On April 27th, institutionally-managed, public real estate trust, Invesco Real Estate Income Trust, Inc. (INREIT), announced the acquisition of a new self-storage property. The property is a 491-unit self-storage facility situated at 3975 University Parkway, Winston-Salem, North Carolina. It is located just 1.5 miles away from Wake Forest University.
In today's capital market environment, self-storage assets with strong demand fundamentals are attractive investments that provide monthly mark-to-market opportunities to offset inflationary impacts. Self-storage is a resilient sector through economic cycles and we're pleased to acquire this desirable property."
R. Scott Dennis, President and Chief Executive Officer for INREIT
The property is an addition to INREIT’s self-storage portfolio, as the third investment boosts the portfolio to $75 million.