McKinley Appointed Receiver for Multiple Assets in Pennsylvania

March 31, 2013

Ann Arbor, MI McKinley announced today it has been appointed receiver for the Pennsylvania Empirian Portfolio, which includes the three apartment home communities of Northrup Court in Coraopolis, Valleyfield in Bridgeville and Sherbrook in Wexford. These three properties are comprised of a total of 261 units.

Northrup Court Apartments offers studio, one and two bedroom apartments. The community is located within minutes of the airport and the Beaver Valley expressway, as well as Robert Morris University. Valleyfield is a neighborhood apartment community offering one and two bedroom apartments located within 14 different buildings. Sherbrook Apartments in Wexford include single-story garden style apartments conveniently located in the North Hills of Pittsburgh.

Our Midwest team mobilized immediately to meet the needs of the residents said Kenneth P. Polsinelli, Chief Real Estate Officer. We have a great track record of performance, and we are excited to be more involved in the Pittsburgh community.

We look forward to continuing our success in Pennsylvania for all of the stakeholders in this transaction while at the same time delivering superior results, shared Albert M. Berriz, McKinley Chief Executive Officer.