Invesco REIT Reports Monthly Net Asset Value Per Share
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 July 31, 2022.
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 July 31, 2022.
Class T and Class S shares had a NAV per share of $32.10 as of July 31, 2022, compared to $32.19 the previous month.
Class D shares had a NAV per share of $32.10, compared to $32.17 the previous month.
Class I shares had a NAV per share of $32.17, compared to $32.28 the previous month.
Class E shares had a NAV per share of $33.33, compared to $33.37 the previous month.
Shares were originally priced at $25.00 each.
In a filing with the Securities and Exchange Commission, the REIT explained that the “modest decline” in NAV was driven primarily by changes in discounted cash flow assumptions in response to higher interest rates. The REIT noted that it also has interest rate hedging instruments which experienced a negative mark-to-market adjustment.
Investments in real estate increased from $866.6 million in June to $893.4 million in July, while investments in real estate-related securities increased slightly from $25.3 million to $26 million. Investments in unconsolidated entities increased from $150.3 million to $152.9 million.
Cash and cash equivalents decreased from $16.1 million from $15.1 million, restricted cash decreased from $9.2 million to $7.6 million, and other assets decreased from $6.6 million to $5.6 million.
The REIT’s mortgage notes and revolving credit facility increased from ($487.6 million) in June to ($508.2 million) in July, and other liabilities increased from ($12.2 million) to ($13.4 million).
The REIT had nearly 16.3 million shares outstanding in July, compared to 16.1 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 $86.3 million in the primary offering, and as of July 31, 2022, had an aggregate NAV of $531.5 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 $524.8 million.
