Invesque’s CFO has agreed to purchase an additional 30.2% ownership stake in the healthcare real estate firm for $846,875.

Invesque invests in a portfolio of mainly private-pay seniors communities located in Ontario and the U.S. As a public company that trades on the Toronto Stock Exchange, Invesque is legally based in the Ontario capital. But most of the firm’s assets are located in the U.S.

The portfolio includes independent living, assisted living, and memory care facilities which are operated with partners under long-term leases and joint-venture arrangements.

Adlai Chester is slated to acquire the stake through IVQ Stock Holding Company (ISHC), which he controls. Chester and Invesque’s board announced that he and ISHCwill purchase the stake from certain subsidiaries of Tiptree, based on a price of $0.049868 per share for 16,982,283 common shares.

The acquisition is expected to close by April 30. Tiptree will no longer own or control any shares in the company.

Chester already owns 212,907 shares through ISHC. Upon completion, the acquisition will give him and ISHC a total of 17,195,190 shares, or 30.6% of the company.

Invesque said that ISHC is relying on the private agreement exemption under section 4.2 of Canada’s National Instrument 62-104, which covers takeover and issuer bids. Because the bid was made by fewer than five people, it was not offered to other shareholders

Tiptree is a Connecticut-based holding company that combines insurance operations with investment management.