Invesque Acquires Commonwealth Senior Living
The Barack Ferrazzano Real Estate Group served as primary legal counsel to Invesque Inc. (TSX: IVQ.U) ("Invesque"), a healthcare real estate company serving the U.S. and Canada, in its acquisition of a number of senior living properties and Commonwealth Senior Living, LLC ("Commonwealth"), a transaction that will position Invesque as a leading healthcare platform and open the door for future growth.
In the first of two anticipated closings, Invesque acquired 17 private pay senior living communities comprising 1,205 units with 1,469 beds, and Commonwealth, a leading operator of senior living communities. The aggregate purchase price for this initial acquisition was approximately $285.4 million USD. The acquisition of the remaining three properties is expected to close in the next 90 days, subject to the approval of certain lenders of secured debt and customary closing conditions, including certain regulatory approvals.
Barack Ferrazzano's legal team was led by partners James R. Whitney and Joseph D. Lambert, along with Ashley B. Mahoney and Maximiliano J. Silvestre. Compensation and employment was handled by Andrew K. Strimaitis and Andrew J. Gordon and tax matters were handled by Michael J. Towne and Alice Lin.
To read more about this strategic acquisition, visit: https://www.invesque.com/press-releases/invesque-inc-closes-on-previously-announced-acquisition-of-commonwealth-senior-living-and-17-of-its-communities/
About Invesque Inc.
Invesque is a healthcare real estate company with an investment thesis centered around the opportunity created by the global aging demographic trend. Invesque currently capitalizes on this opportunity by investing in a highly diversified portfolio of income generating health care properties located across the United States and Canada through long-term absolute net leases, joint ventures, and development capital. For more information, visit www.invesque.com.