McKinley Institutional Commercial Real Estate Announces Successful Disposition

December 19, 2013

Ann Arbor, MI McKinley is pleased to announce that the Institutional Commercial Real Estate group has completed another successful workout for our valued client. The Property, Southgate USA, is a 788,130 square foot shopping center in Maple Heights, Ohio. McKinley was appointed as Receiver on April 9, 2009 and later retained as property manager.

During McKinleys time managing the Property, over $18 million in new leasing, renewals and expansions were executed, numerous capital improvements throughout the Property were completed, operating costs were reduced, occupancy was increased and the appearance of the Property was improved.

This was a terrific opportunity for my team to demonstrate our value creation expertise, stated Matthew D. Mason, Managing Director, Institutional Commercial Real Estate. We were thrilled to have the opportunity to work out this asset on behalf of our important client, and are very pleased to announce this successful disposition on their behalf, shared Mason.