{"id":1004757453,"date":"2025-05-09T04:25:19","date_gmt":"2025-05-09T12:25:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004757453"},"modified":"2025-05-09T05:49:07","modified_gmt":"2025-05-09T13:49:07","slug":"invescos-reit-closes-1-2b-clo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/","title":{"rendered":"Invesco REIT Closes $1.2B CLO"},"content":{"rendered":"\n

Invesco Commercial Real Estate Finance Trust, a REIT that specializes in owning and trading loans secured primarily by North American real estate, has closed its first commercial real estate collateralized loan obligation, called INCREF 2025-FL1.<\/p>\n\n\n

\n
\"Charlie<\/a>
Charlie Rose, president & lead portfolio manager of INCREF and global head of credit for Invesco Real Estate. Image courtesy of Invesco<\/em><\/figcaption><\/figure><\/div>\n\n\n

The $1.2 billion CLO is secured by a portfolio consisting of about 55 percent multifamily-associated loans and 45 percent industrial loans, primarily in southern tier states. Morgan Stanley structured INCREF 2025-FL1, with bookrunning support from Barclays, Citigroup and Wells Fargo.<\/p>\n\n\n\n

The upshot of closing the CLO now is improving Invesco’s overall cost of capital and access to liquidity at a time when the company’s liquidity position is already strong, Charlie Rose, president & lead portfolio manager of INCREF and global head of credit for Invesco Real Estate, noted in a company statement.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Is M&A Activity Back in Commercial Real Estate?<\/a><\/p>\n\n\n\n

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INCREF is part of Invesco Real Estate, which has about $90.1 billion in real estate assets under management worldwide, with a highly diversified portfolio across property types and geography. INCREF is managed by Invesco Advisers, a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate.<\/p>\n\n\n\n

CRE CLOs still see volume drop<\/h2>\n\n\n\n

The company also said that this is the largest CRE CLO in the U.S. in the last three years. It comes at a time of continued, but slowing, momentum for the vehicle.<\/p>\n\n\n\n

CRE CLO transactions fell in the fourth quarter of 2024 compared to recent highs of the third quarter, according to Morningstar DBRS. Issuance volume totaled $1.9 billion, down from a volume of $4.55 billion in the third quarter. The final quarter of the year had two transactions in comparison to the six of the prior quarter.<\/p>\n\n\n\n

For the year, however, CRE CLO issuance still gained ground, Morningstar DBRS reported. There were 11 transactions in 2024 that totaled $8.68 billion of issuance, an increase of more than 32 percent from 2023.<\/p>\n\n\n\n

Multifamily properties still rule the roost in the CRE CLO realm, representing 74.22 percent of all loans contributed to the vehicles in the first quarter of 2024, though that is a decrease from 76.12 percent in the previous quarter. Other property types include industrial, lodging, retail and mixed use.<\/p>\n","protected":false},"excerpt":{"rendered":"

The move represents the industry\u2019s largest collateralized loan obligation in the last three years.<\/p>\n","protected":false},"author":1023,"featured_media":1004757457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,21783,23891,21742],"tags":[32934,42920,33882,32774,38327,33277],"class_list":["post-1004757453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-investment","category-national","category-latest","tag-barclays","tag-citigroup","tag-invesco-real-estate","tag-morgan-stanley","tag-morningstar-inc","tag-wells-fargo"],"acf":[],"yoast_head":"\nInvesco REIT Closes $1.2B CLO - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Invesco Commercial Real Estate Finance Trust has closed its first commercial real estate collateralized loan obligation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Invesco REIT Closes $1.2B CLO\" \/>\n<meta property=\"og:description\" content=\"Invesco Commercial Real Estate Finance Trust has closed its first commercial real estate collateralized loan obligation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-09T12:25:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-09T13:49:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Charlie-Rose-Invesco.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"482\" \/>\n\t<meta property=\"og:image:height\" content=\"362\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/\",\"name\":\"Invesco REIT Closes $1.2B CLO - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Charlie-Rose-Invesco.jpg\",\"datePublished\":\"2025-05-09T12:25:19+00:00\",\"dateModified\":\"2025-05-09T13:49:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"description\":\"Invesco Commercial Real Estate Finance Trust has closed its first commercial real estate collateralized loan obligation.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/invescos-reit-closes-1-2b-clo\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Charlie-Rose-Invesco.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Charlie-Rose-Invesco.jpg\",\"width\":482,\"height\":362,\"caption\":\"Charlie Rose, president & lead portfolio manager of INCREF and global head of credit for Invesco Real Estate. 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