Senior Housing News May 12, 2022
Real estate investment firm Invesque (TSE: IVQ.U) is poised to continue pruning its portfolio this year and beyond.
The Carmel, Indiana-based REIT has spent the last 10 months selling $300 million in assets, with the proceeds of the transactions being used to reduce leverage and shore up the company’s balance sheet as it manages its portfolio and pivots to private-pay senior living communities.
Five years ago, about 75% of Invesque’s net operating income (NOI) came from skilled nursing operations. Now, the company’s portfolio is weighted in favor of senior housing, which comprises 60% of the company’s current NOI.
And looking ahead, CEO Scott White expects the company will continue down that road by selling more non-strategic assets, at least for...