Invesco Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared its monthly net asset value per share for its classes of common stock, as of September 30, 2021.
Class T, Class S, and Class D shares had a NAV per share of $29.52 as of September 30, 2021, compared to $29.19 the previous month.
Class I share had a NAV per share of nearly $29.61, compared to $29.28 the previous month.
Class E shares had a NAV per share of $30.14, compared to $29.71 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 appraisal activity reflecting positive market performance for its multifamily assets.
In September, the REIT closed four real estate transactions totaling more than $160 million.
Investments in real estate increased from $147.4 million in August to $318.5 million in September, while investments in real estate-related securities decreased from $5.9 million to $4.5 million. Investments in unconsolidated entities increased from $116.1 million to $117.9 million month-over-month.
Cash and cash equivalents decreased from $5.4 million to $4.6 million, restricted cash increased slightly from roughly $893,000 to $942,000, and other assets decreased from $4.6 million to $1 million.
The REIT’s mortgage note and revolving credit facility increased from ($85.9 million) in August to ($186.4 million) in September, and other liabilities decreased from ($4 million) to ($2.4 million). The REIT had close to 8.6 million shares outstanding in September, compared to 6.4 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 company currently owns a portfolio of healthcare, cold storage, multifamily, and net-leased research and development assets.
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 $22 million in the primary offering, and as of September 30, 2021, had an aggregate NAV of $255.4 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.