News


August 21, 2011

Second Largest Loan in the Nation Offered by the Office of Affordable Housing Preservation in 2010

Ann Arbor, MI August 15, 2011 McKinley is pleased to announce on behalf of The City of Taylor and Taylor Community Development Corporation that all improvements to The Ponds apartment community under the Green Retrofit Project (GRP) offered through HUDs Office of Affordable Housing Preservation (OAHP) have been successfully completed within the 12 month required deadline. This program provided funding of $6,060,059 to help renovate The Ponds apartment community which will in turn reduce energy demand, lower operating costs, improve the residents quality of life and reduce the community's impact on the environment.

This GRP award was the second largest loan among more than 221 properties that received loans or grants in 2010 and provided funding for significant energy related improvements including new 95% efficient boilers and water heaters, programmable thermostats, insulation and caulking/weather stripping. In addition, Energy Star refrigerators and dishwashers replaced old appliances that were inefficient and outdated. All residents at The Ponds also received new Energy Star air conditioning units in their apartments which is the first installation for these homes. Other interior apartment improvements included cabinet and counter top replacements, new doors, new carpeting, water-saving toilets, new exhaust fans and energy efficient interior lights. The exterior improvements on the property included new roofing, new energy efficient exterior lighting systems and repairs to all of the roads, service walks and sidewalks.

This project has helped to remodel and retrofit this 511 apartment home community in an energy efficient and environmentally friendly way," says Keith Hayward, Managing Director for McKinley. "The interior improvements have created new homes for our residents and the exterior improvements have created a more positive environment. The quality of life for our residents has been greatly enriched through the Green Retrofit Project and we are grateful to HUD for their support.

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

Contacts:

Jessica Haigh

McKinley

734-769-8528 x101

jhaigh@mckinley.com

Leigh Curry

Curry Conduit Services

609-882-3868

lcurry@curryconduit.com

About McKinley

http://www.mckinley.com

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 Multi Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO).

About Taylor Community Development Corporation

Taylor Community Development Corporation is a not-for-profit organization formed November 20, 1997 by its sole member, the Taylor Housing Commission, to provide housing for low-to moderate-income families and to acquire, renovate and operate The Parks, The Ponds, The Commons senior apartments, The Courtyards and The Springs at The Villages of Taylor located within the City of Taylor

Read More


August 18, 2011

PORT CHARLOTTE, FLORIDA-McKinley is pleased to welcome Florida Souvenirs and Gifts to its 185,000 square foot Village Marketplace shopping plaza in Port Charlotte, FL. Florida Souvenirs and Gifts is a local business selling t-shirts and other accessories in the Port Charlotte area.

Tom Gritter, Vice President and Managing Director of Commercial Real Estate had this to say Were delighted to have Florida Souvenirs and Gifts at Village Market Place. We believe in supporting entrepreneurs and the operator of Florida Souvenirs and Gifts is a wonderful local entrepreneur.

Florida Souvenirs and Gifts joins Save-A-Lot, Bealls Outlet, Dollar Tree, Staples, Books-A-Million and many other national and local tenants at Village Marketplace.

For more information on retail space at the Village Marketplace, please contact Thomas Gritter at 734-769-8520 x 289

Read More


August 18, 2011

INVERNESS, FLORIDA-McKinley is pleased to announce the execution of a new 5-year lease extension with Edward Jones at its 142,000 square foot Citrus Center shopping plaza in Inverness, FL. Edward Jones is a leading financial adviser firm serving over 7 million clients in the United States and Canada.

Were delighted to welcome Edward Jones to Citrus Center. Shoppers and nearby residents will benefit from having this well-known national tenant in Inverness. States Tom Gritter, Vice President and Managing Director of Commercial Real Estate

Edward Jones joins Office Max, TJ Maxx, Golden Corral, Dollar Tree and many other national and local tenants at Citrus Center.

For more information on retail space at the Village Marketplace, please contact Thomas Gritter at 734-769-8520 x 289

Read More


August 18, 2011

NORFOLK, VIRGINIA-McKinley is pleased to announce that TitleMax has signed a lease at JANAF Shopping Center. TitleMax is one of the nations largest title lending companies with more than 500 locations in seven states. Their mission is to provide financial products to people without access to traditional credit alternatives.

We welcome this addition to JANAF.

For more information onretail space at the JANAF Shopping Center, please contact Thomas Gritter at 734-769-8520 x 289

Read More


August 18, 2011

NORFOLK, VIRGINIA-McKinley is pleased to announce that Liberty Tax has signed a lease at JANAF Shopping Center. There are more than 3,800 Liberty Tax Service offices operating in the United States and Canada, and 136 offices in Virginia. Liberty Tax has seen very successful growth over the past few years and the number of franchises has gone up rapidly. Liberty Tax can help you prepare your individual tax return, as well as offers tax education classes and loan information.

Liberty Tax will be a strong tenant to add to the mix at JANAF.

For more information on leasing at the JANAF Shopping Center, please contact Thomas Gritter at 734-769-8520 x 289

Read More


August 17, 2011

Ann Arbor, MI McKinleys Residential Client Services team is pleased to announce that it has been appointed Receiver for a 14 asset multifamily portfolio spanning over 6 states. This 3,709 unit portfolio includes 7 assets in Texas which marks McKinleys first expansion into the Texas market. This appointment is also is one of the five largest multifamily assignments in the CMBS market in 2011.

This receivership appointment is a testimony to the expertise and value creation that McKinley offers, said Albert M. Berriz, Chief Executive Officer of McKinley. We have become the go-to company for distressed assets based not only our great track record of repositioning distressed assets, but our ability to revitalize apartment communities in an extremely timely manner. We are gratified by the confidence of the Court and the market in our abilities, and for the opportunity that this transaction provides for our team. The complexities inherent in this assignment create many challenges but also provide the most potential for improvement. We are excited about enriching the quality of life in these communities and we expect a successful outcome for all of the stakeholders in this deal."

This appointment represents the 107th court appointment of McKinley to workout distressed real estate since the beginning of the financial crisis.

About McKinley

http://www.mckinley.com

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).

For more information on McKinley's Residential Client Services, please contact Kenneth P. Polsinelli, Chief Real Estate Officer at 734-769-8520 x230.

Read More


August 5, 2011

ANN ARBOR, MI McKinley is pleased to announce that The Onion has signed a lease to occupy space at the offices in Liberty Square at the McKinley Towne Centre. The Onion, Americas Finest News Source is a weekly publication that is published on Thursdays. The Onion features satirical articles about international, national and local news. The Onions print edition is currently distributed in 11 cities. The company franchises, and Bobby Mitchell thought there was a need for Ann Arbor, and he leased up the office so his writer could have a great downtown location.

Were delighted that The Onion has chosen to locate their Ann Arbor office at the Offices at Liberty Square. The Onion is an innovative and entrepreneurial company and recognized that Liberty Square is a hub for entrepreneurial organizations within Ann Arbor. States Thomas Gritter, Vice President & Managing Director, Commercial Real Estate.

For more information on the offices at Liberty Square at the McKinley Towne Centre, please contact Thomas Gritter at 734-769-8520 x 289

Read More


August 3, 2011

ANN ARBOR, MICHIGAN McKinleys Commercial Client Services group has completed another successful workout. The property is a 40,000 square foot office and industrial building in the Avis Farms office park in Ann Arbor, Michigan. McKinley assumed management of the asset in August, 2010 and immediately began positioning the building for sale

Read More


August 2, 2011

ANN ARBOR, MI Albert L. Berriz and Albert M. Berriz are pleased to announce that David Hyde and Hugh Osborne have joined McKinley as Regional Directors for our Owned Residential Portfolio.

David has over 20 years in multi-unit management. For the past 6 years he has been with Accor North America where his arearanked 2nd out of 42 areas in the country. Previous to Accor David worked for MOA Hospitality for 15 years. There he started as aGeneral Manager progressing to Regional Vice President managing various areas of the country. David believes in maintaining a strong team andworking with them providing them wi th the tools to succeed is a constant focus. He always tells his team that Our service has to come first.

Hugh Osborne has a diverse management background with 14 years of multi-unit experience. After earning a BA in History and a Certificate in Education, Hugh began a 22-year career with brands such as Marriott, LaQuinta, Choice, and independent hotels operating on both traditional and extended stay models. During his most recent Regional Director role with Royco Hotels, his properties led the company in in revenue growth and customer service scores. Hugh has a flexible leadership style where fun, strong relationships, attention to excellence leads to impressive results.

What we're looking for at McKinley is leaders who are honest, transparent, and willing to make tough decisions. Hugh Osborne & David Hyde embody these traits and more. Adding them to our leadership team is another step toward "WOW!" customer service at every interaction states Albert L. Berriz, Managing Director Owned Residential Real Estate.

Read More


July 10, 2011

OTSEGO, MINNESOTA McKinleys Commercial Client Services is pleased to announce it has been appointed receiver for Marketplace West, a 31,500 square foot retail center in Otsego, Minnesota. Marketplace West represents the sixth commercial work out assignment within the state of Minnesota in 2011.

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

For more information on McKinleys Commercial Client Services and Property Management, please contact Matthew D. Mason at 734-769-8520 x267.

Read More


Tagged

Archives