Sharing the Good Life

Sharing the Good Life

Celebrating 20 years as business partners and principals of MC Companies, Ross McCallister and Ken McElroy have followed a guiding philosophy in the multifamily industry. “We first and foremost make certain that our residents are served. If the residents are happy, then the benefits accrue and flow to inves- tors, our team members and the communities in which we live,” McCallister says. “This is a foundational tenet of how we operate,” says McElroy. “We never waiver from this approach, and when making decisions, we always ask: ‘Is this in the best interest of all of our stakeholders?’ If the answer is yes, then we are doing the right thing.

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MC Companies Purchases 648 Units with Fully Funded Katy 2 Opportunity Fund LP

MC Companies Purchases 648 Units with Fully Funded Katy 2 Opportunity Fund LP

Market performance supports funding and acquisition of two value-add multifamily properties in Katy, Texas


KATY, Texas, July 7, 2021 – Bolstered by historic multifamily market performance, MC Companies has fully funded its Katy 2 Opportunity Fund LP and completed the acquisition of two adjacent multifamily investment properties totaling 648 units in Katy, Texas.

MC Companies will combine and rebrand the properties as The Place at Barker Cypress, following the company’s proven value-add investment strategy and continuing the renovation program begun by the previous owners.

The acquisition was made possible by an equity portion from MC Companies and its investors, and financed with a loan provided by MF1 Capital.

The transaction includes the 384-unit, garden-style Enclave at Cypress Park apartments and the 264-unit, garden-style Paramount Apartments.

The properties are situated adjacent to one another along the Barker Cypress thoroughfare, just north of Interstate 10 and approximately 20 miles west of downtown Houston, near the Energy Corridor.

“Closing this transaction speaks to our success and growth over the last 20 years,” said MC Companies CEO and Co-Founder Ken McElroy. “We appreciate this opportunity and are eager to close more deals of this caliber, as we pursue our goal of 25,000 units under ownership.”

CBRE arranged the asset sale and the acquisition financing for the MC Companies deal. Capital Markets Senior Vice Presidents Clint Duncan and Matt Phillips represented the sellers. Vice Chairman of Debt and Structured Finance Michael Thompson arranged the acquisition financing on behalf of MC Companies.

“MC Companies provided certainty of closing in a very competitive environment, and they performed flawlessly,” said Phillips.

At The Place at Barker Cypress, MC Companies has the opportunity to add value to 328 of the 648 units through upgrades and renovations, as well as complete common area upgrades.

MC Companies founders Ken McElroy and Ross McCallister have been leaders in the multifamily investment industry for over 30 years. The company continues to actively pursue new land for development and existing properties for value-add investment.

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About MC Companies

MC Companies is a real estate investment, development, construction and management company specializing in multifamily properties and commercial markets. Since 2001, MC Companies has transacted on approximately $3.8 billion in multifamily assets. It currently owns and operates more than 6,500 units in markets including Houston, Dallas, San Antonio, Phoenix, Tucson, Flagstaff and Tulsa, operating under a mission of “Sharing the Good Life” with investors, residents and MC Companies employees. For more information, visit www.mccompanies.com.

Media Contact:

Stacey Hershauer

stacey@focusaz.com

480.600.0195

MC Companies Hires Chief Operations Officer

MC Companies Hires Chief Operations Officer

MC Companies announces the hiring of David Mannion as its Chief Operations Officer effective May 1, 2021.  David comes to MC Companies with over twenty years of experience in real estate development, acquisitions, portfolio management and capital markets for public and private companies. Over the course of his career in real estate, David has closed over $7 billion in transactions and managed $24 billion in assets. Prior to joining MC Companies, David served as Head of Capital Markets for a $15 billion publicly-traded REIT where he raised several billion for that company.  

MC Companies made this strategic hire to solidify the executive management team and add leadership with institutional experience and relationships to ensure the company’s goal of expanding their portfolio from 6,000 units to 25,000 units by 2029. David will lead MC Companies’ growth, drive operations, portfolio performance, and oversee capital raises and joint-venture relationships.

“We are thrilled to have David join our team. He brings a wealth of knowledge and experience that will help enable us to increase our portfolio and grow our organization,” says Lesley Brice, President and Partner at MC Companies.

MC Companies operates primarily in the Southwest with the majority of their holdings in Tucson and the greater Phoenix area.  MC Companies also owns and manages communities in Tulsa OK, Houston, San Antonio and Dallas, Texas.

About MC Companies: MC Companies https://www.mccompanies.com is a real estate investment, development, construction, and management company specializing in the multifamily properties and commercial markets. MC Companies has completed over $750 million in multi-family and commercial value-added transactions since 2001.

MC Residential Communities Food Drive Helps Provide 57,000 Meals

MC Residential Communities Food Drive Helps Provide 57,000 Meals

MC Residential CommunitiesSpring Into Action food drive collected 13,000 pounds of food during a two week food drive.  Through their partnership with Move For Hunger, the food drive will provide 10,800 meals to those in need. 

When MC Residential Communities launched their partnership with Move For Hunger at the beginning of 2021, the opportunity to make powerful and long lasting impact on local communities was clear.  Aiming high, they announced their goal of providing 100,000 meals to local foodbanks during their company kick-off in January.  Just four months into the year, MC has already surpassed the 50% benchmark to reaching that goal with enough food to provide 57,000 meals already collected and donated. 

Each of MC Residential’s 24 apartment communities and corporate offices competed over two weeks to see who could collect the most food from their residents and staff, and the results were overwhelming.  First place was awarded to The Place at Savanna Springs located in Sierra Vista, AZ where they collected over 1,300 pounds of food.  While competition is a great motivator, the real winners are the local food banks that will use the much-needed food to provide nutrition to those who need it most.

“I never get used to the unexpected gifts but I’m never surprised either” says Lyn Marquis, Director of Philanthropy at MC Residential Communities.  “I am so thankful for our employees and residents who continue to support the many causes we rally around as an organization.”

While the Spring food drive was a huge success, MC continues to collect food year-round for their local food banks.  Residents are provided bags upon their move-out to donate any shelf-stable foods they don’t want to move with them, and more food drives are planned to take place throughout the year. 

MC Residential Communities is not known for shying away from challenges, especially when it comes to helping lift up their local neighborhoods and communities.  This dedication to giving is why there is no doubt they will smash their goal of providing 100,000 meals in 2021. 

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MC Residential Communities – is a full-service Property Management Company and manages investments exclusively for MC Companies located in Scottsdale, AZ.  MC Residential employs over 200 Property Management professionals and boasts a robust vertical stack of services which include full operations management, marketing, accounting, due diligence and human resources. For more information about MC Residential Communities visit http://www.mcresidential.com

MC Residential Activates in the Wake of Texas Weather Crisis

MC Residential Activates in the Wake of Texas Weather Crisis

Scottsdale, AZ – 2/22/2021

MC Residential moved quickly to assist their residents without heat, water and electricity by sending much needed aid as Texas suffers from a rare winter storm that has crippled power grids in almost every major city.  With real estate holdings in three major Texas cities, MC Residential knew that acting fast was critical.  MC Residential houses 3,000 residents in Texas along with 50 Texas based employees.

Company leadership quickly allocated financial backing for this critical aid and sent four large RV’s to provide shelter to those most vulnerable and in need of heat and comfort.  Many have no potable water or have experienced water damage in their homes as pipes burst from the cold, displacing many residents.  In addition, MC Residential sent over 6,500 pounds of much needed water, diapers, non-perishable food, blankets and medical supplies. 

Several residents of The Place at Oak Hills located in San Antonio, TX took to the internet to thank MC Residential for the aid and support.

“After going through this extreme weather The Place at Oak Hills provided care packages for their residents!!!! To me, this is priceless.  I’ve lived here for 6 months and management is very engaged in their property.  They’ve been communicative, friendly and definitely understanding.  I haven’t had an issue whatsoever.  If I could give them 10 stars I would!”

Another resident said, “Thank you Oak Hills for providing tenants with care packages full of food, water and toiletries during this snow storm! The office employees, manager and maintenance team are the best! Anytime I need something they do all they can to make it happen as soon as they can! You’ve made my experience here so welcoming and safe.” 

Employees distributing supplies to their residents at The Place at Castle Hills in San Antonio, TX

MC Residential is the Property Management division of MC Companies, an Investment Firm based in Scottsdale Arizona.  The act of giving is woven deeply in the company culture and one of our most sacred values being “Giving” says Lesley Brice the President of MC Residential.  “We found drivers willing to deliver these much-needed supplies and sent them on the path

to our residents and their families”, Lesley Brice continues.

“As a company we band together and do whatever it takes to make the communities where we operate better than we found them and of course we never shy away in the face of crisis.  Our experience with helping others during a natural disaster is not new.  During the crisis brought on by Hurricane Harvey we had hundreds of employees donating time and money to help so many in need” says Ken McElroy Partner and CEO of MC Companies. 

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About MC Companies: MC Companies https://www.mccompanies.com is a real estate investment, development, construction, and management company specializing in the multifamily properties and commercial markets. MC Companies has completed over $750 million in multi-family and commercial value-added transactions since 1985.

MC Companies and Move For Hunger Announce Collaborative Effort to Fight Hunger Nationwide

MC Companies and Move For Hunger Announce Collaborative Effort to Fight Hunger Nationwide 

FOR IMMEDIATE RELEASE

MC Companies and Move For Hunger Announce Collaborative Effort to Fight Hunger Nationwide 

Scottsdale, AZ (DATE) – MC Companies – a leading Real Estate Investment and Management Company, and Move For Hunger – anational hunger relief non-profit organization, announced a new partnership that will fight hunger and reduce food waste nationwide.  With estimates showing that the number of Americans facing hunger in 2020 increased by 46% due to the Covid-19 pandemic – that’s 17 million more people – the collaborative efforts of MC Companies and Move For Hunger have never been more important than they are right now.

People throw away a lot of things when they move, including perfectly good food. Move For Hunger’s network of more than 1,000 moving companies, more than 1,500 multifamily apartment communities, and many of the world’s leading relocation management companies, volunteer to collect this unopened, non-perishable food and deliver it to their local food banks. To date, Move For Hunger’s network of relocation professionals and multifamily properties has collected and delivered more than 20 million pounds of food – providing 17 million meals – to food banks and pantries across the United States and Canada.

The partnership will enable MC Companies to support Move For Hunger’s food rescue programs and encourage their properties, associations, & vendors they work with to integrate the Move For Hunger model into the moving out process for residents. It will also provide the opportunity to continue to expand the Move For Hunger network: a robust community of engaged individuals that want to make a difference in the lives of others and have the resources available to create large scale change.

“Partnering with MC Companies both complements and advances our mission, so this collaboration was a natural fit,”said Adam Lowy, Executive Director and Founder of Move For Hunger. “With such devastating hunger statistics all around the country, the support of MC Companies will help strengthen our efforts and allow us to provide meals to those struggling to put food on the table.”

“The mission for MC Companies and our philanthropic arm the Sharing the Good Life Foundation™ is to improve the communities where we operate our Real Estate.  The partnership with Move For Hunger gives us the opportunity to help provide meals to our communities in need.”  Lesley Brice, President and Partner at MC Companies

Rates of household food insecurity are going to remain high for the foreseeable future. Food banks, pantries, and shelters are the only places millions of people can turn to for help. Through the support of partners like MC Companies, Move For Hunger and MC Companies are committed to doing their part to fight for the families, children, seniors, and vulnerable communities who lack reliable access to affordable, nutritious food.

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Move For Hunger is a national non-profit organization that has created a sustainable way to reduce food waste and fight hunger. We have mobilized the leaders of moving, relocation, and multifamily industries to provide their customers, clients, and residents with the opportunity to donate their food when they move. Members of Move For Hunger also organize community food drives, participate in awareness campaigns, and create employee engagement programs.  For more information, or to find out how you can host your own food drive, visit www.MoveForHunger.org.

MC Companies is a real estate investment, development, construction, and management company specializing in the multifamily properties and commercial markets. MC Companies has completed over $750 million in multi-family and commercial value-added transactions since 2001.  For more information about MC Companies communities and developments, visit https://www.mccompanies.com

Media Contacts:

Adam Bianco

Director of Marketing

732-774-0521

Abianco@moveforhunger.org

Lyn Marquis

Director of Philanthropy

(480) 998 5400 ext 248

lmarquis@mccompanies.com