McKinley Institutional Commercial Real Estate One Million SF Florida TakeoverSeptember 24, 2015
FORT MEYERS, FL. – Matthew D. Mason, Managing Director & Partner, Institutional and Owned Commercial Real Estate, announced today that the Twentieth Judicial Circuit Court for Lee County, Florida, has appointed McKinley as the Receiver for Gulf Coast Town Center. This 1,048,861 square foot, 30-building shopping center was built in 2005 and is located in Fort Myers, Florida. Gulf Coast Town Center is home to tenants such as Bass Pro, JC Penney, Marshall's, LA Fitness, Babies-R-Us, Home Goods, and Belk.
"We have distinguished ourselves as workout operators for very large and very complex assignments, and this opportunity for our Institutional Commercial Real Estate Team is a perfect example of an assignment that is in our sweet spot" offered Mason during the announcement today. "When you couple the complexity and size with our over 33 year proven track record owning and operating assets throughout Florida, this opportunity is perfectly suited for our team. A large takeover like this takes a very unique and special team, and extraordinary resources on the ground and in the market, all of which we have" Mason added.
McKinley has been an owner operator of Commercial and Multifamily assets throughout Florida since 1982. It currently owns and operates over $2.0 Billion in total assets throughout the state, and Florida has become the largest portfolio concentration for the entire real estate enterprise.
"We understand Florida, we live it and we operate assets at an extraordinary level delivering alpha along the Interstate 4 Corridor and the Interstate 75 Corridor every day" offered Ken Polsinelli, McKinley's Chief Real Estate Officer and Partner. "We have over 600 full time team members on the ground in Florida, a formidable cadre of vendors and suppliers than have been with us for years, and senior management with over three decades of experience in these markets, which enabled up to execute differently than our competition" Polsinelli added, who also leads McKinley's Florida office in Winter Park, Florida.