Significant Progress Highlighted on Previously Announced Asset Dispositions
TORONTO, Aug. 7, 2025 /CNW/ – Invesque Inc. (TSX: IVQ.U) (TSX: IVQ) has reported its results for the three months and six months ending June 30, 2025, showcasing significant progress on previously announced asset dispositions and other operational milestones.
Second Quarter and Subsequent Highlights
The company successfully completed several sales transactions during and following the second quarter of 2025:
- On April 9, Invesque sold a seniors housing asset in Syracuse, New York for $25.1 million.
- On June 3, the company divested 20 seniors housing assets in Virginia and Pennsylvania, including its majority ownership stake in Commonwealth Senior Living, LLC.
- On July 14, another seniors housing asset in Syracuse, New York was sold for $5.8 million.
- On July 25, ten memory care assets across Texas, Indiana, Arkansas, and Michigan were sold, totaling $83.2 million.
In addition, the company transitioned management of three memory care assets in Texas and Arkansas to Constant Care Management Company, and one seniors housing asset in Louisiana to Viva Senior Living. The new managers are expected to stabilize operations and boost financial results further.
“In addition to achieving attractive valuations on sale transactions completed year to date, we have utilized cash proceeds to materially decrease leverage and streamline our capital stack,” commented Kari Onweller, EVP of Investments & Investor Relations. “We expect to make further progress on debt repayments during the remainder of this year.”
Financial Highlights
The financial performance for three and six months ended June 30, 2025, is presented below:
| Financial Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 |
|---|---|---|---|---|
| Revenue | $29,548 | $43,099 | $66,940 | $86,741 |
| Net Income (Loss) | $15,947 | $(15,815) | $7,044 | $(22,058) |
| FFO | $(1,491) | $1,424 | $561 | $3,928 |
| AFFO | $418 | $1,111 | $2,633 | $3,192 |
Balance Sheet and Portfolio Highlights
Details concerning the balance sheet and portfolio updates as of June 30, 2025, are as follows:
| Metric | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Total Assets | $325,569 | $640,138 |
| Number of Properties | 17 | 28 |
| Debt | $180,498 | $394,839 |
The company’s operational priorities include leveraging the demographic trends in the healthcare sector, with a focus on investing in income-generating, predominantly private-pay seniors housing communities. The portfolio is mainly comprised of independent living, assisted living, and memory care facilities operated under long-term leases, joint venture arrangements, and third-party management contracts.
Forward-Looking Information
The report contains forward-looking statements intended to provide insight into management’s expectations concerning future outcomes. Such statements involve various assumptions, risks, and uncertainties. Readers are cautioned not to place undue reliance on these statements as they are based on current expectations, and actual results might differ materially.
Non-IFRS Measures
Invesque Inc. uses certain non-IFRS financial measures such as FFO (Funds From Operations) and AFFO (Adjusted Funds From Operations) to evaluate performance. These measures provide a more comprehensive understanding of financial condition beyond what is captured in traditional financial statements in accordance with IFRS. These non-IFRS measures may not be directly comparable to those used by other companies and should not be considered as a substitute for financial measures defined by IFRS.
