Business
Invesque Inc. Completes Previously Announced Sale of 20 Seniors Housing Assets and its Ownership Interests in Commonwealth Senior Living
Invesque Inc. Completes Previously Announced Sale of 20 Seniors Housing Assets and its Ownership ...
About this update from Invesque Inc
[{"type":"text","content":"\n\n\n\n Invesque Inc. Completes Previously Announced Sale of 20 Seniors Housing Assets and its Ownership Interests in Commonwealth Senior Living\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 June 4, 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 it has completed the previously announced sale of 20 seniors housing communities managed by Commonwealth Senior Living, LLC (\"\n \n Commonwealth\n \n \"), together with the Company's majority ownership stake in Commonwealth (collectively, the \"\n \n Transaction\n \n \").\n \n\n The 20-asset portfolio, as well as Invesque's ownership interests in Commonwealth, were sold and proceeds from the Transaction were used to repay all property level debt associated with the assets, extinguish all unpaid and accrued preferred equity associated with the portfolio, and to pay other transaction-related costs.\n \n\n Upon completion of the Transaction, Commonwealth has ceased to manage any Invesque-owned properties. The Company's portfolio currently consists of 32 assets, 12 of which remain under definitive contract to be sold, subject to satisfaction or waiver of due diligence conditions in favour of the purchasers and other customary closing conditions as previously disclosed.\n \n\n \"The Commonwealth platform has been a large part of Invesque's story over the last five and a half years, and we wish the Commonwealth team nothing but the best in the future,\" stated\n \n Adlai Chester\n \n , Chief Executive Officer of Invesque. \"We have determined that it is in the Company's best interest to exit the Commonwealth business and substantially reduce the leverage of the broader Company.\"\n \n\n\n About Invesque\n \n\n\n Invesque is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in\n \n North America\n \n will continue to utilize health care services in growing proportion to the overall economy. Invesque currentl...