Invesque to acquire MCAP-backed Commonwealth Senior Living
Invesque Inc (TSX: IVQ) has agreed to acquire Commonwealth Senior Living LLC, a Charlottesville, Virginia-based developer, owner and operator of senior living communities. The deal, which includes 20 communities comprising 1,440 units with 1,716 beds, reflects a purchase price of US$340.4 million ($458 million). It is expected to close in Q3 2019. Commonwealth was founded in 2002 by Richard Brewer and Municipal Capital Appreciation Partners (MCAP), a U.S. real estate private equity firm. Following the deal, Invesque, a Toronto-based healthcare real estate company, said it will have more than US$1.8 billion of asset value with 122 properties.
22 May 2019•6 mins read
