August 1, 2013
LAKE MARY, FL McKinley is pleased to announce that its Institutional Commercial Real Estate Group has completed another successful workout. The Property, Lake Emma Corporate Park, is a 245,000 square foot, two building office complex located in Lake Mary, Florida. McKinley was appointed as Receiver on August 8, 2011 and was subsequently retained as Property Manager. During McKinleys time managing the property, a successful tax appeal was negotiated, an extensive HVAC replacement project was completed, operating costs were reduced, occupancy was increased and the overall property appearance was enhanced. These improvements allowed for the successful disposition of the asset.
We are pleased to have the opportunity to successfully reposition this asset for sale, shared Matthew D. Mason, Managing Director, Real Estate, McKinley. Our expertise and track record is longstanding in Florida, as we have successfully owned and operated real estate in the state since 1982, shared Mason.
July 28, 2013
Ann Arbor, MI McKinley is pleased to announce that James Stanfill has joined the company as Managing Director, West Coast Operations to lead the McKinley Residential expansion into California. Jim is a California native, and an accomplished real estate executive having graduated from UCLA with a BA in Economics in 1990. Jim spent the past 23 years as an office and retail property specialist, earning the CCIM designation while focusing his efforts primarily on Southern California. During his tenure, Jim leased or sold assets with a total value of over a half billion dollars. Jim was a top producer at Coldwell Banker Commercial WESTMAC, representing numerous local and national firms, and achieved the Circle of Distinction for every year Coldwell Banker Commercial has given the award. Jim began his Commercial Real Estate career in the research department of Cushman & Wakefield.
We are thrilled to welcome Jim into the McKinley family, states Albert M. Berriz, McKinley's Chief Executive Officer. This appointment is part of our overall strategy to position McKinley to thrive as we continue to grow and expand. Jim complements our strong existing capabilities and he is a great fit with our culture which will positively impact our customers and the services we provide to our stakeholders, shared Berriz.
Mr. Stanfill's experience, expertise and market knowledge will be instrumental to McKinley's growth throughout California and the West Coast. Jim and his wife Cindy have two daughters, and reside in Southern California.
July 18, 2013
Read this great article about Detroit's bankruptcy on annarbor.com featuring McKinley's CEO Albert M. Berriz.
July 18, 2013
Check out this great article featuring McKinley's CEO, Albert M. Berriz, on Bizjournals.com.
July 2, 2013
Check out this great article on Rejournal.com featuring McKinley's $20 million upgrade for its owned portfolio.
July 1, 2013
Ann Arbor, MI - McKinley Commercial Client Services announced today it has been retained as the Property Manager and Asset Manager for a three building, 143,500 square foot Office and Industrial portfolio in Anderson, Indiana. Two of the Office buildings are fully leased and occupied by Remy International, a 117 year-old American manufacturer with facilities in 11 countries. Anderson is the county seat of Madison County, Indiana and in 2007, was ranked 98th in the Forbes List for 100 Best Places for Businesses among Smaller U.S.
We are pleased to add this property to our efforts in Indiana, shared Matthew D. Mason, Managing Director, Real Estate, McKinley. We appreciate the opportunity to once again utilize our expertise and track record in this market for our valued client, one that we know well and have extensive experience, shared Mason.
June 26, 2013
ORLANDO, FL - McKinley has major renovations underway throughout its entire Owned Residential portfolio with a plan to exceed $20 million in upgrades in 2013. A most recent example of this work is the renovation of Conway Forest located minutes from Downtown Orlando and the Orlando Regional Medical Center. Renovations include complete exterior upgrades, upgrades of all amenities and common areas in addition to unit upgrades.
"With this undertaking, we are thrilled to deliver a superior product to our customers. We carefully listened to them and designed our renovation strategies to maximize customer engagement in the effort. Once completed, our portfolio will be extraordinary, achieving our goal to WOW our customers at every interaction," offered Albert L. Berriz, Managing Director, Owned Residential Real Estate.
"These are generational assets that are extraordinarily well located, and this investment will be transformational for the portfolio, totally enhancing the value proposition we deliver to our customers," added Albert M. Berriz, CEO and Managing Member of McKinley.
McKinley anticipates continuing the effort into 2014 at which time its communities will be substantially upgraded as part of this comprehensive strategic plan for the Owned Residential portfolio. The communities involved in the renovation effort are located in Florida, Michigan, Indiana, Illinois, and Georgia.
June 25, 2013
Ann Arbor, MI - Today McKinley announces it has successfully completed the disposition of the MEIP C Portfolio located in Lansing, Michigan. McKinley Commercial Client Services was appointed receiver of the portfolio of properties in August of 2011. The portfolio is comprised of 373,036 square feet of Office and Retail including 29 different buildings. Under McKinleys management, the occupancy was increased and the rent roll stabilized. Additionally, McKinley successfully appealed the property taxes, significantly reducing the tax burden.
We are pleased to have the opportunity to successfully reposition this asset for sale, shared Matthew D. Mason, Managing Director, Real Estate, McKinley. Our expertise and track record is longstanding in Michigan, as we have successfully owned and operated real estate since our founding here in 1968, shared Mason.
June 19, 2013
ANN ARBOR, MI McKinley, and the Detroit office of Berkadia Commercial Mortgage led by Ernie Katai, Senior Vice President and Regional Manager, closed two major HUD financings including a $15,200,000 223(f) HUD financing with an all-in rate of 3.50% for Park Place Apartments, a 312 unit community located in Ann Arbor, Michigan, and a $18,000,000 223(f) HUD financing with an all-in rate of 3.57% for Meadowbrook Village Apartments, a 217 unit community also located in Ann Arbor, Michigan.
McKinley and Berkadia have recently originated and together closed over $230 million in HUD financings for various McKinley communities located in numerous states including Illinois, Indiana, Florida and Michigan.
"We continue to have great success with our pipeline effort shared Kenneth P. Polsinelli, Chief Real Estate Officer, McKinley. McKinley's designated HUD team within Berkadia is allowing us to move quickly and take advantage of this very favorable interest rate and financing environment," said Polsinelli. He added, "The results speak for themselves and it is clear that Berkadia is uniquely qualified to originate a very large volume of HUD financings for us with superior execution."
"We hope to refinance most of our long term holdings with 35 year debt at rates in the 2.5% to 3.5% range once completed. These are generational assets and the very favorable debt will be enormously accretive to long term asset value," added Albert M. Berriz, McKinley's CEO.
June 18, 2013
Read all about McKinley's HUD financing on Globest.com