McKinley Appointed Receiver for Kings Lane

June 14, 2012

FLINT, MICHIGAN McKinley is pleased to announce that it has been appointed receiver for Kings Lane, a 378 unit apartment community in Flint, Michigan.

McKinley was appointed by the United States District Court, Eastern District of Michigan, Southern Division to protect the asset and to manage the community. McKinley, or its principals, has been named as Receiver over 150 times across 14 states, and this appointment represents McKinleys 50th appointment in Michigan.

We are recognized across the real estate community as a leader in resolving distressed assets, said Kenneth P. Polsinelli, Chief Real Estate Officer, and we are pleased that we are able to use our talents in Michigan in this challenging situation.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, stated Albert M. Berriz, Chief Executive Officer.