July 24, 2012
ANN ARBOR, MIMcKinley is pleased to announce the successful workout of the Olympic Corporate Center, an 88,045 square foot office building in Erlanger, KY. McKinley was appointed the receiver of the asset in December of 2009. During its management tenure, McKinley positioned the center for sale by stabilizing the buildings rent roll with more than 15,000 sq ft of completed leases, providing more efficient and better management and operations, as well as solidifying tenant relationships.
We appreciate the opportunity to be involved in the repositioning of the Olympic Corporate Center on behalf of our valued clients and stakeholders," commented Matt Mason, Senior Vice President and Managing Director of Real Estate at McKinley.
"Matt Mason and his entire team have done an extremely excellent job in repositioning the Olympic Corporate Center," added Albert M. Berriz, CEO of McKinley. "We are pleased to have again produced a great result for our valued client."
July 23, 2012
Dear McKinley Family,
I am excited to announce a new opportunity and role for career growth: Associate Director of Operations. These will be critical leadership positions within Owned Residential, reporting directly to me, responsible for achieving specific operational targets, delivering financial results, and solving problems in the field at our communities every week. In this role, you will partner very closely with Betsy, Chris, Hugh, Brent, & I to receive assignments and execute on deliverables.
In order to be considered for this position you must be or become a Community Manager and produce excellent results consistently.
Excellence in the Community Manager role is measured through performance within monthly missions (Silver, Gold, Platinum), quarterly financial results, renewal performance, and physical community/product appearance. I also look for great communicators, including staying connected to leadership on a regular basis, providing insightful feedback to team members, and building a cohesive team through clarity of purpose and responsibilities.
Associate Directors will be assignment/project based instead of portfolio based. In other words, instead of having a static set of properties that you are responsible for over time, you would be given new assignments at different locations each week or month based on the needs of the business. I will be looking for Associate Directors in both the North & South, so geography is not a limitation for anyone.
I have included below a snapshot of important qualifications. You can also use this as a roadmap for your personal development.
Qualifications & Responsibilities:
#1 - Has consistently delivered excellent results as a Community Manager at McKinley.
#2 - Evaluates performance of their own team and team members objectively and critically.
#3 - Delivers high quality written and verbal feedback in a constructive way. Does so frequently.
#4 - Mastery of best practices across all operational topics (sales, renewals, work orders, turns, expenses, collections) and the ability to hold others accountable to these standards.
#5 - Needs to be very organized and have a high degree of follow through; there can be no slack in the execution of objectives.
#6 - Leads by example through outstanding customer service.
#7 - Takes direction and feedback very well, craving learning opportunities and personal development.
#8 - Demonstrates a very clear understanding of expectations for product excellence.
If you are interested in this opportunity, please let me know so that we can discuss next steps. Whether you believe you are ready now, or want to be there in 3, 6, 12 months, I am excited to hear from you to discuss this opportunity!
Albert L. Berriz
Vice President & Managing Director, Residential Real Estate
July 19, 2012
Ann Arbor, MI McKinley is pleased to announce that the Janaf Shopping Yard in Norfolk has been selected for the 2012 Best of Norfolk Award in the Shopping Centers & Malls category. Each year, the Norfolk Award Program identifies companies that they believe have achieved exceptional marketing success in their local community and business category, as well as enhance the positive image of small businesses through service to their customers and their community. Various sources of information were gathered and analyzed to determine the winners based on the information gathered both internally by the Norfolk Award Program and data provided by third parties.
"McKinley is extremely honored to be selected as the winner in the 2012 Best of Norfolk Award for shopping centers and malls at our Janaf Shopping Yard," said Albert Berriz, CEO of McKinley. "This is an outstanding tribute to the entire McKinley team at Janaf and I would like to commend them for their efforts and success."
July 17, 2012
Ann Arbor, MI McKinley is pleased to announce that it has been ranked the #6 property owner in the Midwest in the latest issue of Midwest Real Estate News. McKinley currently has more than 19 million sq. ft. of multifamily, office, retail, industrial, seniors housing and student housing under ownership and management. McKinley was also ranked #12 in the Midwest market for total property management services with more than 43 million sq. ft. under management, including 21,695 apartment units, and was ranked #13 as a financial intermediary with more than $211 million arranged in 2011.
"McKinley is extremely honored to be this highly ranked as a property owner, property management specialist and financial intermediary in the latest issue of Midwest Real Estate News," said Albert Berriz, CEO of McKinley. "We are extremely pleased with the growth of our real estate platform and look forward to continuing to grow in 2012, especially with our newly formed purpose built student housing division. We would also like to thank all of our clients who have allowed us the opportunity to provide them first class asset management, as well as the entire McKinley team for providing industry leading services."
July 10, 2012
Ann Arbor, MI McKinley announced that it has acquired 192 condominium homes at Magnolia Place Townhomes in Gainesville, FL on behalf of its client, Karlin Real Estate. In total there are 332 homes at Magnolia Place Townhomes consisting of enormous 2 and 3 bedroom town homes. McKinley's current plan is to continue to provide high-quality rental homes for the current residents and the Gainesville community. McKinley has also provided management services to the community since 2009.
"McKinley is extremely excited to acquire the remaining condo homes at Magnolia Place Townhomes on behalf of our client Karlin Real Estate," remarked Albert Berriz, CEO of McKinley. "This is an absolutely beautiful community that we have successfully managed for the past 3 years and we look forward to continuing to our management services for our partners at Karlin Real Estate."
July 1, 2012
ANN ARBOR, MICHIGAN Albert M. Berriz, CEO and Alexandra Jackiw, Vice President and Managing Director Residential Client Services of McKinley announced today that they have hired Therese Cochran as Director of Student Housing Services to lead McKinley's new Purpose Built Student Housing platform. While this is a new addition to McKinley's current real estate platform, McKinley's roots run deep in student housing having started as a student housing operator in 1968. McKinley has also followed an acquisition strategy of buying quality garden apartments in tertiary college student markets like Ann Arbor, Champaign, and Gainesville throughout its history.
"Alexandra Jackiw and Therese Cochran are highly respected leaders in purpose built student housing, as well as having extensive experience in managing high quality assets and receiverships nationwide," said Albert Berriz, CEO of McKinley. "Our new Purpose Built Student Housing platform is a natural enhancement to our core apartment business since most of our communities are built in college towns and the McKinley marketing team is a leader in social media and tribe marketing which is extremely crucial for these customers."
"Therese and I look forward to building out a great new addition to the McKinley real estate platform," commented Alexandra Jackiw. "Therese and I have worked successfully together and are excited to have the opportunity to lead and create a new successful real estate group for McKinley in the student housing industry."
"I too am excited about the opportunity ahead and again look forward to working with Alexandra Jackiw," exclaimed Therese Cochran, the new Director of Student Housing Services for McKinley. "Alex and I have been presented with a great opportunity and we look forward to working together to make McKinley a leader in the student housing industry."
June 28, 2012
MIAMI BEACH, FLORIDA McKinley is pleased to announce that the11th Judicial Circuit for Miami-Dade County, Florida,has appointed McKinley the Receiver for the former Golden Sands Hotel in Miami Beach, Florida. The Golden Sands was a 100-room oceanfront hotel constructed in 1951.
The project was slated for redevelopment as a luxury hotel adjacent to the Canyon Ranch Miami Beach development until the recent economic downturn ground the redevelopment to a halt.
The Court and all of the parties recognized McKinleys expertise at resolving complex situations and creatively producing the greatest possible value said Matthew Mason, Managing Director, Commercial Client Services. We are passionate about building upon our 44-year track record of success to provide the best outcome for all of the stakeholders.
Golden Sands represents the eighth active commercial workout property for McKinley in the state of Florida, its fourth hotel assignment and the fifty-fourth assignment in Florida.
June 21, 2012
MOORHEAD, MINNESOTA McKinley is pleased to announce that theSeventh Judicial District for Clay County, Minnesota,has appointed McKinley as Receiver for EasTen Shopping Center. EasTen is a 125,555 square foot retail center located in Moorhead, Minnesota. The center is approximately 87% occupied and tenants include Cash Wise Foods, Sears, Payless Shoe Source, Fashion Bug and Sherwin Williams.
The addition of EasTen Shopping Center increases McKinleys commercial workout portfolio in Minnesota to 900,000 square feet.
This assignment allows us to leverage our platform and the team that we have built in Minnesota, said Matthew Mason, Managing Director, and we are looking forward to resolving another troubled asset in this community.
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 create value for all of the stakeholders, added Albert M. Berriz, Chief Executive Officer.
June 19, 2012
Ann Arbor, MI - McKinley is proud to announce the promotion of Maggie Corbin to Property Manager for JANAF Shopping Yard. JANAF is the largest asset in the McKinley commercial portfolio, and is a destination location for residents of the Hampton Roads communities.
Ms. Corbin inherits responsibility for this key asset from Diane OBrien, who is retiring in September after twenty five years of leading the team at JANAF. Maggie joined the JANAF team in April 2007 and has excelled in multiple roles. She began on the front line as a Tenant Service Coordinator insuring that our tenants had great service, and she was promoted to Property Manager for a number of smaller assets. Most recently, she has served as Property Manager on our Commercial Client Services team leading workouts for our select clientele in Indiana, Kentucky, New Jersey and Virginia. Maggie returns to JANAF to lead this team and to create value for our tenants. Maggie is incredibly familiar with the property and the tenants at JANAF, said Diane OBrien and I am excited to have her leading this team.
"Maggie has been a rising star at McKinley for several years. She lives McKinley's core values and has taken on new assignments with excellent results, stated Thomas Gritter, VP & Managing Director. She is very deserving of this promotion!"
June 14, 2012
FLINT, MICHIGAN McKinley is pleased to announce that it has been appointed receiver for Kings Lane, a 378 unit apartment community in Flint, Michigan.
McKinley was appointed by the United States District Court, Eastern District of Michigan, Southern Division to protect the asset and to manage the community. McKinley, or its principals, has been named as Receiver over 150 times across 14 states, and this appointment represents McKinleys 50th appointment in Michigan.
We are recognized across the real estate community as a leader in resolving distressed assets, said Kenneth P. Polsinelli, Chief Real Estate Officer, and we are pleased that we are able to use our talents in Michigan in this challenging situation.
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, stated Albert M. Berriz, Chief Executive Officer.