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