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November 20, 2017 - HLP.U
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MainStreet Health Investments Inc. - Q1-2017 Earnings Update

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Mainstreet Health Investments Inc. owns income-producing seniors housing and care properties in the US and Canada. The properties offer predominately transitional care, long-term care, memory care assisted living and independent living programs. The portfolio is diversified across seven states, and four Senior housing properties in Ontario.

They own the land and buildings which are leased to operators on a long-term, triple-net lease basis. Under a triple-net lease structure, the tenant operators assume the operational risks and expenses associated with operating a seniors housing and care facility on the leased premises. The tenant operators provide and manage the service offerings available at the facilities, deliver all care services and maintain the buildings.

Mainstreet Health Investments Inc. was formed in Jun-2016 with an initial portfolio of 11 skilled nursing and assistedā€living facilities operated by Symphony Post Acute Network in Chicago. Since then an additional 24 properties have been acquired bringing total assets to $678M. As of Mar-31-2017, the portfolio consists of 31 properties in the United States comprised of 12 long-term care facilities, 11 memory care and assisted living facilities and 8 transitional care properties. They also have joint arrangement a with Autumnwood who owns the real estate of four seniors housing and care facilities located in Ontario.

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