McKinley Announces Successful Completion of Residential Workout Assignment in Florida

January 10, 2013

Ann Arbor, MI - McKinley is pleased to announce the successful disposition of Waters Edge Apartments in Jacksonville, Florida on behalf of our valued client.

Since the January 2011 takeover of this 404 unit apartment home community, McKinley's Residential Client Services team worked consistently to make significant improvements to the propertywhileincreasing occupancy and revenues. In addition, a major underground storm water project was completed.

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.