The McKinley Companies Completes Sale of its Retail Portfolio as part of its “100 Year Strategic Plan”July 31, 2018
Inverness, Florida - As The McKinley Companies celebrates 50 years in business, it has completed a major milestone to position its generational business for the long term with its sight on the future. After over three years of significant planning and execution, McKinley has successfully exited the ownership of all retail assets with the sale of Citrus Center, a 142,196 square foot retail center located in Inverness (Tampa), Florida.
“We have built an extraordinary real estate investment business and selling our retail assets has significantly reduced our balance sheet risk, and it has also taken us back to our roots as predominantly an all Multifamily business and now with a select portfolio of high quality investment grade NNN assets,” offered Albert M. Berriz, CEO, Co-Owner and Managing Member. “We are very pleased as we have been able to maximize sale prices and asset value in all cases in this environment as we have disposed of our retail assets, and now we look forward to our next 50 years with a fortress asset and balance sheet position,” further added Berriz.