News


August 31, 2011

ORLANDO, FLORIDA McKinley is pleased to announce the acquisition of Oakwood Apartment Homes in Orlando, FL on behalf of its client, Karlin Real Estate. McKinley served as the real estate advisor and is the new property manager for this 304 unit community. Oakwood Apartment Homes represents the fourth apartment acquisition by Karlin in central Florida. Located on a beautiful campus setting between Universal Studios and the Mall at Millenia, Oakwood offers an incredible combination of location, amenities and floor plans for customers looking for a great home in Southwest Orlando.

"McKinley has owned and operated apartment communities in this market since 1982, and we are excited about the opportunity this acquisition provides for our client," said Kenneth P. Polsinelli, Chief Real Estate Officer. "This transaction utilized the entire platform of McKinley's real estate advisory services including asset selection and contract negotiation, physical condition and needs assessment, financial modeling, as well as property management and leasing. We are especially pleased that McKinley was able to deliver Karlin Real Estate a complete solution from start to finish on this asset in less than 30 days."

For information about McKinley's Institutional Client Services, please contact Kenneth P. Polsinelli, Chief Real Estate Officer at 734-769-8520 x230.

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August 29, 2011

Check out the annarbor.com article about Cataphora, a Menlo Park, Calif.-based organizational behavior software firm, signing a lease for space at The Offices at Liberty Square...http://annarbor.com/business-review/california-based-software-company-signs-deal-to-open-location-in-the-offices-at-liberty-square/

For more information on the offices at Liberty Square at the McKinley Towne Centre, please contact Thomas Gritter at 734-769-8520 x 289

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August 25, 2011

PIGEON FORGE, TENNESSEE McKinley is pleased to announce it has been retained as the manager for the former Belz Factory Outlet Mall, a 450,000 square foot retail shopping center near the entrance to the Great Smokey Mountain National Park in Pigeon Forge, Tennessee. The mall features brand-name outlet stores such as a Nike, Izod, Tuesday Morning and Black and Decker.

We appreciated the opportunity to be involved in the repositioning of this asset on behalf of all of the stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.

For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.

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August 25, 2011

McKinley is pleased to announce that Cataphora, Inc., (http://www.cataphora.com/) an innovative organizational behavior software company, has signed a lease at The Offices at Liberty Square at McKinley Towne Centre. Cataphora is headquartered in Menlo Park, California and has been featured in both the Wall Street Journal and the New York Times. Cataphora offers many technologies ranging from risk management, business process improvement, conspiratorial behavior detection, textblock detection, and many more. Cataphora joins current tenants, the University of Michigan TechArb, The Onion, Reznick Solutions, and Barre Bee Fit at Liberty Square.

Cataphora joins a growing list of innovative entrepreneurial companies deciding to locate at Liberty Square said Tom Gritter, Vice President and Managing Director of Commercial Real Estate for McKinley. Were delighted to have them as a tenant and what they will bring to Ann Arbor and Liberty Square.

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August 24, 2011

McKinley is pleased to announce that Sun Valley Sports has signed a lease to open a store at McKinleys Castleton Commons shopping center in Indianapolis, IN. Sun Valley Sports is an outdoor sports store that caters to snowboarders, skiers and skaters. Along with the sporting equipment they sell, Sun Valley Sports also carries multiple lines of footwear, apparel and snowboard and ski outerwear.

Were delighted that Sun Valley Sports has chosen to open up a location at Castleton Commons said Tom Gritter, Vice President and Managing Director of Commercial Real Estate. Castleton is fast becoming the place to shop for sports enthusiasts in Indianapolis with the recent additions of Sun Valley Sports and REI along with existing tenants Performance Bikes and Golfsmith. Sun Valley Sports will open up this fall.

For more information on Castleton Commons, please contact Thomas Gritter at 734-769-8520 x 289

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August 24, 2011

COLUMBUS, OHIO McKinleys Commercial Client Services is pleased to announce that theCourt of Common Pleas for Franklin County, Ohiohas appointed McKinley the Receiver forChanningway Retail Center, a 100,000 square foot shopping center in Columbus, Ohio. The center is approximately 70% occupied and contains nearly 40 tenants.

Channingway Retail Plaza represents McKinleys tenth commercial workout assignment in Ohio.

We appreciated the opportunity to be involved in the repositioning of this asset on behalf of all of the stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.

For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.

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August 24, 2011

MANSFIELD, OHIO McKinley is pleased to announce that Commercial Client Services has completed another successful workout of a distressed retail asset. The property, Gateway Center, is a 20,215 square foot retail center in Mansfield, Ohio for whichMcKinley was appointed receiver on May 9, 2009. During the receivership McKinley was able to attract Hobby Force to the center, renew existing tenants such as Great Clips, and improve the centers operating efficiency. These value-creating successes enabled McKinley to attract a buyer for the center.

We appreciated the opportunity to be involved in the repositioning of this asset on behalf of all of the stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.

For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.

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August 22, 2011

McKinleys Residential Client Services team is pleased to announce that it has been appointed Receiver for a 14 asset multifamily portfolio spanning over 6 states. This 3,719 unit portfolio includes 7 assets in Texas which marks McKinleys first expansion into the Texas market. This appointment is also is one of the five largest multifamily assignments in the CMBS market in 2011.

Read all about it...

http://www.multifamilybiz.com/PR/772

http://www.rebusinessonline.com/main.cfm?id=19709

http://www.globest.com/news/1981_1981/houston/313232-1.html?ET=globest:e26968:369856a:&st=email

http://www.annarbor.com/business-review/ann-arbor-based-mckinley-appointed-receiver-in-one-of-top-5-distressed-multifamily-portfolios-in-us/

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August 21, 2011

Second Largest Loan in the Nation Offered by the Office of Affordable Housing Preservation in 2010

Ann Arbor, MI August 15, 2011 McKinley is pleased to announce on behalf of The City of Taylor and Taylor Community Development Corporation that all improvements to The Ponds apartment community under the Green Retrofit Project (GRP) offered through HUDs Office of Affordable Housing Preservation (OAHP) have been successfully completed within the 12 month required deadline. This program provided funding of $6,060,059 to help renovate The Ponds apartment community which will in turn reduce energy demand, lower operating costs, improve the residents quality of life and reduce the community's impact on the environment.

This GRP award was the second largest loan among more than 221 properties that received loans or grants in 2010 and provided funding for significant energy related improvements including new 95% efficient boilers and water heaters, programmable thermostats, insulation and caulking/weather stripping. In addition, Energy Star refrigerators and dishwashers replaced old appliances that were inefficient and outdated. All residents at The Ponds also received new Energy Star air conditioning units in their apartments which is the first installation for these homes. Other interior apartment improvements included cabinet and counter top replacements, new doors, new carpeting, water-saving toilets, new exhaust fans and energy efficient interior lights. The exterior improvements on the property included new roofing, new energy efficient exterior lighting systems and repairs to all of the roads, service walks and sidewalks.

This project has helped to remodel and retrofit this 511 apartment home community in an energy efficient and environmentally friendly way," says Keith Hayward, Managing Director for McKinley. "The interior improvements have created new homes for our residents and the exterior improvements have created a more positive environment. The quality of life for our residents has been greatly enriched through the Green Retrofit Project and we are grateful to HUD for their support.

For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli, Chief Real Estate Officer at 734-769-8520 x230.

Contacts:

Jessica Haigh

McKinley

734-769-8528 x101

jhaigh@mckinley.com

Leigh Curry

Curry Conduit Services

609-882-3868

lcurry@curryconduit.com

About McKinley

http://www.mckinley.com

Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily real estate. Currently ranked #38 in the NMHC Top 50 list of national apartment management companies, McKinley owns and manages more than 33,000 units throughout 20 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as a select clientele of institutional investors, private equity clients and special servicers. McKinley is a member of the National Multi Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO).

About Taylor Community Development Corporation

Taylor Community Development Corporation is a not-for-profit organization formed November 20, 1997 by its sole member, the Taylor Housing Commission, to provide housing for low-to moderate-income families and to acquire, renovate and operate The Parks, The Ponds, The Commons senior apartments, The Courtyards and The Springs at The Villages of Taylor located within the City of Taylor

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August 18, 2011

PORT CHARLOTTE, FLORIDA-McKinley is pleased to welcome Florida Souvenirs and Gifts to its 185,000 square foot Village Marketplace shopping plaza in Port Charlotte, FL. Florida Souvenirs and Gifts is a local business selling t-shirts and other accessories in the Port Charlotte area.

Tom Gritter, Vice President and Managing Director of Commercial Real Estate had this to say Were delighted to have Florida Souvenirs and Gifts at Village Market Place. We believe in supporting entrepreneurs and the operator of Florida Souvenirs and Gifts is a wonderful local entrepreneur.

Florida Souvenirs and Gifts joins Save-A-Lot, Bealls Outlet, Dollar Tree, Staples, Books-A-Million and many other national and local tenants at Village Marketplace.

For more information on retail space at the Village Marketplace, please contact Thomas Gritter at 734-769-8520 x 289

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