Transaction Significantly Improves Diversification: The Transaction further diversifies the Company's operator relationships and geographic footprint.
#Inspirit senior living pro
The Company's pro forma asset value is expected to increase to US$1.2 billion. Enhanced Scale and Investment Platform: The Transaction increases the scale and scope of Mainstreet's investment platform to comprise 80 properties with 8,536 suites/beds across the United States and Canada, a 2.6x increase compared to Mainstreet's initial public offering in June 2016.The Portfolio consists of 24 properties leased to operators under long-term triple-net leases and 18 operating properties in joint venture arrangements with seniors housing operators in which Mainstreet will own the majority of the real estate and the operations. The Portfolio is expected to add eight new states to Mainstreet's existing platform and strengthens its presence in three states in which it currently owns properties. Attractive and Strategic Portfolio Acquisition: The Portfolio is comprised of 35 high quality independent living, assisted living and memory care properties and seven skilled nursing facilities located in growing markets across 11 states.Furthermore, Mainstreet intends to change its operating name to Invesque Inc., which will provide the Company with a unique and recognizable name. CareIT owns a portfolio of 42 seniors housing and care properties comprising 3,718 suites/beds in attractive markets across the United States (the " Portfolio"). (NASDAQ: TIPT) (" Tiptree") and certain subsidiaries, to acquire Care Investment Trust LLC (" CareIT") (the " Transaction") for an aggregate purchase price of approximately US$425 million (the " Consideration"). 17, 2017 /CNW/ - Mainstreet Health Investments (TSX: HLP-U) (" Mainstreet" or the " Company") today announced that it has entered into definitive agreements with Tiptree Inc.
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