Invesco Commercial Real Estate Finance Trust, Inc. (INCREF), a perpetual life REIT focused on private credit secured by real estate, closed its inaugural $1.2-billion managed commercial real estate collateralized loan obligation (CRE CLO), INCREF 2025-FL1.
The CRE CLO is structured by Morgan Stanley with bookrunning support from Barclays, Citigroup and Wells Fargo. It is secured by a portfolio consisting of approximately 55% multifamily and 45% industrial loans.
“We’re pleased to announce that this issuance, which priced efficiently amid volatile market conditions, is the largest diversified CRE CLO issued in the US in the past three years evidencing the market’s confidence in the sector,” said Charlie Rose, president and lead portfolio manager of INCREF and global head of credit for Invesco Real Estate. “By issuing today, we have improved our overall cost of capital and accessed significant additional liquidity at a time when our liquidity position is already extraordinarily strong.”
Pictured: Invesco offices in Dallas.
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