DALLAS, Dec. 19,
2023 /PRNewswire/ -- Invesco
Commercial Real Estate Finance Trust, Inc. ("INCREF"), a
non-listed, perpetual life real estate investment trust (REIT)
focused on private credit secured by real estate, announced today
that it has closed three loan transactions in Q4 2023, totaling
$231.5 million to industrial and
multifamily properties located in well-positioned submarkets. These
transactions increase INCREF's aggregate loan originations to
approximately $648.9
million.
The three loan originations demonstrate Invesco Real
Estate's primary focus on building a core-plus credit
portfolio allocated towards its "highest conviction ideas" across
the commercial real estate universe.
"We are pleased to scale the portfolio with newly
originated loans that fit within our portfolio composition secured
by assets in our targeted sectors at reduced valuations in line
with today's market environment," said Bert
Crouch, Chief Executive Officer for INCREF. "These new
investments also evidence our ability to take full advantage of the
current market's financing gap and elevated interest rate
environment."
"We are deeply appreciative of our longstanding borrower
relationships, with whom we are actively scaling the portfolio,"
said Charlie Rose, President for
INCREF. "Our focus on sponsor-driven and relationship-based lending
continues to guide our approach to this business. These three loans
are representative of a much broader opportunity set that we are
identifying in this current market environment."
INCREF originated one loan totaling $93.0 million within the industrial sector and
two loans totaling $138.5 million
within the multifamily sector.
Industrial
- $93 million floating-rate senior
loan to facilitate the acquisition and lease-up of a newly built,
Class-A logistics center spanning 1.2 million square feet across
three buildings in Atlanta, GA.
This submarket is within 60 miles of the Appalachian Regional Port
and Hartsfield Jackson International Airport, proximate to major
trucking arteries and is supported by strong demographics with a
population growth of 53% since 2000.
Multifamily
- $70 million floating-rate senior
loan for the acquisition and renovation of a 398-unit Class-A,
garden-style apartment community located in the Plano submarket of Dallas-Fort Worth, TX. The property is located
within a 2.5-mile radius of the seventh best school district in
Texas.
- $68.5 million floating-rate,
cash-neutral refinance loan secured by a 1984-vintage,
2023-renovated, garden-style multifamily property comprised of
nineteen buildings in the Kirkland
submarket of Seattle, WA. The
property is centrally located to employment nodes and an assortment
of retail, dining and entertainment.
About INCREF
Invesco Commercial
Real Estate Finance Trust, Inc. is a monthly net asset
value (NAV) non-listed real estate investment trust that will
originate, acquire, and manage 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 leader in the real estate investment
management business with $88.9
billion in real estate assets under management, 586
employees and 21 regional offices across the U.S., Europe and Asia as of June 30,
2023. Invesco Real Estate invests across the
risk return spectrum, from core to opportunistic; in equity and
debt; listed and direct; locally and globally. Invesco Ltd. is an
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. NYSE:
IVZ;
http://www.invesco.com.
About Invesco Ltd.
Invesco Ltd.
(Ticker NYSE: IVZ) 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 $1.49
trillion in assets on behalf of clients worldwide as of
September 30, 2023. For more
information, visit
www.invesco.com.
Contact: Jamie Braverman,
jamie.braverman@invesco.com, 212-278-9630
View original
content:https://www.prnewswire.com/news-releases/invesco-commercial-real-estate-finance-trust-inc-incref-announces-three-loan-originations-totaling-231-5-million-302018993.html
SOURCE Invesco Commercial Real Estate Finance Trust, Inc.