Invesque Strengthens Development Platform Through Strategic Partnership with Ellipsis Real Estate Partners
TORONTO, ONTARIO, MAY 7, 2018 - Invesque Inc. (TSX: IVQ.U) (the “Company”) announced today they have entered into a development partnership with Ellipsis Real Estate Partners (“Ellipsis”) located in Carmel, Indiana. The partnership will provide Invesque exclusive access to Ellipsis’ pipeline of development projects, including five current development projects located in Indiana and Michigan. Under the terms of a Development Agreement, Ellipsis will provide Invesque the right of first offer to invest in all of Ellipsis’ developments, as well as to right to purchase the completed properties. The partnership will focus on the development of seniors housing and medical office properties throughout the United States.
The relationship is consistent with the Company’s strategy to facilitate growth of its portfolio through investments in projects by successful industry developers. As a long-term owner of high quality health care real estate, the partnership with Ellipsis will allow Invesque to expand its portfolio of newly developed, class-A facilities.
The Ellipsis management team brings decades of experience developing health care real estate assets, as well as strong relationships with seniors housing operators. The Ellipsis team has a combined track record totaling more than 100 development projects throughout their collective careers.
“We continue to see ample opportunities for development of seniors housing and health care real estate” stated Scott White, Chief Executive Officer of the Company, “Partnering with Ellipsis is a great way to grow and capitalize on our development platform. You should expect to see us continuing to focus on development opportunities.
Invesque Inc. is a North American health care real estate company with a growing portfolio of high quality properties located in the United States and Canada and operated by best-in-class operators primarily under long-term leases and joint ventures. Invesque's mission is to create long-term shareholder value while providing an investment opportunity that matters. For more information, visit www.invesque.com.
Ellipsis Partners is a healthcare real estate company specializing in developing best-in-class properties. Committed to partnership above all else, Ellipsis works diligently to create the type of care environments that allow the nation’s top medical providers to deliver care in properties that are practical and state of the art.
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This press release contains forward-looking information that reflects the current expectations of management about the future results and opportunities for the Company. Forward-looking statements generally can be identified by words such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, “project”, or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect the Company’s current beliefs and are based on information currently available to management. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.