Mainstreet Equity Corp achieved double digit growth across all key operating metrics including same store results
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Mainstreet Equity Corp achieved double digit growth across all key operating metrics including same store results
CALGARY, June 1, 2023 - Mainstreet Equity Corp. (“Mainstreet” or the “Corporation”) (TSX:MEQ) announced on May 31, 2023 that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to make a normal course issuer bid to purchase outstanding common shares of the Corporation (“Shares”) on the open market in accordance with the rules of the TSX.
Double-digit, year-over-year growth across all key operating metrics for the sixth consecutive quarter; counter-cyclical business model continues to prove itself
The entirety of Mainstreet's portfolio is Western Canada based. With large holdings in the major centres of Edmonton and Calgary, AB; Surrey and Abbotsford, BC; and, Saskatoon and Regina, SK.
Mainstreet has significant market share in a number of its operating cities: 28% Surrey, BC; 21% Abbotsford, BC; and, 15% Saskatoon, SK.
Calgary and Edmonton portfolios are represented by significant inner-city holdings. Including Central and ICE District in Edmonton, and Beltline communities in Calgary. These properties are particularly attractive to Millennials, and students attending secondary education institutions. Smaller cities such as Saskatoon and Regina, SK; Lethbridge, AB; Kamloops, BC and Abbotsford, BC, also have large student populations.
Mainstreet is constantly active in new property assessment and acquisitions in all of it operating cities, and monitors and evaluates the upside to enter into new markets under the right conditions.
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