LCG Announces Successful Completion of Two Debt Financings totaling in $22 million for Mainstreet Property Group

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FOR IMMEDIATE RELEASE

LCG Advisors and Mainstreet Partner to Successfully Complete Two Debt Financings Totaling $22 Million 

Tampa, FL (December 13, 2012)  The Tampa office of LCG is pleased to announce the recent completion of two debt financings totaling $22.1 million for Mainstreet Property Group, LLC (“Mainstreet”), one of the fastest-growing healthcare real-estate investment companies in the country, for two of its new healthcare development projects.  The capital will be used for new construction at the Avon and Crawfordsville communities in Indiana, which are part of Mainstreet’s previously announced joint venture with Des Moines based LCS, a leading provider of high-quality senior lifestyle products and services.  LCG was retained as exclusive financial advisor for Mainstreet’s debt financing needs related to its real estate portfolio and the construction financing associated with its aggressive growth plans.  This is the fourth successful closing between the two firms.

Mainstreet’s Health Care Resorts™ offer guests concierge-based health care for short and long-term needs in a hotel-like atmosphere. Their NextGeneration™ designs include multiple social destinations, internet cafes, restaurant-style dining, spacious private rooms and baths and therapy/wellness.  Mainstreet, based in Cicero, IN, currently owns properties in Indiana and Illinois and has expansion plans to other states for 2013.

LCG’s Managing Partner, Brian Smith, stated, “The strong partnership between LCG and Mainstreet has continued to thrive over the past two years.  We are proud to work with such a well-run company and support their business plans and growth initiatives by advising them on accessing the capital markets and assisting them in raising capital, even in difficult financing markets.  We look forward to continuing to build on our relationship with Mainstreet and assisting with the financing of additional projects in the future.”

Adlai Chester, Mainstreet’s CFO, stated, “Mainstreet has grown to be one of the nation’s largest skilled nursing developers by focusing on concierge-based health care properties for a variety of short-term and long-term needs.  An important part of that growth has been properly financing development, and LCG has been a valuable partner as we have grown.”

About LCG Capital Advisors, LLC

With headquarters in Tampa, LCG provides a broad range of advisory services for its clients including independent due diligence and transaction support services to the financial services industry, and transaction advisory services related to debt placement and refinancing, capital restructuring, corporate mergers, acquisitions and divestitures, recapitalizations, institutional equity placements and certain other advisory and investment banking services. For more, please call (813) 226-2800 or visit www.lcgadvisors.com.

About Mainstreet™

Indiana-based Mainstreet Property Group is the nation’s largest skilled nursing developer, known for acquiring and developing desirable, concierge-based health care properties with a hotel-like atmosphere for a variety of short-term and long-term needs. The company’s innovative and industry-leading Next Generation™ design meets the demands of the Baby Boomer, including communities with multiple social destinations, restaurant-style dining, spacious private rooms and baths, and therapy/wellness. Mainstreet was named to the Inc. 500/5000 list of fastest-growing companies in 2010, 2011 and 2012.  For additional information, visit www.mainstreetcap.net.

 

Contact:              Brian Smith

Managing Partner

LCG Capital Advisors, LLC

813-226-2800