ended with a net loss of $1.3M. Minority interests bore $3.0M of it: to shareholders the quarter was a profit of $1.7M. Net interest and other expense of $5.6M was the main reason.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 7, 2026 | $5.6M | — | 76.1% | −$1.3M | — |
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About IPC Alternative Real Estate Income Trust
IPC Alternative Real Estate Income Trust, Inc. (the “Company”, “we,” “our,” or “us”) was incorporated on June 12, 2023 as a Maryland corporation and elected to be treated as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2024. Until that time, we were subject to taxation at regular corporate rates under the Internal Revenue Code of 1986, as amended (the “Code”). We had little or no taxable income for the taxable year ended December 31, 2023. We were originally formed on June 17, 2021 as a Delaware limited liability company named Inland Private Capital Alternative Assets Fund, LLC and converted to a Maryland corporation on June 12, 2023.
In its own words, from its 10-K, filed Mar 18, 2026.
IPC Alternative Real Estate Income Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Operating margin: 76.1% against the peers' median 20.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IPC Alternative Real Estate Income Trust | Q2 2026 | $5.6M | — | 76.1% |
| WELL Welltower | Q3 2026 | $3.7B | +38% | 9.1% |
| AMT American Tower | Q3 2026 | $2.8B | +2% | 45.6% |
| EQIX Equinix | Q3 2026 | $2.6B | +11% | 23.3% |
| PLD Prologis | Q1 2026 | $2.3B | +7% | 52.7% |
| IRM Iron Mountain | Q3 2026 | $2.0B | +14% | 20.6% |
| DLR Digital Realty Trust | Q3 2026 | $1.9B | +21% | 15.9% |
| WY Weyerhaeuser | Q3 2026 | $1.9B | +8% | 5.4% |
| VTR Ventas | Q3 2026 | $1.8B | +23% | 2.9% |
Source: IPC Alternative Real Estate Income Trust 10-Q on SEC EDGAR · CIK 1959961 · Real Estate Investment Trusts