January 28, 2015
Kenneth P. Polsinelli, McKinley’s Chief Real Estate Officer, announced today the acquisition of Iris Flats located on Semoran Boulevard and State Road 408 (Spessard L. Holland East-West Expressway). Iris Flats now joins Conway Forest in McKinley's Downtown Orlando portfolio, and is minutes from its Winter Park portfolio and its Orlando Airport portfolio along Semoran Boulevard.
"McKinley has owned and operated quality apartments in Orlando since 1982, and this acquisition expands our portfolio of offerings further and provides additional options for our customers in the Downtown and the Orlando Regional Medical Center area," states Polsinelli.
Plans for this latest acquisition include extensive interior renovations with all new kitchens and baths, the addition of washer-dryers in all units, and a comprehensive exterior renovation of the buildings, grounds and amenities as well.
"Our experience and proven track record as a major apartment renovator allows us to acquire older communities in extraordinary locations and execute transformational change to the assets. Once the renovations are completed, Iris Flats will compete head on as an excellent option in the marketplace for those customers who work either in the Downtown or at the Airport, or for customers who prefers to be close to the retail, entertainment, and restaurant options just minutes away in Downtown Orlando," added Polsinelli.
McKinley, a privately-held family business, has extensive multifamily holdings throughout Central Florida including residential communities located in Daytona Beach, Orlando, Winter Park (Orlando), Hyde Park (Downtown Tampa), Gulfport (St. Pete Beach), Pasadena Beach (St. Pete Beach), Clearwater Beach and Gainesville, Florida. It is the largest residential owner/operator in the region, and most importantly, there are over 500 marvelous McKinley Team members locally on the ground in these communities, serving and delivering extraordinary customer service each and every day.