Invesco CRE Finance Trust closes $1.157B CLO INCREF 2026-FL2, retains subordinated tranches

Invesco Commercial Real Estate Finance Trust, Inc.

Issued $1.006B in rated notes (Class A–E) and $150M in unrated subordinated notes retained by company.
Class A Notes ($743M) rated Ass(sf)/AAAsf; spread Term SOFR + 1.45% (steps to +1.70% after Dec 2031).
Proceeds used to purchase an initial portfolio of commercial real estate loans and repay pre-closing repurchase facility debt.
Notes mature December 2043; 30-month reinvestment period; cleanup call option when offered notes ≤10% of original balance.
KeyBank appointed servicer, Bellwether special servicer; Invesco Advisers collateral manager (fee currently waived).

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