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Cross Border News  + Ontario  + Healthcare  | 
Invesque sold U.S. seniors properties for US$74.2 million during the first quarter of 2024.

Invesque Sells Six U.S. Seniors Properties for US$74.2M

Invesque sold U.S. seniors properties for US$74.2 million during the first quarter of 2024.

Toronto-based Invesque reported the divestments in the company’s quarterly report.

Three nursing homes in Texas and Missouri were sold for US$55.5 million. Meanwhile, two other skilled-nursing facilities in Pennsylvania were divested for US$12.9 million, and Invesque received US$4 million for a South Carolina seniors community.

No buyers or specific property locations were disclosed.

Also during the quarter, Invesque’s stock holding company acquired 16.98 million common shares from affiliates of Tiptree, which divested its entire ownership stake. Invesque also amended its credit agreement with KeyBank, reducing several covenants associated with the debt. And, as Connected has reported, Adlai Chester was promoted to CFO after he purchased an addition 30.2% ownership stake in the healthcare real estate firm for $846,875.

The company subsequently promoted Quinn Haselhorst to CFO from senior vice-president of finance.

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.


Inside The Story

Adlai ChesterInvesque

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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