Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes our total assets by segment:

$ in thousands	March 31, 2022		December 31, 2021
Healthcare	$	83,098	$	80,455
Office	39,619		38,633
Industrial	147,396		60,071
Self-Storage	54,491		57,305
Multifamily	67,368		67,866
Student Housing	239,052		242,014
Grocery-Anchored Retail	66,375		—
Real Estate Preferred Equity	22,697		21,088
Corporate and Other	59,812		44,945
Total assets	$	779,908	$	612,377

The following table summarizes our financial results by segment for the three months ended March 31, 2022:

$ in thousands	Healthcare		Office		Industrial		Self-Storage		Multifamily		Student Housing		Grocery-Anchored Retail		Real Estate Preferred Equity		Corporate and Other		Total
Revenues:
Rental revenue	$	—	$	737	$	1,645	$	1,103	$	1,243	$	4,213	$	722	$	—	$	—	$	9,663
Other revenue	—		—		88		162		119		214		—		—		—		583
Total revenues	—		737		1,733		1,265		1,362		4,427		722		—		—		10,246
Expenses:
Rental property operating	—		131		449		396		414		1,576		210		—		42		3,218
Total expenses	—		131		449		396		414		1,576		210		—		42		3,218
Income from unconsolidated entities	8,177		—		—		—		—		—		—		606		220		9,003
Income from real estate-related securities	—		—		—		—		—		—		—		—		28		28
Segment net operating income	$	8,177	$	606	$	1,284	$	869	$	948	$	2,851	$	512	$	606	$	206	$	16,059
Depreciation and amortization	$	(5,024)	$	(415)	$	(582)	$	(2,708)	$	(493)	$	(4,270)	$	(247)	$	—	$	(63)	$	(13,802)
General and administrative																			(1,623)
Unrealized gain on derivative instruments																			1,516
Interest expense																			(2,037)
Management fee - related party																			(114)
Performance participation interest - related party																			(2,121)
Other income (expense)																			(75)
Net loss attributable to Invesco Real Estate Income Trust Inc.																			$	(2,197)
Dividends to preferred stockholders																			$	(2)
Net loss attributable to non-controlling interests in consolidated joint ventures																			14
Net loss attributable to non-controlling interest in INREIT OP																			261
Net loss attributable to common stockholders																			$	(1,924)

The following table reconciles our segment income from unconsolidated entities to income from unconsolidated entities, net on our condensed consolidated statement of operations for the three months ended March 31, 2022:

$ in thousands
Segment income from unconsolidated entities	$	9,003
Depreciation and amortization attributable to unconsolidated entities	(5,024)
Income from unconsolidated entities	$	3,979

The following table reconciles our segment depreciation and amortization to depreciation and amortization on our condensed consolidated statement of operations for the three months ended March 31, 2022:

$ in thousands
Segment depreciation and amortization	$	(13,802)
Depreciation and amortization attributable to unconsolidated entities	5,024
Depreciation and amortization	$	(8,778)

The following table summarizes our financial results by segment for the three months ended March 31, 2021:

$ in thousands	Healthcare		Office		Industrial		Multifamily		Real Estate Preferred Equity		Corporate and Other		Total
Revenues:
Rental revenue	$	—	$	687	$	566	$	862	$	—	$	—	$	2,115
Other revenue	—		—		—		63		—		—		63
Total revenues	—		687		566		925		—		—		2,178
Expenses:
Rental property operating	—		96		163		253		—		—		512
Total expenses	—		96		163		253		—		—		512
Income from unconsolidated real estate entities	5,959		—		—		—		447		—		6,406
Income from real estate-related securities	—		—		—		—		—		9		9
Segment net operating income	$	5,959	$	591	$	403	$	672	$	447	$	9	$	8,081
Depreciation and amortization	$	(4,674)	$	(298)	$	(211)	$	(1,016)	$	—	$	—	$	(6,199)
General and administrative													(1,161)
Interest expense													(503)
Performance participation interest - related party													(182)
Net income attributable to Invesco Real Estate Income Trust Inc.													36
Dividends to preferred stockholders													(2)
Net income attributable to common stockholders													$	34

The following table reconciles our segment income from unconsolidated entities to income from unconsolidated entities, net on our condensed consolidated statement of operations for the three months ended March 31, 2021:

$ in thousands
Segment income from unconsolidated entities	$	6,406
Depreciation and amortization attributable to unconsolidated entities	(4,674)
Income from unconsolidated entities	$	1,732

The following table reconciles our segment depreciation and amortization to depreciation and amortization on our condensed consolidated statement of operations for the three months ended March 31, 2021:

$ in thousands
Segment depreciation and amortization	$	(6,199)
Depreciation and amortization attributable to unconsolidated entities	4,674
Depreciation and amortization	$	(1,525)