Invesque to add 39 jobs as part of expansion, headquarters move
The real estate investment company, which specializes in health care and senior living, plans to spend about $1.5 million on the expansion.
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Mainstreet retools, says old strategy ‘broke down’
For more than a decade, Zeke Turner built scores of senior-care facilities. But in the past year, Mainstreet has been reeling from an unexpected slowdown in sales of its properties.
Former exec sues Mainstreet, says developer failed to pay him $630,989
Ned Rule, former managing director of investments, claims the Carmel-based developer terminated him without cause to save money during a financial downturn, violating his employment contract.
Mainstreet nixes ambitious Arizona plan, terminates at least 70 workers
The Carmel-based developer and operator of senior care facilities blamed high start-up costs and a challenging reimbursement environment for decision to pull out of Arizona.
Invesque picks up 14 medical office buildings in $142M deal
The deal includes a portfolio of 545,000 square feet of medical office space in New York, Florida and Canada, occupied by more than 400 physicians’ practices.
Mainstreet sells two senior care facilities for $44 million
The Carmel-based developer and operator sold the two properties to Invesque, a public company it created and shares an address with.
Mainstreet Health makes $425M acquisition, plans name change
Mainstreet Health Investments Inc., a company founded by Carmel-based Mainstreet Property Group, has reached a deal to acquire Care Investment Trust LLC, which owns 42 senior housing and care properties.
Mainstreet Property Group cuts 12 workers in reorganization
The Carmel-based developer of senior care facilities did not provide any details about the job cuts or what positions were affected.
Mainstreet accused of not paying nearly $2M in fees to adviser
A Chicago investment broker says the Carmel-based developer of transitional care properties is refusing to pay up for lining up a major investor in several projects.
Mainstreet Health to seek $95M in Canadian share offering
Mainstreet Health Investments Inc. is headquartered in Toronto but controlled by Carmel-based real estate developer Mainstreet Property Group.
Mainstreet Property Group cuts 7 percent of workforce
The company said the 10 dismissals were for performance and reallocation reasons and not due to any financial issues at the Carmel-based company, which still has aggressive expansion plans.
2015 TOP STORIES: Other big news from the year
2015 has ups and downs for area firms, local governments and their leaders, including American Senior Communities, High Alpha, the Pacers, Blue Indy and more.
Mainstreet engineers reverse takeover of public Canadian firm
Carmel-based Mainstreet has engineered a $302.5 million reverse takeover of a Canadian long-term care company that will once again give Mainstreet a publicly traded investment firm to help finance its development projects.
Anthem says industry flush with competition, but local experts have doubts
After Anthem CEO Joe Swedish argued that his $54 billion purchase of Cigna Corp. wouldn’t harm competition, execs at some of Indiana’s most prominent health care and health insurance institutions expressed skepticism last week during the IBJ Health Care Power Breakfast.
FAST 25: Mainstreet
When you have a health care business for which “there’s a tremendous need and virtually no product”—which Mainstreet founder and CEO Zeke Turner said is what his company has—growth potential would seem unlimited.
Pence financial adviser leaving for nursing home post
Indiana Office of Management and Budget Director Chris Atkins will leave June 26 to become senior vice president of Mainstreet, a Carmel-based nursing home development company.
Analysis: New nursing homes didn’t cause glut
An IBJ analysis of occupancy data from nursing homes built since 2012 and open at least one year found that newer facilities are filling their skilled-nursing beds at a lower rate than established nursing homes statewide.
Analysis: Nursing home moratorium would yield smaller-than-expected savings
The Legislative Services Agency predicts a three-year ban on new skilled nursing beds would save the state $2.2 million—not the $24.6 million reported by the state in December.
Company news
A three-year moratorium on construction of new nursing home beds sailed through the Indiana Senate 35-14 on Feb. 3. Senate Bill 460 now moves to the House, where it will be sponsored by Rep. Tim Brown, R-Crawfordsville, the powerful chairman of the Ways and Means Committee, and Rep. Charlie Brown, D-Gary. The moratorium moved easily […]
2015 Forty Under 40: Adlai Chester
Adlai Chester, 34, chief financial officer of Mainstreet, juggles finances for more than $1 billion in post-acute health care properties.