Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

On November 26, 2024, IPC Alternative Real Estate Operating Partnership, LP (the "Operating Partnership"), an entity for which IPC Alternative Real Estate Income Trust, Inc. (the "Company") acts as general partner, as borrower, entered into a Modification to Loan Documents Agreement (the "Credit Facility Amendment") with Inland Private Capital Corporation ("IPC"), an affiliate of the Company's sponsor, as lender.

The Credit Facility Amendment amends (i) the revolving credit facility loan agreement dated as of October 27, 2023 between the Operating Partnership and IPC (the "Credit Agreement") and (ii) the revolving promissory note dated as of October 27, 2023 made by the Operating Partnership payable to IPC (the "Promissory Note," and together with the Credit Agreement, the "Credit Facility") to provide that the maturity date of the Credit Facility is November 30, 2025 (as may be amended, modified, extended or renewed, but not accelerated, in IPC's sole discretion) or the date IPC declares obligations under the Credit Facility, or the obligations become, due and payable after the occurrence of an event of default.

The Credit Facility Amendment contains representations, warranties and covenants that are customary for agreements of this type. A copy of the Credit Facility Amendment is attached as Exhibit 10.1 to this Current Report on Form 8-K.