McKinley City Beautiful Expands with Portfolio AcquisitionJanuary 26, 2016
Orlando, Florida McKinley City Beautiful, a boutique collection of historic and unique apartment communities located in the Downtown Orlando neighborhoods, continues its strategic expansion with the acquisition of a portfolio of three new communities. Delaney Park Flats, located in historic Delaney Park, and Lake Cherokee Flats and Osceola Flats, both located in the historic Lake Cherokee neighborhood provide authentic options for downtown living. These communities are walkable and bikeable to downtown and to Orlando Regional Medical Center, and they are in close proximity to vibrant dining and local shopping in downtown Orlando.
The PrivateBank is providing the acquisition and renovation financing as they have for all McKinley City Beautiful communities acquired to date. McKinley and The PrivateBank have a long, successful relationship together and they have been a core partner in McKinley's major expansion along the Interstate-4 Corridor from Orlando to Tampa/St Petersburg. "We have a unique partnership and relationship with The PrivateBank," offered Kenneth P. Polsinelli, McKinley's Chief Real Estate Officer. "They operate at our speed, they understand our business and our needs, and they share our long term vision," added Polsinelli.
All of these communities will undergo extensive renovations, including bringing all interiors to condo grade finishes with the finest materials and products. The exterior renovations will respect the historic integrity of the structures, while adding extensive amenities including outdoor dining and cooking areas, fire pits, bike and scooter parking, hammocks and lake view seating. All communities are redeveloped with an environmental focus and are smoke free living as well.
"McKinley City Beautiful in Downtown Orlando and McKinley Hyde Park in Hyde Park (Downtown Tampa) have allowed us to custom tailor living solutions for those very discerning customers that want to live in a dynamic downtown, but prefer a more secluded, quaint and historic alternative in traditional neighborhoods, as opposed to the newer high rises located in the business center downtown. As we have done in Hyde Park, each acquisition has been carefully curated to ensure that the brand delivers and exceeds expectations," offered Albert M. Berriz, McKinley's CEO.