Invesco CRE Finance Trust Sells $15.5 Million of Class S-1 and $13.2 Million of Class I Shares

Both classes were priced off the trust’s August 31 net asset value, and only the Class S-1 tranche carried upfront selling commissions.

October 12, 2026

Invesco Commercial Real Estate Finance Trust, Inc. raised new capital across two share classes on October 1, 2026. It sold $15.5 million of Class S-1 common stock and $13.2 million of Class I common stock in an unregistered sale disclosed in a current report dated October 7.

Two Classes, One Pricing Date

The Class S-1 tranche was the larger of the two:

• Class S-1: 616,841 shares at $25.0259 per share, for aggregate consideration of $15,541,693. The sale carried $104,667 in upfront selling commissions.
• Class I: 528,235 shares at $24.9871 per share, for aggregate consideration of $13,199,066, with no upfront selling commissions.

Both classes were priced at their net asset value per share as of August 31, 2026. That means the October 1 subscriptions were transacted off the trust's end-of-August valuation rather than its end-of-September figure. At that valuation, Class S-1 shares carried a slightly higher per-share NAV than Class I shares.

The trust relied on the Section 4(a)(2) exemption from registration under the Securities Act of 1933, as the sales did not involve a public offering. None of the trust's securities are listed on a national exchange, and the trust identifies itself as an emerging growth company.

Capital Flowing Through Both Channels

The October sale shows the Invesco-sponsored commercial real estate debt vehicle drawing subscriptions through two kinds of class: one that carries upfront selling commissions and one that carries none. The commission-bearing Class S-1 shares accounted for the larger dollar amount this month, as they did in the trust's March and April share sales, when the class raised roughly $27.9 million and $28.3 million, respectively.

Earlier this year, the trust reported a net asset value of approximately $1.26 billion as of April 30, 2026, along with two whole-loan originations backed by European industrial properties in the United Kingdom, Germany and the Netherlands.