News


November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

McKinley, thanks to a strong partnership with Ernie Katai and his team at Berkadia, is pleased to announce the closing of a $30,580,000 loan with the Department of Housing and Urban Development on Glencoe Hills apartments, in Ann Arbor, Michigan.

Ken Polsinelli, Chief Real Estate Officer:

This important loan reflects the significant investment that McKinley continues to make in its communities. McKinley's long-term investment in our people and in our real estate, in combination withour passionate commitment to "WOWing" our customers, enabled our team to excel and to take advantage of this opportunity. We are thrilled with this display of confidence by the capital markets, particularly in these difficult times, and we are even more pleased that this result will allow us to provide for our team members and customers in Washtenaw County.

Jim Willett, Treasurer:

"The Glencoe Hills loan is a first step in a series of transactions that begins to position our owned assets with long term financing while lowering the overall cost of capital and debt service. The thirty-five year term is a perfect match for our long term investments in apartment communities and allows for flexibility in the future on refinancing. The effective execution by Berkadia and an internal team across disciplines within McKinley made the delivery flawless on this $30,588,000 loan."

Albert M. Berriz

"We cherish our long term partnership with Ernie and his team at Berkadia and our good friends at the Department of Housing and Urban Development. This transaction is an important element in our very favorable positioning of our balance sheet for the long term"

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November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

Norfolk, VA DEALS, a bargain-hunter store acquired by Dollar Tree in 2006, opened its doors on Friday, October, 29thto a filled parking lot at the McKinley JANAF Shopping Yard in Norfolk, VA. The grand opening of their new flagship store is one of over 150 stores located in malls around the country. The new bargain store location will serve as a model for future DEALS locations.

McKinley renovated the existing Dollar Tree store, expanding the commercial space by 8,375 square feet to make the new DEALS store 19,599 square feet. McKinley also added a new faade to create a fresh new look.

The Dollar Tree executives were pleased with the final product and the grand opening of their new flagship store. In an email to Joel Evans, the Regional Director of Leasing for McKinley at the JANAF Shopping Yard, Doug Webb of Dollar Tree noted, I appreciate your hard work and results more than you know, Joel.

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November 2, 2010

November 2, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

McKinley is pleased to announce the successful disposition of Pine Circle townhomes on behalf of our client. Pine Circle is a 56 unit community located in Grand Rapids, MI. McKinley managed the property since September, 2009.

Albert M. Berriz, McKinley CEO:

I am once again excited to announce the successful Mckinley disposition of Pine Circle today for our client. We are extremely pleased with this outcome for our client.

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October 26, 2010

For Immediate Release

McKinley CEO, Albert Berriz, announced on Sunday that Thomas Shanabruch, Joanna Dettling, Albert L. Berriz, Ping Dai, Tom Gritter and Matthew D. Mason have agreed to make a greater commitment to the long-term vision of McKinley by taking on major CEO report roles as well as new leadership positions with the organization.

Addressing the long-term vision, Berriz noted, We continue to march forward with our efforts to grow our Residential and Commercial Client Services groups. We also march forward with our Long Term Management and Joint Venture efforts that many of you have heard me speak about with regards to our McKinley 2020 vision. The CEO will be holding town hall meetings internally on the subject.

These promotions reflect McKinleys long-term outlook within the real estate market, the organizations dynamic approach, and (perhaps most importantly) McKinleys commitment to developing already talented adroit people into world-class leaders.

Giving a preview of the steps the CEO will be making over the next year, Berriz outlined how the new leadership positions will function in an email sent to the entire organization:

Thomas Shanabruch - Becomes Vice President & Managing Director - Residential Client Services Group. As a CEO report, Tom leads Residential Client Services and most immediately, Mel Zimmerman will be reporting to Tom. Garrett Hain will report to Tom at a later date once Tom transitions the responsibility of his asset management team. Tom has my complete confidence and he has done all the right things to earn this most important promotion. Expect to see great things from our Residential Client Services Group under Tom's leadership!

Joanna Dettling - Becomes Vice President & Managing Director - Real Estate Services. As a CEO report, Joanna becomes our primary contact to our most sophisticated relationships in our residential client services, residential long-term management, and joint venture worlds. I will be transitioning Joanna's current responsibilities, and that search is well underway. Once that transition is complete, those areas of the business will report to Thomas Shanabruch, and become part of his RCS team. Joanna will Partner with Thomas on client services, with Albert L. Berriz on Long Term Management and with Matt Mason on Joint Venture efforts. Thomas, Albert and Matt will lead the real estate efforts, and Joanna will lead the relationship management efforts with our clients. Joanna is uniquely qualified for this opportunity given her sophisticated financial background; she has my complete support and admiration, and has proven to be a skilled relationship manager. Watch for great things from Joanna!

Albert L Berriz - Vice President & Managing Director - Owned Residential Group will Partner with Joanna on Long Term Management efforts in Florida and leading our McKinley Owned Residential business. Florida is a huge part of our Long Term Management growth, and the Albert/Joanna partnership will be the engine for that growth. The Elements in Orlando and Bloomingdale Woods in Valrico, a suburb of Tampa, are excellent examples of that success. Kelly Schultz as AVP and Regional Director is reporting to Albert leading those efforts. Albert will also partner with Joanna, Thomas, Tom and Matt as we bring major initiatives underway in Owned Residential to the entire McKinley platform. This partnership is very exciting to me on many levels as the innovative work Albert and his team have accomplished goes viral throughout the enterprise!

Matt Mason - Becomes Senior Vice President & Managing Director - Real Estate. Matt has a very special role for our future. In addition to continuing his leadership of Commercial Client Services, Matt now leads our Joint Venture efforts, both commercial and residential. Matt will Partner with Joanna as Matt leads the real estate efforts and Joanna the relationship management efforts on Joint Ventures. Matt is one of my most trusted advisors and executives, and everyone should expect to see great things from Matt as our Joint Ventures become a solid part of our McKinley 2020 future!

We invest in People and Real Estate, and I will always say "People" in that sentence first! The most important part of this announcement is the opportunity it brings for ALL of YOU!

These opportunities, and our growth, are very exciting, but it is absolutely reliant upon the talented people we have as McKinley team members. I invite you to ask yourselves what you are interested in doing next - what could you be doing above and beyond your current responsibilities? These conversations you have with your supervisors and HRD partners are super critical to our growth. Take an active role in your personal development today - your future is only limited by your willingness to invest in yourself!

Please send me your questions and comments on my message, your feedback is very important to me.

Thanks everyone!

Albert

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October 6, 2010

October 6, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

McKinley Residential Client Services is pleased to announce that we have begun operations as Manager of Casa Los Pinos, a 386 unit property located in Norcross, Georgia.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.

-END-

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October 6, 2010

October 6, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

FOR IMMEDIATE RELEASE

We are pleased to announce that McKinley is being recognized as a Detroit Free Press Top Workplace this year! For this award year, the Free Press expanded their search and accepted nominations of companies statewide, looking for the best places to work throughout Michigan. The Detroit Free Press in conjunction with its research partner, Workplace Dynamics, followed a strict survey and interview process to narrow down and select what will be publically recognized as theDetroit Free Press 2010 Top Workplaces. The Free Press received the most nominations ever, totaling more than 950 companies.

We are proud to be selected as one of the Top Workplaces in Michigan by the Detroit Free Press, states Albert M. Berriz, Chief Executive Officer. I believe this distinction recognizes our fundamental belief that we invest in people and real estate. I will always make this statement saying people first. I am very thankful to the Detroit Free Press for their continued efforts in support of the business community and the revitalization of the state of Michigan.

We wish to thank all of the Michigan-based team members who participated in the survey, garnering us this distinction.

-END-

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September 23, 2010

Midwest Real Estate News: How has McKinley made it through this rough commercial real estate market so far?
Albert Berriz: First of all, it helps to have some perspective. Ive been in this business a long time. There have been similar down times in commercial real estate throughout the decades. People think this is unusual. Its not. All of the other down times in this business have taken several years to work themselves out, too. People sometimes lose touch with this.
The reason weve stayed successful during these times is because of our people. If you go through our operation, youll find executives that have been with us for 10, 20, 30 years. That experience helps. I also require that all of our executives also be excellent operators. You cant separate the two. If you buy a building, you have to know going in how to operate it.

MWREN: Were always looking for signs of hope in this market. Do you see any positive signs as you look at the commercial market across the country?
Berriz: I do see the end to this market. But the end is not near. I dont see a turnaround until 2013 or 2015, and Id lean more toward 2015. If you think about it, though, while this may be a protracted downturn, its not an uncommon one. We saw similar downturns in the 70s and in the late 80s. Of course, a lot of people working in the business today were not in the business during those down times. They dont have the perspective that people with more experience have.

MWREN: It seems, then, that these protracted downturns are simply a symptom of the commercial real estate business.
Berriz: You cant have a period of six- or seven-year growth without eventually having a downturn. Its inevitable. The real estate business always features that cycle of ups and downs. This is my fourth recession. Im not uncomfortable with them. We expand our business in down times.

MWREN: How do you grow your business in the down times? What steps do you take before they hit to make sure youre in the position to do this?
Berriz: I invest in people. Thats more important than any investment you make in real estate. Its the investments we made in people in 2000 that prepared us for what is going on now in 2010. We have such longevity in our ranks. We have leaders in position who have been with us for decades. Having superior leaders and people leads to growth for your company.

MWREN: When you look at the Midwest in particular, do you see any markets where we are seeing at least some improvements in the commercial real estate business?
Berriz: We are seeing a resurgence in parts of Indianapolis. We are also seeing a cautious resurgence in parts of Chicago.

MWREN: If you were talking to someone working in the commercial real estate market who was depressed about the current market, what would you tell that person?
Berrriz: I would tell them that this is the best time to grow professionally or to grow your business. I know that we are looking for smart, hard-working people in this market.

FULL ARTICLE: http://www.rejournals.com/2010/09/21/mckinleys-berriz-investing-in-people-pays-off-in-tough-markets/

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September 7, 2010

September 7, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley Client Services is pleased to announce that we have been appointed Property Manager for Magnolia at Sandy Springs, a 268 unit apartment community in Atlanta, Georgia.

We are excited to have the opportunity to apply our proven track record of success to assist with this asset. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets including 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.

-end-

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September 6, 2010

August 31, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley Client Services is pleased to announce the successful disposition of Greenwich Apartments. Greenwich Apartments is a 58 unit apartment community located in Toledo, Ohio. McKinley operated Greenwich Apartments under receivership since June 2009.

We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued client, states Albert M. Berriz, Chief Executive Officer of McKinley.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets including 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.

-end-

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August 23, 2010

August 18, 2010

Contact: Mary S. Williams

734-769-8520 ext. 244

For Immediate Release

McKinley Client Services is pleased to announce that we have been appointed Property Manager for Tuscan Shores, a 170 unit apartment community in Roseville, Michigan and Tuscan Creek, a 300 unit apartment community in Ypsilanti, Michigan.

We are excited to have the opportunity to apply our proven track record of success to assist with these assets. Im confident that by applying our teams passion and expertise, we will be able to enrich the quality of life and create value for all of the stakeholders, states Albert M. Berriz, Chief Executive Officer.

McKinley, founded in 1968, is a well respected national real estate investment firm that owns and operates $2.4 billion in assets including 139 properties for its own account and for select clientele. This includes 30,039 apartments and over 7.0 million square feet of commercial space located in 19 states. Headquartered in Ann Arbor, Michigan, Albert M. Berriz serves as Chief Executive Officer with 1,250 full-time employees nationwide.

For more information on McKinleys Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.

-end-

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