Daily News: July 12, 2019

People’s United Leads $80MM Facility for Invesque

The Healthcare Finance and Capital Markets Divisions of People’s United Bank served as lead arranger and administrative agent for an $80 million senior secured credit facility to Invesque.

The facility will be used to refinance existing debt associated with the four senior living facilities in Eastern Pennsylvania and Southern New Jersey. The properties are owned via a joint venture agreement between Invesque and Heritage Senior Living, a developer and property manager for senior housing communities in the Mid-Atlantic.

“We are excited to expand our partnership with Invesque and Heritage to provide flexible solutions and strategic guidance in support of their current and future growth objectives,” said Matthew Huber, market manager, Healthcare Finance at People’s United Bank.

Based in Toronto, Invesque invests in healthcare properties including senior-living, skilled-nursing and medical office buildings, located in the U.S. and Canada through long-term absolute net leases, joint ventures, and development capital.