News


November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

McKinley, thanks to a strong partnership with Ernie Katai and his team at Berkadia, is pleased to announce the closing of a $30,580,000 loan with the Department of Housing and Urban Development on Glencoe Hills apartments, in Ann Arbor, Michigan.

Ken Polsinelli, Chief Real Estate Officer:

This important loan reflects the significant investment that McKinley continues to make in its communities. McKinley's long-term investment in our people and in our real estate, in combination withour passionate commitment to "WOWing" our customers, enabled our team to excel and to take advantage of this opportunity. We are thrilled with this display of confidence by the capital markets, particularly in these difficult times, and we are even more pleased that this result will allow us to provide for our team members and customers in Washtenaw County.

Jim Willett, Treasurer:

"The Glencoe Hills loan is a first step in a series of transactions that begins to position our owned assets with long term financing while lowering the overall cost of capital and debt service. The thirty-five year term is a perfect match for our long term investments in apartment communities and allows for flexibility in the future on refinancing. The effective execution by Berkadia and an internal team across disciplines within McKinley made the delivery flawless on this $30,588,000 loan."

Albert M. Berriz

"We cherish our long term partnership with Ernie and his team at Berkadia and our good friends at the Department of Housing and Urban Development. This transaction is an important element in our very favorable positioning of our balance sheet for the long term"

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November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

Norfolk, VA DEALS, a bargain-hunter store acquired by Dollar Tree in 2006, opened its doors on Friday, October, 29thto a filled parking lot at the McKinley JANAF Shopping Yard in Norfolk, VA. The grand opening of their new flagship store is one of over 150 stores located in malls around the country. The new bargain store location will serve as a model for future DEALS locations.

McKinley renovated the existing Dollar Tree store, expanding the commercial space by 8,375 square feet to make the new DEALS store 19,599 square feet. McKinley also added a new faade to create a fresh new look.

The Dollar Tree executives were pleased with the final product and the grand opening of their new flagship store. In an email to Joel Evans, the Regional Director of Leasing for McKinley at the JANAF Shopping Yard, Doug Webb of Dollar Tree noted, I appreciate your hard work and results more than you know, Joel.

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November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

McKinley is pleased to announce the successful disposition of Pine Circle townhomes on behalf of our client. Pine Circle is a 56 unit community located in Grand Rapids, MI. McKinley managed the property since September, 2009.

Albert M. Berriz, McKinley CEO:

I am once again excited to announce the successful Mckinley disposition of Pine Circle today for our client. We are extremely pleased with this outcome for our client.

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