Invesque Inc. to Acquire Commonwealth Senior Living and 20 of its Communities
|Areas||Corporate and Commercial, Mergers and Acquisitions, Tax|
Goodmans LLP is counsel to Invesque Inc. in connection with its definitive agreement to acquire 20 private pay senior living communities (comprising of 1440 units with 1716 beds) and Commonwealth Senior Living, LLC for a purchase price of US$340.4 million.
The Transaction meaningfully increases Invesque's exposure to private pay seniors housing, which is expected to represent approximately 52% of the Company's consolidated net operating income post-closing. The Transaction, which is subject to customary closing conditions, is expected to close in the third quarter of 2019. Upon the closing of the Transaction, Invesque will have over US$1.8 billion of asset value with 122 properties and 10,844 beds strategically located in growing markets across 20 U.S. states and two Canadian provinces.