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Mainstreet Equity Corp. Reports Five Straight Years of Double-Digit Growth in Key Metrics
Mainstreet Equity Corp. Reports Five Straight Years of Double-Digit Growth in Key Metrics ...
About this update from Mainstreet Equity Corp.
[{"type":"text","content":"\n\n\n\nMainstreet Equity Corp. Reports Five Straight Years of Double-Digit Growth in Key Metrics\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\n\n\n\n\n\nMainstreet Equity Corp. Reports Five Straight Years of Double-Digit Growth in Key Metrics\nCanada NewsWire\nCALGARY, Dec. 9, 2015\n\n\n\n\n\n\nCALGARY, Dec. 9, 2015 /CNW/ - Mainstreet Equity Corp. (\"Mainstreet\" or \"The Corporation\") is pleased to report its year-end figures which show a landmark achievement of five consecutive years of annual double-digit growth in funds from operations (\"FFO\") and net operating income (\"NOI\"). In fiscal year 2015, pre-tax FFO from continuing operations was up 24%. NOI from continuing operations increased 12%. Furthermore, Mainstreet's revenue from continuing operations exceeded $100 million in 2015, another milestone achievement of the Corporation.\n\nBob Dhillon, Founding CEO of Mainstreet, says, \"I'm proud and excited that we have generated double digit growth for Mainstreet shareholders for five straight years. This is a major milestone for our company and for me personally. Mainstreet has established a disciplined business model as a mid-market, value-added consolidator of apartments in western Canada. From the earliest days, I have been committed to making Mainstreet an outstanding builder of apartment portfolios. Half a decade of continuous high-level performance, with each year better than the one before, is a testament to our remarkable success in doing this.\"\n\nMr. Dhillon says that The Corporation's guiding principle is to create value for investors through several key advantages. Average apartment rental prices are about $1,000 per month, in the middle of the market, which means Mainstreet is less buffeted by economic unease than the top end of the market. The portfolio is diverse with more than 31% of units in locations not heavily dependent on the energy sector. Low interest rates provide access to low-cost capital for future acquisitions. Undervalued shares create a sound opportunity for Mainstreet to re-purchase its undervalued shares, which we believe cons...