Mainstreet Property Group, a real estate investment company focusing on the acquisition and development of properties in the seniors housing and care industry, recently announced the ground-breaking of their latest project- a 77,000 square-foot facility located in the heart of Hamilton County in Indiana. The $13.4 million dollar Noblesville facility will house 108 units in a combination Skilled Nursing / Assisted Living facility, and 30 units in a separate Memory Care / Alzheimer’s facility with plans to add an additional 60 to 90 Independent Living units to phase II of the campus. Mainstreet will be managing and underwriting the development process, owns the real estate and serves as landlord and Meyer Najem Construction, Inc. of Fishers is serving as the general contractor.
“In order for a business to thrive in this economy, or any economy, the business plan needs to be straightforward and understandable,” said Zeke Turner, chairman and CEO of Mainstreet. “Ours is just that. Mainstreet buys and builds top-quality senior care properties and then leases them back to operators. Not only is there growth in the senior care industry overall, but we have excelled with our unique approach to development,” Turner added.
Recently named as one of Indiana’s fastest growing companies by the Indianapolis Business Journal, the turbulent economic climate has not affected Mainstreet’s growth like it has for other real estate development companies. Mainstreet serves clients throughout the mid-west and south and has grown its employee base from 4 to 145 employees since 2006.