{"schema_version":"secwatch.filing_event.v1","accession":"0001976927-23-000015","form_type":"8-K","ticker":null,"cik":"0001976927","company_name":"Invesco Commercial Real Estate Finance Trust, Inc.","filed_at":"2023-12-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.489172+00:00","generated_at":"2026-06-07T15:15:06.763631+00:00","sec_items":["1.01","5.03","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Invesco CRE Finance Trust secures $200M subscription from Texas Municipal Retirement System for Class F shares","bullets":["TMRS commits up to $200M to purchase Class F shares at NAV, with multiple closings before Dec 5, 2024.","Lock-up period ends earlier of March 23, 2028 or when aggregate NAV reaches $1.5B.","Company filed Articles Supplementary to authorize 500M Class F shares.","Class F shares excluded from management fee; 10% annual performance fee with 6% hurdle return.","TMRS may request repurchase of shares via voluntary share repurchase plan after lock-up."],"urls":{"canonical":"https://secwatch.observer/filing/0001976927-23-000015","json":"https://secwatch.observer/filing/0001976927-23-000015.json","markdown":"https://secwatch.observer/filing/0001976927-23-000015.md","text":"https://secwatch.observer/filing/0001976927-23-000015.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1976927/000197692723000015/0001976927-23-000015-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1976927/000197692723000015/incref-20231205.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T15:15:06.763631+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7bc3b7d74e5d24572ac7c4abff57b8dacbe731de","claim":"Invesco Commercial Real Estate Finance Trust, Inc.: Articles Supplementary classifying and designating 500,000,000 Class F Common Shares (effective 2023-12-05).","evidence_excerpt":"On December 5, 2023, the Company filed Articles Supplementary with the State Department of Assessments and Taxation of Maryland which classified and designated five hundred million (500,000,000) Class F Common Shares.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1976927/000197692723000015/0001976927-23-000015-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-12-05"}],"fact_type":"governance_change"},{"claim_id":"1f67c0dc41ba3747de9284a5e046208d3105dec6","claim":"Invesco Commercial Real Estate Finance Trust, Inc. entered into Subscription Agreement with Texas Municipal Retirement System valued at up to $200 million in Class F shares of common stock (effective 2023-12-05).","evidence_excerpt":"On December 5, 2023, Invesco Commercial Real Estate Finance Trust, Inc. (the “Company”) and Texas Municipal Retirement System (“TMRS”) entered into a subscription agreement (the “Subscription Agreement”) pursuant to which TMRS agreed to purchase up to $200 million in Class F shares of common stock of the Company, par value $0.01 per share (“Class F Shares”), upon the Company’s request at one or more closings held prior to December 5, 2024 (the 12-month anniversary of the date of the Subscription Agreement) in a private offering exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), or another available exemption under the Securities Act.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1976927/000197692723000015/0001976927-23-000015-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Texas Municipal Retirement System"},{"label":"Value","value":"up to $200 million in Class F shares of common stock"},{"label":"Effective","value":"2023-12-05"}],"fact_type":"material_agreement"},{"claim_id":"61d5411f91f0b21ee6ed40c51830c9066178443b","claim":"Invesco Commercial Real Estate Finance Trust, Inc. entered into Amendment No. 2 to Amended and Restated Advisory Agreement with Invesco Advisers, Inc. valued at Excludes Class F Shares from management fee calculation, provides for Class F Performance Fee (effective 2023-12-05).","evidence_excerpt":"In connection with the authorization, classification and designation of the Class F Shares, on December 5, 2023 the Company entered into Amendment No. 2 (the \"Amendment\") to the Amended and Restated Advisory Agreement, dated as of May 18, 2023, by and among the Company, Invesco Commercial Real Estate Finance Investments, LP, a Delaware limited partnership, and Invesco Advisers, Inc., a Delaware corporation (the “Adviser”), to: • exclude the Class F Shares from the calculation of the management fee; • provide for the Company's payment to the Adviser of an annual performance fee with respect to each Class F Share and establish how it will be calculated (the \"Class F Performance Fee\"); and • permit the Adviser to elect to receive payment of the Class F Performance Fee in cash or Class E Common Stock, and, subject to certain conditions, to exchange such Class E Common Shares for other specified classes of shares of Common Stock, including Class F Shares.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1976927/000197692723000015/0001976927-23-000015-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Invesco Advisers, Inc."},{"label":"Value","value":"Excludes Class F Shares from management fee calculation, provides for Class F Performance Fee"},{"label":"Effective","value":"2023-12-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}