Mainstreet Property Group Announces Closing of $11.0 Million Over-Allotment Option of HealthLease Properties REIT
CICERO, Ind., July 12, 2012 /PRNewswire/ -- Mainstreet Property Group, LLC, announced today that HealthLease Properties Real Estate Investment Trust (the "REIT") (TSX:HLP.UN) closed on its issuance of an additional 1,100,000 units ("Units") of the REIT at a price of $10.00 per unit for gross proceeds of $11,000,000. The issuance is pursuant to the exercise by the underwriters of their over-allotment option with respect to the REIT's initial public offering on the Toronto Stock Exchange completed on June 20, 2012. The issuance of additional units upon the exercise of the over-allotment option increases the total gross proceeds of the initial public offering to $121,000,000. The net proceeds from the over-allotment option will be used for general trust purposes.
Cicero, Indiana-based senior housing developer Mainstreet Property Group, LLC, led by chairman & CEO Zeke Turner, indirectly holds an interest in the REIT through the ownership of Class B limited partnership units of a subsidiary of the REIT.
These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America.
This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties, including those set forth in the REIT's final prospectus dated June 8, 2012 under the section "Risk Factors", a copy of which can be obtained at www.sedar.com. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.
About Mainstreet Property Group
Providing healthcare for a variety of short-term and long-term needs, Cicero, Indiana, based Mainstreet Property Group offers guests concierge-based health care in a hotel-like atmosphere. Mainstreet's Next Generation™ design includes multiple social destinations, restaurant-style dining, spacious private rooms and baths, and therapy/wellness. Mainstreet was named to the Inc. 500/5000 list of fastest-growing companies in both 2010 and 2011. It has been 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 additional information, visit www.mainstreetcap.net.
SOURCE Mainstreet Property Group, LLC
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