The following table details the components of due to affiliates:


in thousands	September 30, 2026		December 31, 2025
Advanced organization and offering expenses	$	6,789	$	6,789
Advanced operating expenses	5,386		5,386
Accrued stockholder servicing fee	2,884		2,527
Accrued reimbursable operating expenses(1)	2,770		3,849
Distributions payable	2,509		2,525
Performance participation interest	1,565		151
Accrued management fee	916		611
Accrued reimbursable organization and offering expenses(1)	731		534
Share-based compensation payable	—		23

Total	$	23,550	$	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 Offerings, 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 for the three and nine months ended September 30, 2026 and 2025:


			Three Months Ended				Nine Months Ended
in thousands	Fee Paid	Fee based on Percentage of Interest Sold	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Paid Upfront when Interest Sold
Invesco Distributors, Inc.	Upfront Selling Commissions(1)	Up to 5.0%	$	(1,001)	$	(519)	$	(1,561)	$	(1,253)
Invesco Distributors, Inc.	Upfront Dealer Manager Fees(1)	Up to 1.0%	(347)		(187)		(699)		(391)
Invesco Distributors, Inc.	Placement Fees(1)	Up to 1.0%	—		—		—		—
Invesco REIT Operating Partnership L.P.	Organizational & Offering Expense Reimbursement(2)	0.50%	398		262		779		603
Invesco REIT Operating Partnership L.P.	Closing Cost Reimbursement(2)	0.50%	398		262		779		603

Paid Per Annum
Invesco Distributors, Inc.	Investor Servicing Fee(1)	Up to 0.25%	$	(218)	$	(86)	$	(548)	$	(198)

Invesco DST Manager, LLC	Management Fee	Up to 0.15%	(131)		(47)		(329)		(114)

The table below shows the amount of shares/units and the total purchase price of those shares/units held by affiliates as of September 30, 2026 and December 31, 2025, excluding the Class E shares issued for payment of the management fee and the Class E units issued for payment of the performance fee held by the Adviser as described above.


	September 30, 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	—	—	—	—	—	15,818,838	—	—	$	463,585
Invesco Global Property Plus Fund	—	—	—	—	446,957	—	—	—	14,623
Invesco Realty, Inc.	90	91	91	—	—	—	878,895	439,448	39,016
Members of our board of directors and employees of our Adviser(1)	—	—	—	—	139,163	—	—	—	3,880
Total	90	91	91	—	586,120	15,818,838	878,895	439,448	$	521,104


	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.