Hawaii

Ares Management, SMW Hospitality, Trinity Investments Buy Ritz-Carlton Kapalua in Maui

by Jeff Shaw November 21, 2016

LAHAINA, HAWAII — A joint venture between funds managed by Ares Management LP (NYSE: ARES), SMW Hospitality LLC and Trinity Investments LLC has acquired The Ritz-Carlton Kapalua in Lahaina on the Hawaiian island of Maui. The JV acquired the property from a partnership between Woodridge Capital Partners LLC and Colony Capital Inc. The price was not disclosed. The Ritz-Carlton Kapalua is an oceanfront property located on 49 acres of Maui’s northwest shore. The hotel is part of the 23,000-acre master planned Kapalua resort, home to the Kapalua Wine and Food Festival and the PGA Tour’s Tournament of Champions. The resort is renowned for its golf courses, tennis facilities, beaches, restaurants and shops. The Ritz-Carlton Kapalua features 297 guestrooms, as well as 107 condos within a dedicated wing of the hotel. Known as The Residences, the one- and two-bedroom condos were recently renovated. The joint venture plans to renovate the hotel’s common areas and guest rooms following the acquisition. The hotel’s amenities include a 17,500-square-foot spa with 15 treatment rooms, three-tiered swimming pool, fitness center, 4,844-square-foot retail arcade, access to two championship golf courses (The Bay Course and The Plantation Course) and instruction at Kapalua Golf Academy. In addition, guests can …

November 21, 2016

Hawaii Hospitality Western

The Grand Naniloa Hotel Hilo Opens in Hawaii

by Nellie Day November 14, 2016

HILO, HAWAII — DoubleTree by Hilton has opened the Grand Naniloa Hotel Hilo, a 320-room hotel on the Big Island of Hawaii. The historic property recently underwent a $30 million renovation. The hotel includes Hilo’s only nine-hole golf course, along with a swimming pool and fitness center. It is located at 93 Banyan Drive. WHR LLC owns the property, which Aqua-Aston Hospitality manages.

November 14, 2016

Hawaii Mixed-Use Western

Salem Partners to Build $700M Mixed-Use Tower in Honolulu

by Nellie Day October 11, 2016

HONOLULU — The Honolulu City Council has approved Salem Partners’ plan to develop a 36-story mixed-use tower in Honolulu. The $700 million project will be situated across from the Convention Center. Named Mana`olana Place, this will be the first project in the city’s newly adopted Ala Moana transit-oriented district. The tower will feature 505,000 square feet that will house a 125-room ultra-luxury hotel, 109 condominiums, about 12,500 square feet of retail and dining, a large public plaza and gardens. Construction is expected to start in 2017 for completion in 2020. Mana`olana Place will create a pedestrian-friendly environment with street frontages leading to the public plaza at the corner of Kapiolani Boulevard and Atkinson Drive.

October 11, 2016

Hawaii Retail Western

Applebee’s Opens First Restaurant in Hawaii

by Nellie Day October 5, 2016

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.

October 5, 2016

Hawaii Loans Top Stories Western

Wells Fargo Provides $238M Refinancing for Howard Hughes Corp.’s Ward Village in Honolulu

by John Nelson September 29, 2016

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 …

September 29, 2016

Hawaii Western

Honolulu Authority for Rapid Transportation Announces $875M Light Rail Expansion

by Nellie Day September 28, 2016

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.

September 28, 2016

Hawaii Retail Western

DeBartolo Development to Open 1.4 MSF Mall in Hawaii

by Nellie Day September 8, 2016

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.

September 8, 2016

Hawaii Loans Retail Western

Sonnenblick-Eichner Co. Secures $59M Refinancing for Pearl City Gateway in Hawaii

by Nellie Day September 8, 2016

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.

September 8, 2016

Hawaii Retail Western

Taubman’s International Market Place Opens in Honolulu

by Nellie Day August 29, 2016

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.

August 29, 2016

Hawaii Retail Western

Nordstrom Opens New Store at Ala Moana Center in Honolulu

by Nellie Day March 15, 2016

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.

March 15, 2016

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