Invesque CFO and Executive Vice President of Investments Adlai Chester will become CEO of Invesque after Scott White steps down from that role May 10.
White, who became CEO of the publicly traded investment company in January 2017 and board chairman in March 2019, will remain board chairman and also will serve the company as an adviser.
Chester has been with Invesque since 2017. He has more than 20 years of finance, real estate, investment, development and capital markets experience, according to the company. He currently is a director on the company’s board.
Senior Vice President of Finance Quinn Haselhorst will succeed Chester as CFO, Invesque reported. A certified public accountant, Haselhorst has been part of the Invesque team since its formation in 2015 and has 15 years of accounting and finance experience, the majority of which has been spent in the healthcare real estate industry, the company said.
The news comes one month after a company owned by Chester boosted the CFO’s financial interest in Invesque by acquiring 16.98 million shares of stock common from insurance holding company Tiptree for $625,000. The transaction was completed April 30.
Chester owned or controlled 212,907 common shares of Invesque as of March 29, according to the company. After the Tiptree acquisition, Chester’s IVQ Stock Holding Company and Chester himself collectively own approximately 17.1 million common shares, representing approximately 30.59% of the outstanding common shares of the company.
Before joining Invesque, Chester helped guide the launch and IPO of HealthLease Properties. As its CFO, he grew HealthLease Properties from a $250 million company to nearly $1 billion. In 2014, he orchestrated a multi-billion dollar sale and development capital deal with Welltower.
Over the past few years, Invesque has been pruning its portfolio of skilled nursing properties and now has a portfolio consisting primarily of private-pay senior living communities. Management services are provided through Commonwealth Senior Living, which Invesque acquired in 2019.
