Invesco Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, declared a portfolio update and monthly net asset value per share for its classes of common stock, as of Oct. 31, 2022.
Class T shares had a NAV per share of $32.13 as of Oct. 31, 2022, compared to $32.45 the previous month.
Class S shares had a NAV per share of $32.16, compared to $32.47 the previous month.
Class D shares had a NAV per share of $32.09, compared to $32.42 the previous month.
Class I shares had a NAV per share of $32.21, compared to $32.53 the previous month.
Class E shares had a NAV per share of $33.54, compared to $33.87 the previous month.
Shares were originally priced at $25.00 each.
Investments in real estate increased from $898.6 million in September to $899.2 million in October, while investments in real estate-related securities decreased slightly from $24.4 million to $23.8 million. Investments in unconsolidated entities increased from $156.5 million to $152.9 million.
Cash and cash equivalents decreased from $26.0 million from $14.6 million, restricted cash decreased from $10.2 million to $9.3 million, and other assets decreased from $11.3 million to $13.1 million.
The REIT’s mortgage notes and revolving credit facility decreased from ($511.6 million) in September to ($511.0 million) in October, and other liabilities increased from ($15.2 million) to ($21.7 million).
The REIT had nearly 17.1 million shares outstanding in October, compared to 17.1 million the previous month.
During October, Invesco committed $30 million to a real estate debt fund that originates floating-rate loans secured by commercial real estate. Half of the commitment was funded during the 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, which seeks to raise up to $3.0 billion, in May 2021. As of October 12, 2022, the REIT has raised $104.4 via its primary offering and distribution reinvestment plan. The company is also conducting private offerings of up to $1.0 billion in share of its Class N private offering, which has resulted in gross proceeds of $443.7 million as of Aug. 11, 2022. As of Sept. 30, 2022, the company had an aggregate NAV of $566.7 million.