Mainstreet Property Group

by | Jan 11, 2017 | Companies

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.

Contact Information
Street: 109 West Jackson Street
City: Cicero
State: IN
Zip Code: 46034 Phone Number: 317-420-0205
Fax Number: 317-420-0206
Email: info@mainstreetcap.net

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, the pair closed the sale of a 38-unit/66-bed memory care community in Tulsa, Oklahoma. A private equity group... Read more
    Published on: March 02, 2018 By Steve Monroe
  • 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 Dallas, Texas area for $21.5 million, or about $188,600 per unit. All three communities total 114 units and... Read more
    Published on: February 14, 2018 By Steve Monroe
  • 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 upward in the coming weeks, but with just 69 announced acquisitions, Q4:17 was the least active quarter in... Read more
    Published on: January 05, 2018 By Steve Monroe
  • 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 portfolio, and 108th property overall. The facility was built in 1976 and features 60 beds. There is also... Read more
    Published on: June 14, 2017 By Steve Monroe
  • 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 the transactions. It first refinanced its 132-bed healthcare campus in Noblesville, Indiana with a $9.6 million loan. The... Read more
    Published on: May 31, 2017 By Steve Monroe

Zeke Turner

by | Jan 10, 2017 | Experts

zturnerFounder & CEO, Mainstreet Property Group

Paul Ezekiel “Zeke” Turner, 35, is the Founder and CEO of Cicero, Ind.-based Mainstreet, one of the nation’s most innovative health care developers, and the Chairman and CEO of HealthLease Properties REIT, a Toronto-based Real Estate Investment Trust.

Mr. Turner founded Mainstreet in 2002, when he was just 25 years old. Named to Inc. Magazine’s list of the 500/5000 Fastest Growing Companies in America for the past three years, Mainstreet developments are Healthcare Resorts™, offering guests concierge-based health care in a hotel-like atmosphere. Mr. Turner and his team took HealthLease Properties REIT public with a $121 million offering on the Toronto Stock Exchange on June 20, 2012. Mainstreet holds an indirect interest in the REIT and is currently its largest shareholder.

Mainstreet’s Next Generation™ designs include multiple social destinations, restaurant-style dining, spacious private rooms and baths, and oversized therapy/wellness areas. In addition to an active acquisition strategy, Mainstreet and HealthLease currently have a development pipeline for 2013 of more than 20 properties, representing over $500 million in new product development.

Prior to establishing Mainstreet, Mr. Turner worked on Wall Street with Citigroup Corporate and Investment Banking (formerly Salomon Smith Barney). With Citigroup, Mr. Turner worked in both the Latin America and Health Care groups in New York and in Mergers/Acquisitions in São Paulo, Brazil.

Mr. Turner has served on the Board of Directors for the Indiana Health Care Association (IHCA) and currently serves on the Board of Directors for the Indiana Family Institute, an organization dedicated to promoting strong families in Indiana. He is a member of Cicero Christian Church, the American Health Care Association (AHCA), the National Investment Center for the Seniors Housing and Care Industry (NIC) and the Urban Land Institute (ULI).

Mr. Turner graduated cum laude from Taylor University in Upland, Ind., earning a B.A. a degree in International Business and a B.S. degree in Business Administration/Systems, with additional concentrations in finance and economics and business administration/systems. He also played on Taylor’s basketball and football teams. More recently, he completed courses at the Erickson School of Aging Studies at the University of Maryland, Baltimore County, studying finance/underwriting and real estate development.

Mr. Turner was born in Marion, Ind., in 1977. He and his wife, Milissa, have five children and live in Cicero, Ind. When time allows, Mr. Turner enjoys traveling with his family both domestically and internationally. To date, he has visited 38 different countries around the world.