R. David Kelly has served as one of the independent directors of Invesco Commercial Real Estate Finance Trust, Inc. ("INCREF") and as lead independent director since March 2023. David has over 35 years of investment experience serving both public companies and private partnerships in the financial advisory and real estate development sectors. He is the founder and managing partner of StraightLine Realty Partners, LLC, an alternative investment platform with investments in real estate, financial services and venture capital. David has served as an independent director of Invesco Real Estate Income Trust Inc. ("INREIT") since 2019 and serves as its lead independent director. David also serves as chairman and CEO of Croesus and Company, an international real estate advisory firm, as lead director of TCW Direct Lending, focused on lending senior-secured loans primarily to US-based mid-market companies, as an independent director of Acadia Healthcare (NASDAQ: ACHC) and as an at-large director of Ashton Woods Homes. From 2007 to 2017, David served as a trustee and Chairman of Teacher’s Retirement System of Texas. From 2001 to 2006, he was a gubernatorial appointee to the Texas Public Finance Authority (TPFA) and served as Chairman from 2002 to 2006. His previous corporate directorships include Croesus Merchants International Singapore, Hong Kong-based Everglory Financial Holdings, and Dubai-based Al Masah Capital Limited. David's civic and professional leadership experience includes service as director of the Children’s Medical Center Plano Governing Board, as member of Children’s Health Investment and Finance Committees, and on the Advisory Board of Sponsors for Educational Opportunity. He earned a B.A. in Economics from Harvard University and an M.B.A. from Stanford University.