Sign in Subscribe
Commercial buildings

Invesco Commercial Real Estate Finance Trust Provides $354.6 Million in Financing to Bridge Logistics Properties

Strategic Insights

— 2 min read

Invesco Commercial Real Estate Finance Trust, Inc. (INCREF) has provided $354.6 million in financing to Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group (NYSE: BRDG), to refinance an industrial assets portfolio spanning 2,454,761 square feet across six states. The financing aligns with INCREF's strategy of originating high-quality, income-generating loans secured by institutional quality assets in key markets. The deal represents a significant milestone for INCREF, with its portfolio now totaling 61 like-kind loans representing over $3.6 billion of loan commitments across the US and Europe.

Key Takeaways:

  • INCREF provided $354.6 million in financing to BLP to refinance an industrial assets portfolio of 24 properties.
  • The portfolio spans 2,454,761 square feet of industrial assets in California, Washington, Texas, New Jersey, New York, and Florida.
  • The financing aligns with INCREF's strategy of originating high-quality, income-generating loans secured by institutional quality assets in key markets.
  • The deal represents a significant milestone for INCREF, with its portfolio now totaling 61 like-kind loans representing over $3.6 billion of loan commitments across the US and Europe.
  • Yorick Starr, Managing Director for Invesco Real Estate, highlighted the importance of the deal in INCREF's strategy, stating, "This financing aligns with INCREF's strategy of originating high-quality, income-generating loans secured by institutional quality assets in what we consider to be the most liquid markets around the US and Europe."
  • Charlie Rose, President and Lead Portfolio Manager of INCREF and Global Head of Credit for Invesco Real Estate, emphasized the focus on high-quality segment of the floating rate real estate credit market, stating, "Each loan we have closed this year has been representative of our consistent focus on the highest quality segment of the floating rate real estate credit market."
  • Matt Berger, CFO at Bridge Logistics Properties, highlighted the importance of the refinancing in supporting long-term performance for the high-quality portfolio, stating, "This refinancing strengthens our ability to continue executing our logistics investment strategy across core U.S. markets."

Statistics:

  • $354.6 million: The amount of financing provided by INCREF to BLP.
  • 61: The number of like-kind loans representing INCREF's portfolio.
  • $3.6 billion: The total loan commitments across the US and Europe.
  • 24: The number of properties in the industrial assets portfolio.
  • 2,454,761: The total square feet of industrial assets in the portfolio.
  • 6: The number of states where the industrial assets portfolio is located.

Sources:

  • Invesco Commercial Real Estate Finance Trust, Inc. news release, date not specified.

Read more