Invesco Real Estate Income Trust Inc.

Our principal executive and administrative offices are located in leased space at 2300 N Field Street, Suite 1200, Dallas Texas 75201. As part of our Advisory Agreement, our Adviser is responsible for providing office space and office services required in rendering services to us. We consider these facilities to be suitable and adequate for the management and operations of our business.

• INREIT Master Lessee IV LLC Delaware⁴
• INREIT Master Lessee LLC Delaware⁴
• IPG Fleetwood Apartments JV, LLC Delaware⁴
• IREX Depositor LLC Delaware⁴
• IREX IV Buckhorn Industrial DST Delaware⁴
• IREX IV Industrial Portfolio DST Delaware⁴
• IREX IV International Business 4535 DST Delaware⁴
• IREX IV Interstate Commerce DST Delaware⁴
• ITP Investments, LLC Delaware⁴
• ITP Investor, LLC Delaware⁴
• ITP TRS Investor, LLC Delaware⁴
• Invesco REIT Investments CB Pledgor, LLC Delaware⁴
• Invesco REIT Investments CB Seller, LLC Delaware⁴
• Invesco REIT Lending Investments LLC Delaware⁴
• Invesco REIT Operating Partnership LP Delaware⁴
• Invesco REIT Securities LLC Delaware⁴
• Invesco REIT TRS LLC Delaware⁴
• Invesco Real Estate Exchange LLC Delaware⁴
• Midwest Industrial Investors, LLC Delaware⁴
• Midwest Industrial Manager, LLC Delaware⁴
• Midwest Industrial Member, LLC Delaware⁴
• NJ Exit 5 Industrial Berry Owner, LLC Delaware⁴
• NJ Exit 5 Industrial Member, LLC Delaware⁴
• NJ Exit 5 Industrial Mount Holly Owner, LLC Delaware⁴
• NJ Exit 5 Industrial Venture, LLC Delaware⁴
• PT Co-GP Fund, LLC Delaware⁴
• PTCR Holdco, LLC Delaware⁴
• Roseland Residences Investors, LLC Delaware⁴
• Roseland Residences Manager, LLC Delaware⁴
• Roseland Residences Member, LLC Delaware⁴
• Roseland Residences Owner, LLC Delaware⁴
• San Simeon Apartments, LLC Delaware⁴
• San Simeon Holdings, LLC Delaware⁴
• San Simeon IR Member LLC Delaware⁴
• Silver Shores MH Member, LLC Delaware⁴
• Silver Shores MH Owner, LLC Delaware⁴
• TCG Earth City LLC Delaware⁴
• Tanner Road MH GP, LLC Delaware⁴
• Tanner Road MH Member, LP Delaware⁴
• Tanner Road MH, LLC Delaware⁴
• Vida IR Member LLC Delaware⁴
• Vida JV LLC Delaware⁴
• Vida MOB Portfolio Co-Invest LLC Delaware⁴
• Vida MOB Portfolio Manager LLC Delaware⁴

• Our NAV per share amounts may change materially if the appraised values of our properties materially change from prior appraisals or the actual operating results for a particular month differ from what we originally budgeted for that month.
• NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
• We have incurred GAAP net losses attributable to stockholders and an accumulated deficit in the past and may incur GAAP net losses attributable to stockholders and continue to have an accumulated deficit in the future.
• We face risks associated with the deployment of our capital.
• The DST Program could subject us to liabilities from litigation or otherwise.
• The DST Program will not shield us from risks related to the performance of the DST Properties held through such structures.
• We own beneficial interests in trusts owning DST Properties that will be subject to the agreements under our DST Program, which may have an adverse effect on our results of operations, relative to if the DST Program agreements did not exist.
• DST Properties may be less liquid than other assets, which could impair our ability to utilize cash proceeds from sales of such DST Properties for other purposes such as paying down debt, distributions or additional investments.
• Certain provisions of Maryland law could inhibit changes in control.
• Ownership limitations may restrict change of control or business combination opportunities in which our stockholders might receive a premium for their shares.
• Our authorized but unissued shares of capital stock may prevent a change in our control.
• Our rights and the rights of our stockholders to take action against our directors and officers are limited.
• Maryland law and our organizational documents limit our stockholders’ ability to amend our charter or dissolve us without the approval of our board of directors.
• Your interest in us will be diluted if we issue additional shares, and your interest in our assets will also be diluted if the Operating Partnership issues additional units.
• Our UPREIT structure may result in potential conflicts of interest with limited partners in the Operating Partnership whose interests may not be aligned with those of our stockholders.
• Your investment return may be reduced if we are required to register as an investment company under the Investment Company Act.
• We depend on the Adviser to develop appropriate systems and procedures to control operational risks.
• We are highly dependent on information technology, and any and failures of or damage to, attack on or unauthorized access to our Adviser’s information technology systems or facilities, or those of third parties with which we do business or that facilitate our business activities, including as a result of cyber-attacks, could result in significant limits on our ability to conduct our operations and activities, costs and reputational damage.
• The recent advancements in and increased use of AI present risks and challenges that may adversely impact our business.
• Compliance with the SEC’s Regulation Best Interest by participating broker-dealers may negatively impact our ability to raise capital in our public offering, which would harm our ability to achieve our investment objectives.
• Failure to obtain and maintain an exemption from being regulated as a commodity pool operator could subject us to additional regulation and compliance requirements that could materially adversely affect our business, results of operations and financial condition.
• Risks Related to Investments in Real Estate
• Our operating results will be affected by economic, market and political conditions and regulatory changes that impact the real estate market in general.
• Our portfolio is currently concentrated in a limited number of asset types and investments, and may in the future be concentrated in a limited number of asset types, geographies or investments.
• We may change our investment and operational policies without stockholder consent.
• We face risks associated with property acquisitions.
• We operate in a highly competitive market for investment opportunities and competition for investment opportunities may reduce our profitability and the return on your investment.
• We may continue to make joint venture investments. Joint venture investments could be adversely affected by our lack of sole decision-making authority, our reliance on the financial condition of our joint venture partners and disputes between us and our joint venture partners.
• In our due diligence review of potential investments, we may rely on third-party consultants and advisors and representations made by sellers of potential portfolio properties, and we may not identify all relevant facts that may be necessary or helpful in evaluating potential investments.
• The inability of property managers to effectively operate our properties and leasing agents to lease vacancies in our properties would hurt our financial performance.
• We depend on tenants for our revenue, and therefore our revenue is dependent on the success and economic viability of our tenants. Our reliance on single or significant tenants in certain properties may decrease our ability to lease vacated space.
• We may be unable to renew leases as leases expire, which could adversely impact our operating results.
• Our properties face significant competition.
• Our properties may be leased at below-market rates under long-term leases.
• Continued inflation may adversely affect our financial condition and results of operations.
• Rising interest rates could adversely impact the value of our investments.
• We are subject to losses that are either uninsurable, not economically insurable or that are in excess of our insurance coverage.
• We could become subject to liability for environmental violations, regardless of whether we caused such violations.
• Our properties are subject to property taxes that may increase in the future, which could adversely affect our cash flow.
• Certain of our investments are subject to ground leases, which provide limited rights to the underlying property.
• We face risks in effecting operating improvements.
• We may have difficulty selling our properties, which may limit our flexibility and ability to pay distributions.
• External factors may affect the demand for or revenues derived from the properties in which we invest, which could adversely affect our results of operations, financial condition and ability to make distributions.
• We could be negatively impacted by the condition of Fannie Mae or Freddie Mac and by changes in government support for multifamily housing.
• Increased levels of unemployment could adversely affect the occupancy and rental rates of our multifamily properties.
• If any credit market disruptions or economic slowdowns occur, any investments in multifamily properties may face increased competition from single-family homes and condominiums for rent and new supply, which could limit our ability to retain residents, lease apartment units or increase or maintain rents.
• Rent control and other changes in applicable laws, or noncompliance with applicable laws, could adversely affect our multifamily properties.
• Political changes may affect the real estate markets.
• The impacts of climate-related initiatives at the U.S. federal and state levels remain uncertain at this time but could result in increased operating costs.
• Risks Related to Investments in Real Estate-Related Credit Assets
• Debt-oriented real estate investments face a number of general market-related risks that can affect the creditworthiness of issuers, and modifications to certain loan structures and market terms make it more difficult to monitor and evaluate investments.
• We face creditor risks with respect to our portfolio.
• Certain risks associated with the underlying collateral of our commercial real estate loans may affect our results of operations and financial condition.
• Increases in interest rates could adversely affect our ability to acquire target assets that satisfy our investment objectives.
• We may invest in commercial mortgage loans which are non-recourse in nature and include limited options for financial recovery in the event of default; an event of default may adversely affect our results of operations and financial condition.
• We may find it necessary or desirable to foreclose on certain of the loans or CMBS we may acquire, and the foreclosure process may be lengthy and expensive.
• We may incur contingent liabilities in connection with the disposition of investments.
• Risks Related to Investments in Real Estate-Related Securities
• We may invest in a wide range of real estate-related securities pursuant to our broad investment guidelines.
• Investments in real estate-related debt securities are subject to risks including various creditor risks and early redemption features which may materially adversely affect our results of operations and financial condition.
• Some of our securities investments may become distressed resulting in securities with a high risk of default and/or illiquidity.
• Our debt investments will face prepayment risk and interest rate fluctuations that may impact the value of our investments.
• Our CMBS and debt securities face risks associated with extensions that may adversely affect our results of operations and financial condition.
• Certain risks associated with CMBS may adversely affect our results of operations and financial condition.
• We will face “credit spread widening” risk related to our investment in securities.
• There are certain risks associated with the insolvency of obligations backing mortgage-backed securities and other investments.
• There are certain risks associated with CMBS interest shortfalls.
• The lack of liquidity in our securities investments may adversely affect our business.