# EDGAR Filing Document

**Accession Number:** 0001756761
**File Stem:** 0001756761-26-000056
**Filing Date:** 2026-4
**Character Count:** 16752
**Document Hash:** 78e97b79776ded04d3d520cb50fa6555
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001756761-26-000056.hdr.sgml**: 20260416

**ACCESSION NUMBER**: 0001756761-26-000056

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260331

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260416

**DATE AS OF CHANGE**: 20260416

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Real Estate Income Trust Inc.
- **CENTRAL INDEX KEY:** 0001756761
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 832188696
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56655
- **FILM NUMBER:** 26868237

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 N FIELD STREET
- **STREET 2:** SUITE 1200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 972-715-7400

**MAIL ADDRESS:**
- **STREET 1:** 2300 N FIELD STREET
- **STREET 2:** SUITE 1200
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

?xml version='1.0' encoding='ASCII'? inreit-20260331

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

___________________________________________________

**FORM 8-K** 

___________________________________________________

**CURRENT REPORT** 

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): March 31, 2026** 

___________________________________________________

**Invesco Real Estate Income Trust Inc.** 

**(Exact name of registrant as specified in its charter)** 

___________________________________________________

---

| | | |
|:---|:---|:---|
| **Maryland** | **000-56655** | **83-2188696** |
| **(State or other jurisdiction** <br>**of incorporation)** | **(Commission File Number)** | **(IRS Employer** <br>**Identification No.)** |

---

**2300 N Field Street** 

**Suite 1200**

**Dallas, Texas 75201**

**(Address of principal executive offices) (Zip Code)**

**Registrant's telephone number, including area code: (972) 715-7400** 

**Not Applicable**

**(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

<u>Title of Each Class</u> <u>Trading Symbol(s)</u> <u>Name of Each Exchange on Which Registered</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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Invesco Real Estate Income Trust Inc. (referred to herein as the "Company," "we," "our," or "us") is filing this Current Report on Form 8-K in order to provide an update regarding our net asset value ("NAV") and our assets and activities.

**May 1, 2026 Transaction Price**

The transaction price for each share class is equal to such share class's NAV per share as of March 31, 2026. A detailed calculation of the NAV per share is set forth below.

**March 31, 2026 NAV per Share**

We calculate NAV per share in accordance with the valuation guidelines that have been approved by our board of directors. Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.inreit.com and is made available on our toll-free, automated telephone line at 833-834-4924. The Adviser is ultimately responsible for determining our NAV. Our properties have been appraised and our commercial mortgage loans and debt have been valued in accordance with our valuation guidelines and such appraisals and valuations were prepared or reviewed by our independent valuation advisors. We have included a breakdown of the components of total NAV and NAV per share for March 31, 2026.

Our total NAV presented in the following tables includes the aggregate NAV of our Class T, Class S, Class D, Class I, Class E, Class N, Class S-PR and Class K-PR shares, as well as partnership interests of Invesco REIT Operating Partnership L.P. (the "Operating Partnership" or "INREIT OP") held by Invesco REIT Special Limited Partner L.L.C. (the "Special Limited Partner"). The following table provides a breakdown of the major components of our total NAV as of March 31, 2026:

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| | |
|:---|:---|
| **$ in thousands, except share/unit data**<br>**Components of NAV** |<br>**March 31, 2026** |
| Investments in real estate | $1011497 |
| Investments in unconsolidated entities | 158397 |
| Investments in real estate-related securities | 30663 |
| Investments in commercial loans | 197098 |
| Investment in affiliated fund | 8153 |
| Cash and cash equivalents | 33840 |
| Restricted cash | 8996 |
| Other assets | 3431 |
| Mortgage notes, revolving credit facility, secured lending agreement and financing obligation, net | (446193) |
| Subscriptions received in advance | (4626) |
| Other liabilities | (21959) |
| Accrued performance participation allocation | (781) |
| Management fee payable | (698) |
| Accrued stockholder servicing fees | (20) |
| Non-controlling interests in joint-ventures | (337953) |
| Net asset value | $639845 |
| Number of outstanding shares/units | 23376432 |

---

------

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of March 31, 2026:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **in thousands, except share/unit data** | **in thousands, except share/unit data** | | | | | | | | | |
| **NAV Per Share/Unit** | **Class T Shares** |<br>**Class S Shares** |<br>**Class D Shares** |<br>**Class I Shares** |<br>**Class E Shares** |<br>**Class N Shares** |<br>**Class S-PR Shares** |<br>**Class K-PR Shares** |<br>**Operating Partnership Units**<sup>(1)</sup> |<br>**Total** |
| Net asset value | $7140 | $12370 | $13615 | $100294 | $37118 | $427258 | $27579 | $14319 | $152 | $639845 |
| Number of outstanding shares/units | 273605 | 473213 | 521336 | 3818742 | 1313175 | 15418839 | 1021631 | 530522 | 5369 | 23376432 |
| NAV Per Share/Unit as of March 31, 2026 | $26.0963 | $26.1397 | $26.1159 | $26.2637 | $28.2659 | $27.7101 | $26.9948 | $26.9908 | $28.2659 |  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Includes the partnership interest of the Operating Partnership held by the Special Limited Partner.

We include no discounts to our NAV for the illiquid nature of our shares, including the limitations on our stockholders' ability to sell shares under our share repurchase plan and our ability to suspend our share repurchase plan at any time. Our NAV generally does not consider exit costs (e.g., selling costs and commissions and debt prepayment penalties related to the sale of a property) that would likely be incurred if our assets and liabilities were liquidated or sold. While we may use market pricing concepts to value individual components of our NAV, our NAV per share is not derived from the market pricing information of open-end real estate funds listed on stock exchanges.

Our NAV is not a representation, warranty or guarantee that (1) a stockholder would be able to realize the NAV per shares for the shares a stockholder owns if the stockholder attempts to sell its shares; (2) a stockholder would ultimately realize distributions per share equal to the NAV per share upon liquidation of our assets and settlement of our liabilities or a sale of our company; (3) shares of our common stock would trade at their NAV per share on a national securities exchange; (4) a third party would offer the NAV per share for each class of shares in an arm's-length transaction to purchase all or substantially all of the shares; or (5) the NAV per share would equate to a market price of an open-ended real estate fund.

Set forth below are the weighted averages of the key assumptions in the discounted cash flow methodology used in the March 31, 2026 valuations, based on property types.

---

| | | |
|:---|:---|:---|
| **Property Type** | **Discount Rate** | **Exit Capitalization Rate** |
| Healthcare | 7.3% | 5.8% |
| Office | 9.7% | 7.3% |
| Industrial | 7.8% | 5.8% |
| Self-Storage | 7.6% | 5.8% |
| Multifamily | 7.5% | 5.5% |
| Student Housing | 8.0% | 5.8% |
| Retail | 8.4% | 7.3% |
| Manufactured Housing Community | 10.1% | 5.6% |

---

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These assumptions are determined by our independent valuation advisor and reviewed by the Adviser. A change in these assumptions would impact the calculation of the value of our property investments. For example, assuming all other factors remain unchanged, the changes listed below would result in the following effects on our investment values:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Investment Values** | **Investment Values** | **Investment Values** | **Investment Values** | **Investment Values** | **Investment Values** | **Investment Values** | **Investment Values** |
|<br>**Input** |<br>**Hypothetical Change** | **Healthcare** | **Office** | **Industrial** | **Self-Storage** | **Multifamily** | **Student Housing** | **Retail** | **Manufactured Housing Community** |
| Discount Rate (weighted average) | 0.25% decrease | 1.9% | 1.8% | 2.0% | 1.9% | 1.9% | 1.9% | 1.8% | 1.9% |
| Discount Rate (weighted average) | 0.25% increase | (1.9)% | (1.8)% | (1.9)% | (1.9)% | (1.9)% | (1.8)% | (1.8)% | (1.9)% |
| Exit Capitalization Rate (weighted average) | 0.25% decrease | 2.8% | 2.1% | 2.9% | 2.7% | 3.0% | 2.7% | 1.9% | 3.0% |
| Exit Capitalization Rate (weighted average) | 0.25% increase | (2.6)% | (1.9)% | (2.7)% | (2.5)% | (2.7)% | (2.5)% | (1.8)% | (2.7)% |

---

**Update on Our Assets and Activities**

As of March 31, 2026, our direct real estate investments include 69 real estate properties totaling approximately 11.1 million square feet located in 31 markets throughout the U.S., with a weighted average occupancy rate of 94%. As of March 31, 2026, our leverage ratio was 29%.

On April 2, 2026, we acquired a 100% interest in Gateway One, a 100% leased industrial property in Columbia, South Carolina, for a purchase price of $32.5 million. The 252,720 square foot property has a weighted average lease term of approximately seven years and is adjacent to the Columbia Metropolitan Airport.

Quarter-to-date through March 31, 2026, we raised gross proceeds of $73.7 million in our registered and private offerings, including sales through our DST Program and reinvestments under our distribution reinvestment plan. The aggregate dollar amount of common stock repurchases requested for January, February and March was $7.6 million. We fulfilled all repurchase requests that were made.

**Update on Portfolio**

The following table provides a summary of our real estate portfolio, including real estate debt investments, as of March 31, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **$ in thousands** | **Number of<br>Properties / Instruments** | **Square Feet /<br>Units / Beds / Lots** | **Occupancy<br>Rate** | **Gross Asset**<br>**Value**<sup>(1)</sup> | **Percentage of Gross Asset Value**<sup>(2)</sup> |
| Industrial | 14 | 2,354,624 sq. ft. | 85% | $301274 | 26% |
| Healthcare | 20 | 1,030,397 sq. ft. | 95% | 170875 | 15% |
| Multifamily | 3 | 739 units | 94% | 167995 | 15% |
| Student Housing | 1 | 833 beds | 91% | 113276 | 10% |
| Office | 2 | 181,517 sq. ft. | 97% | 85500 | 7% |
| Self-Storage | 8 | 468,375 sq. ft. | 87% | 82263 | 7% |
| Real Estate Debt | 4 | N/A | N/A | 75494 | 7% |
| Grocery-Anchored Retail | 1 | 122,308 sq. ft. | 100% | 60400 | 5% |
| Manufactured Housing Community | 5 | 383 lots | 93% | 41952 | 4% |
| Other<sup>(3)</sup> | 15 | 5,147,690 sq. ft. | 93% | 57391 | 5% |
| Total | 73 |  |  | $1156420 | 100% |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)Based on fair value as of March 31, 2026. Gross Asset Value consists of $852.7 million of our allocable share of consolidated real estate properties and $228.3 million of our allocable share of the gross real estate value held by unconsolidated entities, in each case excluding the value of any third-party interests in such real estate investments. For Real Estate Debt, Gross Asset Value includes investments in commercial mortgages, the investment in an affiliated debt fund and unconsolidated preferred equity.

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&nbsp;&nbsp;&nbsp;&nbsp;(2)Percentage of gross asset value is measured as the asset value of real estate investments for each category (Healthcare, Industrial, Office, Multifamily, Grocery-Anchored Retail, Self-Storage, Student Housing, Private Real Estate Debt, Manufactured Housing Community, Other) against the total asset value of all real estate investments, excluding the value of any third-party interests and secured lending agreements in such real estate investments.

&nbsp;&nbsp;&nbsp;&nbsp;(3)Other includes non-controlling interests in retail properties through our interest in ITP Investments LLC.

***Market Diversification.*** The following table sets forth the top five geographic allocations of our direct real estate portfolio based on fair values as of March 31, 2026:

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| | | | |
|:---|:---|:---|:---|
| **$ in thousands** | **Number of Properties** | **Gross Asset Value in Real Estate Properties**<sup>(1)</sup> | **Percentage of Gross Asset Value** |
| Northeast | 7 | $214435 | 20% |
| Mountain | 6 | 181596 | 17% |
| Southeast | 16 | 173233 | 16% |
| Pacific | 9 | 123430 | 11% |
| Mideast | 4 | 121400 | 11% |
| Other | 27 | 266832 | 25% |
|  | 69 | $1080926 | 100% |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)Based on fair value as of December 31, 2025. Gross Asset Value excludes the value of any third-party interests in such real estate properties.

***Lease Expirations.*** As of March 31, 2026, the weighted-average remaining term of our total leased commercial portfolio was approximately 5.2 years based on leased square footage, excluding renewal options. The following schedule details the expiring leases at our consolidated office, industrial, and grocery-anchored retail properties, as well as our unconsolidated healthcare properties by square footage as of March 31, 2026. The table below excludes our self-storage, multifamily, manufactured housing and student housing properties as substantially all leases at such properties expire within 12 months.

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| | | | |
|:---|:---|:---|:---|
| **Year** | **Number of<br>Expiring Leases** | **Square**<br>**Feet**<sup>(1)</sup> | **% of Total Square<br>Feet Expiring** |
| 2026 | 46 | 284411 | 11% |
| 2027 | 35 | 333875 | 12% |
| 2028 | 39 | 85867 | 3% |
| 2029 | 42 | 570981 | 21% |
| 2030 | 38 | 210380 | 8% |
| 2031 | 17 | 166594 | 6% |
| 2032 | 16 | 77809 | 3% |
| 2033 | 12 | 41249 | 2% |
| 2034 | 17 | 326000 | 12% |
| 2035 | 12 | 406707 | 15% |
| Thereafter | 30 | 195183 | 7% |
| Total | 304 | 2699056 | 100% |

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&nbsp;&nbsp;&nbsp;&nbsp;(1)Square feet is presented at our pro rata share.

The information disclosed in the last paragraph under the heading "Update on Our Assets and Activities" and under the heading "Update on Portfolio" under this Item 8.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**Invesco Real Estate Income Trust Inc.**

By: <u>/s/ Courtney Popelka</u>

Courtney Popelka

Chief Financial Officer and Treasurer

Date: April 16, 2026