Document Actions
McKinley Finances Over $18 Million
Detailing $18 mil in recent real estate financing.
February 9, 2007
Contact: Elaine Medrow
734-769-8520, ext. 462
For Immediate Release
Ann Arbor, Michigan – McKinley, a national real estate investment firm headquartered in Ann Arbor, Michigan, successfully arranged a $15,200,000 non-recourse loan on a 152-unit senior housing property and a 7,650 square foot child care facility located in Livingston County, Michigan. Working through one of McKinley’s correspondent lenders, Aaron Klein arranged the 10-year fixed-rate loan with the first year as interest-only, followed by a 30-year amortization schedule.
In addition, Mr. Klein successfully arranged a $1,050,000 loan for a 10,800 square foot mixed-use property in Ypsilanti Township, Michigan. The 10-year non-recourse loan was structured with the first year as interest-only, followed by a 30-year amortization schedule.
Finally, Mr. Klein completed a loan on behalf of the borrower for a 12,869 square foot executive office suite property outside Atlanta, Georgia. The $1,800,000 loan has a seven-year fixed-rate term and a 30-year amortization schedule. This loan is assumable and has flexible, early prepayment terms.
McKinley, founded in 1968, is a well-respected real estate investment firm that owns and operates $1.5 billion in assets. For its own account and select clientele, it manages 103 properties, including 16,447 apartments and 4.6 million square feet of commercial space located in nine states nationwide. Albert M. Berriz serves as Chief Executive Officer of McKinley, headquartered in Ann Arbor, Michigan, and employs 712 full-time workers nationwide.