McKinley is doing a rehab of the 33-year-old, 120-unit unit Manchester West in Ann Arbor, Mich., which the company hopes will achieve a 24 percent ROI.
Flooring replacements? Definitely. Countertops? Maybe. A new roof? Unlikely. But neglect curb appeal and common spaces at your own peril.
A dinner with investors in November may have nudged BRE Properties to join forces with Essex Property Trust.