Healthcare real estate company Invesque has closed on the final three private-pay senior living communities that were part of a 20-property Commonwealth Senior Living portfolio acquisition announced in May, the company reported Dec. 24.
The aggregate purchase price of the three communities, which contain 196 units with 234 beds, was approximately $55 million, the company said.
Invesque had announced closure on 17 Commonwealth communities totaling 1,205 units and 1,469 beds on Aug. 1. The aggregate purchase price for those communities was approximately $285.4 million.
Altogether, the 20 independent living, assisted living and memory care communities are located in Virginia (19) and Pennsylvania (1).
With the closing of the second tranche of the deal, Invesque’s portfolio now includes 124 buildings with approximately 11,000 beds and approximately 578,000 rentable square feet of medical office space. Private-pay senior housing now represents approximately 55% of pro forma net operating income of the company.
Invesque also previously closed on the acquisition of the Commonwealth management company.