VIRGINIA – McKinley’s Residential Client Services is proud to announce the successful disposition of Chelsea Point and Vacaro Apartments, which are the final two assets included in the Bethany Portfolio.   The Bethany Portfolio consisted of 11 properties totaling 2,904 units in three states.  McKinley commenced management on all 11 assets in March of 2009 and immediately began creating value.

Chelsea Point Apartments is a 196 unit multi-family complex located in Portsmouth, VA. During McKinley’s time there, occupancy was increased from 54% to more than 96%.

Vacaro Apartments is a 208 unit complex in Chesapeake, VA. At the time of takeover occupancy was 58%, which McKinley increased to over 93% during their time at the property.

“We appreciated the opportunity to be involved in the repositioning of this asset on behalf of our valued stakeholders,” states Albert M. Berriz, Chief Executive Officer of McKinley.

For more information on McKinley’s Residential Client Services, please contact Kenneth P. Polsinelli at 734-769-8520 x230.

Read all about McKinley’s newest team member!

http://www.multifamilybiz.com/PR/933/McKinley_Welcomes_New_Team_Member

ANN ARBOR, MI– McKinley is pleased to announce that Kristin A. Berg has joined McKinley as VP & Managing Director of Residential Asset Management.  Kristin was formerly Director, Multifamily Asset Resolution for Freddie Mac, where she led a loss mitigation team that successfully executed proven workout and disposition strategies for a $1B high risk loan portfolio. 

“We are thrilled to have Kristin join our executive team,” said Kenneth P. Polsinelli, Chief Real Estate Officer. “She is one of the most talented real estate professionals

I know, and I know that our clients and our team members will benefit greatly from her contributions.  Her focus on value creation is a perfect fit with our culture and results.”

Kristin represented Freddie Mac in the Mortgage Bankers Association (MBA) working group that established the loan servicing industry best practices for inspecting commercial properties, documented in a white paper.  The group developed the universal property inspection form, now used by the majority of commercial loan servicers.  In conjunction with these efforts, Kristin took an active role in creating the curriculum for and teaching the MBA’s Property Inspection Training, a requirement for inspectors of Fannie Mae or Freddie Mac properties.

During her 20 year career at Freddie Mac, Kristin personally resolved hundreds of distressed loans and was instrumental in building a national network of property managers and brokers to facilitate the disposition of over 250 REO assets.   She had a variety of roles that included risk management, policy and process redesign.  Kristin was a member of the team that launched the Multifamily Division’s first mentoring program and a regional leader of the book club.  She was awarded a Certificate of Appreciation from the Consortium for Housing and Asset Management, the educational arm of the nonprofit Enterprise Community Partners, Inc., for supporting the effort to develop their advanced certification program.

Kristin graduated with Honors from the University of Chicago with a BA in Humanities.  She also holds an Illinois Real Estate Broker’s license.

“Having worked with McKinley for years as a client, I am delighted with the opportunity to join this high-powered group whose possibilities are limitless in the world of real estate,” stated Kristin A. Berg, VP & Managing Director of Residential Asset Management.

ANN ARBOR, MI – McKinley is pleased to announce that Colliers  International signed a 6 year lease to occupy 2,408 square feet at the McKinley Towne Centre.  Colliers International provides commercial brokerage and other real estate services to its customers.  Colliers has two other offices in Michigan, one in Southfield and another in Grand Rapids.

“ We’re delighted to have Colliers at MTC,” Stated Thomas Gritter, Vice President & Managing Director, Commercial Real Estate.  “Colliers has been a great partner of McKinley for many years and we’re super excited to have them as a tenant.”

For more information on McKinley Towne Centre, please contact Thomas Gritter at 734-769-8520 x 289