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hase Bolding and Charlie Rose have spent the last ten years building a strategy for Invesco Real Estate, and they now plan to expand the firm’s platform at what they view as a prime growth window. “The real‑estate cycle is turning and we’re near the bottom,” Bolding said to Commercial Observer after his promotion to North America head. “I’m energized by this role and confident in our five‑year trajectory.”

    Bolding succeeds Bert Crouch, who is leaving for Apollo to head its real‑estate equity arm. At the same time, Rose was appointed CEO of the non‑listed Invesco Commercial Real Estate Finance Trust (INCREF), a vehicle launched in 2023 that Crouch had led.

    Rose recalled first partnering with Bolding on a deal while at Canyon Partners before joining Invesco in 2017. Their nine‑year partnership has relied on a data‑driven methodology. “Values have fallen to a healthy low and supply is tightening, which supports our rent‑growth outlook across many asset classes,” Rose said. “We’re early in both the equity and credit cycles, and Invesco is well positioned to capture the next cycle.”

    Both executives will report directly to Invesco Real Estate CEO R. Scott Dennis and join the global executive committee. As of March 31 2025, the firm managed $88 billion in assets. Bolding plans to focus on U.S. growth sectors such as rental housing, healthcare driven by an aging population, and artificial intelligence. “Our focus is long‑term,” he added. “We invest in enduring trends that evolve slowly.”