ANN ARBOR, MI - McKinley board members Albert M. Berriz and Marc Weiser announced today at their 3Q board meeting that Eugene A. ("Gene") Miller has been elected Chairman of the Board effective immediately. Miller has extensive knowledge and expertise in management, executive compensation and governance matters and is the retired Chairman and Chief Executive Officer of Comerica Incorporated and Comerica Bank. He is also a Director of TriMas Corporation, Handleman Company and DTE Energy Holding Company, as well as Trustee and former Chair of the Community Foundation for Southeast Michigan and the McGregor Foundation.
During the meeting, Berriz and Weiser praised Paul Dimond for his efforts as Chairman over the past 11 years. "Paul was instrumental in the creation and formation of our new board back in 2001 and for me he has been an amazing mentor and advisor in both good and bad times over the past 11 years," said Berriz. McKinley formed its board in September 2001 when founder Ronald N. Weiser retired and became the US Ambassador to the Slovak Republic.
During this period McKinley has become a formidable national real estate owner-operator of commercial and multifamily real estate. The enterprise has over $3.2 billion in assets under management consisting of over 300 real estate projects in 25 states, comprising 34,000+ residential units and over 17 million square feet of retail and office with 1,400 full time team members.
"We built a diversified service business during this period, solidified a fortress balance sheet, and developed a sophisticated management team that is second to none in the business," commented Paul Dimond. "It's been a productive transition from 2001 to today, and we are very well poised for the future."
Marc Weiser commented on both Miller and Dimond by saying "Paul added so many dimensions to our board dialogue and made us think of possibilities that none of us had envisioned. I am very pleased that Gene has accepted the position of Chairman. He will take us to a new level of sophistication in the areas of corporate governance, leadership and he will be a great mentor and advisor to Albert." Berriz added, "Gene is a people person and he focuses on leadership and excellence, our management team is excited about what he adds to the future of our platform". Dimond remains as a Board Member with Miller, Berriz and Weiser, along with C. Wendell Dunbar and Steve Hamp.
About McKinley: Founded in 1968 and headquartered in Ann Arbor, McKinley is a leading owner and manager of multifamily and commercial real estate. McKinley owns and manages more than 34,000 apartment units, as well as a commercial portfolio of office buildings, retail centers and industrial/flex space with more than 17 million square feet. McKinley offers multiple services across their platform including construction management, property management, asset management, leasing and acquisitions/disposition services, as well as receiverships and workouts for its own portfolio. McKinley works with a select clientele of institutional investors, private equity clients and special servicers throughout the United States.