News


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.

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Tags:   Financing

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.

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Tags:   NNN

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. 

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Tags:   award

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 rcaswell@mckinley.com or (734) 389-8387. 

 

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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:

http://mckinleyflport.berkadiarea.com  
http://silverlkhills.berkadiarea.com
http://Ridgecrest-GA.BerkadiaREA.com 
 

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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:

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Tags:   Sale

August 28, 2018

ANN ARBOR, MI. - McKinley is proud to announce its own Albert M. Berriz, CEO, Co-Owner and Managing Member & Ambassador Ronald N. Weiser, Founder have both been awarded the honor of being named to the DBusiness 500 Most Powerful Business Leaders in Metro Detroit. 

 

Every year DBusiness composes the Detroit 500, a comprehensive list of the most powerful executives in more than 30 industries across metro Detroit and Michigan. The list is highly selective and was compiled based on a number of factors including the size of a given company or organization, growth rate, geographical reach, and extensive personal contacts.

 

“Ron and I are honored to receive this recognition and to be included with this important group of honorees,” states Berriz. “We are proud most of our people and of all that they have accomplished during our 50-year track record, both in the Detroit region as well as nationally,” added Berriz.

 

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Tags:   Awards

July 31, 2018


Inverness, Florida - As The McKinley Companies celebrates 50 years in business, it has completed a major milestone to position its generational business for the long term with its sight on the future. After over three years of significant planning and execution, McKinley has successfully exited the ownership of all retail assets with the sale of Citrus Center, a 142,196 square foot retail center located in Inverness (Tampa), Florida.

“We have built an extraordinary real estate investment business and selling our retail assets has significantly reduced our balance sheet risk, and it has also taken us back to our roots as predominantly an all Multifamily business and now with a select portfolio of high quality investment grade NNN assets,” offered Albert M. Berriz, CEO, Co-Owner and Managing Member. “We are very pleased as we have been able to maximize sale prices and asset value in all cases in this environment as we have disposed of our retail assets, and now we look forward to our next 50 years with a fortress asset and balance sheet position,” further added Berriz.
 

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June 8, 2018

OCALA, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment in Ocala, Florida.  This new construction property is occupied on a long-term lease by a Wal-Mart Supercenter, located in a highly visible premier retail corridor. The acquisition is part of McKinley’s strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise.

 

“We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade,”offered Jim Willett Senior Vice President & Managing Director –Finance.  “This is particularly important for us in a rising rate market. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett. 

 

This acquisition is financed as part of a $50,850,000 10-year structured financing with CIBC for McKinley’s owned Triple Net portfolio.  The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility McKinley needs to manage this portfolio in the future.

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Tags:   NNN

May 23, 2018

ORLANDO, FL. - The McKinley Companies announced today the acquisition of a Triple Net investment located in Orlando, Florida. This property is a newly constructed, free-standing Dunkin Donuts with a drive-thru and strategically located in the Orlando tourist area next to Universal Orlando resort.

“This real estate is in a very special location.  A large number of the apartments we own in central Florida are within a few miles of this asset,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley.  “The theme park market is booming, and we anticipate further growth in this region which makes the Triple Net location very attractive to us," further offered Berriz. 

McKinley secured long term structured financing for a pool of NNN assets with Comerica Bank, N.A., one of McKinley’s most trusted and long-term banking relationships. “Comerica is a key partner and they strategically provided financing for us with terrific terms to allow us to position these assets for the long term. The pool is made up of select NNN assets consisting of two Sun Bank, N.A. bank locations in Gainesville and Lakeland, Florida, a Fifth Third Bank branch located in Windermere, Florida near Walt Disney World and two food & beverage properties also in Central Florida which includes this Dunkin Donuts and a Kentucky Fried Chicken in Orange City,” offered Jim Willett, Senior Vice President & Managing Director – Finance.

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