SOURCE: Mainstreet


June 02, 2016 09:39 ET

Mainstreet Affiliate Completes Canadian Public Offering

Mainstreet Health Investments Inc. Raises $95 Million

CARMEL, IN--(Marketwired - June 02, 2016) -   Mainstreet®, a national company known for real estate development, value investments and health care, announced today that its affiliated publicly traded Canadian real estate company, Mainstreet Health Investments Inc. (TSX VENTURE: HLP.U) (the "Company"), has completed its offer and sale of 9,500,000 common shares for $95 million in gross proceeds.

The majority of the net proceeds will be used by the Company to acquire the following 13 seniors housing and care properties (the "Properties"):

  • Seven properties (five assisted living and two skilled nursing) located in and around Scranton, PA. The properties are leased to a single operator under a triple net master lease;
  • Two Mainstreet developed transitional care properties located in Mooresville, IN and Chesterton, IN. Each property is leased to a third party operator under a triple net lease;
  • A transitional care property located in Topeka, KS, currently under development by Mainstreet. The property is leased to an operator under a triple net lease; and
  • Three properties (two independent/assisted living and one memory care) located in and around Syracuse, NY. The properties will be leased to a single operator under three separate triple net leases.

Any remaining net proceeds will be used to repay financing on one of the Company's existing properties, lend mezzanine financing, fund capital improvement projects, and working capital.

The company has filed a Canadian prospectus on SEDAR, an electronic database maintained on behalf of the Canadian provincial and territories securities regulators. Documents filed on SEDAR may be viewed at

"We are energized about this public offering and the ability to acquire high-quality health care properties in North America," said Scott White, president of the Company. "Our goal is to create long-term shareholder value while continuing to transform lives and transform health care. This acquisition is the first step in serving the health care consumer and will provide our shareholders with an investment opportunity that makes a difference."

About Mainstreet

Mainstreet is a national company specializing in real estate development, value investments and health care. As the nation's largest developer of transitional care properties, Mainstreet has been recognized by Senior Housing News, winning the Architecture & Design Award in 2013, 2014 and 2015, and has been named to the Inc. 500l5000 five times since 2010. For additional information, visit

About Mainstreet Health Investments Inc.

Mainstreet Health Investments Inc. acquires the highest-quality health care properties in North America with the intention to create long-term shareholder value. Partnering with best-in-class health care providers, these partnerships serve the health care consumer while providing an investment opportunity that matters. For more information, visit

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, those regarding the company's offering of common stock, including its anticipated use of proceeds therefrom, and other statements in this press release that are not historical facts which are subject to significant risks and uncertainties. The Company makes no commitment, and disclaims any duty, to update or revise any forward-looking statements to reflect future events or changes in these expectations.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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