Mainstreet Health Investments Inc. Announces Closing on Acquisition of Hearth on James Property
/NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Oct. 18, 2016 /CNW/ - Mainstreet Health Investments Inc. (TSX: HLP.U) (the "Company") today announced it closed on the previously announced acquisition of the Hearth on James, a 71 suite independent living and assisted living community located near Syracuse, NY. The Hearth on James will be operated by Hearth Management under a triple net lease with the Company.
The acquisition was previously announced in connection with the Company's US$95 million equity offering, which closed on June 2, 2016. For more information, please see the Company's prospectus dated May 26, 2016 available on SEDAR at www.sedar.com.
"We are pleased to finalize the acquisition of the Hearth on James property," said Adlai Chester, chief executive officer of the Company. "This property is nearly 100% occupied and helps diversify our portfolio both geographically and by product type."
About Mainstreet Health Investments
Mainstreet Health Investments Inc. is a North American health care real estate company with a portfolio of high quality properties located in the United States. Our properties are operated by best-in-class health care providers under long-term, triple net leases. Our mission is to create long-term shareholder value while providing an investment opportunity that matters. For more information, visit www.mainstreethealthinvestments.com.
SOURCE Mainstreet Health Investments Inc.
For further information: Investors: Mr. Randy Henry, Director - Investor Relations, 1-317-582-6971, firstname.lastname@example.org; Media: Ms. Ashley Mattox, Communications Manager, 1-317-582-6986, email@example.com