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.
Steadfast REIT Launches New Apartment REIT
Fresh off the success of its first multi-family REIT, Steadfast REIT Investments is launching its second, Steadfast Apartment REIT, and beginning an initial public offering of $1.1 billion in common stock for the new REIT.
ARCP to Become Self-Managed Following Closing of ARCT IV Merger
Just days after its $3.1 billion merger with American Realty Capital Trust IV was finalized and weeks before its $11.2 billion acquisition of Cole Real Estate Investments is completed, American Realty Capital Properties, Inc. will become self-managed on Jan. 8.
ARC NYRR Buys Institutional-Quality Manhattan Office for $529M
American Realty Capital New York Recovery REIT now owns more than $2.1 billion in assets topped off by the $528.6 million acquisition of the fee simple interest in 1440 Broadway, a 25-story office building in the Times Square South submarket of Manhattan.
KKR Raises $1.5B for Its First RE Fund
Strong interest from a variety of investors helped KKR amass $1.5 billion for its first real estate fund in only six months. The KKR Real Estate Partners Americas fund is now closed and the global investment firm is continuing to put the money to work.
Blackstone Closes on East Coast Hotel Portfolio for $186M
Blackstone Real Estate Advisors has closed on a 15-property select-service hotel portfolio in seven East Coast and Mid-Atlantic states after securing $186 million in acquisition financing.
Essex Agrees to Buy BRE for $4.3B
A week after announcing it was exclusively courting BRE Properties, rival multi-family REIT Essex Property Trust said it had agreed to make the marriage official, with BRE Properties being merged with Essex in a cash and stock deal worth $4.3 billion.
Peebles, Elad Buy NYC Landmark Building for $160M
The Peebles Corp. and Elad Group have bought the historic 346 Broadway office building from New York City for $160 million and plan to transform the 115-year-old property into a five-star hotel and upscale condominiums in a $400 million restoration.
Shorenstein Buys 1.3 MSF Class A Office Property in Downtown Denver
Shorenstein Properties acquired Denver City Center, two downtown Class A office buildings with a total of 1.3 million square feet, from Crescent Real Estate Holdings for $286 million.
USAA, Touchstone Partner to Develop Project in Seattle’s South Lake Union
The hot South Lake Union submarket in Seattle is getting another office development as USAA Real Estate Co. and Touchstone team up on a two-building, 820,000-square-foot project at 307 Fairview Ave. North.
CBRE Trades 377 KSF Class A Office Building in NJ Suburb
GAF, North America’s largest producer of roofing materials, is moving from its longtime Wayne, N.J., corporate headquarters to a 377,000-square-foot, Class A office building in Parsippany, N.J., in a deal described by CBRE Group Inc. brokers as “one of the largest in the state this year.”