The following table details the components of due to affiliates:


in thousands	March 31, 2026		December 31, 2025
Advanced organization and offering expenses	$	6,789	$	6,789
Advanced operating expenses	5,386		5,386
Accrued reimbursable operating expenses(1)	5,188		3,849
Accrued stockholder servicing fee	2,707		2,527
Distributions payable	2,532		2,525
Performance participation interest	781		151
Accrued management fee	684		611
Accrued reimbursable organization and offering expenses(1)	645		534
Share-based compensation payable	23		23

Total	$	24,735	$	22,395

(1)We reimburse the Adviser on a quarterly basis for all accrued operating expenses incurred subsequent to December 31, 2021 and accrued organization and offering expenses incurred subsequent to December 31, 2022. Please refer to the ‘Accrued Reimbursable Operating, Organization and Offering Expenses’ section below for further details.

The following table presents the upfront selling commissions and dealer manager fees for each class of shares sold in the Public Offering and the Private Offering, and the stockholder servicing fee per annum based on the aggregate outstanding NAV:


	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class S-PR Shares	Class K-PR Shares	Class N Shares
Maximum Upfront Selling Commissions (% of Transaction Price)	up to 3.0%(1)	up to 3.5%	up to 1.5%	—	—	up to 3.5%	—	—
Maximum Upfront Dealer Manager Fees (% of Transaction Price)	0.5%(1)	—	—	—	—	—	—	—
Stockholder Servicing Fee (% of NAV)	0.85%(2)	0.85%	0.25%	—	—	0.85%	—	—

(1)For Class T shares sold in the Public Offering (other than as part of our distribution reinvestment plan), investors will pay upfront selling commissions of up to 3.0% of the transaction price and upfront dealer manager fees of 0.5% of the transaction price, however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5% of the transaction price.

The table below shows the expenses incurred and income recorded related to our DST Program as of March 31, 2026 and 2025.


in thousands	Fee Paid	Fee based on Percentage of Interest Sold	March 31, 2026		March 31, 2025
Paid Upfront when Interest Sold
Invesco Distributors, Inc.	Upfront Selling Commissions(1)	Up to 5.0%	$	424	$	575
Invesco Distributors, Inc.	Upfront Dealer Manager Fees(1)	Up to 1.0%	232		171
Invesco Distributors, Inc.	Placement Fees(1)	Up to 1.0%	—		—
INREIT Operating Partnership LP	Organizational & Offering Expense Reimbursement(2)	0.50%	302		301
INREIT Operating Partnership LP	Closing Cost Reimbursement(2)	0.50%	302		301

Paid Per Annum
Invesco Distributors, Inc.	Investor Servicing Fee(1)	Up to 0.25%	$	153	$	43

Invesco DST Manager, LLC	Management Fee	Up to 0.15%	92		26

(1)Upfront selling commissions, upfront dealer manager fees, placement fees and investor servicing fees may be waived or re-allowed in whole or in part to participating broker-dealers.

The table below shows the amount of shares and the total purchase price of those shares held by affiliates as of March 31, 2026 and December 31, 2025, excluding the Class E Shares issued for payment of the management fee held by the Adviser as described above.


	March 31, 2026
in thousands, except share amounts	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Class S-PR Shares	Class K-PR Shares	Total Purchase Price
MassMutual	—	—	—	—	—	15,418,839	—	—	$	452,489
Invesco Global Property Plus Fund	—	—	—	—	834,416	—	—	—	25,623
Invesco Realty, Inc.	90	91	91	—	—	—	878,895	439,448	39,016
Members of our board of directors and employees of our Adviser(1)	—	—	—	—	138,492	—	—	—	3,861
Total	90	91	91	—	972,908	15,418,839	878,895	439,448	$	520,989


	December 31, 2025
in thousands, except share amounts	Class T Shares	Class S Shares	Class D Shares	Class I Shares	Class E Shares	Class N Shares	Class S-PR Shares	Class K-PR Shares	Total Purchase Price
MassMutual	—	—	—	—	—	15,222,611	—	—	$	447,075
Invesco Global Property Plus Fund	—	—	—	147,960	834,416	—	—	—	29,500
Invesco Realty, Inc.	90	91	91	—	—	—	878,995	439,448	39,016
Members of our board of directors and employees of our Adviser(1)	—	—	—	—	138,102	—	—	—	3,850
Total	90	91	91	147,960	972,518	15,222,611	878,995	439,448	$	519,441

(1)Members of our board of directors and employees of our Adviser are made up of officers of the Company or employees who serve on the Company’s steering committee. This includes stock awards issued to members of our board of directors under our Share-Based Compensation Plan. Total Purchase Price for stock awards issued under our Share-Based Compensation Plan represents the value of shares issued as equity compensation.