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.
Moody’s Downgrades ARCP Stock to Junk Due to ‘Continued Uncertainty’ at REIT
One day after American Realty Capital Properties Executive Chairman Nick Schorsch and the company’s other two top executives resigned in the wake of an accounting scandal, the REIT giant suffered another blow as Moody’s Investors Service downgraded its credit ratings to junk status because of the “continued uncertainty” from the management shakeup and ongoing investigations and lawsuits.
Fundrise, Larson Realty JV to Redevelop Detroit’s Former Tiger Stadium
Larson Realty Group and its development group that includes Fundrise, a leading real estate crowdfunding platform, have been chosen to redevelop the Michigan and Trumbull blocks of the former Tiger Stadium in Detroit into a mixed-use project.
MetLife Acquires Fairmont Hotel in DC
The 415-room Fairmont Hotel in Washington, D.C., has changed hands, with MetLife, Inc. buying the luxury property from Ivanhoe Cambridge for $180 million.
Rosemont Adds Kirkwood Tower to Houston Office Holdings
Rosemont Realty has expanded its Houston holdings to nearly 2.5 million square feet with the addition of Kirkwood Tower, a 15-story Class A office tower in the city’s Energy Corridor.
GLP Co-Invests with GIC on $8B IndCor Purchase
Global Logistics Properties Ltd. is making a big move into the United States industrial market by taking a 55 percent stake in a deal with GIC to buy IndCor Properties from Blackstone for $8.1 billion.
RCS to Pay ARCP $60M to Settle Lawsuit over Canceled Cole Capital Sale
With both sides saying they want to focus on their businesses not litigation, RCS Capital Corp. has agreed to pay American Realty Capital Properties $60 million to settle a lawsuit over the canceled $700 million Cole Capital Partners deal.
Bentall Kennedy, MEPT Buy 359 KSF SF Office Tower
Bentall Kennedy, real estate advisor for the Multi-Employer Property Trust, has expanded the fund’s Bay Area holdings with the acquisition of 600 California St., a 20-story, Class A office tower in San Francisco.
TRT, JMI Get $140M in Financing for Omni San Diego Hotel
TRT Holdings and JMI Realty, owners of the luxury Omni San Diego in the city’s downtown Ballpark District, have refinanced the existing debt on the hotel with a $140 million loan secured through HFF.
Ivanhoe Cambridge, Callahan Capital Buy 2 Seattle Office Buildings for $280M
The deal gives the Montreal-based investment firm about 13 percent of downtown Seattle’s Class A office market.
Harrison Street Sells 22 Self-Storage Properties for $223M
Harrison Street Real Estate Capital has sold 22 self-storage properties totaling 1.7 million square feet to CubeSmart as the first part of a $223 million, two-tranche deal.