Your 1031 DST Authority
IREX V Diversified Portfolio DST
Offering Overview
IREX V Diversified Portfolio DST is a $97.6 million all-cash, zero-debt Delaware Statutory Trust sponsored by Invesco Real Estate (a unit of Invesco Ltd.) and tied to Invesco Real Estate Income Trust (INREIT). The trust owns two stabilized, income-producing properties: The Elizabeth on Seventh, a mixed-use office and retail building in Charlotte, North Carolina (95.3% leased across 19 tenants), and Gateway One, an industrial facility in West Columbia, South Carolina. With no debt encumbering the properties, the trust projects a 4.50% first-year distribution rising to 5.15% by year 6 (4.82% average), a $250,000 minimum, and a Section 721 exchange option into INREIT.
Investment Highlights
- All-cash, zero-debt diversified DST - no refinancing or loan-maturity risk.
- Two stabilized assets: a 95%-leased Charlotte office/retail building and a West Columbia, SC industrial facility.
- 4.50% first-year distribution rising to 5.15% (4.82% average).
- Sponsored by Invesco Real Estate; Section 721 exchange option into Invesco Real Estate Income Trust (INREIT).
- $250,000 minimum; institutional INREIT management.
Forecasted Cash Flow
Projected annual cash-on-cash distributions with the corresponding tax-equivalent yield over the hold, based on the sponsor’s underwriting assumptions.
Illustrative projections only — targeted distributions are not guaranteed and actual results will vary. Tax-equivalent yield assumes depreciation shelter of distributed income.
Analyst Notes
A conservative, debt-free diversified DST emphasizing capital preservation and a clean INREIT 721 exit. Office/retail exposure is the main differentiator to weigh against the all-cash safety.
Pros
Debt-free structure removes leverage and refinancing risk; institutional Invesco/INREIT sponsorship and 721 optionality; diversification across property types and two Carolinas markets; stabilized, leased assets.
Cons
Office/retail exposure carries tenant-rollover and sector risk; modest early yield; $250,000 minimum; all-cash structure means no positive leverage; INREIT-affiliated master tenant.
Financing
This offering is unleveraged — the DST holds its assets debt-free (0% loan-to-value), so no mortgage financing applies.
Benchmark Comparison
| Metric | This Offering | Benchmark | Difference |
|---|---|---|---|
| Average Yield | 4.82% | 4.82% | +0.00% |
| Max Yield | 4.50% | 4.50% | +0.00% |
| 10-Yr Income Growth | 0.00% | 0.00% | — |
Benchmark reflects the average of comparable Diversified offerings. Differences are relative to the benchmark.
Offering Documents
Offering Documents Available By Request
About the Sponsor
Invesco reaches the 1031 market through Invesco Real Estate Exchange (INREX), the DST arm of a global asset manager whose real estate group oversees roughly $85 billion, and it complements that with the Invesco Commercial Real Estate Finance Trust. With a 40-year real estate track record and institutional sourcing across sectors including industrial and cold storage, Invesco brings disciplined, research-driven underwriting to exchangers—DSTs being one channel within a roughly $1.8 trillion global platform.
This page describes a specific Delaware Statutory Trust offering (IREX V Diversified Portfolio DST) and is provided for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security. Any offering is made solely to verified accredited investors and only by means of a confidential private placement memorandum (PPM).
All figures shown — including minimum investment, cash-flow projections, tax-equivalent yield, loan-to-value, and hold period — reflect the sponsor's current estimates and assumptions and are not guarantees of future performance. Tax-equivalent yield depends on each investor's tax circumstances; projected distributions may not be achieved and actual results will vary. Sponsor track record, benchmark data, and full-cycle averages describe prior programs and are not indicative of the results of this offering.
An investment in a DST is speculative, illiquid, and involves a high degree of risk, including the possible loss of the entire amount invested. There is no public market for these interests, distributions are not guaranteed, and investors have no control over property operations. 1031 exchange and tax treatment depend on each investor's individual circumstances and on tax laws that are subject to change; consult your own tax and legal advisors.
Tax-equivalent yield represents the pre-tax yield a fully taxable investment would need to generate in order to match the after-tax cash flow of this offering. It assumes that a portion of distributions is sheltered by depreciation and other deductions, and it depends entirely on each investor's individual tax bracket, state of residence, and holding structure. It is illustrative only and is not a projection of return. Cap rate equivalent is the implied capitalization rate (net operating income divided by purchase price) shown solely for comparison to direct real estate; it is not a distribution rate, a yield, or a measure of investor return.
This offering and all terms shown are subject to change, withdrawal, or cancellation at any time without notice, and availability is not guaranteed. Nothing on this page creates a commitment or reservation. An investment is confirmed only upon the sponsor's acceptance of fully executed subscription documents; no other communication, indication of interest, or reservation constitutes a binding investment.