News


October 10, 2018

McKinley Companies is excited to announce the award of a new real estate advisory services assignment in East Lansing, Michigan.  This student housing portfolio consists of three assets totaling 429 beds.  The locations are walkable to the main campus of Michigan State University and to all the redevelopment occurring on Grand River Avenue. 

 

The Tower at Campus View is a seven-story, 234 bed community offering on-site parking, heated outdoor pool and terrific fitness facility.  Unit styles are large formats and range from studios to 3 bedrooms.  The Manor at Campus View is a 56 bed community with various 4 bedroom floor plans.  The Gates at Campus View has 139 beds in two unit types – 2 bedroom and 4 bedroom – each with in-unit washers and dryers.

 

“These locations are phenomenal and in the middle of everything going on in East Lansing” remarked Royal Caswell, SVP and Managing Director of McKinley Companies.  “The owner is a California-based student housing investor who we know well.  McKinley continues to grow its third party management business with clients who appreciate our operating philosophies and in locations we know well“ offered Caswell. 

 

Since 2001, McKinley has operated 65,000 units of multi-family and 25 million square feet of commercial space for select clientele, including over 250 court ordered receiverships.  Residential asset classes range from traditional market-rate garden style apartment communities, to low/moderate income (Section 8 and Section 42 LIHTC) housing, to senior housing, and to student housing.  Commercial asset classes include retail, office, and industrial. 

 

For more information on real estate advisory services available with McKinley Companies, please contact Royal Caswell at rcaswell@mckinley.com or (734) 389-8387. 

 

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August 30, 2018


MULTI-STATE - As McKinley Celebrates 50 years in business, our company has strategically shifted our focus to what the next 50 years look like. McKinley has implemented three key efforts to position our generational business for the long term and to bring us "back to our roots"with our sights on the future:
 
1.) McKinley has sold the majority of our retail and office holdings to once again become primarily a Multifamily platform. In doing so, we have also added a new asset class to the McKinley Companies, a quality investment grade NNN portfolio. Going back to our Multifamily roots as a business strategy has had many positive attributes on many levels, allowing our people, who are extraordinary at Multifamily to focus their abilities and drive the business to where it needs to be.
 
2.) McKinley has refinanced our Multifamily holdings with long-term debt at historically low interest rates. McKinley fully expects to have those mortgages paid off over time, and our currently low-leveraged business becomes free and clear. With this objective, we have built a fortress balance sheet along with extraordinary assets and cash flow that will fuel the future into the next 50 years.
 
3.) The last phase of the effort is to sell select Multifamily holdings that are not located in our core markets of Washtenaw County - Ann Arbor/Ypsilanti (since 1968) and Orlando/Hyde Park in Tampa (since 1982). The Washtenaw County and Central Florida core markets are where our people work and live. McKinley knows these markets the best, and the majority of our assets will still sit in these core markets after this sale. While this offering is large by industry standards, the sale is still only a fraction of what McKinley owns as an enterprise.
 
"While we never sell assets, particularly exceptional assets like we are offering in this sale, Ron Weiser, our Founder, and I have spent much time contemplating and planning what the McKinley Companies looks like as a generational business for the next 50 years. We are pleased that not only have we built an exceptional business, but we have made the right moves to position our generational business through 2068, our 100th anniversary,"stated Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.
 
"We have selected the team of Berkadia led by Ernie Katai, and Consortium Capital, LLC, led by Harry Collison, to lead the sales effort. We have deep roots with both organizations dating back over 30 years, and we are very confident that they will do a terrific job with the sale of these extraordinary assets," added Berriz.
 
For more information about the McKinley Multifamily offering, please check out:

http://mckinleyflport.berkadiarea.com  
http://silverlkhills.berkadiarea.com
http://Ridgecrest-GA.BerkadiaREA.com 
 

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August 30, 2018

MULTI-STATE - As McKinley Celebrates 50 years in business, our company has strategically shifted our focus to what the next 50 years look like. McKinley has implemented three key efforts to position our generational business for the long term and to bring us “back to our roots”with our sights on the future:

 

1.) McKinley has sold the majority of our retail and office holdings to once again become primarily a Multifamily platform. In doing so, we have also added a new asset class to the McKinley Companies, a quality investment grade NNN portfolio. Going back to our Multifamily roots as a business strategy has had many positive attributes on many levels, allowing our people, who are extraordinary at Multifamily to focus their abilities and drive the business to where it needs to be.

 

2.) McKinley has refinanced our Multifamily holdings with long-term debt at historically low interest rates. McKinley fully expects to have those mortgages paid off over time, and our currently low-leveraged business becomes free and clear. With this objective, we have built a fortress balance sheet along with extraordinary assets and cash flow that will fuel the future into the next 50 years.

 

3.) The last phase of the effort is to sell select Multifamily holdings that are not located in our core markets of Washtenaw County - Ann Arbor/Ypsilanti (since 1968) and Orlando/Hyde Park in Tampa (since 1982). The Washtenaw County and Central Florida core markets are where our people work and live. McKinley knows these markets the best, and the majority of our assets will still sit in these core markets after this sale. While this offering is large by industry standards, the sale is still only a fraction of what McKinley owns as an enterprise.

 

“While we never sell assets, particularly exceptional assets like we are offering in this sale, Ron Weiser, our Founder, and I have spent much time contemplating and planning what the McKinley Companies looks like as a generational business for the next 50 years. We are pleased that not only have we built an exceptional business, but we have made the right moves to position our generational business through 2068, our 100th anniversary,”stated Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.

 

“We have selected the team of Berkadia led by Ernie Katai, and Consortium Capital, LLC, led by Harry Collison, to lead the sales effort. We have deep roots with both organizations dating back over 30 years, and we are very confident that they will do a terrific job with the sale of these extraordinary assets,”added Berriz.

 

For more information about the McKinley Multifamily offering, please check out:

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Tags:   Sale

August 28, 2018

ANN ARBOR, MI. - McKinley is proud to announce its own Albert M. Berriz, CEO, Co-Owner and Managing Member & Ambassador Ronald N. Weiser, Founder have both been awarded the honor of being named to the DBusiness 500 Most Powerful Business Leaders in Metro Detroit. 

 

Every year DBusiness composes the Detroit 500, a comprehensive list of the most powerful executives in more than 30 industries across metro Detroit and Michigan. The list is highly selective and was compiled based on a number of factors including the size of a given company or organization, growth rate, geographical reach, and extensive personal contacts.

 

“Ron and I are honored to receive this recognition and to be included with this important group of honorees,” states Berriz. “We are proud most of our people and of all that they have accomplished during our 50-year track record, both in the Detroit region as well as nationally,” added Berriz.

 

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Tags:   Awards

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.
 

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June 8, 2018

OCALA, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment in Ocala, Florida.  This new construction property is occupied on a long-term lease by a Wal-Mart Supercenter, located in a highly visible premier retail corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise.

 

“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. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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Tags:   NNN

May 23, 2018

ORLANDO, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Orlando, Florida. This property is a newly constructed, free-standing Dunkin Donuts with a drive-thru and strategically located in the Orlando tourist area next to Universal Orlando resort.

“This real estate is in a very special location.  A large number of the apartments we own in central Florida are within a few miles of this asset,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “The theme park market is booming, and we anticipate further growth in this region which makes the Triple Net location very attractive to us," further offered Berriz. 

McKinley secured long term structured financing for a pool of NNN assets with Comerica Bank, N.A., one of McKinley’s most trusted and long-term banking relationships. “Comerica is a key partner and they strategically provided financing for us with terrific terms to allow us to position these assets for the long term. The pool is made up of select NNN assets consisting of two Sun Bank, N.A. bank locations in Gainesville and Lakeland, Florida, a Fifth Third Bank branch located in Windermere, Florida near Walt Disney World and two food & beverage properties also in Central Florida which includes this Dunkin Donuts and a Kentucky Fried Chicken in Orange City,” offered Jim Willett, Senior Vice President & Managing Director – Finance.

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May 10, 2018

CAYCE, SC. - The McKinley Companies announced today the acquisition of a Fee Simple interest in a commercially zoned property subject to a Triple Net Lease located in Cayce (Columbia), South Carolina. This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting on the high traffic signalized intersection of Hwy 321 and Knox Abbot Rd in the city’s main commercial corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“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. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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May 4, 2018

McKinley is proud to partner with Project Healthy Schools to purchase water bottle filling stations for Tappan, Slauson, Forsythe, Scarlett, and Clague middle schools.  READ MORE

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Tags:   Media

May 1, 2018

AUGUSTA, GA. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Hephzibah, Georgia.  This property is occupied on a long-term lease by a Wal-Mart Supercenter, sitting in a dense retail and commercial corridor and in close proximity to Fort Gordon with 30,000 active military personnel. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise along with a portfolio of select investment grade NNN assets.

 

“As we exit our retail and office holdings, we are moving capital to our core Multifamily platform, and also into a newly created platform of high-quality investment grade triple net leases consisting primarily of Walmart properties in the Southeast and Midwest,”offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “We have been methodical and disciplined in crafting a sophisticated portfolio of long term Triple Net Investments of the highest credit quality and in conjunction with being extraordinarily well located real estate,”added Berriz.

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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