Please enjoy the Breaking News link below from MHN Online about McKinley acquiring two Orlando Communities in 30 days.
Please enjoy the Breaking News link below from Ann Arbor SPARK acknowledging McKinley’s recent gift to the organization.
MCKINLEY EXECUTES SECOND MAJOR ORLANDO MULTIFAMILY THEME PARK PORTFOLIO ACQUISITION WITHIN THIRTY DAYS
Orlando, Florida – Confirming its strong commitment to the Orlando market, McKinley executes a second major acquisition for its Orlando Multifamily Theme Park portfolio in the past 30 days. Bella Vita joins twelve other garden apartment communities within the theme park sub-market including nine McKinley “Owned and Managed” communities, and three communities operated by our Institutional Residential Real Estate team for what is the single largest assembly of multifamily owned and managed real estate between Disney and Universal Studios in Southwest Orlando. McKinley has been actively investing in the Southwest Orlando market since 1982, and today is one of the single largest owner-operators of multifamily real estate in Central Florida.
McKinley continues to expand its dominant footprint along the Interstate-4 corridor to Tampa and the Interstate-75 corridor to Gainesville along the transportation triangle between Orlando, Tampa and Gainesville. Central Florida now joins Metropolitan Ann Arbor as McKinley’s largest multifamily concentration, and McKinley anticipates this expansion to continue in Central Florida and projects this portfolio to exceed its market position in Ann Arbor, Michigan.
Bella Vita has one, two, three and four bedroom apartment homes located just two blocks from The Mall at Millenia, an ultra-luxury indoor mall which includes world class retailers such as Apple, Neiman Marcus, Chanel, Yves Saint Laurent, Macy’s, lululemon athletica and Bloomingdales. Located a few blocks to the west of Bella Vita is Universal Studios Orlando which includes Universal Islands of Adventure and the Wizarding World of Harry Potter, plus the latest Transformers 3-D Experience.
“We understand Orlando and like everything we see in terms of the long term economic vitality for the Central Florida region. We are committed to serve the needs of our residents with a superior product delivery, 450 exceptional team members in the market, and our seasoned Orlando based leadership team in position,” states Albert M. Berriz, Chief Executive Officer. Mr. Berriz adds, “We are fortunate to have such a market dominate position in what is the economic engine in today’s Central Florida tourist commercial industry with neighbors like The Walt Disney Company, Universal Studios Orlando and the Orange County Convention Center.”
Comerica Commercial Real Estate is providing the acquisition financing for this transaction and Berkadia Commercial Mortgage is providing HUD long-term financing. “Comerica and Berkadia work side by side with us as great partners enhancing our reputation and solid transactional track record for certainty of execution at record speed. Both of these recent acquisitions were closed in under 15 days from contract execution to funding,” shared Berriz.
ANN ARBOR, MI - In a major show of support for Ann Arbor SPARK, Ann Arbor’s engine for economic development, McKinley announced a major gift commitment of $500,000 over ten years to the organization. SPARK is an organization dedicated to the economic prosperity of the greater Ann Arbor region. Utilizing its skills and knowledge to attract, develop, strengthen, and invest in driving industries to help the Ann Arbor region thrive, SPARK plays a significant role in advancing the economy in the region. The 10 year gift has a value in excess of $500,000 and is one of the single largest gifts from a private corporation in the history of SPARK.
“We are excited to publicly announce a 10 year commitment to provide SPARK with a significant gift of support allowing them to operate in Class A office space right in the heart of Ann Arbor’s technology and innovation corridor,” stated Albert M. Berriz McKinley’s CEO. ”Ann Arbor is our home town, our kids grew up here, our business thrives here, and we are committed to growing GDP and jobs in the region. We believe there is no better way to do this than via SPARK. They are a world class organization, and a best in class economic driver for the region,” added Berriz.
“The Bank of Ann Arbor has been involved with SPARK since its formation as a founding contributor and annually since,” said Tim Marshall, President, Bank of Ann Arbor, and board chair, Ann Arbor SPARK. “It is a collaborative effort together with the private sector, local municipalities, and our major universities and community college all contributing time and resources to promote SPARK’s many successes, and we are grateful to McKinley for their tremendous support,” shared Marshall. “The growth in jobs via startup support, attraction efforts, and assisting with expansion of existing companies would not have been possible without SPARK. The team is exceptional and we are fortunate to have such a strong and experienced group of professionals assisting our region in economic development,” added Marshall.
“Ann Arbor SPARK’s mission is to support growing businesses, and to attract companies and investment,” said Paul Krutko, Ann Arbor SPARK president and CEO. “A strong economy is ripe with jobs and investments, and Ann Arbor SPARK is committed to driving that economic growth here in our region. A public-private partnership is the backbone of Ann Arbor SPARK’s work; McKinley’s support of Ann Arbor SPARK recognizes the important role that the private sector, especially leading businesses, plays in growing our economy.”
McKinley has been a major partner and investor with SPARK since its inception and this gift demonstrates McKinley’s major commitment to the long term sustainability and viability of the organization.
Read about McKinley’s proposed affordable housing apartment community on a vacant property on South State St. in Ann Arbor, MI featured on mlive.com.