March 29, 2012
ANN ARBOR, MICHIGAN McKinley acquires Ironwood blocks from the University of Michigan's new Venture Accelerator and its North Campus. Ironwood is contiguous to Traver Ridge a 210 unit community McKinley owns, and both communities will be merged and operated as Traver Ridge going forward. This 100 unit acquisition adds to the 5,231 unit platform that McKinley owns in the Ann Arbor region.
"Ann Arbor is our home town and where our business was started in 1968. We are excited to welcome Ironwood to the McKinley family and further expand our holdings on the vibrant north side of town with all the great things UM is doing there" said Albert M. Berriz, CEO of McKinley.
"We are always exploring ways of opportunistically expanding in our core markets of Ann Arbor and Central Florida" said Ken Polsinelli, Chief Real Estate Officer, "and Ironwood is a perfect example of that opportunistic expansion."
McKinley plans to integrate both communities via walking trails and to serve residents of both communities out of the Ironwood community center. Ironwood has spacious one, two and three bedroom apartment homes that will complement the living choices now available at Traver Ridge. For leasing information regarding Traver Ridge contact 734-761-3325.
GAINESVILLE, FLORIDA McKinley is proud to announce that it has acquired Windmeadows located in Gainesville, Florida. Windmeadows is a 323 unit luxury community located close to Shands Medical Center at the University of Florida. This transaction is a classic tertiary market acquisition by McKinley in a formidable college town with a significant employment base.
Gainesville matches up nicely with our investments in Ann Arbor, Michigan and Champaign, Illinois, and we strongly believe in Shands Medical Center, The University of Florida, and of course Central and Northern Florida said Albert M Berriz, CEO of McKinley.
Windmeadows offers a diverse array of newly renovated apartment homes conveniently located just minutes from Shands and the Heart of Gainesvilles thriving retail corridor said Ken Polsinelli, Chief Real Estate Officer.
McKinley owns 5,000 units between Orlando, Tampa, St. Petersburg, Clearwater Beach, Daytona Beach and now Gainesville, and operates over 12,000 units throughout Florida Like Ironwood, Windmeadows is an opportunistic play to expand in our core markets said Ken Polsinelli, Chief Real Estate Officer.
March 28, 2012
Ann Arbor, MI McKinley is proud to announce the promotion of Nate Lewis to VP Real Estate Transaction Services. Nate joined McKinley in 2006 and was promoted to AVP Real Estate Transaction Services in December, 2010. In the last two years Nate has had made great contributions to the success of the McKinley Enterprise. With this promotion, he will elevate his involvement in all aspects of deal making and complex transactions.
Nate Lewis is not only an exceptional executive in his role in charge of all transactions, he is also respected by many and I am constantly receiving amazing feedback from lenders, service providers, friends, and clients about Nate, stated Albert M. Berriz, CEO McKinley.
Nate has closed over $1 billion of complex real estate transactions including acquisitions, dispositions, and refinancing. Additionally, he is a brilliant example of McKinley Core Values and he lives our Core Purpose every single day.
March 28, 2012
HENDERSON, NEVADAMcKinley is pleased to announce that it has been retained as the property manager and asset manager for Black Mountain Marketplace, a 44,373 square foot retail center in Henderson, Nevada. Henderson is an affluent suburb adjacent to LasVegas. The neighborhood shopping center is 79% occupied and tenants include PTs Pub, Saxbys Coffee, and Tropical Smoothie Caf.
We are excited to continue our commercial expansion into Texas, Nevada and Arizona. We have positioned seasoned, experienced and capable McKinley executives on the ground in these markets ready to provide superior execution that we are well known for as an enterprise, states Albert M. Berriz, Chief Executive Officer of McKinley.
Matt Mason as Managing Director of commercial client services leads the expansion and Joel Evans, now based in Scottsdale, Arizona, directs the Property Management effort. We have placed one of the best and brightest leaders in the position to lead our western expansion. Mason continued, We appreciate the opportunity to make a meaningful difference on behalf of our stakeholders and we look forward to significant growth in the Las Vegas market.
March 28, 2012
WEST PALM BEACH, FLORIDA McKinley is pleased to announce that theFifteenth Judicial Circuit Court for Palm Beach County, Floridahas appointed McKinley the Receiver for a redevelopment project in West Palm Beach, Florida. The 2.2 acre project, which was slated for redevelopment into a high-end 224 unit condominium project, also includes a 24,018 square foot office building.
We are excited to have the opportunity to apply our proven track record of success to assist with this most important asset. Im confident that by applying our teams passion and expertise, we will be able to create value for all of the stakeholders, stated Albert M. Berriz, Chief Executive Officer.
McKinley has been actively involved in Florida since 1982 and has over 500 full time team members operating in over 12,000 multi-family units as well as major office and retail assets throughout the state. Major geographic concentrations include Miami, Fort Lauderdale, West Palm Beach, Fort Myers, Orlando, Tampa, Gainesville, Jacksonville, Tallahassee and Pensacola.
Florida is our single largest market states Ken Polsinelli, Chief Real Estate Officer. We have seasoned players in position that have been with us 10, 20 and 30 years on the ground, doing great things adds Polsinelli.
March 26, 2012
INDIANAPOLIS, INDIANA McKinley is pleased to announce that Recreational Equipment, Inc. (REI), the nation's largest consumer co-op, has opened its first location in the state of Indiana at Castleton Shopping Center in Indianapolis. This is one of only 8 store openings nationwide in 2012. REI offers an unparalleled selection of outdoor gear and apparel for sporting enthusiasts. REI's 23,800 sf store will join Paradise Bakery, Buffalo Wild Wings, Sola Salon and many other tenants at Castleton. They are the most recent addition to this thriving retail corner which also includes Haverty Furniture and Dave and Busters at Castleton Commons all of which enjoy McKinley's ownership and professional management. REI will further enhance this shopping destination in Castleton at I-465 and Allisonville Road.
Were absolutely thrilled to have REI open up at our Castleton Shopping Center. REI is a first class retailer in all aspects and theyre already proving to be an excellent addition to Castleton! stated Thomas Gritter, Vice President and Managing Director Commercial Real Estate.
March 25, 2012
ROYAL OAK, MICHIGAN McKinley is pleased to announce the successful disposition of Royal Oak Estates in Royal Oak, Michigan. Royal Oak Estates is a boutique 87-unit apartment community that was facing severe distress when McKinley began managing the asset in June 2011. The McKinley team immediately engaged with residents and implemented best practices to stabilize the community and to improve performance. During McKinley's tenure, occupancy increased to over 96% and collections increased by over 30%. More importantly, the apartment community was transformed from distressed to desirable and the residents have a better quality of life that also produced a successful resolution for our clients.
We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.
March 20, 2012
Thank you to everyone who participated in the Eureka Road/Leroy Street clean up today. Besides be able to give back to the City of Taylor and assisting in cleaning up our section of Taylor BOY DOES OUR MARKET WINDOW LOOK GREAT NOW! Thank you Team Taylor. You have once again demonstrated that you not only want our communities to be the best they can be, but the Taylor Community to be the best it can be!
You all ROCK-N-ROLLED today! Thank you!
March 19, 2012
McKinley Responds to flash floods at Park Place in Ann Arbor, MI.http://www.annarbor.com/news/flooded-ann-arbor-apartments-will-be-fully-repaired-in-three-to-four-weeks-residents-offered-other-u/
March 7, 2012
We had a very serious fire at our Champaign House community on Saturday. Fortunately, there were no injuries and our team reacted magnificently! Jonathan Merkles response to this ordeal, both at the time of the fire and its aftermath, was truly exceptional.
The sequence of events is worth sharing because its an outstanding example of how to react to such a crisis.
Two of our buildings were evacuated as the Fire Department responded. Jonathan and other staff members arrived immediately and remained onsite to communicate with our residents during the three and a half hours it took the Fire Department to complete their operations. During this time, Jonathan worked with the American Red Cross and a local hotel to secure accommodations for two displaced families. Once the fire was extinguished and the smoke was cleared, Jonathan and his team ensured the safety and comfort of the evacuated residents by inspecting each apartment in the affected building for possible carbon monoxide build up, smoke damage, and potential electrical hazards.
After the chaos subsided, Jonathan took pictures of the damage and sent Jeff Ball, Albert, and myself a detailed report of the incident, and its scope of impact on the community. Later in the evening he cooperated with the investigator to gather information on the cause of the fire.
In the aftermath of the fire, Jonathan continued to follow-up with the displaced residents. He communicated with the residents insurance company so that our maintenance team could coordinate with them to secure and care for valuables left in the damaged apartments. Within 24 hours, Jonathan met again with one of the displaced families to create a solution for their housing needs by arranging a transfer to our Westbury Townhomes community. Just today, when this family mentioned they were unhappy with their insurance companys choice for temporary accommodations, Jonathan helped with recommendations for alternate hotels with suites.
Despite a very challenging week, the team continues to focus on basic operations: leasing apartments, executing turns, onboarding new team members, renewing leases, and completing work orders. Many thanks to Jonathan and his team for all the professionalism, patience, and care they have shown our residents in Champaign this week!
March 7, 2012
FORT WAYNE, INDIANAMcKinley ispleased to announce that it has beenretained as the property manager and asset manager for Park 3000, a 76,175 square foot office building in Fort Wayne, Indiana. The building is fully leased and occupied by Brown Mackie College,a 27 campus national college specializing in nursing, business and technology, legal studies, and veterinary technology. "We have exceptional McKinley team members in position throughout Indiana and know it very well, having been in that market since 1982," said Matt Mason, Managing Director Commercial Client Services. "We are confident we will add significant value to our client, Brown Mackie College, and the Fort Wayne community, and we are thrilled for this opportunity" Mason goes on to say.
McKinley has significant multi-family and commercial holdings in Indiana, as well as a significant management portfolio for its select institutional clientele. We appreciated the opportunity to be involved in the management of this asset on behalf of all of the stakeholders, states Albert M. Berriz,Chief Executive Officer of McKinley.
For more information regarding McKinley Client Services please contact Kenneth P. Polsinelli, Chief Real Estate Officer at734.769.8520ext. 230.