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.
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.”
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.