May 17, 2023
Orlando, Florida - McKinley, the leading privately-held multifamily owner-operator in the metro Orlando area, is thrilled to announce its latest major acquisition in the Orlando Theme Park market. The company has successfully acquired The Wesley Apartments, formerly known as The Vinings at Westwood Apartments, adding a 400-unit community to its extensive portfolio. Located on Banner Lake Circle Road, The Wesley enhances McKinley's presence in southwest Orlando, known for its proximity to popular attractions such as Universal Studios, SeaWorld, and Disney.
"The Wesley is a wonderful addition to our Orlando portfolio," says Albert M. Berriz, CEO, Managing Member, and Co-Owner of the McKinley Companies. "In addition to providing 1 and 2 bedroom units, The Wesley also has 3 bedroom units, an offering we didn't have in that area. This expansion allows us to better cater to the diverse needs of our residents in the Orlando market"
The acquisition of The Wesley was made possible through the support of KeyBank, whose intimate understanding of McKinley's specific submarket focus allowed them to exceed the shortened closing timeframe requirements. The collaboration between McKinley and KeyBank highlights the importance of strong partnerships in achieving successful real estate transactions.
With the completion of this acquisition, McKinley now owns and operates 75 workforce housing communities in its core markets of Washtenaw County, Michigan, and the metro Orlando area. As the largest privately-held multifamily owner-operator in the region, McKinley's commitment to serving its customers and colleagues is unwavering. The company prides itself on its dedicated and diverse team, working tirelessly to provide extraordinary experiences for all stakeholders.
McKinley is a leading privately-held multifamily owner-operator, with a strong presence in the metro Orlando area. Founded in 1968, the company has been actively investing in, owning, and operating multifamily communities in the Orlando MSA since 1982. With a focus on workforce housing, McKinley is dedicated to creating exceptional living environments and fostering positive communities.
October 25, 2022
Orlando, Florida - McKinley is excited to announce that it has completed another major acquisition in its Orlando International Airport/Downtown Orlando sub-market, with the acquisition of The Frederick (formerly Sawgrass Apartments), a 208-unit community located on Conway Road. McKinley has been actively investing, owning, and operating Multifamily communities in the Orlando MSA since 1982.
“We are very pleased with this addition to our Orlando workforce housing portfolio, it further adds to the wonderful array of choices we can provide our customers in our various sub-markets throughout the Orlando MSA,” Albert M. Berriz, CEO, Managing Member, and Co-Owner of the McKinley Companies. “We are also very thankful for our friends at KeyBank Real Estate Capital who have worked alongside us for over 30 years and have provided over $2 billion in acquisition and long-term financings,” added Berriz.
McKinley owns and operates 74 workforce housing communities in its core markets of Washtenaw County, Michigan, and throughout Metropolitan Orlando, where it is the largest privately-held Multifamily owner-operator in both of those markets. McKinley is comprised of caring, hard-working, positive, and diverse people; they work shoulder to shoulder in the field where everything they do happens; they are passionate about serving customers and colleagues, and being "extraordinary" is a cultural way of life!
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.