Mainstreet Equity Corp T.MEQ

Alternate Symbol(s): MEQYF

Mainstreet Equity Corp. is a Canada-based real estate company. The Company is focused on the acquisition, redevelopment, repositioning and management of mid-market rental apartment buildings in Western Canada. It owns and manages properties in six Canadian markets: British Columbia (including Vancouver Lower Mainland, Vancouver Island, Okanagan and Northern BC), Calgary (including the City of Airdrie, the City of Lethbridge, and the Town of Cochrane), Edmonton (including the City of Fort Saskatchewan), Saskatoon, Regina and Winnipeg. Its apartments are situated in various location such as Airdrie, Calgary, Cochrane, Edmonton, Abbotsford, Chilliwack, Courtenay, Kamloops, New Westminster, Penticton, Prince George, Surrey, Vernon, Winnipeg, Regina and Saskatoon. The Company provides incentives and rentals for Foreign Students attending school in Canada. It also provides student housing facilities, including MacEwan University, University of Alberta, NAIT and NorQuest College.

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Mainstreet Equity Corp

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Post by Betteryear2on Feb 06, 2024 7:02am

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Post# 35864735

Achieves 9th Consecutive Quarter of Double-digit Growth

February 06, 2024 06:58 AM Eastern Standard Time

CALGARY, Alberta--(BUSINESS WIRE)--In Q1 2024, Mainstreet posted its ninth consecutive quarter of double-digit, year-over-year growth across all key operating metrics. Funds from operations (“FFO”) before current income tax grew near the fastest rates in Mainstreet history at 32%, FFO increased 23%, net operating income (“NOI”) increased 23%, same-asset NOI rose 16% and rental revenues grew 19%.

Mainstreet Equity Corp Achieves 9th Consecutive Quarter of Double-digit Growth in Q1 | Business Wire

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