November 17, 2015
McKinley City Beautiful acquires its newest community, Highland Flats, located in Downtown Orlando. "We are excited about the progress we are making to expand our McKinley City Beautiful brand in Downtown Orlando, and we hope to make several announcements shortly that will further our presence in the downtown," offered Ken Polsinelli, McKinley's Chief Real Estate Officer.
Highland Flats will undergo extensive interior and exterior renovations, with acquisition and renovation financing provided by the PrivateBank of Michigan. "This is a terrific walkable location near jobs, shopping and great dining in the downtown," stated Polsinelli.
"Our vision of providing unique choices, price points and customer experiences in both Downtown Orlando and Downtown Tampa is an important part of our overall Interstate-4 brand strategy," offered Albert M. Berriz, McKinley's CEO "With this acquisition, we now have 55 communities along the Interstate-4 Corridor spanning from Daytona Beach to St. Petersburg Beach with our core locations of Orlando and Tampa," added Berriz.
January 28, 2015
McKinley's Institutional Residential Real Estate Division is pleased to announce that it has completed the successful takeover of Ravenna Apartments on behalf of Avanath Affordable Housing II, LLC. Ravenna is a 228 unit community located in East Orlando, Florida.
Ravenna is located within minutes to dining, entertainment and shopping at Waterford Lakes Town Center, and it has excellent access to job concentrations throughout Orlando via the immediate access to State Roads 417, 408 (East-West Expressway) and 528 (Beachline Expressway).
The community amenities include a controlled access gate for entry, poolside Wi-Fi, a 24-hour fitness studio, and washer/dryer connections. Spacious interior floor plans include stylish one, two, three and four bedroom options.
"We are excited to add Ravenna to the high quality portfolio of affordable communities Avanath has acquired over the past several years in Central Florida. Ravenna positions us well to provide best in class workforce housing in the growing Orlando International Airport market, and it also adds to the already strong foundation we have in the Theme Park markets located near Disney, Sea World and Universal Studios," stated Royal E. Caswell III, McKinley’s Managing Director, Institutional Residential Real Estate.
McKinley, a privately-held family business, has extensive multifamily holdings throughout Central Florida including residential communities located in Daytona Beach, Orlando, Winter Park (Orlando), Hyde Park (Downtown Tampa), Gulfport (St. Pete Beach), Pasadena Beach (St. Pete Beach), Clearwater Beach and Gainesville, Florida. It is the largest residential owner/operator in the region, and most importantly, there are over 500 marvelous McKinley Team members locally on the ground in these communities, serving and delivering extraordinary customer service each and every day.
“Ravenna Apartments is a perfect addition to our portfolio of affordable apartment communities that provide homes for the growing workforce in Orlando and other communities. With our partners at McKinley, we will make enhancements to Ravenna that will improve the quality of life for our residents,” stated Daryl Carter, Chief Executive Officer.
McKinley-Avanath is actively involved in the management of affordable communities located in Dallas, Orlando, Indianapolis, Chicago, Ann Arbor, Kissimmee and Naples for its own investment platform as well as for select institutional clients.