INDIANAPOLIS-Mainstreet, a developer and ownerof small- to mid-size seniors housing complexes, is working onagreements to build four sites in the fourth quarter, and another10 properties next year. The company added $100 million in newseniors housing this year.
Zeke Turner, chairman and CEO of the firm,tells GlobeSt.com that the company has closed or is closing on fourproperties in Springfield, IL; Wabash, IN; Mishawaka, IN andWestfield, IN. The properties will include a combination ofskilled-nursing, assisted-living care and Alzheimer’s care. Eachproject is about $15 million, and each one has about 100 to 125units, he says.
Turner says his plan is to open at least 10 properties in 2012,“and possibly more, but we have to be conservative with the wayfinancing is today.” His company owns 20 properties throughout theMidwest currently, and leases the sites out to operators.
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