Mainstreet Property Group
Mainstreet Property Group, LLC is a subsidiary of Mainstreet Capital Partners, LLC, an Indiana limited liability company formed in 2002 as a real estate investment company focusing primarily on the acquisition and development of properties in the seniors housing and care industry. The Mainstreet Entities’ corporate offices are located at 109 West Jackson Street, Cicero, Indiana 46034, and the telephone number is 317-420-0205. Mainstreet employs a conservative, long-term approach to business with a professional management team having more than 50 years combined experience in operations, real estate, and finance.
We have investments in 15 properties throughout Indiana:
- Two continuing care retirement communities (“CCRC”)
- Five skilled nursing facilities
- Two assisted living facilities
- Two multi-family apartment complexes
- One senior apartment complex
- One independent living community
- Two commercial office properties
Mainstreet’s operating company, Mainstreet Asset Management, Inc., operates or manages six of our properties and has more than 100 employees.
Business strategy
Mainstreet’s business strategy is comprised of two primary objectives:
- to acquire properties that demonstrate strong cash flow potential, and
- to develop senior care properties that fill the needs of an underserved geographic market or industry niche.
As we continue to grow, we plan to diversify our real estate portfolio by operator, facility type and reimbursement source. We also intend to invest in, acquire and develop additional senior care and/or senior housing assets across a wide spectrum.
Acquisitions
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.
Developments
Mainstreet is also engaged in development activities, including planning and construction of facilities for lease to third parties. Mainstreet Property’s development projects fall into two primary categories: (A) senior care campus developments; and (B) assisted living facilities. Mainstreet Property has identified operators interested in each of these models and has reached agreements in principal with these operators for the construction of several facilities over the next few years. In our 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.
If you’d like to learn more about Mainstreet Property Group, we’d love to talk with you.