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Invesco Commercial REIT Chief Financial Officer Resigns

By Mari Nicholson

Invesco REIT Chief Financial Officer Resigns

Invesco Commercial Real Estate Finance Trust, a perpetual life real estate investment trust focused on private credit secured by real estate, reported that R. Lee Phegley Jr., chief financial officer, has notified the REIT of his intention to resign from the company and pursue other opportunities.

Following this announcement, the REIT’s board of directors appointed Courtney Popelka as CFO, effective upon Phegley’s departure. Popelka was recently appointed as CFO for private markets for Invesco Ltd. in October 2024. In that role, she provides strategic finance leadership and is responsible for the financial reporting teams supporting Invesco’s private markets products. Popelka previously served as senior director, then managing director and head of U.S. fund operations from 2015 to 2024, responsible for overseeing the day-to-day operations of the Invesco U.S. real estate fund platform – including the core, core plus, high return, debt, and retail strategies.

She began her investment career in 1999 and joined Invesco Real Estate in 2009, serving as senior controller of the real estate group. Popelka earned a Bachelor of Business Administration in accounting and a master’s degree in finance from Texas A&M University. She is also a certified public accountant.

Phegley will provide support for the company’s transition to the successor chief financial officer during his remaining tenure at Invesco Ltd.

As previously reported by The DI Wire, the company recently declared distributions for each class of its common stock – Classes S, S-1, D, E, I, and F on Sept. 30. The gross distribution amount of $0.31 per class reflects a distribution of $0.16 per share for the month of September and a special distribution of $0.15 per share. Classes S and S-1 were also subject to stockholder servicing fees.

The net distribution for each class was payable to stockholders of record immediately following the close of business on Sept. 30 and will be paid on or about Oct. 16, 2024. These distributions will be paid in cash or reinvested in shares of the REIT’s common stock for those participating in the company’s distribution reinvestment plan.

Over the 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. Its portfolio includes 17 multifamily and five industrial loans, all secured by commercial real estate.

Invesco Commercial Real Estate Finance Trust Inc. is a continuous private offering exempt from the registration provisions of the U.S. Securities and Exchange Commission. It 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.

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