Overview
Barack Ferrazzano’s Corporate & Securities Group served as legal counsel to Invesque Inc. (“Invesque”) (TSX: IVQ and IVQ.U), a North American healthcare real estate company, in connection with the sale of 20 seniors housing communities managed by Commonwealth Senior Living, LLC (“Commonwealth”), as well as Invesque’s majority ownership stake in Commonwealth.
Proceeds from the transaction were used to repay all property-level debt associated with the assets, extinguish all unpaid and accrued preferred equity tied to the portfolio, and cover transaction-related costs. As a result of the transaction, Commonwealth has ceased managing any Invesque-owned properties.
“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,” said Adlai Chester, Chief Executive Officer of Invesque.
Barack Ferrazzano’s legal team was led by partners Robert J. Morrow and James R. Whitney and associate Jacob Aubrecht.
To read more about this transaction, visit: Yahoo Finance | Invesque Inc. Completes Previously Announced Sale of 20 Seniors Housing Assets and its Ownership Interests in Commonwealth Senior Living
