# EDGAR Filing Document

**Accession Number:** 0001976927
**File Stem:** 0001193125-26-037158
**Filing Date:** 2026-2
**Character Count:** 33026
**Document Hash:** c8ae0c0f39a0b811e97d4d15707207f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-037158.hdr.sgml**: 20260204

**ACCESSION NUMBER**: 0001193125-26-037158

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260204

**DATE AS OF CHANGE**: 20260204

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Commercial Real Estate Finance Trust, Inc.
- **CENTRAL INDEX KEY:** 0001976927
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 921080856
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94158
- **FILM NUMBER:** 26597121

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 N FIELD STREET, SUITE 1200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 972-715-7400

**MAIL ADDRESS:**
- **STREET 1:** 2300 N FIELD STREET, SUITE 1200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Realty, Inc.
- **CENTRAL INDEX KEY:** 0001992686

**ORGANIZATION NAME:**
- **EIN:** 582536179
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 1331 SPRING ST. NW SUITE 2500
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30309
- **BUSINESS PHONE:** 972-715-7400

**MAIL ADDRESS:**
- **STREET 1:** 1331 SPRING ST. NW SUITE 2500
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30309

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 10)**

**Invesco Commercial Real Estate Finance Trust, Inc.**

*(Name of Issuer)*

**Class I Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**46091W201**

*(CUSIP Number)*

**Courtney Popelka**<br>1331 Spring Street NW, Suite 2500<br>Atlanta GA 30309<br>(972) 715-5887

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**02/02/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Realty, Inc.** | Name of reporting person<br>**Invesco Realty, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**4778241.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**4778241.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4778241.00** | Aggregate amount beneficially owned by each reporting person<br>**4778241.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**10.29%** | Percent of class represented by amount in Row (11)<br>**10.29%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Advisers, Inc.** | Name of reporting person<br>**Invesco Advisers, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Group Services, Inc.** | Name of reporting person<br>**Invesco Group Services, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**OppenheimerFunds, Inc.** | Name of reporting person<br>**OppenheimerFunds, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**COLORADO** | Citizenship or place of organization<br>**COLORADO** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Oppenheimer Acquisition Corp.** | Name of reporting person<br>**Oppenheimer Acquisition Corp.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Holding Company (US), Inc.** | Name of reporting person<br>**Invesco Holding Company (US), Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Holding Company Limited** | Name of reporting person<br>**Invesco Holding Company Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

| **CUSIP No.** | **46091W201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Invesco Ltd.** | Name of reporting person<br>**Invesco Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**D0** | Citizenship or place of organization<br>**D0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5312533.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5312533.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | Aggregate amount beneficially owned by each reporting person<br>**5312533.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.44%** | Percent of class represented by amount in Row (11)<br>**11.44%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

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**Comment for Reporting Person:** This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer.
With respect to rows 8, 10 and 11, this amount includes 1,196,922 shares of Class S common stock, 1,197,628 shares of Class D common stock, 1,194,434 shares of Class I common stock and 1,189,257 shares of Class E common stock held directly by Invesco Realty, Inc.; and 534,291 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information.
With respect to row 13, based on a total of 46,437,922 shares of common stock issued and outstanding.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class I Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
Invesco Commercial Real Estate Finance Trust, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
2300 N FIELD STREET, SUITE 1200, Dallas, TX, 75201

Explanatory Note
This Statement constitutes Amendment No. 10 ("Amendment No. 10") to the Omnibus Amendment to Schedule 13D filed with the Securities and Exchange Commission on April 3, 2024, as amended on May 2, 2024, September 4, 2024, December 3, 2024, February 5, 2025, February 10, 2025, March 31, 2025, May 5, 2025, August 5. 2025, and November 5, 2025 by Invesco Realty, Inc., Invesco Advisers, Inc., Invesco Group Services, Inc., OppenheimerFunds, Inc., Oppenheimer Acquisition Corp., Invesco Holding Company (US), Inc., Invesco Holding Company Limited and Invesco Ltd. (collectively, the "Reporting Persons"). Amendment No. 10 relates to the Reporting Persons' beneficial ownership of Class D common stock, Class E common stock, Class I common stock and Class S common stock of the Issuer and is being filed to update ownership of Class E shares by Invesco Advisers, Inc.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The information contained in Item 5(a) and (b) of the Omnibus Amendment is hereby amended to read in its entirety as follows: (a) and (b) The responses of each of the Reporting Persons with respect to Rows 11, 12, and 13 of the cover pages of this Schedule 13D that relate to the aggregate number of shares and percentage of common stock are incorporated herein by reference. The responses of each of the Reporting Persons with respect to Rows 7, 8, 9, and 10 of the cover pages of this Schedule 13D that relate to the number of shares of common stock as to which each of the persons or entities referenced in Item 2 above has sole or shared power to vote or to direct the vote of and sole or shared power to dispose of or to direct the disposition of (including but not limited to footnotes to such information) are incorporated herein by reference. Invesco Realty, Inc. is the record holder of 4,778,241 shares of common stock reported herein. The other Reporting Persons, all of which are parent companies to Invesco Realty, Inc., may be deemed to have beneficial ownership of the securities directly held by Invesco Realty, Inc. Invesco Advisers, Inc. is the record holder of 534,291.84 shares of Class E Stock reported herein. The other Reporting Persons who are parent companies to Invesco Advisers, Inc. may be deemed to have beneficial ownership of the securities directly held by Invesco Advisers, Inc.

**(b)**
—

**(c)**
On February 2, 2026 the Issuer issued an aggregate of 264,024.114 shares of Class E common stock to Invesco Advisers, Inc. as payment of the management fee and performance fees under the Amended and Restated Advisory Agreement by and among the Issuer, Invesco Commercial Real Estate Finance Investments, LP and Invesco Advisers, Inc.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Realty, Inc.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Advisers, Inc.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Group Services, Inc.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** OppenheimerFunds, Inc.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Oppenheimer Acquisition Corp.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Holding Company (US), Inc.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Holding Company Limited

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Invesco Ltd.

**Signature:** /s/ Tina Carew

**Name/Title:** Attorney in Fact*

**Date:** 02/04/2026