April 27, 2015
ANN ARBOR, MI. – Betsy Berriz, Vice President, Owned Residential Real Estate, and Tom Gritter, Managing Director, Michigan Residential Development, jointly announced today that the Glencoe Oaks project located in Pittsfield Township, Michigan is nearing final completion now expected by early May. Glencoe Oaks is a 35 unit luxury apartment community featuring two, three and four bedroom custom-designed apartments. Each of these newly constructed apartments feature granite countertops, breakfast bars, slate kitchen energystar appliances, high efficiency washers/dryers, oversized walk-in closets, double bathroom sinks, beautiful vinyl wood flooring in main living areas, covered parking and so much more. Glencoe Oaks also will be a "McKinley Smoke Free Community" as part of a companywide effort to offer smoke free living environments.
Glencoe Oaks is part of the larger Glencoe Hills Apartment community, and represents the latest phase of the planned development on rolling hills and lakes which has over 635 apartment homes.
"The lease up has exceeded our expectations in terms of rental rates and speed of absorption," offered Berriz, and she went on to say "and we are thrilled to be able to offer large townhome units in the Ann Arbor School District which are very much in demand and impossible to find. We have also focused on energy efficiency in our unit designs and offering a smoke free living environment which has been a customer driven outcome."
The development is part of a larger effort McKinley now has underway developing several similar projects in the Ann Arbor and Fenton markets where it has a dominant footprint.
"We see a real opportunity to bring to market certain in-fill projects in several key strategic locations that will offer a product and living experience much required in Fenton and Ann Arbor," added Gritter, and he further added "our early results prove out that what we saw in terms of a need is certainly there." Gritter expects to deliver several other projects now in the pipeline between 2015 and 2016 throughout the region.
April 15, 2015
Albert M. Berriz and Kenneth P. Polsinelli jointly announced today the opening of McKinley's Florida Corporate Offices in Winter Park, Florida, to be headed by Polsinelli, McKinley's Chief Real Estate Officer.
"Florida today is McKinley's largest portfolio concentration, our primary acquisition focus, and the center of our growth for the enterprise. Ken's move to Orlando with his family, and the expansion of our offices in Winter Park, should be a strong signal to everyone that we intend to continue expanding throughout Central Florida into the future with conviction" announced Albert M. Berriz, CEO.
McKinley has been actively investing in Central Florida Real Estate since 1982, and today it is the largest owner-operator of multifamily assets throughout the Orlando MSA. It also has major multifamily portfolio concentrations in the Tampa Bay Region and Gainesville, and significant retail holdings along the west coast of Florida as well.
"I believe in Florida. I believe that we have today, and will continue to grow, a market dominant position along the Interstate-4 corridor. My family and I are looking forward to the move to Winter Park," added Polsinelli. Polsinelli, a Partner and Shareholder, has been with the firm since January 1999, and today leads McKinley's real estate and finance functions as its Chief Real Estate Officer.
April 9, 2015
McKinley is pleased to announce Jeff Lilly, Senior Maintenance Supervisor, is celebrating his 30th Anniversary at McKinley’s First Energy and Akron Centre Plaza Building.
Jeff began working at the First Energy and Akron Centre Plaza buildings in 1985 as the Lead Maintenance Technician. Through hard work and dedication he rose to his current position as Senior Maintenance Supervisor where he has succeeded since 2007. Jeff oversees and supports facilities operations for McKinley’s entire commercial portfolio in Akron, including the Akron Centre Plaza, First Energy Building and the 222 building.
To mark this significant milestone of achievement McKinley hosted a luncheon on April 8th in Akron in his honor.
“I have worked with Jeff for nearly four years and I believe his greatest accomplishment is the pride he has in the Akron building,” stated Denise A. Armstrong, Assistant Vice President and Regional Property Manager. “Jeff has also worked his magic on the landscaping and has been honored with the Akron beautification award for the last 3 years.”
April 8, 2015
McKinley is proud to announce Brian Henkel, Loss Prevention & Senior Safety Supervisor in Taylor, MI, has been awarded McKinley’s prestigious “Above & Beyond Award.”
On the night of February 16 at the McKinley community, The Ponds, a devastating fire affecting twenty-two families ripped through one of the apartment buildings. Because of Brian’s quick actions he was able to go door-to-door and evacuate residents allowing them to make it to safety. Brian’s level headedness and quick actions made a difference and ensured the residents were not injured.
Once residents made it to safety, with temperatures well below zero, Brian made sure everyone was comfortable by opening the office and gathering people to stay warm. He and his team proceeded to clear ice by the apartments so firefighters and others assisting with the emergency response would not slip and get hurt.
“We can’t thank Brian enough for his commitment and dedication that led to the safety of our residents, his immediate actions proved to be lifesaving,” stated Terri Terry, Regional Director. “Brian’s actions the night of Feb 16th made a significant difference,” shared Terry. She added, “Brian is an exceptional person and we are proud to have him on our team.”
March 26, 2015
Read this article in the Detroit Free Press featuring McKinley's CEO, Albert M. Berriz, and his take on Michigan's jobless rate being its lowest in 14 years. CLICK HERE
March 13, 2015
McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce it has been retained as the property manager for the 31st Street Crossing Shopping Center in Temple, TX. This 27,340 square foot retail property is home to tenants such as Domino’s Pizza, H&R Block, Weight Watchers and Camino Real Mexican Restaurant.
“I am confident that by applying our expertise and business methods, we will be able to streamline the building’s operations and create additional value,” stated Chris Allen, Director, Institutional Commercial Real Estate.
March 13, 2015
McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of Houston Square, a 60,799 square foot shopping center in Warner Robbins, Georgia. McKinley was appointed property manager for this asset on December 21, 2012. During its time as property manager, we were able to greatly improve the exterior appearance of the property, repair deferred maintenance, white box all vacant suites into lease ready condition and were successful in a tax appeal that reduced the taxable value of the property by 67%. These accomplishments positioned the property for a successful sale to a local buyer.
“This was a challenging workout that included many special projects,” stated Chris Allen, Director, Institutional Commercial Real Estate. “Our team, through its experience and expertise was able to successfully reposition the asset for sale,” shared Allen.
March 9, 2015
McKinley is proud to continue its tradition of improving the quality of life in the community. READ MORE
March 2, 2015
McKinley property company has relocated 22 families affected by a fire at The Ponds Apartments in Taylor to other housing units it owns in the area. READ MORE
February 24, 2015
Multi-State - In combination with its strategic refinancing efforts of its existing residential portfolio, its new acquisitions, and new acquisitions with strategic partners, McKinley will execute in excess of $50 million of major renovations and repositioning’s during 2015 in its core markets which include Orlando, Tampa, Indianapolis, Ann Arbor and Champaign.
"We are making significant investments in all of our generational assets to position them for the long term,” stated Kenneth P. Polsinelli, McKinley’s Chief Real Estate Officer. “With these investments, we are taking the quality of the portfolio to a totally new level in 2015," indicated Polsinelli.
Additionally, McKinley is making its new acquisitions more competitive than it has ever done before going-in by focusing on details such as interior features and amenities. This effort is driven by customer feedback and market trends.
"Our acquisition strategies today include making our portfolio highly competitive right out of the box to include washer-dryers in all units, granite countertops, stainless steel appliances, superior lighting trim and finish, and sophisticated flooring options which allows us to generate higher than projected financial results on these newest investments," added Polsinelli. A green energy focus is also a major part of the effort to include new windows and doors, insulation, new roofing, new mechanical systems and energy star appliances.
"We have found that a focus on the "basics" of mechanical systems and the building envelope allows us to immediately radically reduce energy costs following the completion of our improvements, making the ROI significant," further added Polsinelli.
The execution strategy has been flawlessly planned and is being carried out with a high degree of quality control which McKinley is well known for having perfected its renovation strategies over its 47 year history as an owner-operator and long term holder of real estate.
"We have never had better leaders and teams in position living in our core markets allowing us to radically leverage our efforts as we look across the residential platform today," offered Albert M. Berriz, McKinley's Chief Executive Officer. "This is the advantage of focusing on building an internally driven leadership pipeline that produces seasoned leaders who live in our markets and have grown up in our world,” shared Berriz. “It is also critical to our efforts that we have been in these markets three and four decades combined with the significant market presence we enjoy in each case," added Berriz.