Mainstreet Adds $100 Million in Healthcare Assets in 2011, Continues to Expand Across Midwest

INDIANAPOLIS, Nov. 15, 2011 /PRNewswire/ -- Mainstreet, one of the fastest-growing healthcare real estate investment companies in the country, added $100 million in new development assets in 2011, further showing a demand in the market despite the sluggish economy. The company, which is currently focusing on building next-generation healthcare campuses across the Midwest, is already set to surpass that volume in 2012.

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"Mainstreet has identified a real need in the market for innovative healthcare campuses that provide quality care and concierge service in a building that is both aesthetically pleasing and that has a real community feel," said Zeke Turner, Chairman and CEO of Mainstreet. "Healthcare needs are changing and our business model is built to meet the needs of this generation."

Mainstreet has closed, or is closing on, a total of four properties in the fourth quarter of 2011, including properties in Springfield, Ill., and Wabash, Mishawaka and Westfield, Ind. Other 2011 closings included properties in Valparaiso and Marion, Ind. Campuses will include a combination of skilled-nursing, assisted-living care and Alzheimer's care. Each of these developments will create over 300 construction jobs and over 150 permanent positions. The job creation associated with these six projects is over 2,000 jobs.

Providing healthcare for a variety of short-term and long-term needs, Mainstreet offers guests need-based healthcare in an atmosphere that feels more like a hotel than a hospital. Mainstreet's innovative designs include multiple social destinations, business centers, Wi-Fi access, restaurant dining, private rooms, private baths and therapy/wellness centers.

To provide innovative solutions that empower people of all ages to lead meaningful lives in a dignified setting with exceptional care, Mainstreet is currently expanding into states across the Midwest with its next-generation healthcare model.

For 2012, Mainstreet has already identified 10 additional development projects in locations across Indiana, Illinois, Ohio and other Midwestern states.

"One distinctive characteristic of our properties is that they bring a sense of dignity and pride to guests and residents. We hope to fundamentally change the healthcare industry and implement a higher standard of care and community," said Ed Grogg, President of Mainstreet.

With the tagline, "Investing more than capital," Mainstreet operates within a social filter that provides an important dimension to its decision-making process. The goal is to invest in properties that serve to enhance lives and improve communities. In this, Mainstreet acts not only as an investor and developer, but also as a true partner in the industry that is prepared to advance the common good.

Mainstreet was named to the Inc. 500/5000 list in both 2010 and 2011. It was listed as the third-fastest growing private company in the area by the Indianapolis Business Journal and one of 41 "Companies to Watch" in the state by the Indiana Economic Development Corporation, Purdue University and the Edward Lowe Foundation. For more information visit: http://www.mainstreetcap.net.

Note to Editors: For more information about Mainstreet, please contact Julie Shutley at 972-267-1111 or e-mail [email protected].  

SOURCE Mainstreet