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Bridge Investment Group subsidiary has secured a $354.6 million loan to refinance 24 industrial assets across six states, spanning over 2.4 million square feet. The financing was provided by Invesco Commercial Real Estate Finance Trust (INCREF), a private credit real estate investment trust owned by Invesco Real Estate.

    The loan carries a loan-to-value ratio of less than 70 percent and is secured by a well-leased, cash-flowing portfolio. According to Charlie Rose, global head of credit for Invesco Real Estate, the loan complements INCREF's existing portfolio of moderate leverage loans made to top-tier institutional sponsors.

    "This financing strengthens our ability to execute a core logistics investment strategy across U.S. markets," said Matt Berger, chief financial officer at Bridge Logistics Properties. The 24-property portfolio spans California, Washington, Texas, New Jersey, New York, and Florida, totaling 2.45 million square feet.

    The $354.6 million loan aligns with INCREF's strategy to originate income-generating loans secured by high-quality assets in liquid markets. "Bridge Logistics Properties are exceptional investors and operators in these key logistics markets," said Yorick Starr, managing director for Invesco Real Estate.

    INCREF now has a portfolio of 61 loans totaling $3.6 billion in commitments. Each loan closed this year represents the firm's focus on high-quality floating-rate real estate credit, according to Rose.