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 March 31, 2023. All share classes declined more than two percent, month-over-month.
Class T shares had a NAV per share of $30.32 as of March 31, 2023, compared to $30.96 the previous month.
Class S shares had a NAV per share of $30.28, compared to $30.93 the previous month.
Class D shares had a NAV per share of $30.28, compared to $31.93 the previous month.
Class I shares had a NAV per share of $30.45, compared to $31.10 the previous month.
Class E shares had a NAV per share of $31.63, compared to $32.29 the previous month.
Shares were originally priced at $25.00 each.
The REIT had 20.8 million shares outstanding at the end of March.
The company reported that it “continues to prioritize liquidity in the current environment, both for the purposes of satisfying repurchase requests under its share request plan and to be able to fund accretive investments” and that that it has satisfied 100% of repurchase requests and has not limited or pro-rated any repurchases. Invesco says its current liquidity exceeds 15% of its NAV in cash, liquid real estate-related securities and capacity on its credit facility.
The REIT launched its public offering, which seeks to raise up to $3.0 billion, in May 2021. As of March 10, 2023, the company had sold approximately $129.1 million worth of shares and had an aggregate NAV of $643.2 million as of March 31, 2023.
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