ORLANDO, FL - McKinley announced the closing of a $14,160,000 Bridge Loan with the Bank of America for RIVA Apartments, a 278 unit community located in Southwest Orlando. The property enjoys a superb location just a few blocks from Universal Studios Orlando and The Mall at Millenia. McKinley recently completed a major renovation of this community that it originally acquired as a fractured condominium and it has now fully stabilized the asset as a rental apartment community.
"We truly value our relationship with Bank of America.” said Albert M. Berriz, CEO of McKinley. “They have been a tremendous partner for us in our acquisition and bridge financing efforts." McKinley is in the process of securing long term HUD financing through Berkadia Commercial Mortgage and that financing is expected to close later this year.
McKinley is actively involved in managing rental communities and condominiums throughout the State of Florida on its own behalf and for select clients. Florida is McKinley's largest concentration of multifamily management with over 10,000 units under management throughout the state. McKinley has been actively involved in the investment and management of multifamily and commercial assets in Florida since 1982.
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 Housing Council (NMHC) and is recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO).