Carmel-Based REIT Adds to Canadian, U.S. Portfolio

Posted: Updated:
(Image courtesy of Invesque Inc.) (Image courtesy of Invesque Inc.)
CARMEL -

Carmel-based Invesque Inc. has announced a $142 million acquisition. The Real Estate Investment Trust, which used to be known as Mainstreet Health Investments, says the deal for Mohawk Medical Operating Partnership (I) LP involves 14 medical office buildings in the U.S. and Canada. Mohawk REIT is based in Toronto and Invesque, which is traded on the Toronto Stock Exchange under the symbol "IVQ.U," says Mohawk Realty Advisors Ltd. and its affiliates will remain manager for the properties.

Invesque Chief Investment Officer Adlai Chester calls Mohawk founder and principals Sean Nakamoto and Andrew Shapack "pioneers in the Canadian medical office space." Chester adds "we are pleased to establish this partnership, expand the initial portfolio through future acquisitions, and continue to create shareholder value. We believe the Mohawk team has the expertise to drive continued performance at the Properties as well as find and implement attractive opportunities going forward."

The agreement also includes the opportunity for Invesque to acquire similar buildings sourced by Mohawk. Mohawk's existing portfolio includes over 545,000 square feet in Ontario, New York and Florida. It is considered one of the largest medical office property portfolios in Canada.

When the acquisition is complete, Invesque's portfolio will rise to 103 properties. The deal still requires approval of Mohawk REIT shareholders and some regulatory approval. You can connect to more about the acquisition by clicking here.

  • Perspectives

    • Digital Personas: Getting to a Segment of One

      Creating a digital persona means using data, machine learning and networked devices so a business can tailor messages and experiences to specific kinds of buyers and users. It sounds like a marketing unicorn, but it’s closer than you might suspect, thanks to the potential of digital personas. The ultimate goal of a digital persona is to achieve the marketer’s dream: a segment of one.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • DePauw University ranked No. 20 on list of Best "Colleges"

      Small Indiana Colleges Rank High Nationally

      Indiana has two institutions of higher learning, with intentionally small enrollments, that rank in the top 30 in the nation for an overall experience.  The personal finance website, WalletHub, conducted a survey of what it calls the 2020 Best College Ranking. 

    • (photo courtesy of Indianapolis International Airport)

      Indy Airport Showcases New Retail Offerings

      Indianapolis International Airport is celebrating the opening of the first wave of new retail offerings. The new stores are part of the airport's multi-year Concessions Refresh initiative, which aims to bring a greater mix of nationally-known brands, such as FAO Schwarz and Vineyard Vines, with more local offerings, including Natalie's Candy Jar and Fountain Square Market. In all, nine new retail stores opened Tuesday morning. In an interview with Inside INdiana Business...

    • Transpo is South Bend's municipal bus system. (photo courtesy of Transpo)

      South Bend Launches Free Fare Program

      The city of South Bend has launched a new initiative to help a select number of residents who don’t have reliable and easy access to transportation get to work. The program is called Commuters Trust. 

    • Photo provided

      Stone City Products Invests $2 Million in Expansion

      Bedford-based manufacturer Stone City Products is expanding. The $2 million, 30,000-square-foot project could result in a weekend shift, adding jobs as product lines increase. 

    • The IU School of Informatics, Computing and Engineering will now be named for Fred Luddy for his $60M gift. (photo courtesy James Brosher/IU)

      $60M Gift to Fund AI Center

      An Indiana University alumnus who founded the information technology firm, ServiceNow, has given his alma mater $60 million to establish an artificial intelligence center. The university says the gift from cloud-computing pioneer Fred Luddy is the second largest in the history of the IU.