Invesco REIT Reports Minor Increase in Total NAV, New Industrial Acquisition
Invesco Real Estate Income Trust Inc. – a publicly registered non-traded real estate investment trust that invests primarily in stabilized, income-oriented commercial real estate in the United States – declared a monthly net asset value per share for its classes of common stock, as of July 31, 2024.
The company reported that its aggregate NAV increased in value by 0.08% month-over-month. The NAV was approximately $632.9 million at the close of July 2024 and $632.4 million at the close of June 2024.
The transaction price for each class of common stock for subscriptions accepted as of Sept. 1, 2024 (and repurchases as of Aug. 31) is as follows:
Class T shares had a NAV per share of $27.52, compared to $27.62 the previous month, a decrease of 0.36%.
Class S shares had a NAV per share of $27.57, compared to $27.67 the previous month, a decrease of 0.36%.
Class D shares had a NAV per share of $27.54, compared to $27.64 the previous month, a decrease of 0.36%.
Class I shares had a NAV per share of $27.65, compared to $27.75 the previous month, a decrease of 0.36%.
Class N shares had a NAV per share of $29.14, compared to $29.22 the previous month, a decrease of 0.27%.
Shares were originally priced at $25.00 each. The REIT had 22.3 million shares outstanding at the end of July.
The firm also announced that, on July 23, it acquired International Business 4535, a 61,200-square-foot, fully leased, industrial property in the Charlotte, N.C., area.
Similarly, earlier this summer, Bank of America, an administrative agent under the fund’s revolving credit agreement, notified the Invesco REIT operating partnership that it confirmed the partnership’s request to extend the maturity date on certain loans from Sept. 6, 2024, to Sept. 5, 2025.
The REIT launched its public offering, which seeks to raise up to $3 billion, in May 2021. As of Aug. 13, 2024, the company had sold approximately $198.4 million worth of common stock shares in its primary offering and $3 million worth of common stock shares pursuant to its distribution reinvestment plan.
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