Invesco REIT fills $97.6M DST with Charlotte, Columbia assets

Invesco Real Estate Income Trust fully subscribed its IREX V Diversified Portfolio DST, raising $97.6 million in gross proceeds from investors completing Section 1031 like-kind exchanges. IREI reported the full subscription on Nov. 5. The Delaware statutory trust launched in April 2026 and began raising capital in May, according to AltsWire.

The portfolio holds The Elizabeth on Seventh, a mixed-use office/retail property in Charlotte, N.C., and Gateway One, an industrial asset in West Columbia, S.C. The two assets total 353,257 net rentable square feet and are 98.7% occupied, according to the company.

Advisors placing 1031 clients into Invesco's program now have one fewer open vehicle. The REIT's operating partnership holds an option to buy investors' DST interests at fair market value starting two years after an offering closes, payable in operating partnership units or cash.

AltsWire reported IREX V is the largest offering in the program and its first to combine property types. Earlier IREX vehicles held single-sector industrial or self-storage portfolios. Kyle Connor, director of private markets for Invesco Real Estate's 1031 exchange program, said it was also the fastest the program has fully sold out. The two prior vehicles, the $94 million IREX IV industrial portfolio fully subscribed in May 2026 and the $87 million IREX III closed in December 2025, were smaller.

AltsWire reported the program had raised $293.8 million in net proceeds as of June 30, 2026, having started in February 2023. INREIT reported $1.5 billion in total asset value at Sept. 30, up from $1.3 billion at March 31.