Invesco value-add US property fund in talks to complete $440m deals

Invesco Real Estate is planning to invest $440m (€381.7m) in eight deals on behalf of its latest US value-add fund, according to Fresno County Employees’ Retirement Association’s meeting document.

According to the document, the Invesco Real Estate US Fund VI fund is currently in talks to make a $90m equity investment into the Cascade property in Seattle and also plans to invest $40m in a property in San Francisco.

Invesco is also planning to invest $75m of equity in a portfolio of cold storage assets in various locations. Other industrial deals in the pipeline include a $22m equity investment in San Antonio, a $40m equity investment in Phoenix and a $17m equity investment for a property in Salt Lake City.

The manager disclosed in the meeting document that it is in discussions to make a $75m equity investment in single-family rental assets in various locations and plans to make an $81m equity investment in an affordable multi-family property in New York.

The Invesco fund has already completed six deals worth $259m, according to the meeting document. 

Back in July, IPE Real Assets reported that Invesco had raised an initial $700m for the US value-add fund which seeks a $1.25bn fundraise and a $1.5bn hard cap.

Invesco declined a request for comment.

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