McKinley Completes First Phase of Strategic Disposition Effort of Non-Core Multifamily AssetsDecember 20, 2018
Ann Arbor, Mich.- Albert M. Berriz, CEO, Board Member, Managing Member and Co-Owner, announced today that McKinley had completed the first phase of its strategic disposition effort for its non-core Multifamily holdings. The total transaction size was 1,614 units and the properties sold were located in Illinois, Indiana and Georgia. McKinley retained the partnership of Berkadia and Consortium Capital to execute this complex multi-state disposition effort, which it completed in record time.
“We are very pleased with the overall effort to date and we look forward to completing the remaining phases of our plan in 2019,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “We continue to match the disposition effort with continued growth in our core markets of Orlando, Florida and Ann Arbor, Michigan (Washtenaw County), and our expanding portfolio of investment grade NNN real estate holdings,” further offered Collison.
“This effort is an integral part of what has made McKinley a generational real estate enterprise with a fortress balance sheet, extraordinary real estate, and most importantly, amazing people that do the unbelievable every single day,” offered Berriz. “We are caring, hardworking, positive and diverse people; we work shoulder-to-shoulder in the field where EVERYTHING we do happens; we are passionate about serving (customers, colleagues, clients and partners) and being "extraordinary" is a cultural way of life!” added Berriz.