Invesco Commercial REIT Revises Stockholder Servicing Fee Cap for Broker-Dealer

Invesco Commercial Real Estate Finance Trust Inc., a perpetual life real estate investment trust focused on private credit secured by real estate, revised its previously disclosed stockholder servicing fee cap on Class S shares for one participating broker-dealer from 6% to 7.75%.

Recently, the board of directors approved a policy for a specific broker-dealer where stockholder servicing fees for Class S shares would be discontinued. This would occur once the total upfront selling commissions and servicing fees paid on those shares reached 6% of their original gross sale proceeds. At that point, Class S shares would automatically convert to an equivalent number of Class I shares. The board has now revised this threshold for the mentioned broker-dealer from 6% to 7.75%.

Invesco Real Estate launched the REIT in July 2023 as a private fund focused on bringing private real estate credit to accredited investors by originating, acquiring, and managing a diversified portfolio of loans and debt-like preferred equity interests related to commercial real estate.

The company is managed by Invesco Advisers Inc., a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate, the real estate investment center of Invesco Ltd.

This past summer, the REIT reported the closure of six loan transactions. These transactions increased the company’s aggregate loan originations to 22 loans totaling $1.4 billion in committed capital. The portfolio included 17 multifamily and five industrial loans, all secured by commercial real estate.

The REIT reported closing on the following loans:

• A $47.3 million floating-rate senior loan was to facilitate the acquisition and lease-up of a Class-A industrial property spanning 258,506 square feet in Orange County, Calif. 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 were 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, according to the REIT.
• A $40.7 million floating-rate senior loan supported the acquisition and renovation of a 240-unit garden-style apartment complex located in the Plano submarket of Dallas-Fort Worth. The property is proximate to key employment centers, highly rated schools and diverse retail and entertainment options, all situated within a 5-mile radius.
• A $40.4 million floating-rate senior loan was for the acquisition and lease-up of a 2019 Class-A, midrise multifamily property located in Jacksonville, Fla. The 263-unit property is highly amenitized, according to the Invesco REIT, and is proximate to downtown Jacksonville and the city’s medical district.
• Finally, a $33.5 million floating-rate senior loan supported the acquisition and refurbishment of a 130-unit low-rise apartment complex located in the Bay Area, Calif. The loan was made to a multirepeat institutional borrower and is located in an in-demand suburban node characterized by high incomes and a deep employment base.

Click here to visit The DI Wire directory page.