October 3, 2012
ANN ARBOR, MIMcKinley Commercial Client Services is pleased to announce that it has been appointed to manage a portfolio of 45 single-tenant Albertsons grocery stores comprising 2.1 million square feet. This is the largest takeover in McKinley's Commercial Client Services history. The assets are located in 15 states throughout the western and southeastern United States and are concentrated primarily in the markets of California, Washington, Nebraska, Oregon, Florida and Alabama. The portfolio is currently 89% leased to Albertsons, Stater Bros., Bag N Save and Sweetbay Supermarket. The total portfolio is valued at more than $125 million.
"We are thrilled to be presented with this opportunity," said Lauren Dritz, director of commercial portfolio management for McKinley. "We have already started initiating a long term work out strategy and have brought on several members of the McKinley team, led by April Fitch, to provide property management services. McKinley has a unbelievably strong record regarding workout assignments and we look forward to being involved with this portfolio."
"Lauren and her folks have done another fantastic job," added Albert M. Berriz, CEO of McKinley. "We have the best team in the marketplace and with our focus on execution and operational excellence, we look forward to enhancing the value of these assets."
October 3, 2012
Read the article about McKinley's newest Board Chairman at REJounals.com.
October 3, 2012
ANN ARBOR, MIMcKinley is pleased to announce that it has been appointed receiver and managing agent by the Marion County Superior Court for Arbor Green, a 208 unit apartment community located in Indianapolis, IN. Arbor Green is a multi building apartment complex just minutes from shopping and dining and conveniently located near I-465 and I-69 and downtown Indianapolis. The community features natural settings including a sparkling lake and a wooded tree line.
We appreciate the opportunity to manage Arbor Green," said Alexandra Jackiw, managing director of McKinley's Residential Client Services. "McKinley has already started initiating a long term work out plan for the community including bringing on Jill Burke, regional director, property operations at McKinley to head up the management team. McKinley is committed to providing long term improvements to the community that will not only benefit our residents, but also enhance the value of this asset."
Albert M. Berriz, CEO of McKinley added, "This shows the significant leverage Alex Jackiw has added to our Midwest platform. Alex lives in Indianapolis and she is the absolute best management professional in the entire state. She and her team will create significant value for all of our stakeholders."
McKinley has been actively involved owning and operating multifamily and commercial real estate in Indianapolis since 1982. It currently owns a portfolio of assets in Carmel, Castleton and northwest Indianapolis, and also actively manages for institutional clients throughout the greater metropolitan Indianapolis market.
October 3, 2012
Ann Arbor, MI Matthew Mason, senior vice president and managing director of real estate at McKinley, will be speaking October 11 from 7:30 am - 9:30 am at The Townsend Hotel in Birmingham, MI at a breakfast roundtable hosted by the State Bar of Michigan. The roundtable, "Dealing with Distressed Properties, Part I -- Fight or Flight: The Lawyer's Guide to Analyzing Exit Strategies", will explore the various ways that lawyers can deal with distressed real estate. Panelists will be discussing the myriad issues that lawyers face when assisting both borrowers and lenders in determining whether, or how, to exit a struggling development. Roundtable participants will also be able to discuss with the panelists a wide range of relevant topics, from issues related to foreclosures, short sales, bankruptcy and receiverships, to loan workouts and note sales.
September 30, 2012
ANN ARBOR, MIMcKinley is pleased to announce that it has been appointed receiver by the Court of Common Pleas of Lake County, Ohio for the Springcrest Apartments, an 84 unit community located in Willowick, OH. Springcrest Apartments is a multi building apartment complex, close to shopping and public transportation and located only minutes from Lake Erie and other attractions.
We appreciate the opportunity to manage Springcrest Apartments," said Alexandra Jackiw, managing director of McKinley's Residential Client Services. "McKinley has already started initiating a long term work out plan for the community including bringing on Jill Burke, regional director, property operations at McKinley to head up the management team. McKinley is committed to providing long term improvements to the community that will not only benefit our residents, but also enhance the value of this asset."
September 30, 2012
Ann Arbor, MI McKinley is pleased to announce that The Shoppes at Akron Center, a retail center located in downtown Akron, was recently awarded the 2012 Beautification Watch Award by the Beautification Bureau of Keep Akron Beautiful. The award was established in 1983 to recognize people, organizations and businesses that consistently work to keep their Akron property clean and beautiful. The award is based on businesses that exemplify a litter-free property with well-maintained flowers, shrubs and/or trees, free of weeds and that stands out from its neighbors.
I am extremely pleased to have won this award, said Denise Armstrong, assistant vice president and regional property manager for McKinley. I am so proud of the Akron team for taking such good care of the building and the landscaping. They do such a great job and I am so honored to work with them - thanks again to the entire team!"
"I am very proud of our Akron Team" said Albert M. Berriz, CEO. "We have the very best office management team in the marketplace and the best office environment anywhere in Downtown Akron."
September 24, 2012
Ann Arbor, MI Albert M. Berriz, CEO of McKinley, will be speaking October 3 at 2 pm EST on a webinar jointly sponsored by Multi-Housing News and Commercial Property Executive. The webinar, "Secondary and Tertiary Markets: Identifying, Finding and Investing in Commercial Real Estate Opportunities", will examine alternative commercial and multifamily property markets that are still ahead in the business cycle, as well as outline local market fundamentals and investment opportunities including off-market, submarket, distressed and REO assets. The panel will also supply expert tips on working with the brokerage community, underwriting properties, obtaining financing, and negotiating deals that can provide a great start to identifying, finding and investing in these commonly overlooked markets.
Other participants on the webinar include Ernie Katai, senior vice president at Berkadia: Gary Ralston, managing partner Coldwell Banker Commercial, Saunders Ralston Dantzler Realty; and John Sebree, vice president, national director, National Housing Group, Marcus & Millichap Real Estate Investment Services.
September 19, 2012
Ann Arbor, MI Albert M. Berriz, CEO of McKinley, will be speaking at the Multifamily Executive Conference on October 9 at Aria Hotel and Casino in Las Vegas from 10:45 am 11:45 am. The panelists will discuss acquisition-rehab deals that were all the rage at the height of the last boom period and the fact that many of them never lived up to their underwriting promises. But as rent growth resumes, developers are finding more opportunities to turn around troubled properties. This panel will deliver tips on finding the best rehab deals and identifying which upgrades provide the most value to an apartment community.
Other speakers on the panel include moderator, Steve Heimler, President, Cirrus Asset Management; Paul Zakhary, Manager, The Bascom Group; and James Maclin, SVP/Director of Corporate Services, MAA.
September 18, 2012
Ann Arbor, MI Alexandra Jackiw, Managing Director of McKinley's Residential Client Services will be speaking on September 19 at the Citrus Club in Orlando at the Commercial Real Estate Women (CREW) luncheon program from 11:30 am to 1 pm. This panel will explore and highlight several key areas relating to the rapid and strong recovery of the multifamily market.
Other speakers on the panel also include Kyle Riva, President of Epoch Properties; Martha Anderson Hartley, Attorney/Shareholder at Baker, Donelson, Bearman, Caldwell & Berkowitz, PC; and the moderator of the panel, Sarah Kelly Vice President of Business Development for Wayne Automatic Fire Sprinklers.
September 6, 2012
ANN ARBOR, MIMcKinley is pleased to announce that it has been appointed receiver by the Iowa District Court for Black Hawk County for a 67,250 square foot office building in Cedar Falls, Iowa. The building, which was constructed in 2002, was well occupied until recently when a large tenant vacated the building.
We appreciate the opportunity to manage the Cedar Falls office building," commented Matt Mason, Senior Vice President and Managing Director of Real Estate at McKinley. "McKinley has already started initiating a long term work out plan for the building and we have already brought on several members of our Midwest team to provide property management services. This appointment is also significant as it is McKinley's first real estate assignment in the state of Iowa and represents the continued expansion of our commercial client services platform."