Seniors housing firm Invesque announced it will seek shareholder approval to sell or lease all or substantially all of its assets.

The proposal will be voted on at the company’s annual and special meeting scheduled for June 18.

The initiatives are part of Invesque’s strategy to unlock shareholder value amid ongoing changes in the seniors housing sector. The Toronto-based company currently invests in independent living, assisted living, and memory care communities, primarily in the U.S. through various ownership and joint-venture arrangements, while also holding some Canadian assets.

The potential transactions could include the sale of assets or leases, mergers, or other business combinations, though no definitive agreements have been made, the company said. The board would have discretion over the terms and timing of any deals.

Shareholders will also consider approving a capital reduction of up to $183 million to enable special cash distributions. These returns of capital would follow any asset sales and debt repayments.

However, the company cautioned that there is no guarantee such distributions will occur or reach the maximum amount.

The plans come after Adlai Chester increased his stake in the company in 2024 while moving up to CEO from his former CFO post.

Chester agreed to purchase an additional 30.2% stake for $846,875 from former co-owner Tiptree after buying his initial share allotment from that company. Tiptree departed from the ownership group, as the second divestment comprised the balance of its stake in Invesque.

The firm’s departure and change at the top resulted in a broader shuffle among Invesque’s executive and board ranks.

Pictured: Invesque’s Terra Bluffs seniors housing complex in Parker, Colo.

Photo: Terra Bluffs/Invesque

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