10:09 AM EST - Mainstreet Equity Corp. : Came out today with second-quarter results for fiscal 2020. $75.8 million in additional funds raised through the financing of five matured mortgages and 18 clear-title properties at an average interest rate of 2.32%. Latest 10-year, CMHC-insured mortgages locked in at 1.66%, a record low for Mainstreet. Operations: 11% revenue growth (3% on same-asset basis); 10% increase in FFO; and 8% growth in net operating income ("NOI") (1% on same-asset basis), despite a high number of unstabilized acquisitions that would typically drive down operating results. Acquisitions: $40.6 million (279 units) in new acquisitions in Q2 2020 (subsequent: 61 units in Calgary and Edmonton for total consideration of $5.4 million). Liquidity: $170 million liquidity position to fund future growth. Mainstreet Equity Corp.
shares T.MEQ are trading up $0.26 at $69.26.
