Invesco Real Estate Income Trust Inc. acquires student housing in Tempe, AZ |
DALLAS, January 4, 2022 / PRNewswire / – Invesco Real Estate Income Trust Inc. (“INREIT”), an unlisted public institutionally managed REIT, today announced the acquisition of a 13-story, 384-unit (833-bed) student residence located at Arizona State University. Developed in 2017, the property is 100% leased for the current academic year and within a five-minute walk of campus.
“We are delighted to acquire high quality student accommodation, 100% occupied in one of the largest universities in the country, and in a high growth market such as Temple, to be declared. Scott dennis, President and CEO of INREIT. “There is still a strong demand for the student housing sector, and we are seeing an increase in undergraduate enrollment at top universities, which is pushing the occupancy rate of student housing to pre-COVID levels. INREIT remains agile, and we are happy to access this asset class for our shareholders.
This is the second student housing investment for INREIT, bringing the gross assets of the INREIT portfolio to more than $ 700 million.
For more information on this building and other INREIT properties, please visit https://www.invesco.com/inreit/investments.
Invesco Real Estate Income Trust Inc. (“INREIT”) is an institutionally managed unlisted public monthly net asset value REIT that invests in a diversified portfolio of high quality income producing properties located throughout United States. Its thematic approach to investing focuses on the places where people consume, live, innovate and connect. INREIT seeks to invest in properties with resilient income and appreciation potential. INREIT plans to diversify its portfolio over time, including globally. INREIT is managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. and the registered investment advisor for Invesco Real Estate, the real estate investment center of Invesco Ltd. For more information about INREIT, please visit www.inreit.com.
About Invesco Immobilier
Invesco Real Estate is a global leader in the management of real estate investments with $ 87.0 billion in real estate assets under management, 597 employees and 21 regional offices across the United States, Europe and Asia Pacific (from the September 30, 2021). Invesco Real Estate has actively invested in core, value-added and opportunistic real estate strategies since 1983. Invesco Real Estate is the real estate investment hub of Invesco Ltd., an independent investment management firm dedicated to providing experience investment that helps people get more out of life. NYSE: IVZ; www.invesco.com.
Contact: Jamie braverman, [email protected], 212-278-9630
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SOURCE Invesco Real Estate Income Trust Inc.