Le Lézard
Classified in: Business
Subject: RLE

Invesco Real Estate Income Trust Inc. Acquires Two Self-Storage Portfolios


DALLAS, July 7, 2022 /PRNewswire/ -- Invesco Real Estate Income Trust Inc. ("INREIT"), an institutionally managed, public non-listed REIT, announced today two self-storage portfolio acquisitions consisting of five properties located in Bend, Oregon and Clarksville, Tennessee. The combined purchase price was $42 million, bringing INREIT's self-storage portfolio to over $128 million.

"Self-storage continues to be a strategic sector for INREIT given the ability to increase cash flow relatively quickly," said R. Scott Dennis, President and Chief Executive Officer for INREIT. "These properties exhibit strong demand and are well-located in their respective markets. We look forward to providing quality self-storage solutions for the growing populations in Bend and Clarksville."

Bend Self-Storage Portfolio

INREIT acquired two single-story, drive-up self-storage properties located within a mile of each other in Bend, Oregon, totaling 62,805 square feet across 674 units. Both properties benefit from the greater Bend's strong population and income demographics.

Clarksville Self-Storage Portfolio 

INREIT acquired three single-story, drive-up self-storage properties totaling 204,425 square feet across 1,347 units, which should benefit from strong population growth over the next five years.

These investments mark the fourth and fifth self-storage transactions for INREIT, which continues to scale in the sector across growth markets nationally.

For more information about this investment and other INREIT properties, please visit https://www.invesco.com/inreit/investments.

About INREIT
Invesco Real Estate Income Trust Inc. ("INREIT") is an institutionally managed, public non-listed, monthly NAV REIT investing in a diversified portfolio of high quality, income producing properties located throughout the United States. Its thematic approach to investing focuses on where people consume, live, innovate and connect. INREIT seeks to invest in properties with resilient income and appreciation potential. INREIT expects to diversify its portfolio over time, including on a global basis. INREIT is managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate, the real estate investment center of Invesco Ltd. For more information about INREIT, please visit www.inreit.com.

About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $92.0 billion in real estate assets under management, 592 employees and 21 regional offices across the U.S., Europe and Asia (as of March 31, 2022). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com.

Contact: Jamie Braverman, [email protected], 212-278-9630

SOURCE Invesco Real Estate Income Trust Inc.


These press releases may also interest you

at 12:30
International Petroleum Corporation (IPC or the Corporation) reports the following, in accordance with the Swedish Financial Instruments Trading Act: Following the cancellation of 445,000 common shares repurchased by IPC under the normal course...

at 12:30
Aardex, a data-driven, community-minded real estate investment and development firm that has built out more than 1.5 million square feet of projects over the last 40 years, today announced the launch of a new company, Stellera, which will focus on...

at 12:30
The Municipality of Clarington, as a founding member of the Canadian Association of Nuclear Host Communities (CANHC), joined heads of state, representatives from the nuclear industry and non-governmental organizations at the first-ever Nuclear Energy...

at 12:29
Consolidated Credit wants consumers to spring forward into a new season of learning. The focus is on improving fiscal futures through education, saving strategies, and building stability.  ...

at 12:20
Coco Pool Corp. (CCPC.P: TSX-V) (the "Company"), a capital pool company, announces that, effective March 27, 2024, Mark S. Kowalski has resigned as CFO of the Company, and the Company has appointed Sebastien Charles, an existing director and...

at 12:15
Linc Housing announced that construction is underway on North Harbor...



News published on and distributed by: