Kamehameha Schools has announced that they have sold the Hawaii Kai Towne Center to ValueRock Realty Partners. The exact financial terms were not disclosed, but the Hawaii Kai Towne Center is the fourth-largest shopping center on the island and includes two suburban office buildings, a self-storage facility, and a retail shopping and dining center on a 30-acre lot. L. Jack Wong, the CEO for Kamehameha Schools stated, "The transition of Hawaii Kai Towne Center from a fully owned Kamehameha Schools property to one where KS retains the land but sells its improvements strengthens our perpetual endowment in support of our educational mission."
David Lee, the founder and chairman of ValueRock, added, "Over the years, ValueRock Realty Partners has been engaged in ownership and management of key Hawaii properties, We are pleased to have the opportunity to expand our presence here by adding Hawaii Kai Towne Center, a quality, mixed-use asset, to our portfolio."
Source: Honolulu Star Advertiser, 11-27-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
