News


March 2, 2015

McKinley property company has relocated 22 families affected by a fire at The Ponds Apartments in Taylor to other housing units it owns in the area.  READ MORE

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Tags:   Taylor

February 24, 2015

Multi-State - In combination with its strategic refinancing efforts of its existing residential portfolio, its new acquisitions, and new acquisitions with strategic partners, McKinley will execute in excess of $50 million of major renovations and repositioning’s during 2015 in its core markets which include Orlando, Tampa, Indianapolis, Ann Arbor and Champaign. 

"We are making significant investments in all of our generational assets to position them for the long term,” stated Kenneth P. Polsinelli, McKinley’s Chief Real Estate Officer.  “With these investments, we are taking the quality of the portfolio to a totally new level in 2015," indicated Polsinelli. 

Additionally, McKinley is making its new acquisitions more competitive than it has ever done before going-in by focusing on details such as interior features and amenities.  This effort is driven by customer feedback and market trends.

"Our acquisition strategies today include making our portfolio highly competitive right out of the box to include washer-dryers in all units, granite countertops, stainless steel appliances, superior lighting trim and finish, and sophisticated flooring options which allows us to generate higher than projected financial results on these newest investments," added Polsinelli.  A green energy focus is also a major part of the effort to include new windows and doors, insulation, new roofing, new mechanical systems and energy star appliances.

"We have found that a focus on the "basics" of mechanical systems and the building envelope allows us to immediately radically reduce energy costs following the completion of our improvements, making the ROI significant," further added Polsinelli.

The execution strategy has been flawlessly planned and is being carried out with a high degree of quality control which McKinley is well known for having perfected its renovation strategies over its 47 year history as an owner-operator and long term holder of real estate.

"We have never had better leaders and teams in position living in our core markets allowing us to radically leverage our efforts as we look across the residential platform today," offered Albert M. Berriz, McKinley's Chief Executive Officer. "This is the advantage of focusing on building an internally driven leadership pipeline that produces seasoned leaders who live in our markets and have grown up in our world,” shared Berriz.  “It is also critical to our efforts that we have been in these markets three and four decades combined with the significant market presence we enjoy in each case," added Berriz.

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January 28, 2015

Kenneth P. Polsinelli, McKinley’s Chief Real Estate Officer, announced today the acquisition of Iris Flats located on Semoran Boulevard and State Road 408 (Spessard L. Holland East-West Expressway). Iris Flats now joins Conway Forest in McKinley's Downtown Orlando portfolio, and is minutes from its Winter Park portfolio and its Orlando Airport portfolio along Semoran Boulevard.

"McKinley has owned and operated quality apartments in Orlando since 1982, and this acquisition expands our portfolio of offerings further and provides additional options for our customers in the Downtown and the Orlando Regional Medical Center area," states Polsinelli.

Plans for this latest acquisition include extensive interior renovations with all new kitchens and baths, the addition of washer-dryers in all units, and a comprehensive exterior renovation of the buildings, grounds and amenities as well.

"Our experience and proven track record as a major apartment renovator allows us to acquire older communities in extraordinary locations and execute transformational change to the assets. Once the renovations are completed, Iris Flats will compete head on as an excellent option in the marketplace for those customers who work either in the Downtown or at the Airport, or for customers who prefers to be close to the retail, entertainment, and restaurant options just minutes away in Downtown Orlando," added Polsinelli.  

McKinley, a privately-held family business, has extensive multifamily holdings throughout Central Florida including residential communities located in Daytona Beach, Orlando, Winter Park (Orlando), Hyde Park (Downtown Tampa), Gulfport (St. Pete Beach), Pasadena Beach (St. Pete Beach), Clearwater Beach and Gainesville, Florida. It is the largest residential owner/operator in the region, and most importantly, there are over 500 marvelous McKinley Team members locally on the ground in these communities, serving and delivering extraordinary customer service each and every day.

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Tags:   I-4

January 28, 2015

McKinley's Institutional Residential Real Estate Division is pleased to announce that it has completed the successful takeover of Ravenna Apartments on behalf of Avanath Affordable Housing II, LLC.  Ravenna is a 228 unit community located in East Orlando, Florida. 

Ravenna is located within minutes to dining, entertainment and shopping at Waterford Lakes Town Center, and it has excellent access to job concentrations throughout Orlando via the immediate access to State Roads 417, 408 (East-West Expressway) and 528 (Beachline Expressway).

The community amenities include a controlled access gate for entry, poolside Wi-Fi, a 24-hour fitness studio, and washer/dryer connections. Spacious interior floor plans include stylish one, two, three and four bedroom options.

"We are excited to add Ravenna to the high quality portfolio of affordable communities Avanath has acquired over the past several years in Central Florida.  Ravenna positions us well to provide best in class workforce housing in the growing Orlando International Airport market, and it also adds to the already strong foundation we have in the Theme Park markets located near Disney, Sea World and Universal Studios," stated Royal E. Caswell III, McKinley’s Managing Director, Institutional Residential Real Estate.

McKinley, a privately-held family business, has extensive multifamily holdings throughout Central Florida including residential communities located in Daytona Beach, Orlando, Winter Park (Orlando), Hyde Park (Downtown Tampa), Gulfport (St. Pete Beach), Pasadena Beach (St. Pete Beach), Clearwater Beach and Gainesville, Florida. It is the largest residential owner/operator in the region, and most importantly, there are over 500 marvelous McKinley Team members locally on the ground in these communities, serving and delivering extraordinary customer service each and every day.

“Ravenna Apartments is a perfect addition to our portfolio of affordable apartment communities that provide homes for the growing workforce in Orlando and other communities.  With our partners at McKinley, we will make enhancements to Ravenna that will improve the quality of life for our residents,” stated Daryl Carter, Chief Executive Officer.

McKinley-Avanath is actively involved in the management of affordable communities located in Dallas, Orlando, Indianapolis, Chicago, Ann Arbor, Kissimmee and Naples for its own investment platform as well as for select institutional clients.

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Tags:   Orlando

January 28, 2015

McKinley’s CEO, Albert M. Berriz, recently participated on a panel during the 2015 NMHC Annual Meeting in Palm Springs, California with a team of former Continental Bank colleagues entitled “From Continental Bank to the World of Multifamily: Lessons in Leadership.”  

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Tags:   NMHC

January 27, 2015

McKinley is proud to have our Director of Commercial Operations, Jessica Furlong, join the Detroit (BOMA/Metro Detroit) 2015/2016 Board of Directors.

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Tags:   BOMA

January 26, 2015

The list of Ann Arbor's top property taxpayers from 2014 reveals a city whose tax base leans heavily on residential and multi-tenant retail properties.

To read the whole article please click on the link below.

http://www.mlive.com/news/ann-arbor/index.ssf/2015/01/a_different_kind_of_suburb_wha.html#incart_river

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Tags:   Mlive, Ann Arbor

January 14, 2015

McKinley is proud to be a part of the great community of Ann Arbor alongside the top rated University of Michigan!  Go Blue!

Read more about it on the Detroit Free Press.

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Tags:   U-M

December 22, 2014

McKinley is proud to announce that it's founder, Ambassador Ronald N. Weiser and Mrs. Eileen L. Weiser have made a $50 million gift to the University of Michigan.   This gift will support different areas of interest significant to the couple including: International Institute in the College of Literature, Science, and the Arts; the School of Education; the Athletic Department; the U-M Health System; the University Musical Society; and the Stephen M. Ross School of Business. This gift brings the Weiser family's lifetime giving to the university to $95.9 million.

To read more about the Weiser family's generosity and their connections to the university please click the following link: http://ns.umich.edu/new/releases/22581-weisers-50-million-gift-impacts-six-university-of-michigan-units#.VJNcmnzB-t0.facebook

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Tags:   Michigan

December 11, 2014

THIRD LAKE, IL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of Waterstone Place in Third Lake, Illinois located approximately 50 miles northwest of Chicago.  McKinley was appointed Receiver of this 12,744 square foot asset on September 28, 2010 and was retained as Property Manager.  During its time as Manager, McKinley executed a ten year lease with a dentist, and reduced association expenses by 50%. 

“The dedicated team assigned to this asset was able to double NOI during McKinley’s time as Manager,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate.  “These results are beyond impressive,” shared Leach.

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Tags:   Third Lake

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