HONOLULU — Applebee’s Grill and Bar has opened its first restaurant in Hawaii, located in Ewa Beach on Oahu. The new Applebee’s restaurant features the brand’s new American-made, wood-fired grill menu. A second Applebee’s location is already planned to open next year at the Ka Makana Alii Mall in West Oahu. With more than 2,000 locations now in all 50 states, Guam, Puerto Rico and 15 countries, Applebee’s is one of the world’s largest casual dining brands. Applebee’s is franchised by subsidiaries of DineEquity Inc., which is among the world’s largest full-service restaurant companies.
Hawaii
Wells Fargo Provides $238M Refinancing for Howard Hughes Corp.’s Ward Village in Honolulu
by John Nelson
HONOLULU — An affiliate of Wells Fargo & Co. (NYSE: WFC) has completed the $238 million refinancing of maturing debt for Ward Village, a 60-acre urban master-planned development underway in Honolulu. The Howard Hughes Corp. (NYSE: HHC) is the master developer of Ward Village, which features three condominium towers under construction. Upon completion, Ward Village will comprise 4,000 residences and 1 million square feet of retail and restaurant space. The development is situated between downtown Honolulu and Waikiki in the Kak’ako district. Ward Village is the only project in Hawaii to receive LEED Platinum certification for neighborhood development (LEED-ND) and the largest one in the United States to receive LEED-ND Platinum certification. The financing is secured by the existing Ward Village commercial properties, excluding the condominium towers currently under development. Ward Village’s three condominium towers underway — Waiea, Anaha and Ae ‘o — will open in late 2016, 2017 and 2018, respectively. The three towers will feature ground-floor retail space, including a Nobu restaurant, Merriman’s restaurant and the largest Whole Foods Market in Hawaii. Other mixed-use condo buildings within Ward Village include Gateway Towers and Ke Kilohana, which features a 23,000-square-foot, street-level Longs Drugs store. The financing allows Howard Hughes …
HONOLULU — The Honolulu Authority for Rapid Transportation has announced the new Airport Guideway and Stations Design-Build project. The project will include the construction of 5.2 miles of new elevated guideway between Aloha Stadium and the Middle Street Transit Center Station in Honolulu. It will also include the construction of the Pearl Harbor Naval Base transit station, two stations near the Honolulu International Airport and the Middle Street station. A joint venture between Granite Construction Company, Shimmick Construction Co. and Traylor Bros. will undertake the $875 million project. This is the third in a series of projects designed to build a 20-mile light rail transit system for the city and county of Honolulu. Construction will commence in spring 2017 and for completion by 2021.
KAPOLEI, HAWAII— DeBartolo Development is set to open Ka Makana Alii, a 1.4 million-square-foot regional mall currently under construction in the West Oahu city of Kapolei, in late October. Anchored by the first Macy’s in West Oahu, Phase I of Ka Makana Alii features more than 100 shops and restaurants, a state-of-the-art Consolidated Theatres and the state’s first Hampton Inn & Suites. DeBartolo Development broke ground on the project in March 2015. Other tenants at the center will include H&M, Forever 21, Victoria’s Secret, Old Navy, Five Guys Burgers and Fries, California Pizza Kitchen, AT&T, PetSmart and Foot Locker.
PEARL CITY, HAWAII — Sonnenblick-Eichner Co. has secured a $59 million in first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City. The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway is fully leased to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.
HONOLULU — A partnership between Taubman, CoastWood Capital Group and Queen Emma Land Co. has opened Taubman’s International Market Place in the Honolulu neighborhood of Waikiki. The 345,000-square-foot, open-air shopping center is home to Hawaii’s first Saks Fifth Avenue, among other retailers and restaurants. Amenities at the center include a 700-space parking garage, valet parking, electric vehicle charging stations and complimentary wi-fi.
HONOLULU — Nordstrom Inc. has opened its new, relocated store at Ala Moana Center in Honolulu. The three-level, 186,000-square-foot store features new interior and exterior design concepts, a full-service restaurant and bar, cocktail lounge and new departments. The store is a relocation from its previous home at the other end of the mall, which opened in 2008. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 326 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 197 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store.
WAHIAWA, HAWAII — CBRE has arranged $19.7 million in acquisition financing for the 106-unit Palms of Kilani apartment complex in Wahiawa. The community is located at 1060 Kilani Ave. It was built in 1972 and renovated in 2005. The 10-year, floating rate loan was provided to DiNapoli Capital Partners. The company purchased the asset for $26 million. DiNapoli plans to invest an additional $450,000 to renovate the property. CBRE’s Andrew Behrens and Jesse Weber secured the loan.
SEATTLE — Living Care Lifestyles, a Seattle-based seniors housing operator with communities in California, Hawaii, Oregon, Texas and Washington, has hired John Renner as regional director of operations for Texas, California and Hawaii. Renner has more than 20 years of experience in assisted living and independent living. He will be responsible for the overall administration, operations and management of the six communities in the region, mostly under the company’s Quail Park brand. Prior to joining Living Care Lifestyles, Renner was the operations director at Leisure Care where he oversaw and managed 12 assisted living and independent living communities. He was also the general manager at Fairwinds.
HONOLULU — Kalākaua Gardens, an independent living, assisted living, skilled nursing and memory care community in Hawaii’s capital, is slated to open its doors in early 2016. Although the operator, Avalon Health Care Group, doesn’t specifically identify the property as a continuing care retirement community, it notes that Kalākaua Gardens will be the only community on the island offering all levels of care on one site. The luxury community will comprise 17 stories in Honolulu’s vibrant Ala Moana commercial district.