March 16, 2016
MLive reports that the Ann Arbor Planning Commission will forward McKinley's proposed 68-unit apartment complex, known as Liberty Flats, to the Ann Arbor City Council. CLICK HERE
March 15, 2016
MLive features McKinley in an article about it's proposed $9M apartment complex on Ann Arbor's west side. CLICK HERE
March 14, 2016
CRE Radio talked Affordable Housing with Albert Berriz and Darryl Carter. Live, Interactive TV on March 11th. LISTEN HERE
March 8, 2016
McKinley is pleased to announce that it recently completed the acquisition of four NNN assets on behalf of a private client pursuant to a 1031 tax-deferred exchange. McKinley served as real estate advisor for the initial disposition, and the subsequent identification, due diligence, acquisition, financing and ongoing management of a portfolio of NNN assets that will generate a current yield while preserving favorable tax treatment.
The four properties acquired include Aspen Dental in Inverness, FL, Pei Wei and Mattress One in Winter Garden, FL, Just Brakes in Tampa, FL and Taco Bell in Orlando, FL. All leases are long-term leases in newly constructed or renovated buildings. Financing for the transactions was provided by KeyBank, N.A.
“Our team moved quickly to identify and acquire this strong portfolio of assets” offered Kenneth P. Polsinelli, Chief Real Estate Officer. “They operated within a tight timeline, with a specific target price and closed on all four assets simultaneously in just 90 days from the disposition date,” he further added.
“We were very surgical in our approach, and we were able to coordinate the exchange agent, legal review and all third party requirements for these four purchases in this compressed timeline,” said James Willett, Treasurer. “Our team has a deep understanding of the structure and complexities of the transaction, and we were well organized to deliver an exceptional result for our client,” he stated.
March 3, 2016
McKinley’s Institutional Commercial Real Estate division is pleased to announce that the Fifth Judicial Circuit Court for Lake County, Florida has appointed Matthew D. Mason of McKinley as Receiver for Shoppes of Lake Village. This 135,437 square foot grocery-anchored shopping center is located in Leesburg, Florida. Shoppes at Lake Village is 70% occupied and is home to tenants such as Publix, Bon Worth, and Mattress Firm. This property brings McKinley's total commercial managed square footage in Florida to 2,210,308.
McKinley has owned and operated in Florida since 1982, and is highly recognized for its expertise with distressed retail assets. This appointment is McKinley’s 15th current workout assignment in the state of Florida and represents the 30th assignment in the last several years.
"This takeover further cements McKinley's dominant footprint in the state of Florida,” offered Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “McKinley takes its fiduciary as a Receiver and Property Manager very seriously, and we are excited to preserve and add value to this most important asset," she further added.