March 15, 2021
ORLANDO, FLORIDA - The McKinley Companies announced today its most recent acquisition of Positano, a 304-unit apartment community located in the Universal Orlando submarket of Orlando, Florida. Positano joins McKinley as its 11th apartment community based in the Universal Orlando sub-market and 47th apartment community that is owned and operated along the state's fastest growing region of Central Florida, the I-4 Corridor of Orlando and Tampa. Extensive renovations are planned for this very well located apartment community which are expected to start immediately. McKinley plans to undertake interior and exterior capital improvements to the community consistent with strategies successfully deployed at recently completed McKinley renovations in Orlando.
"We secured bank financing in record time from Dave Baker and our friends at KeyBank allowing us to move quickly to closing on the acquisition of Positano. It was a seamless process with the seller too," shared Jim Willett, Senior Vice President & Managing Director, Finance & Treasury.
"I am very excited to be a part of McKinley’s continued growth in the Universal Market. Our current leadership and level of experienced team members in the area has never been stronger," stated Erin Foley, Vice President, Director of Residential Operations - Florida.
"Positano's proximity to our stable assets, its beautiful amenities, and the spacious floorplans ensure it will be a welcomed addition to the portfolio. I am confident in a smooth transition and successful acquisition that will strengthen our overall footprint in this market," added Foley.
McKinley is proud to be a major employer and owner of multi-family real estate throughout Central Florida, having actively invested in the region since 1982. As one of the largest owners, McKinley is committed to the future and well-being of the region, the customers that provide us the opportunity to serve their housing needs, and the over 500 amazing Central Florida-based team members who provide exceptional customer service to its residents.