Gail Kalinoski
Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor’s degree in journalism from Pace University.
New JV to Invest $100M for Recap, Ownership of Chicago’s Prudential Plaza
The iconic 2.2 million-square-foot Prudential Plaza in Chicago will be upgraded and repositioned thanks to a $100 million recapitalization and ownership change at the Class A office towers in the city’s East Loop neighborhood.
Schorsch Strikes Once Again: Acquires First Allied Holdings
Calling it another step forward for RCAP Holdings, Nicholas Schorsch, chairman & CEO of American Realty Capital and sister company RCAP Holdings, said it was expanding into the independent broker-dealer financial services business with the acquisition of First Allied Holdings, of San Diego.
Carey Watermark Buys NYC Holiday Inn Hotel for $113M
Carey Watermark Investors has made its first New York City acquisition with the $113 million purchase of the 226-room, 24-story Holiday Inn Manhattan 6th Avenue in Chelsea.
Transwestern’s Global Expansion
When Transwestern announced it would manage a 2 million-square-foot portfolio in the New York City region for the Metropolitan Transportation Authority, the news was significant—and not only because of the size of the contract.
Clarion Sells 50% Stake in IN Retail Fund to Inland
Inland Real Estate Corp. acquired the 50 percent ownership stake in IN Retail Fund held by its JV partner, New York State Teachers Retirement System, for $121 million in cash, making it the sole owner of the 2.3 million-square-foot Midwest retail center portfolio.
Clarion Scoops Up NYC’s 100-104 Fifth Ave. for $230M
The hot Midtown South office market in Manhattan saw a trophy property change hands this week with Clarion Partners acquiring 100-104 Fifth Ave., a 17-story, 277,412-square-foot building, from the Kaufman Organization and Invesco Real Estate for $230 million.
HFF Secures $581M Refi for 16-Property Blackstone Hotel Portfolio
The Blackstone Group has refinanced a 16-property, 4,798-room hotel portfolio and golf course/tennis club with a $581 million loan obtained from GE Capital Real Estate.
Digital Realty Acquires 337 KSF, Six-Building Portfolio in Austin
Digital Realty Trust, already the world’s largest data center REIT, continues boosting its United States portfolio with the acquisition of a six-building holdings totaling 337,000 square feet in Austin, Texas.
CDT Buys Ocean Towers in Coney Island, Area Hit Hard by Sandy
Community Development Trust and Proto Property Services have teamed up on a $52 million project to buy and rehabilitate a 19-story, 380,000-square-foot apartment building in Coney Island, an area in Brooklyn hit hard by Hurricane Sandy.
Liberty Property Buys 291 KSF Office Building in DC for $133M
Liberty Property Trust acquired 2100 M St., N.W., Class B-plus, 291,000-square-office building in Washington, D.C., that has the potential to add more than 100,000 square feet, for $133 million from Hines.