Invesco Commercial Real Estate Finance Trust, Inc., a perpetual life real estate investment trust (REIT) focused on private credit secured by real estate, has officially announced the closure of six loan transactions. According to certain reports, these transactions will help increase INCREF’s aggregate loan originations to 22 loans totaling $1.4 billion in committed capital. As of today, the organization’s portfolio includes 17 multifamily and five industrial loans, all secured by commercial real estate. Talk about the stated transactions on a slightly deeper level, we begin from a $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. This particular property is situated in an infill submarket, benefitting immensely from connectivity to major transport corridors. By that, we refer to how the property offers you convenient access to the Ports of Los Angeles and Long Beach, as well as to the LAX International Airport, Long Beach Airport, and Orange County John Wayne Airport. Next up, we have two floating-rate senior loans totaling upto a sum worth $46.2 million, loans that are geared towards the refinancing of two Class-A, multifamily properties located in the Dallas-Fort Worth metropolitan area. From the pair, first loan is understood to be secured by a newly-built community with 180 units, whereas the second one went to a 179-unit community constructed in 2021. Although built at different times, both the communities are highly amenitized and centrally located.
“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.”
Joining the same would be a $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. This one is proximate to key employment centers, highly-rated schools and diverse retail and entertainment options, with all the stated facilities accessible within a 5-mile radius. Alongside that, another loan being made available by Invesco Real Estate Finance Trust is touted to be a $40.4 million floating-rate senior loan. In essence, the given loan will facilitate the acquisition and lease-up of a 2019-vintage, Class-A mid-rise multifamily property located in Jacksonville, FL. Boasting over 263 different unites, the property in question is highly amenitized, while simultaneously enjoying close proximity to downtown Jacksonville and the city’s medical district. Rounding up highlights would be a $33.5 million floating-rate senior loan, which will be specifically presented to fund the acquisition and refurbishment of a 130-unit low-rise apartment complex located in the San Francisco Bay Area. Markedly enough, 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
“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.”
