Wall Street Not Affecting Mainstreet Property Group; Group Breaks Ground on Another Senior Care Campus in Laf... ( Commercial c...)

Wall Street Not Affecting Mainstreet Property Group; Group Breaks Ground on Another Senior Care Campus in Lafayette, IN

Date:6/3/2009

Commercial construction and development are not a problem at Mainstreet Property Group, despite the turbulent economic conditions affecting other real estate development companies. Trilogy Health Systems is one of the latest recipients of such development services at an estimated $16.6 million in value.

Cicero, Ind. (PRWEB) June 3, 2009 -- Commercial construction and development are not a problem at Mainstreet Property Group, despite the turbulent economic conditions affecting other real estate development companies. Trilogy Health Systems is one of the latest recipients of such development services at an estimated $16.6 million in value.

Mainstreet Property Group is a real estate investment company focusing on the acquisition and development of properties in the senior housing and care industry, including continuing care retirement communities (CCRCs), independent living, assisted living, skilled nursing and senior apartment buildings.

Mainstreet Property Group and Trilogy Health Services have signed a strategic agreement to develop senior care campuses in key markets throughout Indiana, Michigan and Ohio. Under this agreement, Mainstreet will underwrite and develop six to eight properties per year for Trilogy through the year 2012. Mainstreet has already funded and developed several like properties in Indiana.

"A tougher economic climate means commercial loans are not as readily available as they were just a few years ago," said V. Edward Grogg, president of Mainstreet Property Group. "Tougher times drive tougher loan scrutiny- that is where Mainstreet excels. Repeatedly we hear from our lenders tha
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