February 21, 2019
ANN ARBOR, MICH.- McKinley Companies, one of the nation’s largest residential and commercial real estate development companies, is teaming up with Schoolcraft Community College to help hire and train building maintenance professionals for employment at the company’s communities throughout Ann Arbor and Ypsilanti.
Applicants are currently being sought to fill a four-week paid Maintenance Apprenticeship Program that begins on Monday, April 11, 2019. The training program was designed by the Schoolcraft Business Development department and will be led by a Schoolcraft instructor on-site at one of McKinley’s communities.
Those selected to join the program will transition into a full-time maintenance tech role with McKinley upon successful completion. The starting wage for the positions is $13.50 per hour, plus a generous benefits package for those who meet minimum qualifications.
“The first year of this apprenticeship was extremely successful. Over the last year, we have had great employee retention as well as promotions which is tremendously exciting.” said Will Epps, Associate Vice President of Operations at McKinley. “I am excited to partner with Schoolcraft for this second year of the apprentice program and continue to give back to our community by providing education and careers.”
Those interested in joining the program should attend one of two informational sessions at the Glencoe Hills Apartments clubhouse, located at 2201 Glencoe Hills Drive in Ann Arbor.
These two-hour informational sessions will be held on Thursday, March 7, 2019 (10 a.m. – 2 p.m.) and Tuesday, March 12, 2019 (3 to 5 p.m.). Each session will cover “A Day in the Life of a Building Maintenance Professional,” including a video presentation, open dialogue with industry experts, and details on compensation and benefits.
The program includes 60 hours of Schoolcraft instructor-led classes over four weeks that will focus on appliance repair, drywall installation and patching, basic plumbing and electrical repair and painting.
“Schoolcraft College Workforce Training Solutions is excited to partner with McKinley to provide this innovative work-based learning program for new property maintenance staff,” said Sandra Miller, Schoolcraft’s Business Development Center Project Coordinator. “This custom-designed program will give McKinley’s newly hired staff extensive hands-on training to ensure success in the property management maintenance field.”
Any interested candidate:
Must be 18 years old or able to obtain a work permit.
Must have access to a vehicle and hold a valid driver’s license.
Does not use 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.
For more information or to ask questions about the Maintenance Apprenticeship Program please call 734-274-6326.
January 8, 2019
Berkadia Completes Sale of Multifamily Property in Indiana. To read more about it CLICK HERE
December 20, 2018
Ann Arbor, Mich.- Albert M. Berriz, CEO, Board Member, Managing Member and Co-Owner, announced today that McKinley had completed the first phase of its strategic disposition effort for its non-core Multifamily holdings. The total transaction size was 1,614 units and the properties sold were located in Illinois, Indiana and Georgia. McKinley retained the partnership of Berkadia and Consortium Capital to execute this complex multi-state disposition effort, which it completed in record time.
“We are very pleased with the overall effort to date and we look forward to completing the remaining phases of our plan in 2019,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “We continue to match the disposition effort with continued growth in our core markets of Orlando, Florida and Ann Arbor, Michigan (Washtenaw County), and our expanding portfolio of investment grade NNN real estate holdings,” further offered Collison.
“This effort is an integral part of what has made McKinley a generational real estate enterprise with a fortress balance sheet, extraordinary real estate, and most importantly, amazing people that do the unbelievable every single day,” offered Berriz. “We are caring, hardworking, positive and diverse people; we work shoulder-to-shoulder in the field where EVERYTHING we do happens; we are passionate about serving (customers, colleagues, clients and partners) and being "extraordinary" is a cultural way of life!” added Berriz.
December 14, 2018
Winter Park, Florida - The McKinley Companies announced today the acquisition of Sapphire Winter Park Apartments, a 348-unit garden apartment community located in Winter Park, Florida. Sapphire Winter Park joins Indigo Winter Park, Azure Winter Park and Serena Winter Park to complement its Winter Park holdings, a sub-market McKinley has been actively owning and operating Multifamily investments in since 1985 and in Orlando since 1982. McKinley will undertake a multimillion-dollar renovation of this community to include all brand-new condominium grade interiors, extensive exterior upgrades, as well as improvements to the amenities, market window and grounds. This major renovation effort will start immediately, and residents will enjoy very significant enhancements to their customer experience in early 2019.
“The acquisition was part of a complex 1031 exchange transaction involving the sale of a property located in Champaign, Illinois and another property located in Indianapolis, Indiana,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “In classic McKinley style and effectiveness, we were able to close on the acquisition of Sapphire Winter Park in just 32 days from contract execution,” further offered Collison.
“Our team has lots of confidence in the Winter Park sub-market and we look forward to bringing Sapphire Winter Park into our McKinley family,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. “This location as well as the very large apartment sizes available for us to work with make it a perfect addition to our Winter Park portfolio. Our team led by Albert L. Berriz, Executive Vice President and Managing Director for Owned Multifamily Residential and The McKinley Companies, really set a new standard for this sub-market with their recent efforts at Serena Winter Park. They will take a lot of those positive experiences they learned at Serena and leverage them to create an exceptional outcome for our customers at Sapphire. This is without question a classic generational asset that we will be very proud of for many years to come, and we will make a considerable investment in the physical plant commensurate with that long-term view to create excellence in customer experience,” further offered Berriz.
McKinley secured long term fixed rate financing for the acquisition and redevelopment of Sapphire Winter Park from Canadian Imperial Bank of Commerce (CIBC). “We have had a very close relationship with the leadership team at CIBC for over three decades,” offered Berriz. “We cherish our relationship with them, they are always there for us, and they are a critical part of our McKinley family,” further offered Berriz.
December 13, 2018
Berkadia Completes Sale of Multifamily Property in Illinois. To read more CLICK HERE
November 30, 2018
Ann Arbor, Mich.- McKinley announced today that it has closed on $68,182,000 of long-term Fixed Rate Financing for Harbor Beach Apartments located in Orlando, Florida and Manchester Flats Apartments located in Ann Arbor, Michigan. Both apartment communities are generational investments in McKinley’s core markets of Orlando and Ann Arbor.
Harbor Beach is a 602-unit apartment community located in Orlando, Florida, offering charming one- and two-bedroom floorplans with private access to Lake Fredrica beach. Each apartment home includes a spacious open floor plan, soft plush carpeting and vinyl wood-like flooring. It is conveniently located on 436 (Semoran Blvd) with easy access to 408/417 and minutes from Orlando International Airport and is directly on the LYNX busline 3 & 436S.
Manchester Flats is a 174-unit apartment community located in the Old West Side market of Ann Arbor, where McKinley is the dominant Multifamily owner operator.The community is the perfect combination of urban apartment living and old-world charm and offers delightful studio, one, two and three-bedroom apartment floorplans featuring hardwood floors. This desirable location allows convenient access to the University of Michigan campus and medical center, Ann Arbor Public Schools, as well as local Ann Arbor shopping and dining.
“We are thrilled to continue our focus of locking up long-term fixed rate debt on all of our generational real estate holdings, this is an important year end closing for us, and we are very pleased with the outcome,” offered Jim Willett, Senior Vice President & Managing Director – Finance. KeyBank Real Estate Capital and Fannie Mae partnered to deliver the financings for Harbor Beach and Manchester Flats, as they have on many similar transactions for McKinley. “We have closed over $300 million this year with KeyBank and Fannie Mae, and they have been exceptional in every single way. They are a core part of our McKinley family, and we cherish our relationship with them,” further offered Willett.
November 8, 2018
Celebration, Fl.– The McKinley Companies announced today the acquisition of its newest Triple Net investment in Southwest Orlando, Florida.This newly developed 7-11 gas station and convenience store just opened in the Disney Celebration Planned Development and is consistent with McKinley’s NNN acquisition criteria. This development is in McKinley’s core Central Florida market, an exceptional location, and is occupied by an investment grade tenant on a long-term lease. McKinley has amassed a formidable NNN presence in the Southeast to include Florida, Georgia, and South Carolina, as well as in Michigan in the Midwest.
“This was a very complicated transaction with a 1031 exchange on a newly developed property, but it all worked out brilliantly,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “We have once again found the perfect combination of an extraordinary location and a superior investment grade tenant, and of course, it’s located in our Orlando Theme Park market which is one of largest concentrations of Multifamily holdings in our platform nationwide,” further offered Collison.
Canadian Imperial Bank of Commerce (CIBC) provided long-term fixed rate financing for this acquisition, as they have done on many of McKinley’s NNN acquisitions over the past several years. “CIBC is a terrific partner, they understand our needs in the NNN space, and they always perform for us,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We have had an amazing relationship with the CIBC Team over the years, and we look forward to many positive years to come in our extraordinary relationship,” offered Willett.
October 31, 2018
ANN ARBOR, MI. – McKinley is proud to announce that its own Health & Wellness Director, Meredith Mitchell-Rodriguez, has been recognized as 1 of 100 Top Wellness Champions in the nation for 2018. The Corporate Health & Wellness Association (CHWA), in conjunction with the Corporate Wellness Magazine (CWM), recognize a select group of individuals each year whose achievements have enhanced and brought innovation to the corporate health and wellness industry. The Well-being 100™ Awards honors HR, wellness or benefits professionals, consultants, agents & brokers who "make wellness happen" for an organization. These are the innovators, motivators, and "gamechangers" that have what it takes to engage their employee population to be healthier.
“It is so exciting to be recognized as one of the Top Wellness Champions in the nation, it’s truly an honor. Making healthy lifestyle choices has become very infectious throughout our McKinley culture and it brings me great joy to be able to watch our team members and their families adopt healthy habits that physically make them feel amazing,” stated Meredith Mitchell-Rodriguez, Health and Wellness Director. “We have incredible people who make up this great McKinley team of ours and we want to do everything we can to help them feel their absolute best, so they can work hard and more importantly, enjoy life,” added Mitchell-Rodriguez.
“Meredith’s passion and innovation in the field of wellness is second to none and I’m incredibly proud of her and fortunate that all of us at McKinley are able to benefit from her awesomeness. Our employees are our most valuable assets and to be able to not only make an investment in the health and well-being of all of our McKinley families, but to continue to be an industry leader in this area is very special to us,” shared David Peabody, Esq. Senior Vice President & Managing Director - HR Services & Risk Management.
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 firstname.lastname@example.org or (734) 389-8387.
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: