McKinley Announces Successful Disposition of Minnesota Shopping CenterJanuary 5, 2016
McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of Lincoln Square Shopping Center in Mahtomedi, Minnesota. McKinley was appointed Receiver on February 24, 2014 and then engaged to continue as Manager post-foreclosure. During its time as Manager, McKinley completed a comprehensive roof assessment, directed a complete parking lot resurfacing and secured a critical replacement tenant while navigating the asset through contract negotiation and a successful disposition.
"We are pleased to be selected by our client to manage and dispose of Lincoln Square on its behalf," stated Matthew Mason, Managing Director and Partner. "Our team, once again, demonstrated its ability to drive significant results in a very short time frame and meet the objectives of our valued institutional client."
“Matt and his executive team delivered exceptional service, and created the maximum amount of value as quickly as possible,” said Kenneth P. Polsinelli, Chief Real Estate Officer. “The current retail environment is quite challenging, and McKinley leveraged its expertise and its view as an Owner to produce a great outcome for all stakeholders,” added Polsinelli.