Invesco Real Estate Income Trust Inc. Commences Public Offering
Invesco Real Estate Income Trust Inc. (INREIT) announced a public offering of common stock, aiming to raise $2.4 billion. This offering includes five classes of shares, priced at their net asset value. Operative since September 2020, INREIT focuses on stabilized, income-generating commercial real estate in the U.S., targeting a portfolio of at least 80% private real estate. The trust plans to qualify as a real estate investment trust for tax purposes. Invesco Distributors, Inc. acts as the dealer manager for the offering, which has been declared effective by the SEC.
- Targeting to raise $2.4 billion through the public offering.
- Diversifies portfolio with at least 80% private real estate.
- Plans to qualify as a real estate investment trust for tax benefits.
- Potential dilution of existing shareholder equity due to new stock issuance.
DALLAS, May 17, 2021 /PRNewswire/ -- Invesco Real Estate Income Trust Inc. ("INREIT") today announced the commencement of its public offering of common stock. INREIT invests primarily in stabilized, income-oriented commercial real estate in the United States. INREIT commenced operations in September 2020 and has acquired an initial portfolio comprised of healthcare, cold storage, multifamily, and net-leased research and development assets. INREIT's target portfolio consists of at least
INREIT is offering five classes of shares of its common stock: Class T shares, Class S shares, Class D shares, Class I shares and Class E shares. Shares of INREIT's common stock are being offered on a continuous basis at a price generally equal to the net asset value per share of each class of common stock, as updated monthly, plus any applicable upfront selling commissions and dealer manager fees. INREIT is offering up to
INREIT is externally managed by Invesco Advisers, Inc., an indirect, wholly-owned subsidiary of Invesco Ltd. (NYSE: IVZ).
Invesco Distributors, Inc. is acting as the dealer manager for INREIT's public offering on a best-efforts basis. Invesco Distributors, Inc. or one of its affiliates at 11 Greenway Plaza, Suite 1000, Houston, Texas 77046 can provide, or cause to be provided, copies of the prospectus relating to INREIT's public offering.
A registration statement relating to INREIT's securities has been declared effective by the
Securities and Exchange Commission.
Forward-looking statement disclosure
This press release contains forward-looking statements about INREIT's business, including, statements about its plans, strategies and objectives. You can generally identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue" or other similar words. These statements include INREIT's plans and objectives for its future portfolio, status as a real estate investment trust, plans and objectives relating to future growth and availability of funds, and are based on current expectations that involve numerous risks and uncertainties. Assumptions relating to these statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to accurately predict and many of which are beyond INREIT's control. Although INREIT believes the assumptions underlying the forward-looking statements, any of the assumptions could be inaccurate and, therefore, there can be no assurance that these forward-looking statements will prove to be accurate, and INREIT's actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by INREIT or any other person that INREIT's objectives and plans will be achieved.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES DESCRIBED HEREIN IN ANY STATE OR JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. This press release must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to each prospective investor in connection with any offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any other state securities regulator has approved or disapproved of INREIT's securities, determined if INREIT's prospectus is truthful or complete or determined whether INREIT's offering can be sold in compliance with any existing or future suitability or conduct standards, including the Regulation Best Interest standard, to any or all purchasers. Any representation to the contrary is a criminal offense.
Invesco Advisers, Inc. is the investment adviser for INREIT; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the dealer manager for INREIT. Both entities are indirect, wholly owned subsidiaries of Invesco Ltd.
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SOURCE Invesco Real Estate Income Trust Inc.
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