Invesco Real Estate Income Trust Fully Subscribes $87M DST Offering
Invesco Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust that invests primarily in stabilized, income-oriented U.S. commercial real estate, has fully subscribed its IREX III Industrial Portfolio DST that launched in May 2025. The Delaware statutory trust offering raised $87 million in gross proceeds.
IREX III Industrial Portfolio DST consists of three industrial properties diversified across two states – Ohio and Illinois – and are 100% occupied across 795,825 of net rentable square feet.
“We believe the strong demand for IREX III reflects a growing investor preference for passive, tax-deferred strategies,” said Kyle Connor, director, private markets and lead 1031 exchange specialist, Invesco Real Estate. “IREX III has the potential to deliver simplified ownership, continued real estate exposure, and meaningful tax and estate planning benefits while providing access to institutional-quality assets in a professionally managed structure.”
The assets were sourced by Invesco Real Estate Income Trust Inc., or INREIT, which had a total asset value of $1 billion as of Oct. 31, 2025.
“The Midwest industrial market has performed well in terms of occupancy and rent growth through the third quarter of 2025. This fully leased, diversified industrial portfolio is designed to provide potential tax advantages for investors seeking strategies for managing gains,” said Chase Bolding, president of INREIT and head of North America, Invesco Real Estate.
IREX III Industrial Portfolio DST allowed qualified investors to complete a like-kind exchange of property under Internal Revenue Code Section 1031. According to the company, the offering presented a compelling solution to aid in the deferment of capital gains and other taxes while providing the opportunity to diversify real estate holdings through the ownership of an institutional-quality asset.
Over the summer, the REIT has fully subscribed its IREX II Self-Storage Portfolio DST after raising $85.7 million in aggregate. Launched in October 2024, IREX II consists of eight self-storage properties diversified in four states – North Carolina, Oregon, Tennessee, and Texas – and 3,894 total rental units across 463,495 of net rentable square feet.
INREIT is managed by Invesco Advisers Inc., a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate, the real estate investment center of Invesco Ltd.
Invesco Real Estate had $87.2 billion in real estate assets under management, 601 employees, and 21 regional offices across the United States, Europe, and Asia Pacific as of June 30, 2025. The company invests across the risk return spectrum from core to opportunistic, equity and debt, listed and direct, and locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Asset management firm Invesco Ltd. has over 8,300 employees helping clients in more than 120 countries. It reported $2.1 trillion in assets under management as of Sept. 30, 2025.
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