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Invesco REIT Expands National Holdings in Student Housing, Industrial and Storage
Invesco Real Estate Income Trust Inc. (INREIT) acquired six properties in the student housing, industrial and self-storage sectors. The total purchase price is approximately $165 million, bringing the gross assets of the non-listed REIT’s portfolio to more than $500 million.
“There is strong demand and a favorable outlook for student housing, industrial and self-storage, and we believe these sectors will continue to perform well,” said R. Scott Dennis, president and CEO for Dallas-based INREIT. “INREIT remains nimble, which allows us to execute on our best ideas within our highest conviction sectors.”
Among INREIT’s acquisitions are the following:
- A 98% interest in Bixby Kennesaw, a 179-unit student housing facility in Kennesaw, GA.
- A 95% interest in an industrial property located in Meridian Business Park in the Chicago suburb of Aurora, IL.
- A self-storage property at 300 South Loop East in Houston. INREIT also acquired three self-storage properties located throughout Salem, OR.
Pictured: Bixby Kennesaw, courtesy of Gilbane Building Company.
- ◦Sale/Acquisition
