MCKINLEY COMPLETES SECOND ANN ARBOR APARTMENT ACQUISITION FOR 2012November 25, 2012
Ann Arbor, MIMcKinleyannounced today that they haveacquiredTraver Knoll Apartments, a 216 unit garden apartment community on the north side of Ann Arbor.With this acquisition,McKinley now owns more than 5,300 units in theregion, a dominant footprint in this vibrant market.
"Ann Arbor is the economic engine of theMidwest. It's a college, medical and research powerhouse that is fundamentally recession proof because of the 'jobs creator' thatthe University of Michigan has becomefor the region,"said Albert M. Berriz, CEO of McKinley. Berriz added..."We areextremelycommitted to Ann Arbor, the region is enjoying an influx ofGen Y graduates and new economy workforce workersseeking to live here based upon thearea'soverall economic health, entrepreneurial activity, access togreatarts and leisureas well asa quality of life that is second to none.As a matter of fact, the north side communities of Ann Arbor are the best performing communities in our entire Midwest US portfolioandthis acquisition willhelpfurther solidify our position in the marketplace."
McKinley continues to make strategic acquisitions throughout its 25 state platform for its own account and for its institutional clients and partners. In addition to Ann Arbor, the major focus of growth has been along the I-85 Corridor from Maryland to Georgia, the I-4 corridor from Tampa to Orlando, Texas and Nevada.