Mainstreet Poperty Group was formed in 2002 as a real estate investment company focusing primarily on the acquisition and development of properties in the senior care and/or senior housing industry. Mainstreet employs a conservative, long-term approach to business with a professional management team that has more than 50 years combined experience in operations, real estate and finance.
Mainstreet has investments in 12 properties throughout Indiana: five skilled nursing facilities; two assisted living facilities; two multi-family apartment complexes; one senior apartment complex; one independent living community; and one commercial office property. Mainstreet properties have a value of more than $40 million, along with more than $50 million in their development pipeline. Mainstreet’s operating company, Mainstreet Asset Management, Inc. operates or manages six of their properties and has more than 250 employees.
Mainstreet’s primary investment strategy is to acquire an ownership interest in facilities and lease them to senior care operating companies under triple-net master leases that transfer the obligation for all facility operating costs (including, for example, insurance, property taxes, utilities, maintenance and capital improvement expenses) to the operators of the facility. These leases have fixed initial rent amounts with annual escalators.
Mainstreet is also engaged in development activities, including planning and construction of facilities for lease to third parties. For these activities, Mainstreet receives development fees in addition to its continued ownership interest in the property. In their current developments, Mainstreet uses either third-party general contractors or its wholly-owned construction subsidiary, Mainstreet Structures, LLC, depending on the size and scope of the project.
Street: 109 West Jackson Street
Zip Code: 46034 Phone Number: 317-420-0205
Fax Number: 317-420-0206
Mainstreet Property Group in the News
Greystone Real Estate Advisors Gets It Done
Mike Garbers and Cody Tremper of Greystone Real Estate Advisors just announced a slew of transactions that closed at the end of 2017, advising the seller in each deal. First,... Read more
Invesque Invests In Dallas-Area Memory Care Communities
Invesque Inc. (formerly Mainstreet Health Investments) followed up on the completion of its acquisition of Care Investment Trust earlier this month by closing on three memory care communities in the... Read more
Slowest Q4 For Senior Care M&A Since 2014
Despite a strong December, when we recorded 30 long-term care transactions, the fourth quarter of 2017 was slow by all recent standards. These are preliminary numbers and may be revised... Read more
Trilogy Health Services Makes It 11 In Michigan
Trilogy Health Services, better known on the development side of the skilled nursing sector, recently bought a facility in Grand Rapids, Michigan, making it the 11th facility in Trilogy’s Michigan... Read more
Bank It, With KeyBank
John Randolph and Laura Conway of KeyBank Real Estate Capital’s Healthcare Group closed a couple of transactions, both involving HUD refinances. Trilogy Health Services was the borrower in both of... Read more