Mainstreet Investment Co., an affiliate of Mainstreet, has returned to the Canadian market with a reverse takeover transaction with Kingsway Arms Retirement Residences, a publicly traded Canadian corporation. It also has changed its name to Mainstreet Health Investments.
The reverse takeover transaction, previously announced Nov. 6, was completed April 4. Mainstreet Health Investments now owns 10 senior care properties with a total of 2,305 beds in and around Chicago. The company also plans to acquire an eleventh property in the coming months as well as additional skilled nursing, assisted living, memory care and short-stay transitional care properties in the United States and Canada.
“We are excited to return to the Canadian public markets,” said Scott White, president of Mainstreet Health Investments. “What we’re doing now is building on our previous success in the Canadian capital markets while effecting industry change and leveraging existing relationships to help us grow this portfolio.”
