DALLAS, July 25,
2024 /PRNewswire/ -- Invesco Commercial Real Estate
Finance Trust, Inc. ("INCREF"), a perpetual life real estate
investment trust (REIT) focused on private credit secured by real
estate, announced today the closure of six loan transactions.
These transactions increase INCREF's aggregate loan originations to
22 loans totaling $1.4 billion in
committed capital. The portfolio now includes 17 multifamily and
five industrial loans, all secured by commercial real estate.
"The origination of well over a billion dollars in loans since
INCREF's inaugural origination in May
2023, marks an important milestone for this strategy," said
Bert Crouch, Chief Executive Officer
of INCREF and Head of North
America for Invesco Real Estate. "Invesco Real Estate's
expertise and relationships position us favorably to source and
underwrite loans that are accretive to our strategy. We look
forward continuing to work with our trusted borrowers and
partners."
"We are pleased to have over 20 loans in our portfolio, with the
most recently originated six loans evidencing our continued ability
to hold credit standards in a competitive market environment," said
Charlie Rose, President and Lead
Portfolio Manager of INCREF and Global Head of Credit for Invesco
Real Estate. "Our focus has remained consistent since launching our
real estate credit strategies, and these loans further evidence the
importance of our focus on relationship sourcing, with a portfolio
now fully comprised of leading institutional sponsors."
INCREF closed on the following loans:
- $47.3 million floating-rate
senior loan to facilitate the acquisition and lease-up of a Class-A
industrial property spanning 258,506 square feet in Orange County, CA. Strategically situated
within an infill submarket, the property benefits from connectivity
to major transport corridors, offering convenient access to the
Ports of Los Angeles and
Long Beach, as well as LAX
International Airport, Long Beach Airport, and Orange County John
Wayne Airport.
- Two floating-rate senior loans totaling $46.2 million for the refinancing of two Class-A,
multifamily properties located in the Dallas-Fort Worth metropolitan area. The first
loan is secured by a newly-built community with 180 units, while
the second loan is for a 179-unit community constructed in 2021.
Both communities are highly amenitized and centrally located.
- $40.7 million floating-rate
senior loan for the acquisition and renovation of a 240-unit
garden-style apartment complex located in the Plano submarket of Dallas-Fort Worth, TX. The property is
proximate to key employment centers, highly-rated schools and
diverse retail and entertainment options, all situated within a
5-mile radius.
- $40.4 million floating-rate
senior loan for the acquisition and lease-up of a 2019-vintage,
Class-A mid-rise multifamily property located in Jacksonville, FL. The 263-unit property is
highly amenitized and is proximate to downtown Jacksonville and the city's medical
district.
- $33.5 million floating-rate
senior loan for the acquisition and refurbishment of a 130-unit
low-rise apartment complex located in the San Francisco Bay Area. The loan was made to a
multi-repeat institutional borrower and is located in an in-demand
suburban node characterized by high incomes and a deep employment
base.
About INCREF
Invesco Commercial Real Estate
Finance Trust, Inc. is a monthly net asset value (NAV) non-
listed real estate investment trust that originates, acquires, and
manages a portfolio of loans
secured by commercial real estate (and similar investments) primarily located in North America.
INCREF is managed by Invesco Advisers, Inc. (the "Adviser"), a
subsidiary of Invesco Ltd. and the registered investment adviser
for Invesco Real Estate, the real estate investment center of
Invesco Ltd. This does not constitute an offer or solicitation to
buy or sell any securities. An offering can only be made by the
applicable offering memorandum.
About Invesco Real
Estate
Invesco Real Estate is a global
real estate investment management business with $86.7
billion in real estate assets under management, 614 employees and
21 regional offices across the U.S., Europe and Asia as of December
31, 2023. Invesco Real Estate invests across the risk
return spectrum, from core to opportunistic; in equity and debt;
listed and direct; locally and globally.
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive, and alternative investment capabilities. With
offices in more than 20 countries, Invesco managed $1.7 trillion in assets on behalf of clients
worldwide as of June 30, 2024. For
more information, visit www.invesco.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release may include statements that constitute
"forward-looking statements" within the meaning of the U.S.
securities laws and the Private Securities Litigation Reform Act of
1995. These forward-looking statements may include statements about
possible or assumed future results of our business, investment
strategies, financial condition, liquidity, results of operations,
plans and objectives. When we use the words "believe," "expect,"
"anticipate," "estimate," "plan," "intend," "project," "forecast"
or similar expressions and future or conditional verbs such as
"will," "may," "could," "can," "should," and "would," and any other
statement that necessarily depends on future events, we intend to
identify forward-looking statements.
Forward-looking statements are not guarantees, and they involve
risks, uncertainties and assumptions. There can be no assurance
that actual results will not differ materially from our
expectations. We caution investors not to rely unduly on any
forward-looking statements and urge you to carefully consider the
risks identified under the captions "Risk Factors,"
"Forward-Looking Statements" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
annual report on Form 10-K and quarterly reports on Form 10-Q,
which are available on the Securities and Exchange Commission's
website at www.sec.gov.
All written or oral forward-looking statements that we make, or
that are attributable to us, are expressly qualified by this
cautionary notice. We expressly disclaim any obligation to update
the information in any public disclosure if any forward-looking
statement later turns out to be inaccurate.
Contact: Beverly Khoo |
332-323-8029 | beverly.khoo@invesco.com
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SOURCE Invesco Commercial Real Estate Finance Trust, Inc.