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PRNewswire 14-May-2024 10:00 AM
DALLAS, May 14, 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 that it has closed six loan transactions year-to-date, totaling $499.2 million in committed loans for multifamily properties situated in well-performing submarkets. These transactions increase INCREF's aggregate committed loans since inception to 16 loans totaling approximately $1.2 billion.
"INCREF remains committed to originating loans that benefit borrowers and its portfolio alike," said Bert Crouch, Chief Executive Officer of INCREF and Head of North America for Invesco Real Estate. "These transactions are a testament to Invesco's relationship driven, bespoke approach to lending that focuses on institutional quality assets, well-known sponsors, and diversification across geographies and borrowers."
"As continuous participants in the market, we aim to be the steady hand throughout market cycles," said Charlie Rose, President and Lead Portfolio Manager of INCREF and Global Head of Credit for Invesco Real Estate. "We are pleased to continue to scale our platform during this period of elevated interest rates with loans secured by assets in our highest conviction sectors and advanced at moderate leverage levels against property values which have reset significantly versus recent peak valuations."
INCREF closed on the following multifamily loans:
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. (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 $1.66 trillion in assets on behalf of clients worldwide as of March 31, 2024. For more information, visit www.invesco.com
Contact: Beverly Khoo | 332-323-8029 | beverly.khoo@invesco.com
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SOURCE Invesco Commercial Real Estate Finance Trust, Inc.