Invesco Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a monthly net asset value per share for its classes of common stock, as of November 30, 2021.
Class T, Class S, and Class D shares had a NAV per share of $30.16 as of November 30, 2021, compared to $29.69 the previous month.
Class I shares had a NAV per share of nearly $30.25, compared to $29.77 the previous month.
Class E shares had a NAV per share of $30.66, compared to $30.38 the previous month.
Invesco REIT said in a filing with the Securities and Exchange Commission that the NAV per share increase was primarily driven by the “continued strong performance” in its logistics and self-storage investments.
Investments in real estate increased from $319.2 million in October to $323.1 million in November, while investments in real estate-related securities increased from $5.1 million to nearly $5.9 million. Investments in unconsolidated entities increased from $132.9 million to $134.2 million month-over-month.
Cash and cash equivalents increased from $4.6 million to $18.5 million, restricted cash increased from $942,000 to $957,000, and other assets increased from $1.8 million to $4.1 million.
The REIT’s mortgage note and revolving credit facility increased from ($186.4 million) to ($188.4 million), and other liabilities increased from ($4.2 million) to ($4.5 million). The REIT had close to 9.5 million shares outstanding in November, compared to 8.9 million the previous month.
Invesco Real Estate Income Trust invests in stabilized commercial real estate in the United States and intends to diversify globally.
The REIT launched its public offering in late May 2021, which consists of up to $2.4 billion in shares of common stock and up to $600 million through the distribution reinvestment plan. It has raised $58.5 million in the primary offering, and as of November 30, 2021, had an aggregate NAV of $288 million.
Invesco REIT initially commenced operations in September 2020 via a $400 million private placement offering of Class N shares and sold nearly 6.3 million shares for approximately $164.3 million.