Mainstreet Equity Corp.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Navjeet Singh Dhillon
- Full Time Employees
- 597
- Sector
- Real Estate
- Industry
- Real Estate - Services
- Address
- 305 – 10 Avenue SE Calgary AB Canada T2G 0W2
- IPO Date
- Feb 12, 2007
- Website
- mainst.biz
- Similar Companies
- Business
- Mainstreet Equity Corp. (TSX: MEQ) operates as a residential real estate investment company focused on the acquisition, redevelopment, repositioning, and management of mid-market multi-family rental apartment buildings in Western Canada. The company offers rental housing services including suite renovations to "Mainstreet Spec" standards featuring hardwood laminate flooring, ceramic tile, new bathroom fixtures, electrical upgrades, fresh paint, new countertops, energy-efficient appliances, vinyl siding, new windows, and landscaped common areas; professional property management with clustered operations for cost efficiency, 24-hour emergency maintenance, on-site managers overseeing 150-200 units per cluster, and advanced tenant information systems; and repositioned market-rate leasing targeting credit-worthy tenants. Mainstreet Equity generates revenue primarily from rental income and related sources, serving individual renters in the affordable housing segment with holdings exceeding 18,000 apartments across British Columbia, Alberta (primary revenue source), Saskatchewan, and Manitoba (Winnipeg); it was founded in 1997 and maintains headquarters at 305 10 Avenue SE in Calgary, Alberta. In fiscal 2024, the company achieved double-digit year-over-year growth in revenue (up 18.93% to CAD 249.8 million), net earnings (up 82.68% to CAD 199.88 million), funds from operations, net operating income, and rental revenues, marking its 13th consecutive quarter of such performance into Q1 2025; it sustains a countercyclical organic growth model backed by approximately CAD 413 million in liquidity for acquisitions, declared a quarterly dividend of CAD 0.0275 per share for the period ending September 30, 2024, and maintains a portfolio valued over CAD 3 billion with ongoing non-dilutive refinancing via CMHC-insured mortgages to recycle capital into new underperforming assets.
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