BMO Capital Markets is serving as financial advisor to Invesque. Balancing Support with Independence. Invesque (TSX: IVQ.U) is wasting no time in building up the $340 million Commonwealth Senior Living portfolio acquired in May. Copyright © 2021 Haymarket Media, Inc. All Rights Reserved, Close more info about Commonwealth Senior Living to be acquired by Invesque for $340.4 million, McKnight's Women of Distinction Awards and Forum, McKnight's Excellence in Technology awards, Women of Distinction 2019: Kristy Ruppe Craddock, Commonwealth rebranding replaces ‘assisted living’ with ‘senior living’, New law requires disclosure of referral relationships. vbedi@invesque.com. Assisted Living at Commonwealth Senior Living. Commonwealth Senior Living Overview. Invesque currently capitalizes on this opportunity by investing in a highly diversified portfolio of income generating health care properties located across the United States and Canada through long-term absolute net leases, joint ventures, and development capital. Commonwealth Senior Living acquired Cedar Manor Assisted Living, an assisted living facility in Chesapeake, Virginia including 60 assisted living beds and 12 memory care beds. In fact, 88% of our employees said they feel the work they do has special meaning and is not “just a job”. Commonwealth Senior Living At Leigh Hall, an Assisted Living, Retirement, Alzheimer's Care facility located at 890 Poplar Hall Dr, Norfolk,VA, 23502, seniorhousingnet.com . The Preferred Interests have a fixed liquidation value and an expected initial dividend rate of 6.50% per annum. Invesque described the communities as having an average age of 10 years and being located in “attractive and growing markets.”. The company was founded in 2002 by CEO Richard Brewer with Municipal Capital Appreciation Partners. Offering assisted living and memory care, Commonwealth Senior Living at The West End welcom… We are committed to delivering high quality senior care. At Commonwealth Senior Living at Charlottesville, we provide an assortment of community features. The Charlottesville … Brewer and Municipal Capital Appreciation Partners (“MCAP”), Commonwealth has an established reputation as a high-quality senior living operator with industry-wide recognition for differentiated and innovative care programming, best practices in talent acquisition and development, and an award-winning dedication to providing exceptional quality resident care. There may come a time when you are no longer able, or no longer wish, to live alone. Invesque also will obtain an exclusive right of first offer on three additional senior living communities that are managed by Commonwealth. Commonwealth’s revenue is generated from private pay funding sources, and the Portfolio does not have direct exposure to Medicare, Medicaid or other government funding sources. Houlihan Lokey Capital, Inc. is serving as financial advisor to Commonwealth. The remainder of the purchase price will be funded with a draw on the Company’s revolving credit facility and cash on hand. Founded in 2002 by Richard J. Meet Richard Brewer, President and CEO of Commonwealth Senior Living, a provider of independent living, assisted living and memory care services across 22 communities in Virginia. Furthermore, this transaction positions our portfolio well as we continue our focus on creating a diversified healthcare real estate company. Offering assisted living and memory care, Commonwealth Senior Living at Hillsville provides supportive services in a warm, inviting environment that feels like home. Commonwealth… The Hermitage Eastern Shore is being sold to Commonwealth Senior Living of Charlottesville, Virginia. Salaries posted anonymously by Commonwealth Senior Living … Twenty of our communities also offer the Sweet Memories program for Alzheimer’s disease and dementia care. The deal is expected to close in the third quarter. Commonwealth Senior Living is proud to be certified as a Great Place to Work(TM). It was a … We CARE about people. Commonwealth, collectively with its affiliates, is a leading high-quality developer, owner, and operator of senior living communities led by a highly experienced team focused on both operations and steady growth through acquisition, expansion, and redevelopment opportunities. Company Culture at Commonwealth Senior Living. Welcome to the Careers Center for Commonwealth Senior Living. Burr & Forman LLP is serving as Commonwealth’s legal counsel. The Company offers retirement and assisted living homes. Such measures, as computed by the Company, may differ from similar computations as reported by other similar organizations and, accordingly, may not be comparable to the measures reported by such other organizations. 135 reviews from Commonwealth Senior Living employees about Commonwealth Senior Living culture, salaries, benefits, work-life balance, management, job security, and more. Toronto-based Invesque, which changed its name from Mainstreet Health Investments in early 2018, has entered into an agreement to acquire Charlottesville, VA-based Commonwealth Senior Living for $340.4 million. The acquisition will bring Invesque’s portfolio to 122 properties and 10,844 beds, collectively worth more than $1.8 billion, in 20 states and two Canadian provinces. The cost at this community starts at $5,550, while the average cost for a senior living community in South Boston, VA is $4,451. 73% of employees at Commonwealth Senior Living … The properties have a total of 1,440 units with 1,716 beds. Following completion of the Transaction, Commonwealth’s experienced senior management team will continue to manage and operate the Portfolio. McKnight’s Senior Living is the pre-eminent national media brand for owners, operators and senior living professionals working in independent living, assisted living, memory care and continuing care retirement / life plan communities. Commonwealth’s senior management team is expected to remain in place. This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Our stand-alone cottages, one for our memory care and one for assisted living, are p… The employee experience below at Commonwealth Senior Living, compared to a typical U.S. based company. 800-304-7152. Commonwealth Senior Living at Williamsburg is the ideal retirement community for seniors age 55+ who want to enjoy the freedom of living in a private apartment while appreciating the convenience of … “We have long believed alignment is the key to a successful partnership, and the Commonwealth acquisition allows us to vertically integrate with a leading regional operator,” Invesque Chairman and CEO Scott White said in a statement. “We have long believed alignment is the key to a successful partnership, and the Commonwealth acquisition allows us to vertically integrate with a leading regional operator. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. If and when that time comes, assisted living … Commonwealth Senior Living has a variety of communities offering independent living, assisted living and/or memory care throughout the Southeast United States – from cozy, warm surroundings to … ... but you may also find some communities where homes are bought and sold. Senior Living in Richmond, VA At Commonwealth Senior Living at The West End, “We Listen, We Love, We Care, We Serve.” These are the words we live by every day, and the promise we uphold to our residents, making a true difference in their lives. 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