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Profile: McKinley Focuses on Solving Complex Real Estate Problems
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Profile McKinley Focuses on Solving Complex Real Estate Problems by Joe Dyton McKinley, a real estate investment firm, headquartered in Ann Arbor, MI, has earned its reputation of successfully solving intricate situations and structuring complex transactions. With over 38 years of experience, McKinley’s professionals acquire, plan, redevelop, lease, manage, finance, and market apartment homes and commercial real estate. With more than three and a half decades of success under its belt, the company has generated value and profits from the most challenging real estate situations. McKinley manages over $1.2 billion in assets including 15,000 apartments and five million sq.ft. of commercial space in nine states nationwide and with 650 full-time team members. The corporate office is located in Ann Arbor, MI, with regional offices in Taylor, MI; Akron, OH; Indianapolis, IN; Norfolk, VA; Oklahoma City, OK; and Orlando, FL. Ambassador Ronald N. Weiser founded McKinley in 1968 and remains its principal shareholder. He recently left his post as the United States Ambassador to the Slovak Republic appointed by President George W. Bush and sworn in on November 27, 2001 by Secretary Colin Powell. The leader of McKinley, Albert M. Berriz, the president and CEO, has extensive experience in the acquisition, financing, management, development and redevelopment of real estate assets. He has been responsible for acquiring and managing assets in excess of $2.5 billion. McKinley’s ability to provide advisory services comes with a track record of experience; the company has completed more than $3 billion in real estate transactions, some of which were extremely difficult deal structures. The company also has a strong handle on court-appointed receivership work and the workout of foreclosed assets. McKinley can come in at the 11th hour to protect an asset and assess any financial, legal, physical and operational deficiencies that may exist. It then assists with pursuing the best disposition strategy. The company’s experience includes land assembly for Fortune 500 companies, dispositions for major banks and owned representation for life insurance companies and pension funds. The company also provides tenant representation locally and nationally. When it comes to mortgage banking, McKinley prides itself on delivering a truckload of equity and debt products. They include construction financing, acquisition and renovation financing, securitized debt, FNMA DUS, Freddie Mac and HUD financing, mezzanine debt, participating debt and joint venture capital solutions. The company has a knack for generating the best profit and most amount of cash flow from an owner’s perspective. The company’s recipe for success has been going into every transaction with focus and vigor to finish off deals quickly. The company’s financing advisory service process includes visiting the site before the loan is applied for, providing preliminary loan sizing, compiling and packaging the client’s information, marketing the loan to the best list of lenders possible, providing loan and financing alternatives and closing the transaction. On the commercial real estate side, McKinley owns and manages five million sq.ft. of commercial space including retail, office and warehouse for its own account and select clientele. Some of the company’s projects include McKinley Towne Centre, a mixed-use retail/office center, located at 401 E. Liberty in Ann Arbor in the central business district and the University of Michigan campus, which will serve business professionals and students alike; Castleton Commons and Linens ‘N’ Things Plaza, located at 8310-8432 Castleton Drive in Indianapolis, IN, where a new 45,944 sq.ft. Havertys store just signed a lease; Janaf Shopping Center, located at the intersection of Virginia Beach Boulevard and Military Highway in Norfolk, VA, featuring more that 100 tenants with spaces from 1,960 sq.ft. to 20,585 sq.ft. available; The Shops at Janaf, a 168,000 sq.ft. converted empty Montgomery Wards located within the Janaf shopping complex. The redevelopment consisted of demolishing the building back to its shell and rebuilding the entire façade. Within 18 months of taking control of the site, McKinley was able to convert the vacant box into a retail center and recovered 100% of invested equity. Tenants include such national retailers as Shoe Carnival, Blockbuster Video, EB Games, Quiznos Subs and Curves. As McKinley continues to use its ability to execute quickly as a key driver in the acquisition process, the all cash buyer is actively seeking to acquire retail and multi-family properties in southeast MI, northern OH, central FL, central IN, southern IL and southern VA with a focus on value-added and distressed properties. The company can close quickly on transactions up to $50 million on an all cash basis. Retail acquisitions should have a minimum GLA of 20,000 sq.ft. For more information contact Albert M. Berriz, McKinley, 320 North Main Street, Ann Arbor, MI 48104; 734-769-8520; Web site: www.mckinley.com. Regarding acquisitions, contact Kenneth P. Polsinelli; Senior VP and Managing Director of Major Transactions at Ext. 280. Regarding financing, contact Jeffery R. Kleinschmidt, Executive Vice President/Corporate Treasurer at Ext. 289. Regarding commercial property management contact Royal Caswell, Vice President of Commercial Operations at Ext. 228. |