Private Placement (Form 8-K)

Item 3.02 Unregistered Sales of Equity Securities.

On March 2, 2026, IPC Alternative Real Estate Income Trust, Inc. (the "Company") issued 6,471 shares of Class X-1 common stock at a price per share of $23.1788 to an accredited investor in a private placement for an aggregate purchase price of $150,000. The offer and sale of the Class X-1 shares is exempt from the registration provisions of the Securities Act of 1933, as amended (the "Securities Act"), by virtue of Section 4(a)(2) thereof and Rule 506(c) of Regulation D promulgated thereunder. Such Class X-1 shares will be exchanged for Class X-2 shares without registration in reliance on the exemption from registration under the Securities Act afforded by Section 3(a)(9) thereof at an exchange rate based on the net asset value per share of each class as of the exchange date if the gross proceeds by the applicable distribution participant reaches the target specified by the Company's dealer manager.