News


March 11, 2019

McKinley is honored to be partnered with the Taylor School District program, "Beyond Basics".  CLICK HERE

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February 27, 2019

Rolling Meadows just listed in Fowlerville, MI. CLICK HERE

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Tags:   Disposition

February 26, 2019

Albert M. Berriz to sit on the Infrastructure Policy Panel March 4, 2019. CLICK HERE

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February 21, 2019

ANN ARBOR, MICH.- McKinley Companies, one of the nation’s largest residential and commercial real estate development companies, is teaming up with Schoolcraft Community College to help hire and train building maintenance professionals for employment at the company’s communities throughout Ann Arbor and Ypsilanti.

 

Applicants are currently being sought to fill a four-week paid Maintenance Apprenticeship Program that begins on Monday, April 11, 2019. The training program was designed by the Schoolcraft Business Development department and will be led by a Schoolcraft instructor on-site at one of McKinley’s communities. 

 

Those selected to join the program will transition into a full-time maintenance tech role with McKinley upon successful completion. The starting wage for the positions is $13.50 per hour, plus a generous benefits package for those who meet minimum qualifications.

 

“The first year of this apprenticeship was extremely successful. Over the last year, we have had great employee retention as well as promotions which is tremendously exciting.” said Will Epps, Associate Vice President of Operations at McKinley. “I am excited to partner with Schoolcraft for this second year of the apprentice program and continue to give back to our community by providing education and careers.”

 

Those interested in joining the program should attend one of two informational sessions at the Glencoe Hills Apartments clubhouse, located at 2201 Glencoe Hills Drive in Ann Arbor. 

 

These two-hour informational sessions will be held on Thursday, March 7, 2019 (10 a.m. – 2 p.m.) and Tuesday, March 12, 2019 (3 to 5 p.m.). Each session will cover “A Day in the Life of a Building Maintenance Professional,” including a video presentation, open dialogue with industry experts, and details on compensation and benefits.

 

The program includes 60 hours of Schoolcraft instructor-led classes over four weeks that will focus on appliance repair, drywall installation and patching, basic plumbing and electrical repair and painting.

 

“Schoolcraft College Workforce Training Solutions is excited to partner with McKinley to provide this innovative work-based learning program for new property maintenance staff,” said Sandra Miller, Schoolcraft’s Business Development Center Project Coordinator. “This custom-designed program will give McKinley’s newly hired staff extensive hands-on training to ensure success in the property management maintenance field.”

 

Any interested candidate:

 

Must be 18 years old or able to obtain a work permit.

Must have access to a vehicle and hold a valid driver’s license.

Does not use drugs and must pass a drug screen and background check.

Must have good fine motor skills, like using hand/power tools and have the willingness to learn on the job.

Must enjoy providing excellent customer service for community members.

Must adhere to McKinley dress code policies, which does not allow visible tattoos or piercings.

 

For more information or to ask questions about the Maintenance Apprenticeship Program please call 734-274-6326.

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January 8, 2019

Berkadia Completes Sale of Multifamily Property in Indiana.  To read more about it CLICK HERE

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December 20, 2018

Ann Arbor, Mich.- Albert M. Berriz, CEO, Board Member, Managing Member and Co-Owner, announced today that McKinley had completed the first phase of its strategic disposition effort for its non-core Multifamily holdings. The total transaction size was 1,614 units and the properties sold were located in Illinois, Indiana and Georgia. McKinley retained the partnership of Berkadia and Consortium Capital to execute this complex multi-state disposition effort, which it completed in record time.

 

“We are very pleased with the overall effort to date and we look forward to completing the remaining phases of our plan in 2019,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “We continue to match the disposition effort with continued growth in our core markets of Orlando, Florida and Ann Arbor, Michigan (Washtenaw County), and our expanding portfolio of investment grade NNN real estate holdings,” further offered Collison. 

 

“This effort is an integral part of what has made McKinley a generational real estate enterprise with a fortress balance sheet, extraordinary real estate, and most importantly, amazing people that do the unbelievable every single day,” offered Berriz. “We are caring, hardworking, positive and diverse people; we work shoulder-to-shoulder in the field where EVERYTHING we do happens; we are passionate about serving (customers, colleagues, clients and partners) and being "extraordinary" is a cultural way of life!” added Berriz.

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Tags:   Financing

December 14, 2018

Winter Park, Florida - The McKinley Companies announced today the acquisition of Sapphire Winter Park Apartments, a 348-unit garden apartment community located in Winter Park, Florida. Sapphire Winter Park joins Indigo Winter Park, Azure Winter Park and Serena Winter Park to complement its Winter Park holdings, a sub-market McKinley has been actively owning and operating Multifamily investments in since 1985 and in Orlando since 1982. McKinley will undertake a multimillion-dollar renovation of this community to include all brand-new condominium grade interiors, extensive exterior upgrades, as well as improvements to the amenities, market window and grounds. This major renovation effort will start immediately, and residents will enjoy very significant enhancements to their customer experience in early 2019. 

 

“The acquisition was part of a complex 1031 exchange transaction involving the sale of a property located in Champaign, Illinois and another property located in Indianapolis, Indiana,” offered Harry Collison, Senior Vice President and Managing Director – Acquisitions and Dispositions. “In classic McKinley style and effectiveness, we were able to close on the acquisition of Sapphire Winter Park in just 32 days from contract execution,” further offered Collison.

 

“Our team has lots of confidence in the Winter Park sub-market and we look forward to bringing Sapphire Winter Park into our McKinley family,” offered Albert M. Berriz, Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley. “This location as well as the very large apartment sizes available for us to work with make it a perfect addition to our Winter Park portfolio. Our team led by Albert L. Berriz, Executive Vice President and Managing Director for Owned Multifamily Residential and The McKinley Companies, really set a new standard for this sub-market with their recent efforts at Serena Winter Park. They will take a lot of those positive experiences they learned at Serena and leverage them to create an exceptional outcome for our customers at Sapphire. This is without question a classic generational asset that we will be very proud of for many years to come, and we will make a considerable investment in the physical plant commensurate with that long-term view to create excellence in customer experience,” further offered Berriz.

 

McKinley secured long term fixed rate financing for the acquisition and redevelopment of Sapphire Winter Park from Canadian Imperial Bank of Commerce (CIBC). “We have had a very close relationship with the leadership team at CIBC for over three decades,” offered Berriz. “We cherish our relationship with them, they are always there for us, and they are a critical part of our McKinley family,” further offered Berriz.

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Tags:   acquisition

December 13, 2018

Berkadia Completes Sale of Multifamily Property in Illinois. To read more CLICK HERE

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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

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