By Desiree Williams
Carmel-based Mainstreet Health Investments Inc. recently announced the acquisition of Care Investment Trust LLC and its intention to rebrand as Invesque Inc., effective Jan. 4 to help with the company’s recognition in the market.
Mainstreet owns income-producing real estate and partners with health care professionals who operate within the buildings to provide services to the elderly. The portfolio includes skilled nursing, assisted living, independent living, memory care and transitional care facilities.
The $425 million acquisition alters Mainstreet’s portfolio to include 82 properties in 18 states operated by 17 health care partners. Mainstreet’s asset value is expected to increase to $1.2 billion.
“It is a transformational event for us,” CEO Scott White said. “It changes the whole nature of our company. It changes our platform. It changes our name. It changes our position in the market. It really puts us on the map, on the radar so to speak, as a national, and to a certain degree, international firm with presence in both Canada and the U.S and an opportunity to really create something special and create some meaningful shareholder value.”
White said Care Investment Trust offered a high-quality portfolio that was complementary to Mainstreet’s but also initiated growth that the young company wants for the future.
“This gives us a much greater diversification, which helps us in terms of building the right portfolio,” he said. “Also in our space, having size will help us as we build out our platform. The bigger the platform, the easier it will be to access capital going forward to acquire future assets.”
Mainstreet’s plan to rebrand as Invesque awaits approval from company shareholders at a special Jan. 3 meeting. White said the name highlights the company’s investment core.
For more, visit invesque.com.
