Mainstreet Files Suit to Open Path for New Development

The nation’s largest developer of transitional care properties has hired a high-profile constitutional lawyer to sue the state of Indiana over its skilled nursing and transitional care moratorium.  Mainstreet Property Group, LLC has filed a lawsuit challenging the state of Indiana’s moratorium on new transitional care facilities, arguing that the moratorium violates both the Indiana and […]

Mainstreet’s 7-Property Senior Housing Pipeline Underway for 2014

Mainstreet project —Evergreen Place in Indianapolis at Georgetown & 56th Street Mainstreet Property Group has seven senior healthcare properties slated to open in 2014 with an estimated economic impact of $850 million. The developer specializes in hotel-like rehabilitation and therapy properties that have both short-term skilled nursing and assisted living components. Mainstreet communities include an in-house […]

Senior Housing Acquisitions: CNL Lifestyle Properties, Capital Senior Living, & More

CNL Lifestyle Properties Acquires Colo. Senior Housing Community Senior living real estate investment trust CNL Lifestyle Properties has acquired MorningStar at Dayton Place in Aurora, Colo., for approximately $29.9 million.  The senior housing community will continue to be managed by its current operator, MorningStar Senior Living, which currently has 21 properties under management or development […]

In the Pipeline: Senior Housing Construction Projects (11/14/13)

Construction: Planned Mainstreet Property Group Proposes New Indiana Senior Community Carmel, Indiana-based Mainstreet Property Group is moving forward in its proposal for a new senior living community in Crown Point, Ind., reports NWITimes. Mainstreet wants to develop a community that will house about 70 people on land recently approved for annexation by the city. The […]

Senior Housing Investments & Acquisitions (8/13/13)

American Realty Capital Buys 2 ALFs for $27.6 Million American Realty Capital Healthcare Trust recently acquired two assisted living communities from  Principal Senior Living Group for $27,550,000. The two-property assisted living and memory care portfolio consists of 147 beds in 123 units. Benton House, located in Covington, Ga., has 59 units with 72 beds and […]

In the Pipeline: Senior Housing Construction Projects (6/5/13)

Construction: Planned Mainstreet Property Group Plans 100-Bed “Health Care Resort” Mainstreet Property Group plans to build a new 100-bed “health care resort” on seven acres in Indianapolis, Indiana Business Journal reports. The $9.25 million community located at 5404 Georgetown Road, will encompass 65,000-square-feet and will also feature an Internet cafe, movie theaters and restaurant-style dining. […]

In the Pipeline: Senior Housing Construction Projects (5/15/13)

Construction: Planned Texas Developers Plan Fort Worth Senior Living Community Dallas-based HealthCap Partners LLC and Fort Worth-based Hillwood Properties plan to develop a senior living community in Alliance Town Center in Fort Worth, Dallas Business Journal reports. The initial phase of construction would consist of 60-units of the senior living community, 40 of which would […]

Mainstreet-Affiliated REIT Acquiring $142 Million Senior Housing Portfolio

Mainstreet Property Group announced today that the board of trustees of its affiliated REIT has approved the acquisition of 13 senior housing and care properties. HealthLease Properties Real Estate Investment Trust (TSX: HLP.UN) will acquire properties located in North Carolina, Pennsylvania and Virginia totaling 978 beds for an aggregate purchase price of $141.7 million.  The […]

In the Pipeline: Senior Housing Construction Projects (10/17/12)

Construction: Planned SRP Medical to Build Texas Senior Living Community SRP Medical, a senior care real estate investment and development company, and Frontier Management recently announced plans to build a 100,000-square-foot senior living community in the southwest area of Forth Worth, Tex. The community will have 105 residents providing assisted living and memory care services. “SRP […]

In the Pipeline: Senior Housing Construction Projects (9/26/12)

Construction: Planned Mainstreet to Develop $15.7 Million Senior Care Center in Indiana Cicero, Ind.-based developer Mainstreet Property Group LLC has plans to develop a $15.7 million senior healthcare center on the east side of Indianapolis after gaining approval from the city’s Metropolitan Development Commission to purchase the property for $912,500, reports the Indianapolis Business Journal. Mainstreet […]