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Invesco Targets $1.6 Billion of Loan Originations in 2018

CRE Lender Closes $252 Million in Loans in California, Texas, and Washington, DC
January 31, 2018
Invesco Real Estate, the global real estate team at Invesco Ltd. (NYSE: IVZ), has participated in $252 million of total financings, originating and closing five loans as part of its $1.6 billion origination goal for 2018.

The originations include:
  • A mezzanine loan to facilitate the recapitalization and lease up of a recently delivered 142-unit trophy multifamily asset within City Market at O, 880 P St. NW in Washington, DC;
  • A senior loan for the ground-up development of a 400,000-square-foot, Class A warehouse and distribution facility known as Perris Gateway Commerce Centre in the Inland Empire of California;
  • A mezzanine loan as part of the refinancing of 655 Montgomery, a 263,000-square-foot Class A office building in San Francisco;
  • A senior loan to finance the acquisition and comprehensive renovation of a 324-unit multifamily property known as Blanco Crossing in San Antonio; and
  • A senior loan to finance the acquisition and lease-up of a newly constructed 230-unit multifamily project known as the Haven at Westheimer in Houston.

Invesco Real Estate's commercial mortgage business focuses on originating senior and subordinate loans in primary and secondary U.S. markets. Invesco typically targets senior loans in excess of $50 million (and up to $250 million) and mezzanine loans in excess of $20 million (and up to $150 million).

As a floating-rate, non-recourse lender, most loans are structured with three to five years of fully extended term and up to 75% advance rates secured by core-plus and value-added collateral profiles.

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