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  <xs:element id="incref_FairValueOptionUnrealizedGainLoss" abstract="false" name="FairValueOptionUnrealizedGainLoss" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_FairValueOptionChangesInFairValueRealizedGainLoss" abstract="false" name="FairValueOptionChangesInFairValueRealizedGainLoss" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_FairValueOptionChangesInFairValueUnrealizedGainLoss" abstract="false" name="FairValueOptionChangesInFairValueUnrealizedGainLoss" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_TermLendingAgreementMember" abstract="true" name="TermLendingAgreementMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_SecuredLendingAgreementsRepurchaseAgreementsMember" abstract="true" name="SecuredLendingAgreementsRepurchaseAgreementsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_INCREFLendingIIMember" abstract="true" name="INCREFLendingIIMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_INCREFLendingIIIMember" abstract="true" name="INCREFLendingIIIMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_MorganStanleyBankMember" abstract="true" name="MorganStanleyBankMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_CitibankMember" abstract="true" name="CitibankMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_BarclaysMember" abstract="true" name="BarclaysMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_WellsFargoMember" abstract="true" name="WellsFargoMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_BankOfMontrealMember" abstract="true" name="BankOfMontrealMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_INCREFRepurchaseIMember" abstract="true" name="INCREFRepurchaseIMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_INCREFRepurchaseIIMember" abstract="true" name="INCREFRepurchaseIIMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_SubscriptionAgreementsCreditFacilityUncommittedTrancheMember" abstract="true" name="SubscriptionAgreementsCreditFacilityUncommittedTrancheMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_SubscriptionAgreementsCreditFacilityFundedTrancheMember" abstract="true" name="SubscriptionAgreementsCreditFacilityFundedTrancheMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_SubscriptionAgreementsCreditFacilityMember" abstract="true" name="SubscriptionAgreementsCreditFacilityMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_MasterRepurchaseAgreementMember" abstract="true" name="MasterRepurchaseAgreementMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_LongTermDebtNumberOfLenders" abstract="false" name="LongTermDebtNumberOfLenders" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_LineOfCreditFacilityDueOnDemandTradingDaysAfterNoticeThreshold" abstract="false" name="LineOfCreditFacilityDueOnDemandTradingDaysAfterNoticeThreshold" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_LineOfCreditFacilityDueTermFromIssuance" abstract="false" name="LineOfCreditFacilityDueTermFromIssuance" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_LineOfCreditFacilityDueTradingDaysAfterNotice" abstract="false" name="LineOfCreditFacilityDueTradingDaysAfterNotice" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_LineOfCreditFacilityDuePeriodPriorToLastIssuanceDate" abstract="false" name="LineOfCreditFacilityDuePeriodPriorToLastIssuanceDate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_SecuredLendingAgreementsMember" abstract="true" name="SecuredLendingAgreementsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_FairValueOptionFairValueCarryingAmountLiability" abstract="false" name="FairValueOptionFairValueCarryingAmountLiability" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_TransfersAccountedForAsSecuredBorrowingsNumberOfInstruments" abstract="false" name="TransfersAccountedForAsSecuredBorrowingsNumberOfInstruments" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_TransfersAccountedForAsSecuredBorrowingsAssetsPrincipalAmount" abstract="false" name="TransfersAccountedForAsSecuredBorrowingsAssetsPrincipalAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_ProceedsFromIssuanceOfCollateralizedLoanObligations" abstract="false" name="ProceedsFromIssuanceOfCollateralizedLoanObligations" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_USDEURForeignExchangeForwardMember" abstract="true" name="USDEURForeignExchangeForwardMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_USDGBPForeignExchangeForwardMember" abstract="true" name="USDGBPForeignExchangeForwardMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_EURUSDForeignExchangeForwardMember" abstract="true" name="EURUSDForeignExchangeForwardMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_GBPUSDForeignExchangeForwardMember" abstract="true" name="GBPUSDForeignExchangeForwardMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_DerivativeNotionalAmountRollForward" abstract="true" name="DerivativeNotionalAmountRollForward" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="incref_DerivativeNotionalAmountAdditions" abstract="false" name="DerivativeNotionalAmountAdditions" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_DerivativeNotionalAmountSettlementTerminationExpirationExercise" abstract="false" name="DerivativeNotionalAmountSettlementTerminationExpirationExercise" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_FairValueLiabilityRecurringBasisStillHeldUnrealizedForeignCurrencyGainLoss" abstract="false" name="FairValueLiabilityRecurringBasisStillHeldUnrealizedForeignCurrencyGainLoss" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_InstrumentsOtherThanCollateralizedLoanObligationsMember" abstract="true" name="InstrumentsOtherThanCollateralizedLoanObligationsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_FairValueOptionAssetsMeasurementInput" abstract="false" name="FairValueOptionAssetsMeasurementInput" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:decimalItemType"/>
  <xs:element id="incref_FairValueOptionLiabilitiesMeasurementInput" abstract="false" name="FairValueOptionLiabilitiesMeasurementInput" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:decimalItemType"/>
  <xs:element id="incref_SubscriptionsPaidInAdvance" abstract="false" name="SubscriptionsPaidInAdvance" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_AdvancedOrganizationalOfferingAndOperatingExpensesMember" abstract="true" name="AdvancedOrganizationalOfferingAndOperatingExpensesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_OperatingExpenseReimbursementMember" abstract="true" name="OperatingExpenseReimbursementMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_AdviserCommitmentFeePayableMember" abstract="true" name="AdviserCommitmentFeePayableMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_StockholderServicingFeesMember" abstract="true" name="StockholderServicingFeesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_ManagementFeesMember" abstract="true" name="ManagementFeesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_PerformanceFeesMember" abstract="true" name="PerformanceFeesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_AdviserMember" abstract="true" name="AdviserMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_DealerManagerMember" abstract="true" name="DealerManagerMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_DealerManagerCertainParticipatingBrokerDealersMember" abstract="true" name="DealerManagerCertainParticipatingBrokerDealersMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_CommonClassSAndClassDMember" abstract="true" name="CommonClassSAndClassDMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_ClassERedeemableCommonStockMember" abstract="true" name="ClassERedeemableCommonStockMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_RelatedPartyTransactionsOrganizationAndOfferingExpensesReimbursementTerm" abstract="false" name="RelatedPartyTransactionsOrganizationAndOfferingExpensesReimbursementTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_RelatedPartyTransactionsOperatingExpensesReimbursementPercentageOfAverageInvestedAssets" abstract="false" name="RelatedPartyTransactionsOperatingExpensesReimbursementPercentageOfAverageInvestedAssets" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_RelatedPartyTransactionsOperatingExpensesReimbursementPercentageOfNetIncome" abstract="false" name="RelatedPartyTransactionsOperatingExpensesReimbursementPercentageOfNetIncome" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_RelatedPartyTransactionReimbursementPeriodNumberOfConsecutiveQuarters" abstract="false" name="RelatedPartyTransactionReimbursementPeriodNumberOfConsecutiveQuarters" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="incref_CommitmentFeeBaseRate" abstract="false" name="CommitmentFeeBaseRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="incref_CommitmentFeeBaseRatePercentageOfLoanAmountThreshold" abstract="false" name="CommitmentFeeBaseRatePercentageOfLoanAmountThreshold" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="incref_RelatedPartyTransactionPercentageOfGrossProceedsFromSaleOfSharesThreshold" abstract="false" name="RelatedPartyTransactionPercentageOfGrossProceedsFromSaleOfSharesThreshold" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_PerformanceFeePerformanceFeeIncomeThresholdPeriod" abstract="false" name="PerformanceFeePerformanceFeeIncomeThresholdPeriod" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_TemporaryEquityStockIssuedDuringPeriodSharesManagementFeesNewIssues" abstract="false" name="TemporaryEquityStockIssuedDuringPeriodSharesManagementFeesNewIssues" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="incref_TemporaryEquityStockIssuedDuringPeriodSharesPerformanceFeesNewIssues" abstract="false" name="TemporaryEquityStockIssuedDuringPeriodSharesPerformanceFeesNewIssues" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="incref_AdvisoryAgreementAutomaticRenewalsTermPerRenewal" abstract="false" name="AdvisoryAgreementAutomaticRenewalsTermPerRenewal" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_AdvisoryAgreementTerminationFeeAverageAnnualManagementFeeMultiplier" abstract="false" name="AdvisoryAgreementTerminationFeeAverageAnnualManagementFeeMultiplier" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:decimalItemType"/>
  <xs:element id="incref_AdvisoryAgreementTerminationFeeTermBeforeTermination" abstract="false" name="AdvisoryAgreementTerminationFeeTermBeforeTermination" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_RelatedPartyTransactionStockholderServiceFee" abstract="false" name="RelatedPartyTransactionStockholderServiceFee" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_RelatedPartyTransactionUpfrontSellingCommissionsAsPercentageOfTransactionPrice" abstract="false" name="RelatedPartyTransactionUpfrontSellingCommissionsAsPercentageOfTransactionPrice" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_RelatedPartyTransactionStockholderServiceFeeAsPercentageOfNetAssetValue" abstract="false" name="RelatedPartyTransactionStockholderServiceFeeAsPercentageOfNetAssetValue" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_InvescoRealtyInc.Member" abstract="true" name="InvescoRealtyInc.Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_InvescoAdvisersInc.Member" abstract="true" name="InvescoAdvisersInc.Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_BoardOfDirectorsMembersMember" abstract="true" name="BoardOfDirectorsMembersMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_InvescoSubscriptionAgreementMember" abstract="true" name="InvescoSubscriptionAgreementMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_SaleOfStockPurchaseCommitmentCapitalCallableMaximumAmount" abstract="false" name="SaleOfStockPurchaseCommitmentCapitalCallableMaximumAmount" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_SaleOfStockPurchaseCommitmentCapitalCallable" abstract="false" name="SaleOfStockPurchaseCommitmentCapitalCallable" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_SaleOfStockPurchaseCommitmentCapitalCallableAdditionalAmount" abstract="false" name="SaleOfStockPurchaseCommitmentCapitalCallableAdditionalAmount" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_SaleOfStockPurchaseCommitmentCapitalCalled" abstract="false" name="SaleOfStockPurchaseCommitmentCapitalCalled" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_StockRepurchaseProgramMinimumNetAssetValueThreshold" abstract="false" name="StockRepurchaseProgramMinimumNetAssetValueThreshold" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_SaleOfStockAmountInSharesToBeHeldByRelatedParty" abstract="false" name="SaleOfStockAmountInSharesToBeHeldByRelatedParty" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_ClassSRedeemableCommonStockMember" abstract="true" name="ClassSRedeemableCommonStockMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_ClassDRedeemableCommonStockMember" abstract="true" name="ClassDRedeemableCommonStockMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_ClassIRedeemableCommonStockMember" abstract="true" name="ClassIRedeemableCommonStockMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_TemporaryEquityStockIssuedDuringPeriodSharesNewIssues" abstract="false" name="TemporaryEquityStockIssuedDuringPeriodSharesNewIssues" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="incref_TemporaryEquityStockRepurchasedDuringPeriodShares" abstract="false" name="TemporaryEquityStockRepurchasedDuringPeriodShares" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="incref_StapledUnitsMember" abstract="true" name="StapledUnitsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_NewStapledUnitsMember" abstract="true" name="NewStapledUnitsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_A2023EquityIncentivePlanMember" abstract="true" name="A2023EquityIncentivePlanMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_StockRepurchaseProgramParticipationNetAssetValueThreshold" abstract="false" name="StockRepurchaseProgramParticipationNetAssetValueThreshold" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_CommonStockDividendsPerShareServicingFee" abstract="false" name="CommonStockDividendsPerShareServicingFee" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:perShareItemType"/>
  <xs:element id="incref_CommonStockDividendsPerShareDeclaredNet" abstract="false" name="CommonStockDividendsPerShareDeclaredNet" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:perShareItemType"/>
  <xs:element id="incref_EarningsPerShareBasicAndDilutedEPSAbstract" abstract="true" name="EarningsPerShareBasicAndDilutedEPSAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="incref_FairValueOptionFairValueCarryingAmountLiabilitiesTerm" abstract="false" name="FairValueOptionFairValueCarryingAmountLiabilitiesTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_LineOfCreditFacilityArrangerFeePercentage" abstract="false" name="LineOfCreditFacilityArrangerFeePercentage" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="incref_LineofCreditFacilityAccordionFeatureIncreaseLimit" abstract="false" name="LineofCreditFacilityAccordionFeatureIncreaseLimit" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_LongTermDebtTermExtensionOptionsTerm" abstract="false" name="LongTermDebtTermExtensionOptionsTerm" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="incref_CommittedCapitalCancellation" abstract="false" name="CommittedCapitalCancellation" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="incref_DistributionReinvestmentPlanDRPSharesMember" abstract="true" name="DistributionReinvestmentPlanDRPSharesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="incref_PaymentForManagementFeesMember" abstract="true" name="PaymentForManagementFeesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
</xs:schema>
