Invesque shareholders will be asked at a special meeting June 18 to approve the sale or lease of “all or substantially all of the assets” of the company, the Fishers, IN-based healthcare real estate company said Tuesday.

The request follows the company’s moves to shed its skilled nursing facilities and medical office buildings as well as its portfolio of Commonwealth Senior Living communities and management company.

Inveque said it has not entered into any definitive agreements to sell or lease assets. Other potential transactions could include the sale of equity of one or more subsidiaries, mergers, business combinations or other similar transactions “in one or more transactions,, according to the company.

The announcement comes less than a week after Invesque issued a business update on May 15, in which Chief Financial Officer Quinn Haselhorst said that for the rest of the year, the company planned to focus on “the execution of several sale transactions as we look to optimize and return value to shareholders.” 

In recent transactions, on April 9, Invesque closed on the $25.1 million sale of a senior living community in Syracuse, NY. The firm used sale proceeds to pay off the property level mortgage debt associated with the community and retained the remaining cash proceeds to maintain appropriate liquidity levels.

The company said May 15 that it expects to close on the previously announced sale of 22 properties for $319.8 million within the next 60 days. The deals reportedly will occur in three transactions.

Additionally, the company announced that it has entered into an agreement to sell 10 memory care communities that are managed under a triple-net lease agreement. The sale is expected to close during the third quarter.

Shareholders also will be asked June 18 vote on a resolution to reduce capital by up to $183 million to facilitate potential cash distributions following asset divestitures. 

“Returns of capital could allow the corporation to return on a tax efficient basis to shareholders any remaining proceeds of asset divestitures following the repayment of indebtedness,” Invesque said. 

If the resolution is passed, the board would have the authority to make special distributions and reduce capital by up to $183 million, although neither may happen, the company said.

As of May 15, Invesque’s footprint included 28 communities, not including assets held for sale. The company had $631.2 in total assets and a debt balance of $389.1 million.