Invesco Affiliates, Others Acquire $880M Portfolio From Bank Of America

Invesco Ltd. subsidiaries WL Ross & Co. LLC and Invesco Advisers Inc. have teamed with Square Mile Capital Management LLC and the Canyon-Johnson Urban Funds to purchase a portfolio of performing and nonperforming commercial real estate loans from Bank of America.

The 29 loans are secured by office, retail, industrial, multifamily and lodging properties located across 16 states. The properties carry an aggregate unpaid principal balance of approximately $880 million.

Capital for the investment was provided by Invesco Mortgage Recovery Fund, a fund co-managed by Invesco Real Estate, Invesco Fixed Income and WL Ross & Co. LLC; Invesco Mortgage Capital Inc., a mortgage real estate investment managed by Invesco Advisers; Canyon-Johnson Urban Fund III; and a fund managed by Square Mile Capital.

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