March 28, 2018
Ann Arbor, Michigan - McKinley announced today the successful closing of a $50,850,000 10-year structured financing with CIBC for its Owned NNN Portfolio. The 10-year loan offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio into the future. McKinley’s NNN portfolio consists of absolute triple net leases with newly constructed buildings and investment grade tenants with long lease terms in premiere locations.
“We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade,” offered Jim Willett Senior Vice President & Managing Director – Finance. “This is particularly important for us in a rising rate market. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett.
The portfolio consists of exceptional assets mostly with investment grade tenants in place located in growing markets throughout Florida, Georgia, South Carolina and Michigan. “We are familiar with these markets and have a long history of investment in these regions,” added Willett. “These are quality tenants in growing markets that will meet the needs of their customers for decades.”
March 15, 2018
MLive.com covers Ann Arbor's newest apartment and retail complex, The George. To read more Click Here
March 12, 2018
The Lifetime Cash Flow Through Real Estate Investing Podcast hosted by Rod Khleif features McKinley's own CEO Alber M. Berriz. To listen CLICK HERE
March 9, 2018
ORANGE CITY, FLORIDA - McKinley acquires KFC located in Orange City, Florida, as it continues to exit from retail real estate and migrates into an all Multifamily platform along with a select portfolio of high quality investment grade NNN leases.
KFC on Saxon Blvd is located in a robust retail corridor surrounded by major retailers such as Target, Walmart, Publix, Home Depot and Lowe’s across from the Florida Hospital Fish Memorial. The corridor traffic is bustling with activity situated conveniently nearby I-4. Orange City is the center of economic activity in Southwest Volusia County part of the Interstate 4 corridor that serves the growing metropolitan areas located between Orlando and Daytona Beach.
Comerica Bank provided acquisition financing for this specific transaction as it has been doing for McKinley as part of a major loan facility provided for McKinley’s NNN acquisition effort. “This is an excellent NNN asset that we have added to our portfolio,” offered Jim Willett Senior Vice President & Managing Director – Finance. “It’s also located in our core I-4 Corridor concentration which makes it a natural choice for us,” added Willett.
March 2, 2018
Hyde Park, Florida - The McKinley Companies announced today the closing of $18,900,000 in long-term financings with KeyBank and Fannie Mae for the last of its Hyde Park Boutique Multifamily holdings located in Hyde Park, Downtown Tampa, Florida. The 15 year financings were originated by KeyBank, and they represent the next part of an approximately $200 million pipeline in similar financings that McKinley began with KeyBank and Fannie Mae over the past six months.
“We have worked diligently to lock up all of our Multifamily debt going into this rising rate market,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We have only a few financings remaining to complete and then we will have all of our Multifamily debt fixed with either 15 or 35 year terms,” further added Willett.
Beach Flats - A collection of historic homes in exuberant hues of heritage colors reminiscent of Charleston’s rainbow row, Beach Flats offers residents the authentic beauty of preserved colonial architecture with grand staircases, ornate fire places and original hardwood floors with newly upgraded kitchens and bathrooms. Residents can relax in rocking chairs on the wraparound porches or enjoy company at the center gathering area lounge, fire pit and grill space. Beach Flats is centrally located between Historic Hyde Park and Downtown Tampa, a block from Bayshore Blvd and direct access to Tampa General Hospital.
Carlyle Flats – The newly renovated Carlyle Flats classic block building designed in stylish muted colors, pays tribute to the Miami Art Deco scene. Residents enjoy newly upgraded apartment interiors with a gated community, poolside wine bar and outdoor entertainment space, fire pit lounge, ample bike storage, and a fully equipped dog wash station. Carlyle Flats is conveniently located across from Publix Greenwise in the heart of Hyde Park with easy access to Kennedy Blvd.
Ivy Flats – Ivy Flats offers a sophisticated, distinctive character on the elegant cobblestoned street of W Estrella across from the Palma Ceia Golf & Country Club. Ivy Flats offers residents luxurious newly remodeled apartments with spacious open concept kitchens and hand-selected finishes. Located in the Palma Ceia neighborhood and within walking distance to foodie favorites such as Cru Cellars, Datz and Ciccio’s, Ivy Flats offers quintessential boutique living at its finest.
Willow Flats – Willow Flats offers a rustic refined farmhouse community with all the comforts of boutique living. Residents will feel at ease alongside the manicured grass landscaping, DIY community garden, secluded bamboo fire pit space, bocce ball court under Italian lights, and custom grill & picnic wine bar. Residents enjoy a gated community with an extra-large enclosed dog park and enclosed bike parking. Willow Flats is located in the highly sought after residential neighborhood of Hyde Park, adjacent to Mitchell Elementary School, nearby 5-star dining options such as 4 Rivers Smokehouse and Daily Eats, with convenient access to Kennedy Blvd.
Schoolhouse Flats – The quiet and established residential neighborhood is a welcome background to the stunning and elegant, newly remodeled 1924 building built with the quaint charm and character of an old schoolhouse building accented with terra cotta. With ample parking and an unbeatable location next to the high-end shopping at Hyde Park Village, sophisticated gathering place at the Oxford Exchange, and James Beard creative eateries such as Edison Lab, Schoolhouse Flats is a rare gem cozily nestled in the Hyde Park boutique lifestyle.
McKinley’s Hyde Park Boutique portfolio is part of its larger Central Florida Multifamily portfolio which extends along the entire Interstate 4 Corridor and includes Daytona Beach, Winter Park, Orlando, Gainesville, Hyde Park, South Tampa, Tampa, Clearwater, North Redington Beach, South Pasadena and Gulfport, Florida. McKinley today is the largest Multifamily owner operator in the region having been in Central Florida actively since 1982.
February 28, 2018
Ann Arbor, Michigan - McKinley, Inc., one of the nation’s largest residential and commercial real estate development companies, has called upon Washtenaw Community College to help train building maintenance professionals for employment at the company’s apartment and housing units around the Ann Arbor/Ypsilanti area.
Applicants are sought to fill a three-week paid Maintenance Apprenticeship Program that begins on Monday, April 16. The training program was designed by the WCC Workforce Development department and will be led by WCC instructors on-site at McKinley.
Those selected to join the program will transition into a maintenance tech role with McKinley upon successful completion. The starting wage for the positions is approximately $13.50 per hour, plus a generous benefits package for those who meet minimum qualifications.
“McKinley is excited to join with Washtenaw Community College for our Maintenance Apprenticeship Program,” said Will Epps, Associate Vice President of Operations at McKinley. “This partnership will allow us to cultivate and grow talent in our workforce and, at the same time, give back to our community that we are invested in by providing education and careers.”
Those interested in joining the program should attend one of three informational sessions at the Glencoe Hills Apartments clubhouse, located at 2201 Glencoe Hills Drive in Ann Arbor.
The two-hour informational sessions will be held on Monday, February 26 (10 a.m. to noon), Wednesday, March 7 (noon to 2 p.m.) and Monday, March 12 (2 to 4 p.m.). Each session will cover “A Day in the Life of a Building Maintenance Professional,” including a video presentation, a panel of industry experts, a tour of a McKinley property and details on compensation and benefits.
The program includes 20 hours of WCC instructor-led classes per week that will focus on grounds maintenance, appliance repair, drywall installation and patching, basic plumbing and electrical repair and painting.
“Our Workforce Development team has put together 60 hours of professional-level classroom instruction that we’re eager to take out to McKinley properties,” said Niko Dawson, WCC’s Dean of Economic and Community Development. “We believe we’ve put together a program that will develop the solid roster of maintenance professionals that McKinley needs to provide high-quality maintenance services to its residents and give job seekers in our community a jumpstart to finding a long and successful career.”
Any interested candidate:
Must be 18 years old or able to obtain a work permit.
Must have access to a vehicle and have a valid driver’s license
Does not use illegal drugs and must pass a drug screen and background check
Must have good fine motor skills, like using hand/power tools and have the willingness to learn on the job
Must enjoy providing excellent customer service for community members
Must adhere to McKinley dress code policies, which does not allow visible tattoos or piercings
“We had about 15 people show up for the first informational session on Monday at Glencoe Hills. Candice Thom, our Recruiting Manager has put this whole program together start to finish” further added Betsy Berriz, Vice President, Owned Residential.
For more information or to ask questions about the Maintenance Apprenticeship Program, contact a program representative at 734-747-2936.
February 28, 2018
MLive.com features McKinley and Washtenaw Community College as they team up to help train building maintenance professionals for employment at the company's apartment and housing units around the Ann Arbor and Ypsilanti area. READ MORE
February 28, 2018
Crain's Detroit Business features McKinley and Washtenaw Community College as they team up on a three-week apprenticeship program set to begin in April.http://www.crainsdetroit.com/article/20180227/news/654001/mckinley-teams-with-washtenaw-community-college-to-train-maintenance READ MORE
February 14, 2018
McKinley acquires Walmart NNN lease located in DeBary, Florida, as it continues to exit from retail real estate and migrates into an all Multifamily platform along with a select portfolio of high quality investment grade NNN leases.
Debary on the northern shore of the St Johns River is the gateway to southwestern Volusia County with direct access to I-4 and US Highway 17/92 and serves as a corridor between Orlando, Sanford and Daytona Beach. The newly built 41,117 square foot Walmart is located with easy access to I-4 directly off of US-17 in a primary commercial corridor, minutes away from Central Business District of West Volusia County.
Comerica Bank provided acquisition financing for this specific transaction as it has been doing for McKinley as part of a major loan facility provided for McKinley’s NNN acquisition effort. “This is another excellent investment grade NNN asset that we have added to our portfolio,” offered Jim Willett Senior Vice President & Managing Director – Finance. “It’s also located in our core I-4 Corridor concentration which makes it a natural choice for us,” added Willett.
January 26, 2018
The McKinley Companies announced today the acquisition of the Pizzeria UNO NNN investment located at 8250 International Drive, Orlando FL, in the heart of the Orlando Theme Park Tourist Commercial corridor, and just a short distance to the Orange County (Orlando) Convention Center. The property which consists of 9,589 square feet on 2.16 acres is an extraordinary long-term investment, and is in close proximity to all of McKinley’s Multifamily holdings in the Orlando Theme Park market.
McKinley secured acquisition financing with Comerica Bank, N.A., one of McKinley’s most trusted and long-term banking relationships. Comerica has provided McKinley with a significant debt facility for its NNN acquisitions which includes the recent acquisition of the Fifth Third Bank NNN investment located in Windermere (Orlando), Florida, the Walmart NNN investment located in Grand Rapids, Michigan, and the SunTrust Bank NNN Investments in Gainesville and Lakeland, Florida. “This trophy location is truly an extraordinary addition to our NNN investment portfolio,” offered Jim Willett Senior Vice President & Managing Director – Finance. “We acquired an outstanding property that is sitting in an exceptional location,” added Willett.