ANN ARBOR, MI - McKinley announced that it has acquired 192 condominium homes at Magnolia Place Townhomes in Gainesville, FL on behalf of its client, Karlin Real Estate. In total there are 332 homes at Magnolia Place Townhomes consisting of enormous 2 and 3 bedroom town homes. McKinley's current plan is to continue to provide high-quality rental homes for the current residents and the Gainesville community. McKinley has also provided management services to the community since 2009.
"McKinley is extremely excited to acquire the remaining condo homes at Magnolia Place Townhomes on behalf of our client Karlin Real Estate," remarked Albert Berriz, CEO of McKinley. "This is an absolutely beautiful community that we have successfully managed for the past 3 years and we look forward to continuing to our management services for our partners at Karlin Real Estate."
About McKinley: Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily real estate. Currently ranked #37 in the NMHC Top 50 list of national apartment management companies, McKinley owns and manages more than 33,000 units throughout 25 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 on the Board of Directors of the National Multi Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO).
About Karlin Real Estate: Karlin Real Estate is an investment firm targeting opportunistic acquisitions and financing of commercial, hospitality and multifamily properties across the United States. The firm takes a value added approach by acquiring real estate assets across a broad range of geographical markets and product types. Karlin Real Estate is an affiliate of Karlin Asset Management, a private investment firm managing more than $1.4 billion of unleveraged equity capital.