MIAMI, FL - McKinley is pleased to announce the successful resolution of Rio Apartments in Miami, FL. Rio is a 294 unit apartment community located in the Fontainebleau neighborhood of Miami.
McKinley was hired by the court appointed Receiver to stabilize the community, cure deferred maintenance and to address numerous resident concerns. In only 25 days, the community was repositioned resulting in a 100% recovery of the outstanding debt.
“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.
About McKinley: Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily real estate. Currently ranked #38 in the NMHC Top 50 list of national apartment management companies, McKinley owns and manages more than 33,000 units throughout 20 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as a select clientele of institutional investors, private equity clients and special servicers. McKinley is a member of the National Multi Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO).
For more information on McKinley, please contact Kenneth P. Polsinelli at 734-769-8520 x 230 or kpolsinelli@mckinley.com.