Invesque (TSX: IVQ.U and IVQ) is seeking to sell or lease “all or substantially all” of its assets, and it is asking shareholders for approval to do so ahead of a June 18 special meeting.

The Fishers, Indiana-based healthcare real estate investment trust (REIT) with 45 senior living properties in the U.S., is asking shareholders to consider a resolution to potentially sell or lease all of its assets.

The company is asking its shareholders to consider a resolution to reduce $183 million in common share capital, meant to be returned through cash distribution to shareholders, though it is noted it is “highly unlikely” total distributions would be the total amount, according to a press release.

Invesque CEO Adlai Chester told Senior Housing News the corporation is looking to “maximize value to shareholders through the disposition of assets.”

“We are not on a specific timeframe to do so but wanted to get shareholder approval now to allow us to work towards disposing of assets and returning value to our shareholders,” Chester said in an email statement.

The transactions could include asset sales or leases, the sale of equity of one or more subsidiaries, merger or business combinations, according to a press release.

Invesque recently sold a total of 11 senior living assets consisting of one senior housing property and 10 memory care assets in April, according to the REIT’s first quarter management discussion and analysis filed in May. The company also sold its stake in senior living operator Commonwealth Senior Living last year.

The move in calling for the special meeting on June 18 is not required, but Chester said it will allow the company to “have the flexibility to transact in the future,” and receiving approval will make the process easier.

“Although we are seeking approval that would facilitate this strategy, we will continue to look at other ways to create value for the shareholders,” Chester said.