News
January 23, 2012
Ann Arbor, MI, January 24, 2012 McKinley is pleased to announce that both Albert M. Berriz, CEO and Ken Polsinelli, Chief Real Estate Officer were elected to serve on the National Multi Housing Councils (NMHC) Board of Directors during its recently held annual meeting January 17-19, 2012, in Boca Raton, FL.
Albert M. Berriz is Chief Executive Officer, board member and shareholder of McKinley. Mr. Berriz has extensive experience in the acquisition, financing, management and redevelopment of real estate assets. He is responsible for acquiring and managing assets in excess of $7.0 billion during his career.
Kenneth P. Polsinelli is Chief Real Estate Officer, shareholder and a member of the ExecutiveCommittee. During his tenure McKinleys portfolio has increased more than 50% in its target markets. He has acquired, financed or disposed of over $2.0 billion of real estate assets across the Midwest and Southeast.
"Ken and I both look forward to working with the National Multi Housing Council in the future and feel thatour broad experience and knowledge of the multifamily market can only add to the broad wealth of experience on the NMHC Board, commented Albert Berriz, CEO of McKinley. Doug Bibby has a terrific leadership team and we look forward to working with him and the board.
January 16, 2012
NORFOLK, VIRGINIA McKinley is pleased to announce that JANAF, an 883,000 sq ft shopping center in Norfolk, Virginia has been selected for the 2011 Best of Norfolk Award in the Shopping Centers & Malls category by the US Commerce Association. The USCA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country each year.
The staff at JANAF, led by Diane O'Brien, is exceptionally well deserving of this honor!JANAF Shopping Center is in pristine condition every day and it is due to the wonderful efforts of the JANAF management team, states Thomas Gritter, Vice President and Managing Director Commercial Real Estate.
For more information on McKinleys Commercial Client Services and Property Management, please contact Thomas Gritter at 734-769-8520 x 289.
January 15, 2012
ORLANDO, FLORIDA McKinley is pleased to announce it has completed renovations on Riva Apartments. McKinley had originally purchased over half of these units as fractured condominiums in December, 2007. After acquiring the remaining units in April, 2010 McKinley was able to reconstitute the property as a garden rental apartment community. They have since executed a multi-million dollar renovation lead by Bob Hughes, Regional Facilities Director-Project Manager to better improve the quality of life for its current and future residents.
Renovations for Rivas exterior include:
significant architectural and aesthetic modification and enhancement
total asset seal and modernized color scheme repaint
replaced patio decks and landings
screened in patios
irrigation and re-landscaped
upgraded parking lot lighting
roofing and gutters
resurface and restripe parking lot
new signage
new flag poles
upgraded utility/meter structures
|
About McKinley Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily real estate. Currently ranked #38 in the NMHC Top 50 list of national apartment management companies, McKinley owns and manages more than 33,000 units throughout 20 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as a select clientele of institutional investors, private equity clients and special servicers. McKinley is a member of the National Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO). http://www.mckinley.com |
January 12, 2012
Ann Arbor, MI January 13, 2012 Albert M. Berriz, CEO of McKinley, will be speaking next Tuesday at the National Multi Housing Council (NMHC) Apartment Strategies Outlook Conference held at the Boca Raton Resort and Club in Boca Raton, Florida. This panel will explore and highlight several key areas relating to multifamily financing including:
- Deal structures in todays market
- Key equity and debt capital sources
- Return expectations
- Cap rates
- Investment strategy
- Liquidity needs
- Competition for product by type and competitor
Speakers on the panel also include moderator Scott Anderson, Senior Director, Head-Multifamily Real Estate Asset Management, TIAA-CREF Global Real Estate; Brad Blash, Chief Business Officer, Crossbeam Holdings LLC; Ed Padilla, Chief Executive Officer, NorthMarq Capital, Inc.; and Michael Tompkins, Managing Partner, TriBridge Residential. The panel will take place from 9:30 am to 10:45 am.
January 9, 2012
MIAMI, FLORIDA McKinley Residential Client Services is pleased to announce that it has commenced management at Rio Apartments in Miami, FL. Rio Apartments consists of 294 units and is approximately 96% occupied.
We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.
For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x 230.
January 8, 2012
STERLING HEIGHTS, MICHIGAN McKinley is pleased to announce that it has been retained as the property manager and asset manager for Marketplace Court, a 258,416 square foot retail shopping center in Sterling Heights, Michigan. The center is approximately 80% occupied and tenants include Target, MJR Theater, and Ruby Tuesdays. Marketplace represents the 16th active commercial workout property in Michigan.
We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.
For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.
December 27, 2011
VIRGINIA McKinleys Residential Client Services is proud to announce the successful disposition of Chelsea Point and Vacaro Apartments, which are the final two assets included in the Bethany Portfolio. The Bethany Portfolio consisted of 11 properties totaling 2,904 units in three states. McKinley commenced management on all 11 assets in March of 2009 and immediately began creating value.
Chelsea Point Apartments is a 196 unit multi-family complex located in Portsmouth, VA. During McKinleys time there, occupancy was increased from 54% to more than 96%.
Vacaro Apartments is a 208 unit complex in Chesapeake, VA. At the time of takeover occupancy was 58%, which McKinley increased to over 93% during their time at the property.
We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders, states Albert M. Berriz, Chief Executive Officer of McKinley.
For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.
December 21, 2011
ANN ARBOR, MI McKinley is pleased to announce that Kristin A. Berg has joined McKinley as VP & Managing Director of Residential Asset Management. Kristin was formerly Director, Multifamily Asset Resolution for Freddie Mac, where she led a loss mitigation team that successfully executed proven workout and disposition strategies for a $1B high risk loan portfolio.
We are thrilled to have Kristin join our executive team, said Kenneth P. Polsinelli, Chief Real Estate Officer. She is one of the most talented real estate professionals
I know, and I know that our clients and our team members will benefit greatly from her contributions. Her focus on value creation is a perfect fit with our culture and results.
Kristin represented Freddie Mac in the Mortgage Bankers Association (MBA) working group that established the loan servicing industry best practices for inspecting commercial properties, documented in a white paper. The group developed the universal property inspection form, now used by the majority of commercial loan servicers. In conjunction with these efforts, Kristin took an active role in creating the curriculum for and teaching the MBAs Property Inspection Training, a requirement for inspectors of Fannie Mae or Freddie Mac properties.
During her 20 year career at Freddie Mac, Kristin personally resolved hundreds of distressed loans and was instrumental in building a national network of property managers and brokers to facilitate the disposition of over 250 REO assets. She had a variety of roles that included risk management, policy and process redesign. Kristin was a member of the team that launched the Multifamily Divisions first mentoring program and a regional leader of the book club. She was awarded a Certificate of Appreciation from the Consortium for Housing and Asset Management, the educational arm of the nonprofit Enterprise Community Partners, Inc., for supporting the effort to develop their advanced certification program.
Kristin graduated with Honors from the University of Chicago with a BA in Humanities. She also holds an Illinois Real Estate Brokers license.
Having worked with McKinley for years as a client, I am delighted with the opportunity to join this high-powered group whose possibilities are limitless in the world of real estate, stated Kristin A. Berg, VP & Managing Director of Residential Asset Management.
ANN ARBOR, MI McKinley is pleased to announce that Kristin A. Berg has joined McKinley as VP & Managing Director of Residential Asset Management. Kristin was formerly Director, Multifamily Asset Resolution for Freddie Mac, where she led a loss mitigation team that successfully executed proven workout and disposition strategies for a $1B high risk loan portfolio.
We are thrilled to have Kristin join our executive team, said Kenneth P. Polsinelli, Chief Real Estate Officer. She is one of the most talented real estate professionals
I know, and I know that our clients and our team members will benefit greatly from her contributions. Her focus on value creation is a perfect fit with our culture and results.
Kristin represented Freddie Mac in the Mortgage Bankers Association (MBA) working group that established the loan servicing industry best practices for inspecting commercial properties, documented in a white paper. The group developed the universal property inspection form, now used by the majority of commercial loan servicers. In conjunction with these efforts, Kristin took an active role in creating the curriculum for and teaching the MBAs Property Inspection Training, a requirement for inspectors of Fannie Mae or Freddie Mac properties.
During her 20 year career at Freddie Mac, Kristin personally resolved hundreds of distressed loans and was instrumental in building a national network of property managers and brokers to facilitate the disposition of over 250 REO assets. She had a variety of roles that included risk management, policy and process redesign. Kristin was a member of the team that launched the Multifamily Divisions first mentoring program and a regional leader of the book club. She was awarded a Certificate of Appreciation from the Consortium for Housing and Asset Management, the educational arm of the nonprofit Enterprise Community Partners, Inc., for supporting the effort to develop their advanced certification program.
Kristin graduated with Honors from the University of Chicago with a BA in Humanities. She also holds an Illinois Real Estate Brokers license.
Having worked with McKinley for years as a client, I am delighted with the opportunity to join this high-powered group whose possibilities are limitless in the world of real estate, stated Kristin A. Berg, VP & Managing Director of Residential Asset Management.
December 20, 2011
KANNAPOLIS, NORTH CAROLINA McKinley is pleased to announce that the County of Cabarrus has appointed McKinley as receiver for Northlite Commons in Kannapolis, North Carolina. This 23,000 square foot retail building is a Wal-Mart shadow anchor shopping center.
We are excited to have the opportunity to apply our proven track record of success to assist with these assets. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.
For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.
December 15, 2011
ANN ARBOR, MI McKinley is pleased to announce that Colliers International signed a 6 year lease to occupy 2,408 square feet at the McKinley Towne Centre. Colliers International provides commercial brokerage and other real estate services to its customers. Colliers has two other offices in Michigan, one in Southfield and another in Grand Rapids.
Were delighted to have Colliers at MTC, Stated Thomas Gritter, Vice President& Managing Director, Commercial Real Estate. Colliers has been a great partner of McKinley for many years and were super excited to have them as a tenant.
For more information on McKinley Towne Centre, please contact Thomas Gritter at 734-769-8520 x 289