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
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.
December 11, 2014
Orlando, FL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of the Island One office building in Orlando, Florida. McKinley was appointed Receiver of this 55,529 square foot asset on December 12, 2012 and was retained as Manager. During its time as Manager, McKinley was able to increase aesthetics by replacing the awnings, updating the landscaping and upgrading the lobby. Property management also completed an upgrade of the energy management system.
“Our Orlando-based team was able to implement numerous changes to this property to increase the value for the disposition,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “I am proud of what they were able to accomplish,” added Leach.
December 8, 2014
Missoula, MT - McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of South Hills Retail in Missoula, Montana. McKinley was appointed Receiver of this 36,356 square foot mixed-use property on March 31, 2014. During its time as Receiver and Property Manager, McKinley initiated an upgrade of the energy management system, brought a 10,000 square foot deal with the State of Montana to the table, and reconfigured the common areas to create a more functional space for the tenants.
"The Institutional Commercial Real Estate team is pleased to have the opportunity to work out this asset on behalf of the court,"stated Lauren Leach, Director, Commercial Portfolio Management - Institutional Commercial Real Estate. "Our team was able to make a substantial impact on this asset in a very short amount of time," Added Leach.
December 8, 2014
Indianapolis, IN - McKinley is pleased to announce the conclusion of its management of Creekwood Apartments in Indianapolis, IN. McKinley took over as property manager for this 510 unit community in October of 2013. Over the last 13 months occupancy was increased from 65% to over 95% and monthly revenue increased from $148,000 to $236,000, creating significant value for our client.
"I'm pleased with the results and value creation during McKinley's tenure at Creekwood," stated Thomas Gritter, Vice President. "It was a great team effort that most importantly benefitted the residents of Creekwood," added Gritter.