{
  "docId": "019dd923-5e88-73ef-bd5a-d09a35b9055f",
  "docSlug": "9f82c2c20423efb8",
  "documentTitle": "mi guide to alternatives",
  "authorId": "JPMorgan",
  "authorName": "J.P. Morgan Asset Management",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.333,
  "pageNumber": 22,
  "pageCount": 81,
  "prevPage": 21,
  "nextPage": 23,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 40,
  "notes": "The slide uses two line charts with embedded data tables to summarize historical performance metrics.",
  "elementsJson": [
    "line_chart",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5a-d09a35b9055f/22",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5a-d09a35b9055f",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-d09a35b9055f.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-d09a35b9055f#slide-22",
  "components": [
    {
      "bbox": {
        "h": 0.65,
        "w": 0.42,
        "x": 0.53,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Net operating income growth by property type",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "45742ca6-ca9a-435d-8e96-0862db75b877",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.42,
        "x": 0.08,
        "y": 0.23
      },
      "kind": "chart",
      "text": "U.S. vacancy rates by property type",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f23bd564-77a3-4da2-81c8-46a76beaaf7a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.6,
        "x": 0.08,
        "y": 0.87
      },
      "kind": "disclaimer",
      "text": "Source: NCREIF, J.P. Morgan Asset Management. (Right) Annualized returns are calculated to 4Q25. Past performance is not a reliable indicator of current and future results. Guide to Alternatives. Data are based on availability as of January 31, 2026.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6858a367-5343-465c-a0ad-965e22524024",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Vacancy rate",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-28aa-738e-a34a-94148ebaab39",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.075,
        "w": 0.285,
        "x": 0.218,
        "y": 0.245
      },
      "kind": "table",
      "text": "Vacancy rates table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a6cded31-893e-4b9a-bd7a-62090e1129ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.285,
        "x": 0.66,
        "y": 0.245
      },
      "kind": "table",
      "text": "NOI growth table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f9ffdf5f-4220-4741-afa0-1fd40f3bb2b5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.6,
        "x": 0.08,
        "y": 0.09
      },
      "kind": "title",
      "text": "U.S. real estate: Vacancy rates and NOI growth",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9ac5780f-cf7e-4a6a-98a2-243675bd5d1f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Small Multiples",
      "slug": "small-multiples",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "a6dd9c74-b98a-4532-8b13-39ea05a0900b",
      "evidence": "chart/line: Net operating income growth by property type, chart/line: U.S. vacancy rates by property type",
      "confidence": 0.7
    },
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "4b2fac6c-c265-40ab-991a-505305259d33",
      "evidence": "table/data: Vacancy rates table, table/data: NOI growth table",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 81,
      "from": 21,
      "beatId": "da03194d-d802-4dda-a154-72bcfbe5c59e",
      "arcName": "The Sparkline",
      "arcSlug": "sparkline",
      "beatName": "New Bliss",
      "beatSlug": "sparkline-new-bliss",
      "evidence": "The deck concludes with a detailed analysis of different alternative investments and their role in a portfolio.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 40,
      "from": 21,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "9c345b97-6dd3-4ea5-af03-2ec4a05fad47",
      "evidence": "The deck highlights the potential risks and missed opportunities of not diversifying a portfolio.",
      "position": 1,
      "objective": "What are the costs of not considering alternative investments?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}