Apartment Look

Mainstreet Equity (OTC:OTC:MEQYF) is an under-the-radar residential apartment owner/operator in Western Canada . Despite a market cap of $325m (all figures Canadian ), it often sees volume of less than 1000 shares a day on the TSX where it trades under the MEQ ticker. The recent investor presentation (July 2017) gives a brief snapshot of the properties Mainstreet controls . It's important to note that Mainstreet is well away from the frothier markets in Canadian real estate , both geographically and in terms of price point. The average apartment it owns is valued at just marginally more than $100k with an average monthly rent of just $864. These are solidly middle class , leaning lower middle class , properties. The company is focused on rolling up what they view as smaller, underperforming buildings, often ones that have fallen into significant disrepair, are being managed by inexperienced and/or unprofessional owners, and giving them a makeover, with some recent examples fr...

The advertisements are everywhere. On television, a sleek black sedan pulls up to a sprawling estate with a rolling green lawn as a mother recounts how Recovery Centers of America saved her child from drugs. On Facebook, radio, highway billboards, and commuter trains, people are urged to call the company’s instantly memorable hot line : 1-800-RECOVERY. The marketing blitz and an infusion of private equity money have helped make Recovery Centers of America into the self-described fastest- growing addiction treatment provider in the country. Launched less than three years ago by a high- end real estate developer , it’s part of a rush of entrepreneurs who see opportunity in the treatment business as the opioid crisis sweeps the country. Advertisement But an investigation by STAT and The Boston Globe has uncovered evidence of shoddy care and turmoil inside the walls of the company’s two Massachusetts treatment centers . This report is based on interviews with more than a dozen fo...