McKinley-Avanath Expands in Michigan, Texas and Tennessee

June 2, 2013

ANN ARBOR, MI & IRVINE, CA Albert M. Berriz and Daryl J. Carter, Co-CEO's of McKinley-Avanath announced today that they have expanded their affordable housing management platform in Michigan, Texas and Tennessee with six LIHTC communities in Detroit, Houston, Dallas and Memphis.

"We have operated in Michigan, Texas and Tennessee for many years and therefore are thrilled to expand McKinley-Avanath in these markets all while continuing our efforts to bring the very best in affordable housing alternatives in all of the markets we operate, stated Berriz.

Daryl and I are passionate about our work in affordable housing, as an immigrant Cuban-American and an African American respectively, we identify, understand and know how important it is for our residents to have a positive quality housing alternative close to jobs so their families can grow and prosper," commented Berriz.

"Having an opportunity to do our work in the city of Detroit is very personal and exciting to me, shared Daryl J. Carter. I grew up in Detroit, I am a proud graduate of Cass Tech and spent much of my formative years in the downtown which was a wonderful place to be. We are honored to have an opportunity to participate in all the good work going on in Detroit and we look forward to making a difference!" added Carter.

McKinley-Avanath announced today a portfolio of six communities that has been added to its affordable housing portfolio including: Genesis Villas, Detroit; Chaparral Apartments, Dallas; Cullen Park, Houston; Eagles Landing, Memphis; April Woods, Memphis; and Harmony Woods, Memphis.

McKinley-Avanath is actively involved managing affordable communities located in Dallas, Houston, Memphis, Orlando, Indianapolis, Chicago, Pontiac, Detroit, Battle Creek and Flint/Burton for its own investment platform and for select institutional clients.