/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
CALGARY, Nov. 13, 2013 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the "Corporation") (TSX:MEQ) announced today that Vision Capital Corporation ("Vision"), an investment fund manager and portfolio manager on behalf of its funds under management, has increased its investment in the Corporation by acquiring additional common shares of the Corporation (the "Common Shares"), resulting in its total investment in, and control over, 1,046,542 Common Shares representing approximately 10% of the issued and outstanding common shares.
Vision has acquired these Common Shares in the ordinary course of business, for investment purposes only and not for purpose of exercising control or direction over the Corporation.
Vision is a Toronto-based investment fund manager and portfolio manager managing the Vision Opportunity Funds that focus on publicly-traded real estate securities. The Vision Opportunity Funds have been recognized by Morningstar, S&P/Capital IQ and at the Canadian Hedge Fund of the Year Awards as one of the top five funds in Canada each year since Vision's inception in 2008.
Mainstreet is a Calgary-based, growth-oriented real estate corporation focused on the acquisition, redevelopment, repositioning, and asset and property management of mid-market apartment buildings. The Corporation currently owns and operates residential rental units, including apartments and townhouses, in the B.C. Lower Mainland, Calgary, Edmonton and Saskatoon.
Mainstreet's Common Shares are listed on the Toronto Stock Exchange under the symbol "MEQ". There are currently 10,465,281 Common Shares outstanding.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.
SOURCE Mainstreet Equity Corporation