News


June 8, 2018

OCALA, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment in Ocala, Florida.  This new construction property is occupied on a long-term lease by a Wal-Mart Supercenter, located in a highly visible premier retail corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise.

 

“We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade,”offered Jim Willett Senior Vice President & Managing Director –Finance.  “This is particularly important for us in a rising rate market. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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Tags:   NNN

May 23, 2018

ORLANDO, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Orlando, Florida. This property is a newly constructed, free-standing Dunkin Donuts with a drive-thru and strategically located in the Orlando tourist area next to Universal Orlando resort.

“This real estate is in a very special location.  A large number of the apartments we own in central Florida are within a few miles of this asset,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “The theme park market is booming, and we anticipate further growth in this region which makes the Triple Net location very attractive to us," further offered Berriz. 

McKinley secured long term structured financing for a pool of NNN assets with Comerica Bank, N.A., one of McKinley’s most trusted and long-term banking relationships. “Comerica is a key partner and they strategically provided financing for us with terrific terms to allow us to position these assets for the long term. The pool is made up of select NNN assets consisting of two Sun Bank, N.A. bank locations in Gainesville and Lakeland, Florida, a Fifth Third Bank branch located in Windermere, Florida near Walt Disney World and two food & beverage properties also in Central Florida which includes this Dunkin Donuts and a Kentucky Fried Chicken in Orange City,” offered Jim Willett, Senior Vice President & Managing Director – Finance.

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May 10, 2018

CAYCE, SC. - The McKinley Companies announced today the acquisition of a Fee Simple interest in a commercially zoned property subject to a Triple Net Lease located in Cayce (Columbia), South Carolina. This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting on the high traffic signalized intersection of Hwy 321 and Knox Abbot Rd in the city’s main commercial corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “This is particularly important for us in a rising rate market. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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May 4, 2018

McKinley is proud to partner with Project Healthy Schools to purchase water bottle filling stations for Tappan, Slauson, Forsythe, Scarlett, and Clague middle schools.  READ MORE

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Tags:   Media

May 1, 2018

AUGUSTA, GA. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Hephzibah, Georgia.  This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting in a dense retail and commercial corridor and in close proximity to Fort Gordon with 30,000 active military personnel. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“As we exit our retail and office holdings, we are moving capital to our core Multifamily platform, and also into a newly created platform of high-quality investment grade triple net leases consisting primarily of Walmart properties in the Southeast and Midwest,”offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “We have been methodical and disciplined in crafting a sophisticated portfolio of long term Triple Net Investments of the highest credit quality and in conjunction with being extraordinarily well located real estate,”added Berriz.

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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April 24, 2018

CLEMSON, SC. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Clemson, South Carolina.  The property is occupied on a long-term lease by a Wal-Mart Supercenter, and is located in a dense retail trade area within three miles of Clemson University. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets. 

 

“We are thrilled with this addition to our extraordinary NNN investment portfolio,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We are looking forward to closing several acquisitions we have in the pipeline that will add to our portfolio of NNN investments,” added Willett.

 

This acquisition is being financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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Tags:   Triple Net

April 23, 2018

McKinley is proud to announce Andrew Berriz – Director, Special Projects Group – has been appointed to the board of directors of the Ann Arbor YMCA.  This appointment further strengthens the partnership between the YMCA and McKinley to provide youth development and healthy living resources to Washtenaw County.  Currently the YMCA offers free Safety Around Water classes at McKinley’s Washtenaw County apartment communities where children learn important life-safety skills.

 

“What the YMCA is able to accomplish in providing resources to youth and families in our community is extraordinary.  Our partnership with the YMCA is core to who we are,” noted Albert M Berriz, Chief Executive Officer and Managing Member of McKinley. “There is a great need for the type of resources the YMCA offers in our community.  We’re looking at additional opportunities with the YMCA to expand resources on the east side of the county where the need is greatest."

 

Ann Arbor YMCA President & CEO Toni Kayumi said, “I am excited to have Andrew Berriz on our board.  McKinley exemplifies corporate social responsibility in its generous and collaborative partnership with the Y.  We share a commitment to our community; and together we are making a positive impact in the lives of children in Eastern Washtenaw County.”

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Tags:   charity

April 9, 2018

Ann Arbor, Michigan - McKinley's Institutional Real Estate Division is pleased to announce that it has accepted a property management and real estate advisory services assignment in one of its core markets – Ann Arbor, Michigan.  400 Maynard is a mixed-use development just steps away from University of Michigan’s Central Campus at the intersection of Maynard and East William Streets.  With ground floor retail and 76 apartment homes, 400 Maynard provides immediate accessibility to State Street and the U-M Diag.

 

Beside an outstanding location, 400 Maynard offers a living experience that is atypical for most U-M students in Ann Arbor’s student housing space.  With studio and one-bedroom layouts, absolute privacy is a must for residents navigating a demanding schedule of lectures, homework and exams.  The community features newly renovated apartments, a rooftop terrace, terrific views, and a new fitness area.  Additionally, the 11th floor has two-bedroom penthouse suites.  Off-site, structured parking is available as well.

 

“We look forward to adding value to this long-standing asset in the heart of Ann Arbor,” said David Rohlfs, McKinley’s Director, Institutional Real Estate.  “My team of professionals are ready to improve this property for our client and more importantly to improve the experience for our student residents.  That is what we do day in and day out at McKinley.”

 

"We are excited to add 400 Maynard to our portfolio of communities in Washtenaw County," stated Royal E. Caswell III, McKinley’s Managing Director, Institutional Residential Real Estate.  “This addition builds upon our long-standing experience in our home market of Ann Arbor and allows us to offer an incredible value to meet the need for students in our community,” Caswell added.

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Tags:   mixed-use

March 29, 2018

ORLANDO, FLORIDA - The McKinley Companies announced today the closing of $5,838,000 in long-term financings with KeyBank and Fannie Mae for Iris Flats located in Orlando Florida. The 15-year financings were originated by KeyBank, and they represent the next part of an approximately $200 million pipeline in similar financings that McKinley began with KeyBank and Fannie Mae over the past six months.  

 

Iris Flats offers restored industrial style apartment homes with exposed concrete vaulted ceiling and steel wood barn doors in a community with urban charm decorated in iron accents and serenaded in a pop of rich colors.  Iris Flats residents enjoy a new fitness center, dog park, and private al fresco dining space in a manicured garden terrace.  Iris Flats is located in Englewood Park within walking distance to local parks and lakes, nearby Florida Hospital East Orlando, and a convenient expressway hop to Downtown Orlando. 

 

“The financing of Iris Flats is part of our long-term plan for our generational assets,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We are setting sail for a long horizon to ensure our owned assets are locked in with great financing in a market with rising interest rates.” further added Willett.

 

McKinley has owned and operated multifamily apartment communities in Central Florida since 1982, and today is largest Multifamily owner-operator along the highly populated Interstate-4 Corridor between Orlando and Tampa.  McKinley currently owns apartment communities in Orlando, Winter Park, Daytona Beach, Gainesville, North Redington Beach, South Pasadena, Clearwater, Gulfport, Hyde Park, South Tampa and Tampa.

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Tags:   Hyde Park

March 29, 2018

HYDE PARK, FLORIDA - The McKinley Companies announced today the closing of $6,404,000 in long-term financings with KeyBank and Fannie Mae for Soho Flats located in Hyde Park, Tampa, Florida. The 15-year financings were originated by KeyBank, and they represent the next part of an approximately $200 million pipeline in similar financings that McKinley began with KeyBank and Fannie Mae over the past six months. 

 

Soho Flats is part of the McKinley Hyde Park boutique collection of unique and historic apartment communities located in Hyde Park, Tampa, Florida.  Soho Flats is a classic south beach style art deco concrete building shining with chic colors and style.  In the center courtyard residents enjoy poolside living alongside an entertainment space with a wine bar, grill and fire pit lounge under historic Tampa oak trees.  Soho Flats is tucked away in the walkable residential neighborhood of Bayshore Gardens within a few blocks of Bayshore Blvd and culinary curators such as the prestigious Bern’s Steakhouse.  

 

“We have worked diligently to lock up all of our Multifamily debt going into this rising rate market,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We have only a few financings remaining to complete and then we will have all of our Multifamily debt fixed with either 15 or 35-year terms,” further added Willett.

 

McKinley today is the largest owner-operator of multifamily apartments in the Hyde Park market, spanning a total of 26 communities located throughout Hyde Park, South Tampa and the Westshore Marina District.  McKinley has owned and operated multifamily apartment communities in Central Florida since 1982, and today is largest Multifamily owner-operator along the highly populated Interstate-4 Corridor between Orlando and Tampa.  McKinley currently owns apartment communities in Orlando, Winter Park, Daytona Beach, Gainesville, North Redington Beach, South Pasadena, Clearwater, Gulfport, Hyde Park, South Tampa and Tampa.

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Tags:   Hyde Park

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