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.
January 24, 2018
Hyde Park, Tampa, Florida - The McKinley Companies announced today the closing of a long-term financing facility with Comerica Bank, N.A. for Addison Flats, Estancia Flats, Miramar Flats & Village Flats. These four communities are part of the McKinley Hyde Park boutique collection of unique and historic apartment communities located in Hyde Park, Downtown Tampa, Florida.
Addison Flats offers the perfect balance of thoughtfully restored historic architecture with sophisticated and spacious ultra-luxury finishes situated on Azeele Street, a quaint brick road neighborhood with well-established homes blocks away from Bayshore Blvd, Tampa General Hospital and Downtown Tampa.
Estancia Flats redesigned in the spirit of historic art deco elegance offers residents stylish living on San Pedro Street nestled in the highly sought-after Palma Ceia neighborhood within walking distance to local eateries and direct access to Bay to Bay Blvd and the Selmon Expressway.
Miramar Flats offers eclectic bohemian-style bungalows with a secluded and calm ambience with contemporary interiors on San Juan St. This gem is tucked away in the highly sought-after Palma Ceia neighborhood moments away from Bayshore Blvd.
Village Flats with a view of Bayshore Blvd and located on the iconic Rome Avenue bolsters one of the most coveted corners in all of Hyde Park. With restored interiors and charming historic architecture, Village Flats residents enjoy extravagant living in a premier setting at the doorstep of Hyde Park Village and classy restaurants such as Bern’s Steakhouse.
McKinley today is the largest owner-operator of multifamily apartments in the Hyde Park market, spanning a total of 26 communities located throughout Hyde Park, South Tampa and the Westshore Marina District. Comerica Bank has a long-term relationship with McKinley, and has supported McKinley throughout its growth in Hyde Park and continues to do so with the closing of this most important long-term financing. “Comerica comes through once again on this long-term facility for these very special communities we own in Hyde Park,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “They understand our needs and they work very hard to make things happen for us, we are thrilled with this outcome,” added Willett.
McKinley has owned and operated multifamily apartment communities in Central Florida since 1982, and today is largest Multifamily owner-operator along the highly populated Interstate-4 Corridor between Orlando and Tampa. McKinley currently owns apartment communities in Orlando, Winter Park, Daytona Beach, Gainesville, North Reddington Beach, South Pasadena, Clearwater, Gulfport, Hyde Park, South Tampa and Tampa.
January 23, 2018
The McKinley Companies announced today the acquisition of two Triple Net assets located in Gainesville and Lakeland, Florida. McKinley has been exiting its retail and office holdings while migrating to an all Multifamily enterprise as well as owning and operating a select portfolio of high quality long term commercial real estate holdings that have excellent investment grade credit tenants in place. These two most recent acquisitions are occupied by SunTrust Banks, Inc. (NYSE - STI) which is rated BBB+, on long-term NNN leases.
Gainesville, Florida – The property at 5080 W Newberry Road consists of 6,314 square feet on 1.48 acres located in Gainesville’s financial district and situated within the University of Florida hub. The corner of 8th Avenue and W Newberry is a vibrant corridor with close proximity to the Oaks Mall Regional Shopping Center and I-75.
Lakeland, Florida – The property at 5441 N. Socrum Loop consists of 3,448 square feet on .85 acres located in the prosperous neighborhood positioned by Lake Gibson, accessible from interstate 4 on the corner of Publix Super 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 and the Walmart NNN investment located in Grand Rapids, Michigan. “We are thrilled with these additions to our extraordinary NNN investment portfolio,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We are looking forward to several additional acquisitions we have in the pipeline that will add to our portfolio of NNN investments,” added Willett.
January 23, 2018
Norfolk’s JANAF Shopping Yard may be seeing some new retailers and development in the coming years thanks to a new owner, Wheeler Real Estate Investment Trust Inc. CLICK HERE
January 22, 2018
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) (“Wheeler” or the “Company”), a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing retail properties with a primary focus on grocery-anchored centers, today reported that the Company has acquired JANAF Shopping Yard (“JANAF” or “Property”), a 887,917 rentable square foot shopping center located in Norfolk, Virginia.
Tow read more CLICK HERE