January 28, 2015
McKinley's Institutional Residential Real Estate Division is pleased to announce that it has completed the successful takeover of Ravenna Apartments on behalf of Avanath Affordable Housing II, LLC. Ravenna is a 228 unit community located in East Orlando, Florida.
Ravenna is located within minutes to dining, entertainment and shopping at Waterford Lakes Town Center, and it has excellent access to job concentrations throughout Orlando via the immediate access to State Roads 417, 408 (East-West Expressway) and 528 (Beachline Expressway).
The community amenities include a controlled access gate for entry, poolside Wi-Fi, a 24-hour fitness studio, and washer/dryer connections. Spacious interior floor plans include stylish one, two, three and four bedroom options.
"We are excited to add Ravenna to the high quality portfolio of affordable communities Avanath has acquired over the past several years in Central Florida. Ravenna positions us well to provide best in class workforce housing in the growing Orlando International Airport market, and it also adds to the already strong foundation we have in the Theme Park markets located near Disney, Sea World and Universal Studios," stated Royal E. Caswell III, McKinley’s Managing Director, Institutional Residential Real Estate.
McKinley, a privately-held family business, has extensive multifamily holdings throughout Central Florida including residential communities located in Daytona Beach, Orlando, Winter Park (Orlando), Hyde Park (Downtown Tampa), Gulfport (St. Pete Beach), Pasadena Beach (St. Pete Beach), Clearwater Beach and Gainesville, Florida. It is the largest residential owner/operator in the region, and most importantly, there are over 500 marvelous McKinley Team members locally on the ground in these communities, serving and delivering extraordinary customer service each and every day.
“Ravenna Apartments is a perfect addition to our portfolio of affordable apartment communities that provide homes for the growing workforce in Orlando and other communities. With our partners at McKinley, we will make enhancements to Ravenna that will improve the quality of life for our residents,” stated Daryl Carter, Chief Executive Officer.
McKinley-Avanath is actively involved in the management of affordable communities located in Dallas, Orlando, Indianapolis, Chicago, Ann Arbor, Kissimmee and Naples for its own investment platform as well as for select institutional clients.
January 28, 2015
McKinley’s CEO, Albert M. Berriz, recently participated on a panel during the 2015 NMHC Annual Meeting in Palm Springs, California with a team of former Continental Bank colleagues entitled “From Continental Bank to the World of Multifamily: Lessons in Leadership.”
January 27, 2015
McKinley is proud to have our Director of Commercial Operations, Jessica Furlong, join the Detroit (BOMA/Metro Detroit) 2015/2016 Board of Directors.
January 26, 2015
The list of Ann Arbor's top property taxpayers from 2014 reveals a city whose tax base leans heavily on residential and multi-tenant retail properties.
To read the whole article please click on the link below.
January 14, 2015
McKinley is proud to be a part of the great community of Ann Arbor alongside the top rated University of Michigan! Go Blue!
Read more about it on the Detroit Free Press.
December 22, 2014
McKinley is proud to announce that it's founder, Ambassador Ronald N. Weiser and Mrs. Eileen L. Weiser have made a $50 million gift to the University of Michigan. This gift will support different areas of interest significant to the couple including: International Institute in the College of Literature, Science, and the Arts; the School of Education; the Athletic Department; the U-M Health System; the University Musical Society; and the Stephen M. Ross School of Business. This gift brings the Weiser family's lifetime giving to the university to $95.9 million.
To read more about the Weiser family's generosity and their connections to the university please click the following link: http://ns.umich.edu/new/releases/22581-weisers-50-million-gift-impacts-six-university-of-michigan-units#.VJNcmnzB-t0.facebook
December 11, 2014
THIRD LAKE, IL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of Waterstone Place in Third Lake, Illinois located approximately 50 miles northwest of Chicago. McKinley was appointed Receiver of this 12,744 square foot asset on September 28, 2010 and was retained as Property Manager. During its time as Manager, McKinley executed a ten year lease with a dentist, and reduced association expenses by 50%.
“The dedicated team assigned to this asset was able to double NOI during McKinley’s time as Manager,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “These results are beyond impressive,” shared Leach.
December 11, 2014
Orlando, FL – McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful disposition of the Island One office building in Orlando, Florida. McKinley was appointed Receiver of this 55,529 square foot asset on December 12, 2012 and was retained as Manager. During its time as Manager, McKinley was able to increase aesthetics by replacing the awnings, updating the landscaping and upgrading the lobby. Property management also completed an upgrade of the energy management system.
“Our Orlando-based team was able to implement numerous changes to this property to increase the value for the disposition,” stated Lauren Leach, Director, Commercial Portfolio Management – Institutional Commercial Real Estate. “I am proud of what they were able to accomplish,” added Leach.
December 8, 2014
Missoula, MT - McKinley Institutional Commercial Real Estate (ICRE) is pleased to announce the successful workout of South Hills Retail in Missoula, Montana. McKinley was appointed Receiver of this 36,356 square foot mixed-use property on March 31, 2014. During its time as Receiver and Property Manager, McKinley initiated an upgrade of the energy management system, brought a 10,000 square foot deal with the State of Montana to the table, and reconfigured the common areas to create a more functional space for the tenants.
"The Institutional Commercial Real Estate team is pleased to have the opportunity to work out this asset on behalf of the court,"stated Lauren Leach, Director, Commercial Portfolio Management - Institutional Commercial Real Estate. "Our team was able to make a substantial impact on this asset in a very short amount of time," Added Leach.
December 8, 2014
Indianapolis, IN - McKinley is pleased to announce the conclusion of its management of Creekwood Apartments in Indianapolis, IN. McKinley took over as property manager for this 510 unit community in October of 2013. Over the last 13 months occupancy was increased from 65% to over 95% and monthly revenue increased from $148,000 to $236,000, creating significant value for our client.
"I'm pleased with the results and value creation during McKinley's tenure at Creekwood," stated Thomas Gritter, Vice President. "It was a great team effort that most importantly benefitted the residents of Creekwood," added Gritter.