Invesco Real Estate Income Trust Introduces New Share Classes
Invesco Real Estate Income Trust Inc., a publicly registered non-listed real estate investment trust that invests primarily in stabilized, income-oriented commercial real estate in the United States, has announced the authorization and designation of two new classes of common stock, Class S-PR shares and Class K-PR shares, to be sold via a private placement.
The new share classes have similar rights and proportional asset interests as its existing common stock classes.
In conjunction with the introduction of the classes, the REIT updated governance documents.
The company, as well as Invesco REIT Operating Partnership LP and Invesco Advisers Inc. entered into an amended and restated advisory agreement. This updated agreement incorporates the new share classes and stipulates that the REIT will pay the adviser an annual fee equivalent to 1% of the net asset value of both the new shares.
Further solidifying these changes, the company and OP also executed an amended and restated limited partnership agreement. This amendment facilitates the creation of Class S-PR and Class K-PR limited partnership units. The agreement modifies the special limited partner’s performance participation interest in the OP. Under the revised terms, the special limited partner will now receive allocations with respect to Class S-PR and Class K-PR limited partnership units, amounting to 12.5% of the total return, subject to a 6% hurdle amount and a high water mark, with a catch-up provision.
In a related transaction, the REIT issued 878,895.257 Class S-PR shares and 439,447.629 Class K-PR shares to Invesco Realty Inc. This issuance was in exchange for existing shares of the company’s common stock, specifically 351,765.527 Class T shares, 351,765.527 Class S shares, 351,765.526 Class D shares, and 311,283.091 Class I shares.
Earlier this month, the Invesco REIT fully subscribed IREX II Self-Storage Portfolio DST. The Delaware statutory trust offering raised $85.7 million in aggregate. The IREX II Self-Storage Portfolio DST, which launched in October 2024, consists of eight self-storage properties diversified in four states: North Carolina, Oregon, Tennessee, and Texas.
Invesco Real Estate had $85 billion in real estate assets under management, 605 employees, and 21 regional offices across the United States, Europe, and Asia Pacific as of Dec. 31, 2024. The company invests across the risk return spectrum from core to opportunistic, equity and debt, listed and direct, and locally and globally. With offices in more than 20 countries, Invesco managed $1.8 trillion in assets on behalf of clients worldwide as of March 31, 2025.
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