News


June 1, 2017

McKinley is pleased to announce the promotion of David A. Peabody, Esq., to Senior Vice President & Managing Director - HR Services & Risk Management.  In his new role he will lead all Risk Management efforts in addition to his core HR and other risk management duties.

 

David has been with McKinley since 2005. He is an alumnus of the University of Michigan, Western Michigan University’s Thomas M. Cooley Law School, and the Harvard Business School. He is also an active member of the American Bar Association; the American Bar Association Section on Labor and Employment Law; the State Bar of Michigan sections on Labor and Employment Law and Workers’ Compensation Law; the University of Michigan Letterwinners M Club; the University of Michigan Alumni Association; the Harvard University Alumni Association; and the Harvard Business School Club of Michigan.

"David and I have been working side by side for a number of years.  He will be a tremendous success in this new role due to his intellect, passion for our core values, and the tremendous respect he has garnered both internally and with our clients," offered Albert M. Berriz, McKinley's CEO, Co-Owner and Managing Member. “As the 2017 Hurricane Season starts today through November 30th, we are confident in David’s ability to lead our team and keep our people as well as our communities safe.  We have an amazing team across the country that comes together each year to prepare and implement one of the most effective and sophisticated hurricane preparedness efforts in the real estate industry,” added Berriz.

“I’m excited for this opportunity to lead our risk management team and as we enter hurricane season, am currently focused on working with our operational leaders to maintain McKinley’s exceptional preparedness and awareness program for our communities in potentially affected areas,” shared Peabody.

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Tags:   promotion

May 18, 2017

McKinley is pleased to announce that it has closed on a $19,900,000 long term financing with Fannie Mae (FNMA) for a multi-property scattered site portfolio located in Hyde Park (Tampa), Florida. The portfolio represents a portion of McKinley's holdings in Hyde Park, and is the second major long-term refinancing event for the McKinley Hyde Park brand. Berkadia, Berkshire Hathaway and Leucadia National company, originated the financing on behalf of McKinley. Berkadia’s long-term relationship with McKinley spans several decades, and within the last 5 years it has executed on over $1 Billion of Multifamily long-term mortgages on behalf of McKinley via HUD, Fannie Mae and Freddie Mac.

 

"We continue our long-term refinancing efforts for our Hyde Park acquisitions in this most favorable rate environment. Thanks to the exceptional performance of our team that has made this possible through complex renovations, lease-up and stabilization of this portfolio in record time," offered Albert M. Berriz, McKinley's CEO, Managing Member and Co-Owner. "The Hyde Park effort has also allowed us to diversify our Central Florida Multifamily holdings into yet another solid market that will have significant long-term appreciation based upon a foundation of concrete employment fundamentals in a highly sought after area with a terrific quality of life," added Berriz. "We expect to continue to grow in the Hyde Park/South Tampa geography adding to what has become the dominant Multifamily brand in that market," further added Berriz. 

 

The McKinley Hyde Park brand is a boutique collection of 28 multifamily communities of historic and unique significance located in Hyde Park, Downtown Tampa. These communities span from the Hillsborough River in the Downtown to MacDill Air Force Base in South Tampa. The brand offers a variety of price points and product offerings to meet the needs of a very discerning customer base. The portfolio enjoys walkable access to high end retail shops and the best restaurants in the region, as well as wellness and outdoor opportunities available throughout the area. This boutique collection also features condominium grade interiors and exquisite exterior renovations as well as community amenities that generate the best available product in the marketplace. McKinley today is the largest owner-operator of multifamily communities in the Hyde Park/South Tampa market.

 

McKinley is proud to be a major employer and owner of Multifamily and Retail real estate throughout Central Florida, having actively invested in the region since 1982. As one of the largest owners of Multifamily real estate throughout Central Florida, McKinley is committed to the future and well-being of the region, its customers that provide us the opportunity to serve their housing needs, and its 500 amazing Central Florida based team members who make it happen every day. McKinley currently owns a portfolio of 57 multifamily communities in seven major Central Florida sub-markets including the Orlando Theme Park market, the Orlando Airport market, Winter Park, Daytona Beach, Gainesville, Pinellas County which includes Clearwater, South Pasadena, North Redington Beach and Gulfport, and Tampa/Hyde Park/South Tampa. McKinley operates in the Central Florida Region under its flagship McKinley workforce housing brand, as well as its luxury brands which include McKinley Beach on the Barrier Islands of Pinellas County and McKinley Hyde Park in Hyde Park/South Tampa.

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Tags:   Financing

May 5, 2017

McKinley's Institutional Commercial Real Estate Team (ICRE) announced today the takeover of Georgetown Plaza, a 111,600 square center in Indianapolis, Indiana.  This center is home to tenants such as Family Dollar and Value World and is 65% occupied. This takeover marks the 13th takeover in the state of Indiana for McKinley.

 

Spearheading the takeover efforts is the new leader of McKinley’s ICRE team, Royal (Trey) E. Caswell III, Senior Vice President & Managing Director, Institutional Real Estate.  Royal has significant expertise in assisting institutional clients in the workout of distressed shopping centers, office buildings and industrial buildings throughout the United States.  Including the management of his team, his duties include Asset and Commercial portfolio management and redevelopment, lease negotiation, risk management and acquisition and disposition of new assets.

 

“This is a distressed shopping center assignment for a bankruptcy trustee.  The McKinley team looks forward to a quick physical repositioning of this neglected asset,” offered Royal “Trey” Caswell, McKinley’s Senior Vice President.  “This asset serves a need in the sub-market and we will have an immediate impact for both customers and tenants,” said Caswell.

 

"Trey is obviously a very experienced commercial real estate executive and McKinley leader having founded and started this group initially in 2001. He also led our Owned Commercial Team (OCRE) as well for over a decade" offered Berriz. "I am thrilled that Trey is back in the driver’s seat leading this team, he makes things happen and he can generate real results for our institutional clients," added Berriz. "Trey started with me in 2000 and he has personally handled some of the most complex multifamily and commercial workouts, bankruptcies and receiverships we have ever dealt with working on behalf of our institutional clients, he is in the field, he is a true detailed oriented guy, and this is great news for our entire ICRE team," further added Berriz.

 

 

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Tags:   Residential

April 28, 2017

McKinley is pleased to announce that it has closed on a $20,450,000 long term financing with Fannie Mae (FNMA) for a multi-property scattered site portfolio located in Hyde Park (Tampa) Florida. The portfolio represents a portion of McKinley's holdings in Hyde Park, and is the first major long term refinancing event for The McKinley Hyde Park brand. Berkadia, a Berkshire Hathaway and Leucadia National company, originated the financing on behalf of McKinley. Berkadia and McKinley have had a long term relationship spanning several decades, and most recently over the past 5 years, Berkadia has executed on over $1 Billion of Multifamily long term mortgages on behalf of McKinley via HUD, Fannie Mae and Freddie Mac.

 

"We have a high degree of confidence with Justin Wheeler, Ernie Katai and the entire Berkadia team," offered Albert M. Berriz, McKinley's CEO, Managing Member and Co-Owner. "They always deliver and they always do the right thing for us," added Berriz. McKinley and Berkadia will be closing on a second tranche of McKinley Hyde Park financing with Fannie Mae later in May as well. "These financing events have proven our thesis and have positioned the various properties in the first tranche for our classic long term generational ownership with substantial sustainable cash flow," further added Berriz.

 

The McKinley Hyde Park brand is a boutique collection of 28 multifamily communities of historic and unique significance located in Hyde Park, Downtown Tampa. These communities span from the Hillsborough River in the Downtown to MacDill Air Force Base in South Tampa. The brand offers a variety of price points and product offerings to meet the needs of a very discerning customer base. The portfolio enjoys walkable access to high end retail shops and the best restaurants in the region, as well as wellness and outdoor opportunities available throughout the area. This boutique collection also features condominium grade interiors and exquisite exterior renovations as well as community amenities that generate the best available product in the marketplace. McKinley today is the largest owner-operator of multifamily communities in the Hyde Park/South Tampa market.

 

McKinley is proud to be a major employer and owner of Multifamily and Retail real estate throughout Central Florida, having actively invested in the region since 1982. As one of the largest owners of Multifamily real estate throughout Central Florida, McKinley is committed to the future and well-being of the region, its customers that provide us the opportunity to serve their housing needs, and its 500 amazing Central Florida based team members who make it happen every day. McKinley currently owns a portfolio of 57 multifamily communities in seven major Central Florida sub-markets including the Orlando Theme Park market, the Orlando Airport market, Winter Park, Daytona Beach, Gainesville, Pinellas County which includes Clearwater, South Pasadena, North Redington Beach, Gulfport, and Tampa/Hyde Park/South Tampa. McKinley operates in the Central Florida Region under its flagship McKinley workforce housing brand, as well as its luxury brands which include McKinley Beach on the Barrier Islands of Pinellas County and McKinley Hyde Park in Hyde Park/South Tampa. 

 

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Tags:   Hyde Park

April 18, 2017

The McKinley Companies announced today that it has completed the successful acquisition of Palio Apartment Homes formally known as Middlebrook Farms Apartments, a 320-unit luxury apartment community located in the Universal Orlando submarket of Orlando, Florida. Palio Apartment Homes is McKinley's twelfth owned workforce housing community specifically located in the Orlando Theme Park corridor between Universal Orlando and Walt Disney World, and its 57th Owned community located throughout Central Florida including Orlando, Winter Park, Daytona Beach, Gainesville, Clearwater, South Pasadena, North Reddington Beach, Gulfport, and Tampa/Hyde Park/South Tampa. McKinley operates in the Central Florida Region under its flagship McKinley workforce housing brand, as well as its McKinley Beach and McKinley Hyde Park luxury brands. 

 

Palio was built in 2001, and contains a mix of large one, two and three bedroom apartments and townhomes with extensive amenities, garages and on-site storage facilities. The large size apartments, which all have in-home washers and dryers and private patios, in conjunction with the Orange County Public Schools, provide excellent housing opportunities for the workforce along the Orlando Theme Park corridor. Palio Apartment Homes is just minutes from major employers including Universal Orlando, Orange County Convention Center, Sea World and Walt Disney World. "We are passionate about being the workforce housing provider of choice throughout the Orlando Tourist Commercial corridor. In addition to our many apartment styles and sizes that we have available, our communities are in very close proximity to jobs, which allows our residents to walk or take a short ride to work each day," offered Albert M. Berriz, McKinley's CEO, Co-Owner and Managing Member. "As drive times and traffic becomes a much more complex issue throughout Central Florida, we believe that having apartment communities immediately adjacent to the largest employers in the region will be a major strategic advantage now and into the future," added Berriz.

 

McKinley was able to move quickly and close on this transaction in record time with its own capital supported by Key Bank, a long term commercial banking relationship of over 25 years. "We have never missed on a closing, and as we did with Palio Apartment Homes, we can move very quickly given our vast financial resources and our amazing team and relationships on the ground in Central Florida which is a key differentiator for us in the marketplace," offered Jim Willett, McKinley's Senior Vice President & Managing Director. "We had our good friends and long term commercial banking partners from Key Bank supporting us on this transaction. In their classic style our banks are always with us, and work along-side us, as we very quickly close large and complex transactions like Palio Apartment Homes," added Willett.

 

McKinley is proud to be a major employer and owner of Multifamily and Retail real estate throughout Central Florida, having actively invested in the region since 1982. As one of the largest owners of Multifamily real estate throughout Central Florida, McKinley is committed to the future and well-being of the region, our customers that provide us the opportunity to serve their housing needs, and our over 500 amazing Central Florida based team members who make it happen every day.

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Tags:   Hyde Park

April 11, 2017

McKinley Institutional Commercial Real Estate Team is pleased to announce the takeover of Cortez Common, a 72,160 square center in Brooksville, Florida, a suburb of Tampa. This center is home to tenants such as Dick’s Sporting Goods and Five Below and is 100% occupied. This takeover, on behalf of a major institutional client, is McKinley’s 42nd Institutional Commercial Real Estate takeover in the state of Florida.

 

"Our team was able to react quickly and immediately step in to achieve our client’s objectives in this complex workout transaction," offered Jessica Furlong, Director of Operations for McKinley's Institutional Commercial Real Estate Team. "Our capabilities on the ground and our vast experience and resources in the Central Florida region further allowed us to move quickly and execute the takeover in record time," added Furlong.

 

McKinley has been actively investing and operating Multifamily, Office and Retail assets in the Central Florida Region since 1982. McKinley is a major employer in the region as an owner/operator of real estate throughout Tampa Bay, Hyde Park, South Tampa, South Pasadena, Gulfport, North Redington, Clearwater, Inverness, Brooksville, Orlando, Winter Springs, Winter Park, Daytona Beach and Gainesville. McKinley is committed to the well-being and future of the region and is proud of its over 450 Central Florida Team Members who execute amazingly every single day.  

 

 

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Tags:   Commercial

March 24, 2017

Mlive reports on latest timeline for Packard square.    CLICK HERE

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Tags:   Media

March 22, 2017

ANN ARBOR, MI. – McKinley’s CEO, Albert M. Berriz and his wife Paula Berriz, as well as Founder, Ambassador Ronald N. Weiser and wife Eileen Weiser are proud to announce their major financial support for Project Healthy Schools (PHS) in Ann Arbor, Michigan. 

 

Project Healthy Schools is a community-University of Michigan Health System (UMHS) collaborative which provides a school-based program to reduce childhood obesity and its long-term health risks. Focusing primarily on sixth grade students, PHS aims to stem the tide of this epidemic by:

teaching youth healthy habits
developing healthy school environments
creating an infrastructure that supports program sustainability and replication

 

“This is a wonderful example of a University of Michigan program in partnership with Ann Arbor Public Schools, and they are making a huge difference in the lives of these students,” shared Albert M. Berriz. “After experiencing the class first hand, I was amazed with how the students were engaged, focused and curious to learn about making the right food choices and exercise, and the UM Health Ambassador volunteers (students) and teachers were awesome!”

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Tags:   charity

March 10, 2017

MUSKOGEE, OKLAHOMA - Matthew D. Mason, Senior Vice President Commercial Real Estate & Special Advisor to the CEO, announced today that The McKinley Companies successfully secured a three year lease extension with JC Penney at the Arrowhead Mall in Muskogee, Oklahoma. "The successful extension occurred in the middle of the store closure announcement and this transaction was a major victory for the mall and for our institutional client" offered Mason. Mr. Mason and his Institutional Commercial Real Estate Team, have rightfully earned a nationwide reputation for successfully resolving the most complex Retail situations, with a focus on very large distressed enclosed malls in secondary and tertiary markets. Mr. Mason and McKinley were appointed Receiver in November 2016 for this asset, and he and his team quickly moved to implement creative value add solutions. The J.C. Penney renewal was for 50,991 square feet, and through September 2020. Other anchors at the mall include Dillard’s, Office Depot, B&B Theaters, and Beall’s (www.arrowheadmallmuskogee.com).  

 

Mr. Mason leads McKinley's Commercial Client Services and Joint Venture divisions. He has significant expertise in assisting institutional clients in the workout of distressed shopping centers, office buildings and industrial buildings throughout the United States. Mr. Mason has been appointed as a court-appointed Receiver for distressed assets in multiple jurisdictions throughout the country, leading a team of eight commercial portfolio and asset managers who employ a disciplined, value added business model to ensure successful results for their clients. Including the management of his team, his duties include relationship management, commercial portfolio management and redevelopment, lease negotiation, and acquisition and disposition of new assets. Mr. Mason is a member of McKinley's Executive Committee. He is a graduate of the University of Michigan–Dearborn where he studied Political Science and History ('96, B.A.). After graduation from U-M, Mr. Mason attended the Thomas M. Cooley Law School in Lansing, Michigan (’98, J.D.). He is a member of the Michigan State Bar, the International Council of Shopping Centers (ICSC) and earned the prestigious designation of a Certified Commercial Investment Member (CCIM). For more information about McKinley's Institutional Commercial Client Services contact Matt Mason at mmason@mckinley.com (734)769-8520 ext 267.

 

About McKinley 

www.mckinley.com

Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and operator of multifamily and commercial real estate. McKinley owns and manages more than 55 million square feet of commercial and residential real estate throughout 34 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as for a select clientele of institutional investors and partners.

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January 9, 2017

 

OLDE HYDE PARK, FLORIDA - McKinley Hyde Park announced today that it has closed on the acquisition of Village Flats, located on Rome Avenue one block from Bayshore Boulevard in Olde Hyde Park, Florida. This community expands McKinley Hyde Park's dominant platform, which is the largest assembly of unique and historic luxury apartment homes in the Hyde Park/South Tampa market today. It also further expands its offerings along the Bayshore Boulevard corridor, and its walking distance to Hyde Park Village with some of the best shopping and dining in all of Tampa Bay http://www.hydeparkvillage.com/

"We have strategically positioned ourselves to offer a variety of options, lifestyle choices and price points throughout the brand platform" offered Jason Schaller, McKinley's Vice President and Managing Director for McKinley Hyde Park. "Village Flats will allow us to enhance our offerings in one of the most affluent and sought after neighborhoods in Olde Hyde Park. It is also steps away from Bayshore Boulevard which allows our customers access to miles of continuous waterfront recreation along Tampa Bay, and close proximity to all that the downtown has to offer." added Schaller. 

"McKinley Hyde Park represents the very best of authentic and historic apartment living in traditional neighborhoods within the heart of downtown," offered Albert M. Berriz, McKinley's CEO, Managing Member and Co-Owner.  "Each community has been carefully curated to ensure the brand delivers and exceeds expectations. We thoughtfully approach each building with an eye to detail which is sure to please the most discerning customers," Berriz further offered.

McKinley Hyde Park also leverages the talent, resources and history of McKinley's dominant workforce housing platform located in Orlando, Gainesville, Daytona Beach and the Tampa Bay markets operated under its core McKinley brand, and its other boutique luxury brand McKinley Beach which is located along the barrier islands of Pinellas County including Gulfport, South Pasadena and North Reddington Beach. McKinley today is the largest owner-operator of Multifamily communities along the Interstate-4 corridor in Central Florida with 56 multifamily communities in the Central Florida market. "We continue to execute our long term strategic vision and initiative to be the dominant multifamily owner operator at the center of this growth engine which is the Interstate-4 corridor, and we are thrilled to participate in a meaningful way in the future of Central Florida," added Berriz. 

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