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Invesco Provides $355M Loan to Bridge Logistics
Invesco Commercial Real Estate Finance Trust, Inc. (INCREF) has provided $354.6 million in financing to Bridge Logistics Properties, a subsidiary of Bridge Investment Group, to refinance an industrial assets portfolio. The portfolio comprises 24 properties spanning 2,454,761 square feet in California, Washington, Texas, New Jersey, New York and Florida.
“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,” said Yorick Starr, managing director for Invesco Real Estate. “We are deeply appreciative of our relationship borrowers, and Bridge Logistics Properties are exceptional investors and operators in these key logistics markets.”
Added Charlie Rose, president and lead portfolio manager of INCREF and global head of credit for Invesco Real Estate, “As a sub-70% loan-to-value loan secured by a diversified portfolio of well-leased, cash-flowing infill industrial, this loan is complementary to our existing portfolio of moderate leverage loans made to the highest quality institutional sponsors in the industry.”
Pictured: A Bridge Logistics property in Newark, CA.
- ◦Financing
