October 23, 2017
Champaign, IL. - The McKinley Companies announced today the sale of three Multifamily assets located in Champaign, Illinois. These assets, along with the sale of its Office and Retail portfolio comprise a larger strategic effort to transform McKinley into a Multifamily Real Estate Platform consisting of high quality, long-term, generational Multifamily assets located in Michigan, Illinois, Indiana, Georgia and Florida.
"We carefully reviewed the entire portfolio and after a disciplined and thoughtful process, it was determined that these assets did not meet our long-term expectations and could not be characterized as truly generational assets," offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. "We are in the process of rotating this capital into high quality, investment grade, triple net assets in the short-term, and then working its way into Multifamily assets for the long-term as opportunities arise in our core markets," further offered Berriz.
October 9, 2017
The McKinley Companies announced today the acquisition of a Triple Net Lease Asset located in Windermere, Florida. The property is occupied on a long-term lease by Fifth Third Bank, located in close proximity to Walt Disney World, and near many of the McKinley Multifamily holdings in the Orlando Theme Park Market. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise.
“As we exit our retail and office holdings, we are moving capital to Multifamily primarily, and also into high quality investment grade triple net leases. We plan to eventually rotate all of our capital into Multifamily over time as opportunities arise, and markets shift to being more of a buyer’s market,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. “In the interim, our Triple Net Investments will only be of the highest credit quality and in conjunction with being extraordinarily well located real estate. The Windermere/Disney location was a natural for us of course, it’s a core investment market for us,” added Berriz.
McKinley was supported by Comerica Bank in this acquisition, one of its longest commercial banking relationships it has had over the years. “Comerica is family for us, they are always there for us, and they did a terrific job on execution on this deal,” further added Berriz.
October 2, 2017
The McKinley Companies announced today that Royal E. (Trey) Caswell, Senior Vice President & Managing Director - Institutional Real Estate, was awarded the prestigious Counselors of Real Estate (CRE) designation. Those designated a “Counselor of Real Estate” are prominent real estate practitioners recognized for their expertise, experience, and ethics in providing advice that influences real estate decisions.
The CRE designation is awarded to those individuals who are invited by their peers into the membership of The Counselors of Real Estate, and who accept membership by fulfilling the rigorous entry requirements of the organization, including peer, employer and client review.
“We are very proud of Trey and this honor is something that speaks volumes to the countless things he has accomplished in his professional career, and the many things he will do in the future,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner.
“While honored to receive this designation, I am excited for the future interaction with my fellow professionals in the advancement of the real estate industry,” Trey noted. Adding “At McKinley, we pride ourselves on our ability to tackle real estate challenges and provide successful solutions. In my role leading our Institutional Real Estate and Development efforts, these professional connections are vital.”
CRE member Harry Collison sponsored Trey for membership based on his many years of working with Trey to solve complex real estate issues. Harry stated, "Trey will be a tremendous asset to the CRE organization and its members."