Invesco Commercial Real Estate Finance Trust, Inc (INCREF) has closed on a $1.2 billion commercial real estate collateralized loan obligation that's made up predominantly of multifamily.
Citigroup Global Markets Inc structured the package that's backed by loans that breaks down to roughly 65 percent of multifamily, 30 percent of industrial, 3 percent in office and 2 percent in self storage.
Invesco said in a statement that the transaction underscores its flexibility to support borrowers in the current climate, with demand for real estate credit continuing to prosper. According to the firm, it's one of the top four investor-driven lenders in the country.
"This issuance underscores the continued momentum of our credit platform and reflects our ability to deploy capital across the commercial real estate credit spectrum," said Charlie Rose, chief executive officer of INCREF and global head of credit for Invesco Real Estate.
"We are pleased the transaction priced efficiently and was well received, highlighting our disciplined approach and deep experience that positions us to navigate a dynamic market environment."
This marks the second closing of a CRE CLO for Invesco, which in May 2025 similarly landed a $1.2 billion issuance that was secured 55 percent by multifamily and 45 percent by industrial loans. At the time, the REIT said that the move bolstered its already strong liquidity position.
Meanwhile, a recent report from the Mortgage Bankers Association found that commercial mortgage debt passed $5 trillion for the first time in the first quarter. Almost all of the $26.3 billion in gains from the previous three months came from multifamily balances ($23 billion).
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