January 30, 2012
Read a great article about the path back to rentals in a condo conversion.
January 29, 2012
Click on the link below to read a great article about the NMHC Panel!
January 26, 2012
NOVI, MICHIGAN Matthew D. Mason, ESQ., Senior VP & Managing Director of McKinley, will be speaking Thursday, February 9, 2012 at the ICSC 2012 Michigan Continuing Education Program for Real Estate professionals held at the Suburban Collection Showplace in Novi, MI. This session will explore ways to design a program to market and even reposition properties. It will also discuss the legal and administrative pitfalls to be aware of before designing the program, such as use restrictions, exclusives, site plan amendment, rezoning and a tenants contingent liability.
Speakers on the panel also include moderator Robert A. Labelle, ESQ, Thomas W. Litzler and Jim Meinershagen. The panel will take place from 1:15 pm until 2:05pm.
January 26, 2012
LAS VEGAS, NEVADAMcKinley continues its expansion into the Las Vegas market with the management takeover ofLas Palmas Apartment Homes in Las Vegas, Nevada. This 391 unit community isconvenientlylocated just one block off the Las Vegas Strip."We like the distressed deal flow opportunities we are seeing in the Las Vegas market, and we are actively exploring several additional deals at this time" said Kenneth P. Polsinelli, Chief Real Estate Officer. "We like the long term characteristics of this market, and now begins a solid entry point in our opinion".
McKinley has established a major leadership hub in Houston out of which they are managing their western portfolio including commercial and residential assets located in Houston, Dallas, Phoenix and Las Vegas. McKinley's main leadership hubs are located in Orlando, Houston and Ann Arbor out of which they run their 25 state platform.
We appreciatethe opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders and we look forward to our continued expansion in the Las Vegas market" states Albert M. Berriz,Chief Executive Officer of McKinley.
January 24, 2012
ANN ARBOR, MI McKinley is pleased to welcome its newest team member, Clay Thomas, as Director of Commercial Portfolio Management with Commercial Client Services. As Director of Commercial Portfolio Management, Clay will oversee the workouts and management of third-party real estate assets, which include distressed assets in multiple jurisdictions throughout the country. Clays duties include relationship management, commercial portfolio management and redevelopment, lease negotiation, and acquisition and disposition. Prior to joining McKinley, Clay practiced real estate and construction law for two of Southeast Michigans leading law firms. He is a graduate of the University of Michigan where he studied Classical Studies ('97, B.A.) and Law (00, J.D.). He is a member of the State Bar of Michigan and on the council of the Real Property Law Section of the State Bar of Michigan.
Clays responsibilities will include the workout of challenging client assignments and complementing Lauren Dritz in the leadership of the team.Clays arrival at McKinley will position Commercial Client Services for continued growth in both geography and portfolio size.
Im excited about joining a successful Commercial Client Services Team and look forward to helping it continue to grow and succeed, stated Clay Thomas, Director of Commercial Portfolio Management.
January 23, 2012
Ann Arbor, MI, January 24, 2012 McKinley is pleased to announce that both Albert M. Berriz, CEO and Ken Polsinelli, Chief Real Estate Officer were elected to serve on the National Multi Housing Councils (NMHC) Board of Directors during its recently held annual meeting January 17-19, 2012, in Boca Raton, FL.
Albert M. Berriz is Chief Executive Officer, board member and shareholder of McKinley. Mr. Berriz has extensive experience in the acquisition, financing, management and redevelopment of real estate assets. He is responsible for acquiring and managing assets in excess of $7.0 billion during his career.
Kenneth P. Polsinelli is Chief Real Estate Officer, shareholder and a member of the ExecutiveCommittee. During his tenure McKinleys portfolio has increased more than 50% in its target markets. He has acquired, financed or disposed of over $2.0 billion of real estate assets across the Midwest and Southeast.
"Ken and I both look forward to working with the National Multi Housing Council in the future and feel thatour broad experience and knowledge of the multifamily market can only add to the broad wealth of experience on the NMHC Board, commented Albert Berriz, CEO of McKinley. Doug Bibby has a terrific leadership team and we look forward to working with him and the board.
January 16, 2012
NORFOLK, VIRGINIA McKinley is pleased to announce that JANAF, an 883,000 sq ft shopping center in Norfolk, Virginia has been selected for the 2011 Best of Norfolk Award in the Shopping Centers & Malls category by the US Commerce Association. The USCA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country each year.
The staff at JANAF, led by Diane O'Brien, is exceptionally well deserving of this honor!JANAF Shopping Center is in pristine condition every day and it is due to the wonderful efforts of the JANAF management team, states Thomas Gritter, Vice President and Managing Director Commercial Real Estate.
For more information on McKinleys Commercial Client Services and Property Management, please contact Thomas Gritter at 734-769-8520 x 289.
January 15, 2012
ORLANDO, FLORIDA McKinley is pleased to announce it has completed renovations on Riva Apartments. McKinley had originally purchased over half of these units as fractured condominiums in December, 2007. After acquiring the remaining units in April, 2010 McKinley was able to reconstitute the property as a garden rental apartment community. They have since executed a multi-million dollar renovation lead by Bob Hughes, Regional Facilities Director-Project Manager to better improve the quality of life for its current and future residents.
Renovations for Rivas exterior include:
significant architectural and aesthetic modification and enhancement
total asset seal and modernized color scheme repaint
replaced patio decks and landings
screened in patios
irrigation and re-landscaped
upgraded parking lot lighting
roofing and gutters
resurface and restripe parking lot
new flag poles
upgraded utility/meter structures
Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily real estate. Currently ranked #38 in the NMHC Top 50 list of national apartment management companies, McKinley owns and manages more than 33,000 units throughout 20 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as a select clientele of institutional investors, private equity clients and special servicers. McKinley is a member of the National Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO). http://www.mckinley.com
January 12, 2012
Ann Arbor, MI January 13, 2012 Albert M. Berriz, CEO of McKinley, will be speaking next Tuesday at the National Multi Housing Council (NMHC) Apartment Strategies Outlook Conference held at the Boca Raton Resort and Club in Boca Raton, Florida. This panel will explore and highlight several key areas relating to multifamily financing including:
- Deal structures in todays market
- Key equity and debt capital sources
- Return expectations
- Cap rates
- Investment strategy
- Liquidity needs
- Competition for product by type and competitor
Speakers on the panel also include moderator Scott Anderson, Senior Director, Head-Multifamily Real Estate Asset Management, TIAA-CREF Global Real Estate; Brad Blash, Chief Business Officer, Crossbeam Holdings LLC; Ed Padilla, Chief Executive Officer, NorthMarq Capital, Inc.; and Michael Tompkins, Managing Partner, TriBridge Residential. The panel will take place from 9:30 am to 10:45 am.
January 9, 2012
MIAMI, FLORIDA McKinley Residential Client Services is pleased to announce that it has commenced management at Rio Apartments in Miami, FL. Rio Apartments consists of 294 units and is approximately 96% occupied.
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 x 230.