News


June 29, 2009

June 30, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for Washington Place Shopping Center, a 103,000 square foot building located in Indianapolis. The shopping center, located adjacent to the Washington Square Mall, includes tenants such as Office Depot, AT&T Wireless and Supercuts. The appointment for Washington Place was made by Marion Superior Court in the County of Marion, Indiana.

I am confident that by applying our experience and expertise, our team will be able to create value for the stakeholders, states Matt Mason, Senior Vice President, Commercial Client Services.

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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June 29, 2009

June 29, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

Ann Arbor, MI - Matthew D. Mason has been promoted to Senior Vice President, Commercial Client Services. Mr. Mason leads McKinleys Commercial Client Services division. Mr. Mason has significant expertise in assisting institutional clients in the workout of distressed shopping centers, office buildings and industrial buildings throughout the United States. Mr. Mason has been appointed as a court-appointed Receiver for distressed assets in multiple states. Mr. Mason leads a team of eight commercial portfolio and asset managers who as a team employ a disciplined, value added business model to ensure successful results for our clients. Including the management of his team, Matts duties includerelationship management, commercial portfolio management and redevelopment, lease negotiation, and acquisition and disposition of new assets. Matt is a member of McKinleys Executive Committee. Heis a graduate of the University of MichiganDearborn where he studied Political Science and History (96, B.A.). After graduation from U-M, Mr. Mason attended the Thomas M. Cooley Law School in Lansing, Michigan (98, J.D.). He is a member of the Michigan State Bar and a Certified Commercial Investment Member (CCIM).

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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June 29, 2009

June 19, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. is proud to announce our lead sponsorship of the 7th Annual St. Pete Pride 2009 event taking place during the month of June. Event festivities will be held in St. Petersburg, Florida and the St. Pete Pride Parade will take place on Saturday, June 27th. To learn more please visit http://www.stpetepride.com/sponsor.

The St. Pete Pride event is one of the largest in the Southeast, second only to Atlanta. It has been a great experience for the entire McKinley team. We promote diversity, and we are really living this core value at McKinley! states Cecelia Ford, Senior Regional Property Manager, Southern Region. We have made wonderful contacts within the LGBT community and I believe that our participation will greatly benefit both the event and our organization.

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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June 11, 2009

The rise of social media think Facebook, Twitter, LinkedIn and YouTube has caught the attention of the business community, which increasingly is using the outlets as online recruiting tools.

Instead of tedious hourly updates about the grindingly dull minutiae of mundane lives, metro Detroit companies and job seekers have discovered that social media allows a focused, cost-effective way of bolstering, and in some cases supplanting, traditional print, broadcast and online recruiting.

Even the Central Intelligence Agency and National Security Agency are using Facebook to recruit.

U.S. Web-based recruiting has grown into a $522 million industry, and it's predicted to grow at a rate of 8 percent a year, based on 2008 Forrester Research data, reported Cobizmag.com, an online Colorado business magazine.

That includes traditional job Web sites, but it's harder to quantify the use of purely social networking sites, which typically are free.

Southfield-based automotive data analysts R.L. Polk & Co. has an interactive career portal (polk.standoutjobs.com) that links to more than 50 social networks.

We also use Twitter, Facebook and MySpace to broadcast our opportunities. I would say social networks are the main way we advertise and generate all of our candidates, said JayMarshall, Polk's manager of talent acquisition.

The company's use of social media for recruiting recently helped it become a winner in the biennial Arbor Awards for Excellence for innovative or best resources in human resources management, sponsored by Northville-based human resources consulting firm The Arbor Consulting Group and Eastern Michigan University.

About 25 percent of Farmington Hills-based design agency Eview 360's job interviewees come from social media contacts, CEO Melissa Centra said.

You can reach a great deal of people through social networking, and you can also gain a lot more referrals that way, she said. In addition, the word about the company hiring spreads rapidly, which generates unsolicited inquiries.Instead of incurring the cost of placing an ad, you can use your network to spread the word and help you identify top talent.

Unlike recruiting-specific online resources, such as Monster.com and CareerBuilder.com, most social networking sites are free. They can be set up in minutes and are relatively easy because they're designed for general use.

Ann Arbor-based McKinley Inc., a national real estate firm, has hired 150 people this year and expects to hire 150 more. Much of the recruiting will be done through the firm's various online tools, including Facebook.

McKinley began using social networking outlets to recruit in February and has discovered that the yield ratio of inquiries to actual interviews is extremely high, about 75 percent, said Karen Andrews, the firm's chief development officer.

The candidates we've seen come though (social media connections) are exactly what we're looking for, she said.

The company is adding short video interviews with current employees to McKinley's social media pages to show prospective candidates what it's like to work there.

We want it to be an authentic feel of what it's like to work with us, Andrews said. The spots are being made with a $200 Flip digital video camera.

The companies using social media to recruit are as varied as those who use it for play.

For example, Troy-based Diversified Industrial Staffing Inc. has been posting job openings on social media Web sites for the past month. The company is a head-hunter for clients seeking to fill skilled jobs, such as machinists and welders, in the construction, manufacturing and logistics industries.

Those looking for jobs are increasingly turning to their social networking in addition to traditional online recruiting sites.

With this job search, I didn't want at all to look on Monster and HotJobs and all the popular sites, said Brenda Meller, who was hired in December as marketing manager for Troy-based Walsh College, thanks to a connection on LinkedIn.com, a networking site that connects people professionally and academically

I didn't want to be lost in the millions of people looking out there.

She made a connection with someone at Walsh on LinkedIn, and hers was the first rsum for the job (of hundreds) that wasn't posted yet. She was able to build a rapport through social media with the recruiter and eventually landed the position.

Meller cautioned that being first and being savvy with social networking is helpful, but being qualified for the job is more important.

LinkedIn got me there, but it was a combination of factors that got me the job at Walsh, she said.

Others remain comfortable with traditional job-search methods.

Farmington resident and certified public accountant Dave Schneider is looking for a job as a staff or senior accountant, or being an assistant controller. He doesn't use social media.

I guess I am not familiar with how the social networking works, he said. I think accountingjobs are found using the traditional approach; however, I could be mistaken.

Bill Shea: (313) 446-1626, bshea@crain.com

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June 3, 2009

June 4, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for Greenwich Apartments, a 58 unit apartment home community located in North Toledo. The appointment for Greenwich was made by the Court of Common Pleas in Lucas County, Ohio.

We are pleased that we have been selected to assist with this community. states Garrett Hain, Vice President, Residential Client Services. I am confident that by applying our teams passion and expertise, we will be able to enrich the quality of life for the residents and create value for the stakeholders.

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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June 2, 2009

June 1, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley is pleased to announce it has been retained as the property manager for the Echelon Building located in Indianapolis, Indiana. The approximately 30,000 square foot office and retail building is a complementary asset to McKinleys owned retail portfolio in the Castleton Corners area. The building includes tenants such as: Houseworks, a modern, upscale furniture showroom; Absolu Spa and Skin Care; and a state-of-the-art dental spa. This is McKinleys third commercial workout assignment in the Indianapolis area, joining Pike Plaza and Fall Creek Harbour.

I am confident that by applying our expertise and business methods, we will be able to streamline the buildings operations and create additional value, states Matt Mason, Vice President, Commercial Client Services.

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

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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May 17, 2009

May 18, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. is pleased to announce our expanded relationship with the Orlando, Florida chapter of The Salvation Army. Jim Boccher, Residential Sales Senior Vice President, along with Regional Sales Director Stephanie Anson and Leslie Haselden, Regional Property Manager, attended the May 15th Stone Soup Open House event. Those attending the event were able to tour The Salvation Army facilities and speak with the staff. The partnership with The Salvation Army also provides assistance to those who qualify for the program should residents fall upon hard times. The Salvation Army will provide temporary rent and assist with utility payments for individuals who meet their requirements to ensure residents do not lose their homes.

The Salvation Army provides many programs to the underprivileged and underserved; including aid to select individuals participating in one of their programs that is designed to provide employment assistance and budget counseling for individuals who are trying to reintegrate themselves back into the community after a crisis such as foreclosure, job loss, or family separation. Additionally, this program assists individuals so they can learn to manage their own funds, secure employment and pay rent to a Salvation Army housing facility.

We look forward to strengthening our relationship with The Salvation Army so that we can make a difference in the lives of those in need and continuing our commitment to improving the quality of life in the communities where we live and work, states Jim Boccher, SVP, Residential Real Estate.

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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May 10, 2009

May 11, 2009

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley, Inc. has been appointed Receiver for a 20,216 square foot shopping center located at 2010-2016 August Drive and 68 Briggs Drive in Mansfield, Ohio. The property consists of two freestanding retail buildings. The appointment for the property was made by the Court of Common Pleas, Richland County, Ohio.

Im confident that by applying our experience and expertise, our team will be able to create value for the stakeholders, states Matt Mason, Vice President, Commercial Client Services.

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 28,358 apartments and over 6.2 million square feet of commercial space located in 15 states. Headquartered in Ann Arbor Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,050 full-time employees nationwide.

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May 6, 2009

by Dan Meisler | Michigan Business Review

Thursday May 07, 2009, 6:50 AM

An Ann Arbor-based real estate company with more than 6 million square feet of commercial and retail and 28,000 apartment units owned or under management will continue to look toward central Florida and the southeast as areas for acquisitions.

McKinley Inc. CEO Albert Berriz said the company's attitude toward its properties in Ann Arbor is to hold, while focusing on expansion in the southeast to maintain geographical diversity.

And he predicted that it would take between five and 10 years for the office and retail markets to recover.

Meanwhile, McKinley will focus on its increasing workout business for large banks and government agencies, and two growth corridors for commercial expansion -- Interstate 4 through central Florida, and Interstate 85 between Atlanta and Washington, D.C.

Berriz recently spoke with Ann Arbor Business Review reporter Dan Meisler about his business and the national real estate market.

Business Review: Describe some of McKinley's recent activity.

Albert Berriz: In central Florida, we've completed the acquisition of exactly 3,300 (residential) units, a little over 15 properties in three basic areas: Orlando, Pinellas County, which is St. Petersburg/Clearwater, and Volusia County, which is Daytona/Daytona Beach. And those have been primarily previously distressed condominium conversions that we converted back to conventional garden apartments. We've been able to acquire fantastic buildings across the street from buildings we already own in markets like Winter Park, which is in Orlando, or southwest Orlando which is the Disney area, or along the Gulf of Mexico in St. Petersburg and Clearwater ... I would say in the past 15 months. That now brings our total of what we own in central Florida to over 5,000 units.

Are you looking at other parts of the country for more acquisitions?

In the acquisition area, it's central Florida.

What is your attitude toward Michigan in terms of acquisition or selling opportunities?

We are a diversified business, so for us geographic diversity and product line diversity is important ... We have 5,300 units in Washtenaw County, that's 60 percent of all the garden apartments in the county, which makes us far and away the largest residential landlord in the county. So from a diversification perspective, we've got enough exposure to Washtenaw County ... The same would hold true for commercial.

Are you concerned about the softening of the commercial real estate market in downtown Ann Arbor?

The phenomena you describe is a direct correlation to the distance to the University of Michigan. The further away, the more pronounced the problem. Main Street's very different than our Google building on Division ... I think that the economic driver is the university and therefore the distance from the university has a direct impact on rent and value. Main Street will act differently than where we are on campus.

What are the criteria you consider when looking for acquisitions?

Secondary and tertiary markets. We won't go to a New York or Chicago... any market that we go into has huge employment drivers. Our theory is that jobs always create rent... Central Florida of course has the commercial tourist industry as a great example of that. In Ann Arbor, the University of Michigan is a great example of that. We're in Norfolk, Va., the Naval Atlantic fleet is a great example of that.

Anywhere we're located there's going to be a huge employment driver, and the characteristic of that employment driver is it won't go away.

... Our theory is we would always buy the buildings right across the street from those employers ... In Orlando, our buildings are right across the street from the theme parks.

You've identified southeastern states as potential areas for expansion. What are the specific secondary and tertiary markets there that are attractive to you, and why?

There are two major areas we're focusing on for acquisition expansion in this geography. One is the I-85 corridor ... essentially from Atlanta to Washington, D.C. You take that road and I-4, the road that connects Orlando and Tampa. Along those two corridors, will be the greatest number of jobs created in the United States in the next 20 years (according to) all prognostications of job creation ... We see it as the economic equivalent of what happened in the 1960s and 1970s connecting Los Angeles and San Diego.

Are you interesting in buying more commercial properties that are not residential, such as office or retail?

We're not currently in the acquisition mode on the commercial side. I just don't think the time is right. I think you'll see a continued drop in values in shopping centers and office buildings ... I think you'll see significant devaluation occur across the country in both of those asset classes. ... It could take a decade.

We built too many shopping centers as a country, and we built them at a time that we were relying on our homes as ATMs, as a method by which to buy flat-screen TVs, and it was a false economy. We won't be able to go back and consume at the rate we consumed between 2001 and 2007, so therefore we just need less brick and mortar to sell things out of.

So would you consider selling that type of asset?

It's a terrible time to sell, because everything is being sold as distressed, so the answer is no. We're happy with what we have. It's very diversified. It's in a lot of different places. It's all value retail, so we don't do any high-end retail. Our office buildings are tremendously well-occupied.

Have the frozen capital markets affected McKinley?

We find tremendous support from the capital markets. We have significant access to capital from the commercial banking communities. We've got long-term relationships with our financial partners.

Describe McKinley's current workout business.

Candidly, at this point, it's the larger of the two parts of our business. Today McKinley is approaching almost 18,000 apartments and on the commercial side, 7 to 8 million square feet of shopping centers.

The geography's the same. We have people in these locations (Atlanta, Florida, Virginia) that have been with us for many years.

This business is doing real estate workouts for our financial partners. These are people that are typically lending us money ... these are Wall Street lenders, insurance companies, pension funds and servicers from across the country.

The choice comes in our geography. We can't execute outside that geography ... we're often asked to go to places like Texas or Arizona ... we can't go, because we won't be good for them.

We have people in position that can execute, and we know the markets (that we're in). We would be slow to expand because we're highly focused on execution. The reason why people retain us is our results are extraordinarily good. If we get outside of this geography, it changes our ability to execute.

Is there a common thread in all the workouts you take on?

Sponsorship. The person who they lent money to is the single biggest reason we have to come in and fix the problem. The number one criteria is weak sponsorship - somebody doesn't have enough money or enough experience or enough talent to deal with the issue, and typically they don't have all three ... Leverage is a problem. It is not a consistent thread. There are people who have overleveraged properties, but they have the financial capacity to weather the storm, they have the talent to weather the storm, they have the relationships to weather the storm, they have the expertise to weather the storm.

How long will it take for the markets to recover?

Office and shopping centers, 5 to 10 years. Apartments, depending on the market, are already healing themselves. Retail and office, in some locations, you may see things not come back because we built in places we shouldn't have built.

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May 4, 2009

Gulfport | Brent Boyette admits he lucked into his current position as a regional senior sales associate. The former flight attendant says hes found his niche and will stay in the apartment industry for the foreseeable future.

For more information on Seaside Villas, visit McKinley.com, or contact Boyette at BBoyette@McKinley.com or at 727-341-0186.

Boyette gave Watermark a tour of the 122-apartment, 3-building complex and answered some of our questions:

WATERMARK:

Gulfport is already well-known as an LGBT friendly place. Why focus on creating an

LGBT-centric apartment complex?

BRENT BOYETTE:

Id like to see urban professionals seeking a lifestyle, not just anapartment. Here we provide a better quality of living.

Ive seen apartment complexes that wont let two men lease an apartment if it only has one bedroom.

Gulfport is so welcoming and so artistic. Its a boutique community and LGBTs of all ages are still discovering the area.

So this could be an LGBT Melrose Place?

In a way. An apartment complex is a community. We have several community areas overlooking the bay and sunbathing decks around three pools.

The complex is still undergoing renovations. Does

anyone live here yet?

Right now there are only a few residents, but we have several more tenants moving in over the next few months. Were doing a lot to reach out to the

community, and I think well fi ll up fast.

Does this outreach have anything to do with your

Gay by the Bay campaign?

Yes. Were a major sponsor of St. Pete Pride this year and were looking to host LGBT events here throughout the year. We want to offer not only homes

to people, but a sense of belonging and community.

How large are your apartments?

We offer one- and two-bedroom apartments ranging from small studios to penthouses overlooking the water. Our leases start as low as $749 per month

and go up to $4,500.

What does the lease include?

Most of the apartments have washers and dryers inside. For those that dont, we have laundry facilities on-site. Residents also get free wireless internet

throughout the complex and access to all three pools. Some of our apartments are furnished, if thats what a resident wants, and we can lease by the

week, by the month or by the year. It really depends on what the resident wants.

Many LGBT people avoid apartments because of restrictions on pets. Can they bring their fourlegged kids?

We are very pet friendly. My dog Beamer lives here on site with me and we have our own dog walking area.

Are there any limitations on size?

There are no limits on size, but we do have limits on breeds. Each apartment can have two pets as long as they arent German Shepherds,

Rottweilers, Akitas or Pitt Bulls.

And what about kidsthe human kind?

Of course children are welcome. But we dont have a playground or anything like that. Some may view that as a positive thing. Our complex is really

geared toward couples without children and single professionals.

What happens when the complex is full? Will you stay here?

I hope to. I love Gulfport and St. Petersburg. McKinley is a big company and we have properties all along the I-4 corridor. I want to be the

guy that people can call and say, Look, Im moving to Orlando or Daytona Beach or Gulfport and I need an apartment. Can you help me? Thats the ultimate. I

really enjoy helping people find their new home.

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