Mainstreet has sold the operations of four Rapid Recovery Centers in Texas to a former executive and his newly formed operations company. Mark Fritz — the former executive who helped create the “Rapid Recovery Center” model for the Carmel, Indiana-based senior care developer — is the one who purchased the facilities in Fort Worth, Round […]
Mainstreet
Invesque, the real estate investment company headed up by former Mainstreet executives, is continuing to rapidly expand. It has re-located to a new headquarters building in Carmel, Indiana and is planning to add 39 jobs by 2024, as it drives toward a total portfolio in excess of $2 billion. The firm is already on pace […]
Two new developments point to signs of financial distress at Mainstreet. First, a former Mainstreet executive is suing the Carmel, Indiana-based organization, alleging that it terminated him in November 2017—“in plain violation” of his employment contract and “without cause”. The move, the plaintiff claims, was made so that Mainstreet could save money, as it was facing […]
Mainstreet, one of the largest developers of post-acute properties in the United States, is having a rocky launch for its Rapid Recovery Center offering. One year ago, Mainstreet’s plan was to open 11 Rapid Recovery Centers over 18 months, in Arizona and Texas. Now, the Carmel, Indiana-based company has decided to pull out of the […]
Benchmark Senior Living Buys CCRC Near Boston A continuing care retirement community (CCRC) near Boston has a new owner. Benchmark Senior Living, which is based in Waltham, Massachusetts, acquired New Pond Village, a 199-unit senior living community in Walpole, Massachusetts. National real estate services firm Cushman & Wakefield negotiated the sale. New Pond Village is an 199-unit entrance-fee CCRC that […]
Leo Brown Group has become well-established as a senior housing developer since its founding in 2006, and now the company is branching out with a new push into post-acute care. The company has tapped two executives formerly with Carmel, Indiana-based Mainstreet, the nation’s largest transitional care developer, to lead the effort. Up to this point, […]
Construction: Planned Senior Community Planned in California Located in Morgan Hill, California, Steadfast Senior Living is planning a new community with 67 senior apartments for assisted living and memory care. The community will be 62,000 square feet and will have options of studio, one-bedroom and two-bedroom residences. The apartments will range between 400 and 1000 […]
Dr. Bill Thomas, a well-known senior care pioneer and the originator of the Green House senior living model, is joining the executive team at the nation’s largest independent living provider. He will also continue to do work for Carmel, Indiana-based Mainstreet Health, where he has been director of innovative health care for just over a year. Thomas […]
Happy Monday! Hopefully, you’ve already had your morning coffee and you’re ready to take on the day. Before you do, take some time to get caught up on the events of the past few days. In the senior housing world, last week was a week of change: After 45 years, Holiday Retirement is doing away […]
Changes are afoot at Mainstreet. Mainstreet Property Group, the nation’s largest developer of skilled nursing/transitional care properties, has seen significant churn in its top leadership over the past several months. At the same time, the skilled nursing sector as a whole has been struggling through stiff industry headwinds. However, these issues are not holding back Mainstreet […]
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