Invesco Commercial Real Estate Finance Trust ("INCREF"), a perpetual life real estate investment trust (REIT) focused on private credit secured by real estate, has provided $354.6 million in financing to Bridge Logistics Properties ("BLP"), a subsidiary of Bridge Investment Group, to refinance an industrial assets portfolio.

The portfolio comprises 24 properties, spanning 2,454,761 square feet of industrial assets in California, Washington, Texas, New Jersey, New York, and Florida.

"This financing aligns with INCREF's strategy of originating high-quality, income-generating loans secured by institutional quality assets in what we consider to be the most liquid markets around the US and Europe," said Yorick Starr, Managing Director for Invesco Real Estate. "We are deeply appreciative of our relationship borrowers, and Bridge Logistics Properties are exceptional investors and operators in these key logistics markets."

"Each loan we have closed this year has been representative of our consistent focus on the highest quality segment of the floating rate real estate credit market.  With this closing, the INCREF portfolio now totals 61 like kind loans representing over $3.6 billion of loan commitments across the US and Europe," said Charlie Rose, President and Lead Portfolio Manager of INCREF and Global Head of Credit for Invesco Real Estate. "As a sub-70% loan-to-value loan secured by a diversified portfolio of well-leased, cash-flowing infill industrial, this loan is complementary to our existing portfolio of moderate leverage loans made to the highest quality institutional sponsors in the industry."

"This refinancing strengthens our ability to continue executing our logistics investment strategy across core U.S. markets," said Matt Berger, CFO at Bridge Logistics Properties. "We are proud to partner with Invesco in supporting long-term performance for this high-quality portfolio."