McKinley Completes Year-End Financings with Berkadia and Fannie MaeDecember 27, 2017
ANN ARBOR, MI. - The McKinley Companies announced today the successful completion of supplemental financings for two of its generational Multifamily assets that it owns in Indiana and Florida. The communities, Carmel Woods a 314-unit community located in Carmel, Indiana, and Turnbury at Countryside a 350-unit community located in Clearwater, Florida, exceeded all operational expectations and thus allowed McKinley to secure supplemental financing from Fannie Mae well in advance of its anticipated target date.
“The team at Berkadia led by our good friends Ernie Katai and Justin Wheeler performed flawlessly along with our friends at Fannie Mae as they both always do,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. “Once again, our Owned Multifamily team led by Albert L. Berriz, exceeded all expectations, generating exceptional revenue and net operating income gains at these communities, allowing us to execute these financings well ahead of plan,” further added Berriz.
The Indianapolis and Tampa Bay markets are core markets for McKinley, having owned and operated Multifamily communities in Indianapolis since 2001 and Central Florida since 1982.