Invesco Real Estate Income Trust Inc. Achieves Fully Subscribed IREX II Self-Storage Portfolio DST

Strategic Insights -

Invesco Real Estate Income Trust Inc. (INREIT) has announced the successful full subscription of its IREX II Self-Storage Portfolio Delaware Statutory Trust (DST), raising $85.7 million in aggregate. This marks a significant milestone for INREIT, with the IREX II Self-Storage Portfolio DST comprising eight self-storage properties spread across four states and totaling 463,495 square feet of net rentable space. The asset is part of INREIT's diverse portfolio, which has a total asset value of $945.3 million as of May 31, 2025.

Key Takeaways:

  • INREIT's IREX II Self-Storage Portfolio DST has raised $85.7 million in aggregate, making it a fully subscribed offering.
  • The DST comprises eight self-storage properties in four states (TN, TX, NC, and OR) with a total of 3,894 rental units and 463,495 square feet of net rentable space.
  • INREIT's total asset value as of May 31, 2025, stands at $945.3 million, diversified by geography and property type.
  • The self-storage sector has demonstrated resiliency across market cycles, making it an attractive investment opportunity.
  • The IREX II Self-Storage Portfolio DST offered a solution for investors looking to defer capital gains and other taxes through a like-kind exchange under Internal Revenue Code Section 1031.
  • INREIT's Kyle Connor, director of private markets and lead 1031 exchange specialist, said the successful full subscription reflects growing interest among investors seeking tax-deferred exchanges into institutional-quality real estate assets.
  • Chase Bolding, president and lead portfolio manager of INREIT, emphasized the self-storage sector's minimal ongoing capital expenditure, making it a compelling investment solution for tax-advantaged investors.

Statistics:

  • $85.7 million: aggregate amount raised by the IREX II Self-Storage Portfolio DST.
  • 463,495 square feet: total net rentable space in the eight self-storage properties.
  • 3,894: total rental units across the eight properties.
  • 4: number of states where the self-storage properties are located (TN, TX, NC, and OR).
  • $945.3 million: total asset value of INREIT's portfolio as of May 31, 2025.

Sources:

  • Invesco Real Estate Income Trust Inc. press release, May 31, 2025.
  • Internal Revenue Code Section 1031.
  • No other sources cited in the original text.