ANOTHER SUCCESSFUL COMMERCIAL WORKOUT AND DISPOSITION FOR MCKINLEYSeptember 6, 2012
ANN ARBOR, MIMcKinley Commercial Client Services is pleased to announce the successful workout and disposition of Kelly Road Self-Storage, a 499 unit storage facility in Ft. Myers, FL. McKinley was appointed receiver of the property on June 10, 2010 and later assumed property management after the foreclosure of the asset. The value of the asset increased significantly due to the repositioning strategy employed by McKinley.
"We are very pleased to add another successful chapter to the McKinley Commercial Client Services track record," commented Matt Mason, Senior Vice President and Managing Director of Real Estate at McKinley. "The McKinley team was able to double occupancy and revenue while enhancing the appearance of the asset through extensive landscaping, painting and asphalt work, as well as work with local agencies in order to satisfy long standing fire, elevator, and landscaping compliance issues."