SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Realty, Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,972,698.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,972,698.00

Aggregate amount beneficially owned by each reporting person

5,972,698.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

10.24 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc. See the Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Advisers, Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

CO, IA

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Group Services, Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

OppenheimerFunds, Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

COLORADO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

CO, IA

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Oppenheimer Acquisition Corp.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Holding Company (US), Inc.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Holding Company Limited

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

CUSIP No.

Name of reporting person

Invesco Ltd.

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 6,487,945.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,487,945.00

Aggregate amount beneficially owned by each reporting person

6,487,945.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Percent of class represented by amount in Row (11)

11.12 %

Type of Reporting Person (See Instructions)

IA, HC

Comment for Type of Reporting Person:

This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. With respect to rows 8, 10 and 11, this amount includes 1,498,497 shares of Class S common stock, 1,499,487 shares of Class D common stock, 1,495,126 shares of Class I common stock and 1,479,586 shares of Class E common stock held directly by Invesco Realty, Inc.; and 515,246 shares of Class E common stock held directly by Invesco Advisers, Inc. See the Explanatory Note below for more information. See Explanatory Note below for more information. With respect to row 13, based on a total of 58,333,811 shares of common stock issued and outstanding.

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Class I Common Stock, par value $0.01 per share

(b)

Name of Issuer:

Invesco Commercial Real Estate Finance Trust, Inc.

(c)

Address of Issuer's Principal Executive Offices:

2300 N FIELD STREET, SUITE 1200, Dallas, TEXAS , 75201.

Item 1 Comment:

Explanatory Note This Statement constitutes Amendment No. 13 ("Amendment No. 13") to the Omnibus Amendment to Schedule 13D filed with the Securities and Exchange Commission on April 3, 2024, as amended on May 2, 2024, September 4, 2024, December 3, 2024, February 5, 2025, February 10, 2025, March 31, 2025, May 5, 2025, August 5, 2025, November 5, 2025, February 4, 2026, April 3, 2026 and May 5, 2026 by Invesco Realty, Inc., Invesco Advisers, Inc., Invesco Group Services, Inc., OppenheimerFunds, Inc., Oppenheimer Acquisition Corp., Invesco Holding Company (US), Inc., Invesco Holding Company Limited and Invesco Ltd. (collectively, the "Reporting Persons"). Amendment No. 13 relates to the Reporting Persons' beneficial ownership of Class D common stock, Class E common stock, Class I common stock and Class S common stock of the Issuer and is being filed to update ownership of Class E shares by Invesco Advisers, Inc.

Item 5.

Interest in Securities of the Issuer

(a)

The information contained in Item 5(a) and (b) of the Omnibus Amendment is hereby amended to read in its entirety as follows: (a) and (b) The responses of each of the Reporting Persons with respect to Rows 11, 12, and 13 of the cover pages of this Schedule 13D that relate to the aggregate number of shares and percentage of common stock are incorporated herein by reference. The responses of each of the Reporting Persons with respect to Rows 7, 8, 9, and 10 of the cover pages of this Schedule 13D that relate to the number of shares of common stock as to which each of the persons or entities referenced in Item 2 above has sole or shared power to vote or to direct the vote of and sole or shared power to dispose of or to direct the disposition of (including but not limited to footnotes to such information) are incorporated herein by reference. Invesco Realty, Inc. is the record holder of 5,972,698.755 shares of common stock reported herein. The other Reporting Persons, all of which are parent companies to Invesco Realty, Inc., may be deemed to have beneficial ownership of the securities directly held by Invesco Realty, Inc. Invesco Advisers, Inc. is the record holder of 515,246.262 shares of Class E Stock reported herein. The other Reporting Persons who are parent companies to Invesco Advisers, Inc. may be deemed to have beneficial ownership of the securities directly held by Invesco Advisers, Inc.

(c)

On May 29, 2026, the Issuer repurchased an aggregate of 41,490.790 shares of Class E common stock held by Invesco Advisers, Inc. On August 3, 2026, the Issuer issued 99,706.462 shares of Class E common stock to Invesco Advisers, Inc. On August 31, 2026 the Issuer repurchased an aggregate of 52,626.636 shares of Class E common stock held by Invesco Advisers, Inc.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Invesco Realty, Inc.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Invesco Advisers, Inc.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Invesco Group Services, Inc.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

OppenheimerFunds, Inc.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Oppenheimer Acquisition Corp.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Invesco Holding Company (US), Inc.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Invesco Holding Company Limited

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Invesco Ltd.

Signature:	/s/ E. Elizabeth Day
Name/Title:	Attorney in Fact*
Date:	09/03/2026

Comments accompanying signature:

Pursuant to powers of attorney which are incorporated herein by reference to Exhibits 24.1-Exhibit 24.7 to the Form 4 filed by the Reporting Persons on September 4, 2024 and Exhibit 24.1 to the Form 4 filed by the Reporting Persons on December 1, 2025.