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HONOLULU — Coastal Rim Properties has purchased a 12,842-square-foot land parcel in downtown Honolulu from an affiliate of Next Realty for an undisclosed price.
The buyer plans to develop a 20-story affordable seniors housing tower on the property, which is located at 1192 Alakea St. The site currently houses a vacant parking lot.
Steven Sofos of Sofos Realty Corp. represented the seller, while Matt David and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego provided advisory services for the transaction.