Mainstreet Forms Broker-Dealer, Closes $75M Fund

CARMEL, Ind. — Skilled nursing facility developer Mainstreet has formed a new broker-dealer named Mainstreet Capital Partners LLC. The company is registered with the Financial Industry Regulatory Authority (FINRA) and was created to institutionalize Mainstreet’s fundraising business.

As part of the broker-dealer launch, Mainstreet has hired Brian O’Grady as the managing director – global head of fundraising. O’Grady previously worked at Brookfield Asset Management as a senior vice president and a private equity specialist in the private funds group, as well as the Park Hill Group at Blackstone as a principal.

As an initial step toward building a capital markets platform, Mainstreet also announced the closing of Mainstreet Development Fund II LLC, a $75 million private equity fund focused on the development of transitional care (short-stay rehabilitation and therapy) properties across the United States. Heavenrich & Company Inc. acted as an advisor on the closing of the fund.