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May 23, 2018

ORLANDO, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Orlando, Florida. This property is a newly constructed, free-standing Dunkin Donuts with a drive-thru and strategically located in the Orlando tourist area next to Universal Orlando resort.

“This real estate is in a very special location.  A large number of the apartments we own in central Florida are within a few miles of this asset,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “The theme park market is booming, and we anticipate further growth in this region which makes the Triple Net location very attractive to us," further offered Berriz. 

McKinley secured long term structured financing for a pool of NNN assets with Comerica Bank, N.A., one of McKinley’s most trusted and long-term banking relationships. “Comerica is a key partner and they strategically provided financing for us with terrific terms to allow us to position these assets for the long term. The pool is made up of select NNN assets consisting of two Sun Bank, N.A. bank locations in Gainesville and Lakeland, Florida, a Fifth Third Bank branch located in Windermere, Florida near Walt Disney World and two food & beverage properties also in Central Florida which includes this Dunkin Donuts and a Kentucky Fried Chicken in Orange City,” offered Jim Willett, Senior Vice President & Managing Director – Finance.

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May 10, 2018

CAYCE, SC. - The McKinley Companies announced today the acquisition of a Fee Simple interest in a commercially zoned property subject to a Triple Net Lease located in Cayce (Columbia), South Carolina. This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting on the high traffic signalized intersection of Hwy 321 and Knox Abbot Rd in the city’s main commercial corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “This is particularly important for us in a rising rate market. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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May 4, 2018

McKinley is proud to partner with Project Healthy Schools to purchase water bottle filling stations for Tappan, Slauson, Forsythe, Scarlett, and Clague middle schools.  READ MORE

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May 1, 2018

AUGUSTA, GA. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Hephzibah, Georgia.  This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting in a dense retail and commercial corridor and in close proximity to Fort Gordon with 30,000 active military personnel. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“As we exit our retail and office holdings, we are moving capital to our core Multifamily platform, and also into a newly created platform of high-quality investment grade triple net leases consisting primarily of Walmart properties in the Southeast and Midwest,”offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “We have been methodical and disciplined in crafting a sophisticated portfolio of long term Triple Net Investments of the highest credit quality and in conjunction with being extraordinarily well located real estate,”added Berriz.

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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