McKinley Announced Sale of Champaign Assets as part of Strategic Long-Term EffortOctober 23, 2017
Champaign, IL. - The McKinley Companies announced today the sale of three Multifamily assets located in Champaign, Illinois. These assets, along with the sale of its Office and Retail portfolio comprise a larger strategic effort to transform McKinley into a Multifamily Real Estate Platform consisting of high quality, long-term, generational Multifamily assets located in Michigan, Illinois, Indiana, Georgia and Florida.
"We carefully reviewed the entire portfolio and after a disciplined and thoughtful process, it was determined that these assets did not meet our long-term expectations and could not be characterized as truly generational assets," offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. "We are in the process of rotating this capital into high quality, investment grade, triple net assets in the short-term, and then working its way into Multifamily assets for the long-term as opportunities arise in our core markets," further offered Berriz.