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Mainstreet Equity Corp. Releases its Q2 2017 Results
Mainstreet Equity Corp. Releases its Q2 2017 Results Canada NewsWire CALGARY, Ma...
About this update from Mainstreet Equity Corp.
[{"type":"text","content":"\n\n\n\nMainstreet Equity Corp. Releases its Q2 2017 Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 9, 2017\n\n\n\nCALGARY, May 9, 2017 /CNW/ - Mainstreet Equity Corp. (\"Mainstreet\" or the \"Corporation), an add-value, mid-market consolidator of apartments in Western Canada, is announcing its operating and financial results for the three months ended March 31, 2017.\n\nBob Dhillon, Founder and Chief Executive Officer of Mainstreet, said, \"Over the last two financial quarters, we have begun to see signs of economic stabilization in our core markets.\" Dhillon said, \"Amid this improving macro-economic picture, we believe we are now poised for accelerated growth through our 100% organic, non-dilutive growth model.\"\n\nIn Q1 2017, after posting the first increase in same-asset revenues since Q2 2015, Mainstreet management suggested that we might be witnessing the tail end of a prolonged downward curve in revenues and the results of Q2 2017 appear to reinforce that belief. Amid this improving outlook, we now believe there is opportunity to pursue a targeted growth strategy through opportunistic future acquisitions. \n\nWhile the Corporation is seeing leveling results in the Alberta and Saskatchewan markets, Vancouver / Lower Mainland remains robust (BC comprises 27% of our portfolio). The region continues to outperform the balance of Western Canada, maintaining a vacancy rate below 2% and net operating income (\"NOI\") growth of 5% year to date. Mainstreet believes there will be substantial potential for furth...