News


May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinleys Residential Client Services is pleased to announce the successful disposition of Turtle Bay Estates. Turtle Bay Estates is a 174 site manufactured housing community in Syracuse, Indiana. McKinley was appointed receiver of this lakefront residential community in August of 2009.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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

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May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for West Campus Apartments, a 236 unit apartment community located in Kalamazoo, Michigan. The appointment was made by the 9th Judicial Circuit Court of Kalamazoo County. We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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

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May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for Derby Ridge Apartments, a 240 unit apartment community located in Lakeside Park, Kentucky. The appointment was made by Kenton Circuit Court. We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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

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May 17, 2010

May 17, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinleys Commercial Client Services group is pleased to announce the successful disposition of Fall Creek Harbour. McKinley was appointed receiver of this 52,000 square foot mixed-use center in Fishers, Indiana in March of 2008.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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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May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. is pleased to announce that Residential Client Services has been appointed Property Manager for a 358 unit apartment home community, Wellington Place, located in Orange Park, Florida.We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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

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May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for Brandon Manor Apartments, a 32 unit apartment community located in Brandon, Florida. The appointment was made by the Circuit Court of the Thirteenth Judicial Circuit in and for Hillsborough County, Florida. We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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

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May 17, 2010

May 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley is pleased to announce the promotion of James Vuong from Web Designer and Development Associate to the Director of Marketing, Media and Attraction (MMA). In his new role, James will be McKinleys Marketing Technology leader.

After spending five years at General Motors as an engineer, James brings a diverse and formidable skill set to McKinley. Also, James created his first profitable website at the age of thirteen demonstrating his ability to understand business even at a young age. After joining McKinley in June 2009, James built a robust and interactive web community that allows our customers to connect with McKinley and with each other to pay rent, request maintenance service or just let us know whats on their minds.

Before James arrived at McKinley, I had a vision and an outcome in mind for my.McKinley.com states Albert L. Berriz, Vice President & Managing Director for Residential Real Estate. James made that vision a reality one pixel and one customer at a time.

James received a Bachelors of Science in Electrical Engineering from Kettering University.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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May 5, 2010

Posted: May 6, 2010 at 6:00 AM [Today]



Ann Arbor-based McKinley Inc. dominates the local apartment landscape, owning 5,000 units that account for 60 percent of the conventional low-rise apartment complexes in Washtenaw County.

Across the U.S., McKinley added another 6,000 units to its owned portfolio, along with some key commercial buildings - like McKinley Towne Centre in downtown Ann Arbor.

Yet the company - which built its local reputation as a landlord - has quietly grown over recent years into an institutional real estate management company, adding both jobs to its Ann Arbor-based corporate headquarters and properties to the portfolio it manages for others.

The business has matured and grown, said CEO Albert M. Berriz. Its become a very sophisticated institutional real estate management business.

(McKinley) is now a real estate advisory brand.

According to a report from Real Capital Analytics, institutions - such as pension funds and life insurance companies - pumped more than $35 billion into the apartment sector in 2007. That followed a year when they invested an estimated $23 billion into the sector.

Those investors - led by many East Coast firms that control billions - look for long-term, stable returns.

Yet, said Berriz, theyre not looking to manage the properties.

And thats where McKinley steps in.

The first effort was in the late 1990s when McKinley was appointed receiver at the Villages of Taylor, a federally funded and troubled complex that the company turned around and still manages.

Locally, an early receivership by McKinley was the former Lake in the Woods in Ypsilanti Township, which McKinley managed until its eventual sale and rebranding as Lake Shore Apartments.

Today, the companys portfolio of managed apartments tops 20,000 units and more than 150 properties, bringing its total portfolio to more than 30,000 units. The company has also expanded into new states: It now operates in 20 states, all east of the Mississippi River, and excluding the northeast. Ten of those states were added in the last four years.

Some of the business is done for property workouts, or cases in which a lender takes a property back after a loan default. Other clients - like Berkadia and Freddie Mac- can look for longer-term management.

But McKinley does turn away work that doesnt fit its model: Berriz insists that a McKinley executive must be able to reach a property that it takes into its portfolio within a four-hour drive.

So the company has grown into Atlanta, Norfolk, Va.; and central Florida, while declining offers to work in Phoenix and Dallas. Its enough to generate $400 million in annual revenue.

We know where we can be effective and where we cant, Berriz said.

The national investment climate that stalled commercial real estate deals in 2009 is starting to thaw, Berriz said. But the workout business isnt slowing down, even as recovery takes hold.

Berriz estimates that full national recovery wont be seen until 2013-2015.

And in the meantime, McKinley will continue to accept both temporary and longer-term assignments from its key customers. Today, its working on more than 150 properties; 26 were resolved.

Berriz says the company now can be described as a finanance-based, intellectual capital-based business.

Were managing our real estate in the way we manage our own real estate, Berriz said. Its run off the same platform with the same people. Its a great expansion of our brand.

It also benefits Ann Arbor as the company expands to 125 employees in its headquarters on North Main Street. Many of the new jobs come from three new departments, which account for a combined 30-plus new positions: Marketing, media and attraction; residential asset management; and commercial asset management.

Nationally, McKinley employs 1,250 and operates three leadership hubs: Indianapolis, Atlanta and Winter Park, Fla.

Yet because McKinley keeps its headquarters downtown, growth in those three places is fueling growth in Ann Arbor, Berriz said.

That doesnt mean that McKinley is seeking more property in Ann Arbor. It wont sell assets here; however, Berriz said, we have a responsibility to diversify our balance sheet.

And purchasing property will be a secondary effort for the company moving forward. Today, its owned property is about one-third of its $1.3-billion portfolio. In coming years, that will drop to 20 percent.

The most likely scenario for McKinley on the purchase side is to join its clients in joint venture deals, he said.

The most important thing we value is our relationships, Berriz said. We deal with very large organizations. Their breadth is bigger than anything we could do. In the worlds were in, were the first person they think of.

Paula Gardner is Business News Director of AnnArbor.com. Contact her at 734-623-2586 or by email. Sign up for the weekly Business Review newsletter, distributed every Thursday, here.


Link: http://www.annarbor.com/business-review/institutional-real-estate-clients-fuel-mckinleys-growth-in-eastern-us-and-ann-arbor-headquarters/

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April 21, 2010

April 22, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release


McKinleys Residential Client Services is pleased to announce the successful disposition on behalf of our valued client of Cypress Post Apartments. Cypress Post Apartments is a 19 unit apartment community located in Jacksonville, Florida.

We were excited to have the opportunity to apply our proven track record of success to assist with this asset, states Albert M. Berriz, Chief Executive Officer.

This disposition is a recent example of how McKinley aggressively solves real estate challenges for our clients. From takeover to disposition, the McKinley team enjoys exceeding expectations for our partners and clients.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets in 139 properties for its own account and for select clientele. This includes 29,269 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

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April 20, 2010

Top 50 Apartment Managers (Rankings)

2010 NMHC 50
50 Largest U.S. Apartment Managers as of January 1, 2010

2010 Manager Rank 2009 Manager Rank Company Name Headquarters Corporate Officer 2010 Units Managed 2009 Units Managed
1 1 Pinnacle Family of Companies Seattle, WA Stan Harrelson 183,877 185,219
2 2 Riverstone Residential Group Dallas, TX Walt Smith 178,431 181,928
3 5 Greystar Real Estate Partners, LLC Charleston, SC Robert Faith 153,819 140,000
4 4 Equity Residential Chicago, IL David J. Neithercut 136,843 148,115
5 6 Lincoln Property Company Dallas, TX Tim Byrne 132,881 130,265
6 3 AIMCO Denver, CO Terry Considine 129,715 154,987
7 7 Archstone Englewood, CO R. Scot Sellers 83,085 83,871
8 8 WinnCompanies Boston, MA Samuel Ross 73,302 75,353
9 9 Camden Property Trust Houston, TX Richard J. Campo 63,506 62,641
10 10 Bell Partners, Inc. Greensboro, NC Steven D. Bell 60,422 61,663
11 12 FPI Management, Inc. Folsom, CA Dennis Treadaway 56,952 53,671
12 11 Fairfield Residential LLC San Diego, CA Chris Hashioka 55,054 60,265
13 13 Edward Rose & Sons Farmington Hills, MI Warren Rose 53,667 52,794
14 16 UDR, Inc. Highlands Ranch, CO Thomas W. Toomey 51,342 50,895
15 15 Alliance Residential Company Phoenix, AZ Bruce Ward 49,488 49,600
16 14 AvalonBay Communities, Inc. Alexandria, VA Bryce Blair 48,924 48,338
17 19 Westdale Real Estate Investment & Management Dallas, TX Joseph G. Beard 46,682 42,915
18 18 The ConAm Group of Companies San Diego, CA Brad Forrester 46,100 43,500
19 17 Picerne Real Estate Group Phoenix, AZ David R. Picerne 44,927 44,754
20 21 Mid-America Apartment Communities, Inc. Memphis, TN H. Eric Bolton, Jr. 43,604 42,554
21 28 BH Management Services, Inc. Des Moines, IA Harry Bookey 41,366 36,532
22 24 Empire American Holdings, LLC Montvale, NJ Eli Feller 40,776 40,776
23 29 Milestone Management, L.P. Dallas, TX Steve Lamberti 40,092 36,408
24 22 Michaels Development Company Marlton, NJ Robert J. Greer 38,236 41,120
25 27 Gables Residential Atlanta, GA David D. Fitch 37,842 37,366
26 31 Village Green Companies Farmington Hills, MI Jonathan Holtzman 37,692 34,792
27 23 Capstone Real Estate Services, Inc. Austin, TX James W. Berkey 37,675 40,870
28 newcomer Irvine Company Apartment Communities Irvine, CA Kevin Baldridge 37,193 36,343
29 25 Home Properties, Inc. Rochester, NY Edward J. Pettinella 36,947 38,280
30 30 JRK Property Holdings, Inc. Los Angeles, CA Jim Lippman 36,624 35,103
31 26 Sentinel Real Estate Corporation New York, NY John H. Streicker 35,709 37,461
32 33 Forest City Residential Group, Inc. Cleveland, OH Ronald A. Ratner 34,658 33,045
33 32 Colonial Properties Trust Birmingham, AL Thomas H. Lowder 34,644 33,143
34 37 The Lynd Company San Antonio, TX A. David Lynd 33,471 30,530
35 34 The Related Companies New York, NY Jeff Blau 33,155 32,581
36 newcomer Concord Management, Ltd. Maitland, FL Edward O. Wood, Jr. 32,022 31,489
37 38 Lindsey Management Co., Inc. Fayetteville, AR James E. Lindsey 31,813 29,443
38 newcomer Asset Plus Companies Houston, TX Michael S. McGrath 31,081 17,322
39 36 Morgan Properties King of Prussia, PA Mitchell L. Morgan 30,627 30,627
40 newcomer The Bozzuto Group Greenbelt, MD Thomas S. Bozzuto 30,157 25,819
41 35 The John Stewart Company San Francisco, CA Jack D. Gardner 29,989 31,685
42 20 CNC Investments, Ltd. Houston, TX Charlie Yalamanchili 29,913 42,647
43 newcomer The Laramar Group, LLC Denver, CO David B. Woodward 29,508 21,574
44 newcomer American Campus Communities Inc. Austin, TX Bill Bayless 29,342 29,126
45 newcomer McKinley, Inc. Ann Arbor, MI Albert M. Berriz 28,358 22,143
46 44 LEDIC Management Group, LLC Memphis, TN Scott P. "Pierce" Ledbetter, Jr. 28,348 26,132
47 42 Berkshire Property Advisors Boston, MA Frank Apeseche 27,806 26,995
48 41 BBR Management, LLC Charlotte, NC Philip S. Payne 27,798 27,816
49 43 Essex Property Trust, Inc. Palo Alto, CA Michael Schall 27,411 26,868
50 newcomer Edgewood Management Corporation Germantown, MD A. Scott Jones 26,845 26,165

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