News


June 28, 2012

MIAMI BEACH, FLORIDA McKinley is pleased to announce that the11th Judicial Circuit for Miami-Dade County, Florida,has appointed McKinley the Receiver for the former Golden Sands Hotel in Miami Beach, Florida. The Golden Sands was a 100-room oceanfront hotel constructed in 1951.

The project was slated for redevelopment as a luxury hotel adjacent to the Canyon Ranch Miami Beach development until the recent economic downturn ground the redevelopment to a halt.

The Court and all of the parties recognized McKinleys expertise at resolving complex situations and creatively producing the greatest possible value said Matthew Mason, Managing Director, Commercial Client Services. We are passionate about building upon our 44-year track record of success to provide the best outcome for all of the stakeholders.

Golden Sands represents the eighth active commercial workout property for McKinley in the state of Florida, its fourth hotel assignment and the fifty-fourth assignment in Florida.

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June 21, 2012

MOORHEAD, MINNESOTA McKinley is pleased to announce that theSeventh Judicial District for Clay County, Minnesota,has appointed McKinley as Receiver for EasTen Shopping Center. EasTen is a 125,555 square foot retail center located in Moorhead, Minnesota. The center is approximately 87% occupied and tenants include Cash Wise Foods, Sears, Payless Shoe Source, Fashion Bug and Sherwin Williams.

The addition of EasTen Shopping Center increases McKinleys commercial workout portfolio in Minnesota to 900,000 square feet.

This assignment allows us to leverage our platform and the team that we have built in Minnesota, said Matthew Mason, Managing Director, and we are looking forward to resolving another troubled asset in this community.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to create value for all of the stakeholders, added Albert M. Berriz, Chief Executive Officer.

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June 19, 2012

Ann Arbor, MI - McKinley is proud to announce the promotion of Maggie Corbin to Property Manager for JANAF Shopping Yard. JANAF is the largest asset in the McKinley commercial portfolio, and is a destination location for residents of the Hampton Roads communities.

Ms. Corbin inherits responsibility for this key asset from Diane OBrien, who is retiring in September after twenty five years of leading the team at JANAF. Maggie joined the JANAF team in April 2007 and has excelled in multiple roles. She began on the front line as a Tenant Service Coordinator insuring that our tenants had great service, and she was promoted to Property Manager for a number of smaller assets. Most recently, she has served as Property Manager on our Commercial Client Services team leading workouts for our select clientele in Indiana, Kentucky, New Jersey and Virginia. Maggie returns to JANAF to lead this team and to create value for our tenants. Maggie is incredibly familiar with the property and the tenants at JANAF, said Diane OBrien and I am excited to have her leading this team.

"Maggie has been a rising star at McKinley for several years. She lives McKinley's core values and has taken on new assignments with excellent results, stated Thomas Gritter, VP & Managing Director. She is very deserving of this promotion!"

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June 14, 2012

FLINT, MICHIGAN McKinley is pleased to announce that it has been appointed receiver for Kings Lane, a 378 unit apartment community in Flint, Michigan.

McKinley was appointed by the United States District Court, Eastern District of Michigan, Southern Division to protect the asset and to manage the community. McKinley, or its principals, has been named as Receiver over 150 times across 14 states, and this appointment represents McKinleys 50th appointment in Michigan.

We are recognized across the real estate community as a leader in resolving distressed assets, said Kenneth P. Polsinelli, Chief Real Estate Officer, and we are pleased that we are able to use our talents in Michigan in this challenging situation.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, stated Albert M. Berriz, Chief Executive Officer.

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June 7, 2012

Ann Arbor, MI - McKinley is proud to announce the promotion of Kelly Gorski to Associate Director of Operations. Kelly joined McKinley in 2005 as a seasonal Leasing Consultant and has learned the business from the ground up. In her most recent role as Community Manager, she lead her team to 7 Gold and 3 Platinum finishes competing with the other communities producing unparalleled results. Kelly has earned this opportunity through a fervent work ethic and a passionate commitment to continuous learning and development. Her commitment is further demonstrated by the increasing responsibility of her assignments over the last seven years.

Kelly has successfully completed assignments far away from her home, traveling to Orlando to lead operations at Monterey Lake & Westwood Suites. Her ability to parachute in to any location and add value immediately is invaluable. She's fearless and has complete mastery of every operational topic, having herself walked in the shoes of a Senior Sales Associate, Customers Service Manager, Maintenance Supervisor and Community Manager throughout her career. There's no facet of this business that she hasn't done personally or that she will shy away from diving right into, stat

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June 7, 2012

JACKSONVILLE, FLORIDA McKinley is pleased to announce the successful disposition of Heritage on the River in Jacksonville, FL. McKinley began managing this 301 unit apartment complex in October, 2009. Under McKinleys management occupancy increased from 70% to over 96%, well above the markets occupancy average.

McKinleys Residential Client Services team worked diligently to stabilize the community by utilizing best practices including our Zero Tolerance Policy, curing significant deferred maintenance and resolving many long-standing problems for the residents of this waterfront community. Over the last 30 months, net operating income was increased significantly resulting in a large recovery for our client.

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.

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June 4, 2012

AKRON, OHIOMcKinley is pleased to announce the successful disposition of the Fairway Retail Center in Akron, Ohio. McKinley was appointed Manager of this 11,277 square foot property in 2005. During McKinleys six and a half years of management, they were able to renew all of the tenants multiple times.


This well located retail center comprised approximately 14% of a larger commercial assembly. McKinleys Commercial Client Services team created tremendous value by resolving complicated legal issues, bifurcating the collateral, increasing income and monetizing one component of the real estate to maximize the recovery for our client.


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.

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