McKinley Announces Successful Disposition of Candlewyck ApartmentsAugust 21, 2007
August 21, 2007
Contact: Mary S. Williams
734-769-8520 ext. 244
For Immediate Release
McKinley, Inc. is pleased to announce on behalf of our client Lehman Brothers, Inc. the successful disposition of Candlewyck Apartments, a 487-unit apartment community in Kalamazoo, Michigan.
During McKinleys 24 month tenure, occupancy was increased, rents were increased and significant capital improvements were made to increase value. These successful efforts also included development and execution of a strategic marketing plan that materially improved the property.
McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $1.7 billion in assets in 103 properties for its own account and for select clientele. This includes 17,223 apartments and 5 million square feet of commercial space located in 9 states. Albert M. Berriz serves as Chief Executive Officer for McKinley, headquartered in Ann Arbor, Michigan. McKinley employs 717 full-time employees nationwide.