Business
Invesque Inc. Completes Disposition of 11 Seniors Housing Assets and Manager Changes at Four Other Properties
Invesque Inc. Completes Disposition of 11 Seniors Housing Assets and Manager Changes at Four Othe...
About this update from Invesque Inc
[{"type":"text","content":"\n\n\n\n Invesque Inc. Completes Disposition of 11 Seniors Housing Assets and Manager Changes at Four Other Properties\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n July 28, 2025\n \n\n /CNW/ - Invesque Inc. (the \"\n \n Company\n \n \" or \"\n \n Invesque\n \n \") (TSX: IVQ) (TSX: IVQ.U) announced today that over the last 40 days it has transitioned the day-to-day management of four assets to new operating partners and closed on the sale of eleven seniors housing communities via two separate transactions.\n \n\n On\n \n June 18, 2025\n \n , the Company transitioned management of a community in\n \n Zachary, Louisiana\n \n from a triple-net lease to a third-party management structure with\n \n Viva Senior Living\n \n , a regional operator that currently manages more than 20 assets, one other asset which is owned by the Company.\n \n\n On\n \n July 1, 2025\n \n , the Company transitioned management of three memory care communities in\n \n Texas\n \n and\n \n Arkansas\n \n to Constant Care Management Company (\"CCMC\"), one of the industry's premier memory care providers. CCMC has significant experience operating in both states and the Company anticipates improvements in financial performance because of the transition.\n \n\n On\n \n July 14, 2025\n \n , the Company sold a community in\n \n Syracuse, New York\n \n for\n \n US$5.8 million\n \n . The community was previously managed by Hearth Management under a triple-net lease. A portion of the proceeds from the sale were used to repay property level debt associated with the asset and pay other transaction-related costs.\n \n\n On\n \n July 25, 2025\n \n , the Company sold ten memory care assets in\n \n Texas\n \n ,\n \n Indiana\n \n ,\n \n Arkansas\n \n and\n \n Michigan\n \n that were previously managed via a triple-net lease by CCMC for\n \n US$83.2 million\n \n . A portion of the proceeds from the sale were used to repay property level debt associated with the assets and pay other transaction-related costs.\n \n\n \"Year-to-date, we have executed on the sale...