 |
| 7000 Hawaii Kai Drive Apartments, Hawaii Kai, Honolulu, Hawaii |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announces $105 million financing for 7000 Hawaii
Kai Drive, a 270-unit, Class A multi-housing property located in the
southeastern part of Honolulu, Hawaii, in the seaside community of Hawaii Kai.
 |
| Olga Walsh |
Working on behalf of the
developer, Avalon Group, the HFF team placed the loan with an affiliate of KKR
Real Estate Finance Trust Inc. (NYSE: KREF).
Loan proceeds were used to retire the senior and mezzanine construction
financing, which HFF arranged in 2014.
7000 Hawaii Kai
(7000hawaiikaidrive.com) is situated on 3.8 acres at the intersection of
Keahole Street and Hawaii Kai Drive overlooking the Hawaii Kai Marina in East
Honolulu.
The two, 10-story buildings comprise 216
market-rate studio through four-bedroom units and 54 affordable units, which
can be locked-off in various configurations utilizing a unique, flexible design
that expands into a maximum of 415 units, accommodating a wide variety of
tenant demands.
 |
| Aldon Cole |
HFF’s debt placement team
included senior managing director Aldon
Cole and senior associate Olga Walsh.
“The project attracted
very favorable institutional financing alternatives given the lack of new,
affordable for-rent alternatives in the market,” Cole said. “KREF recognized this early on and
differentiated itself from the market by providing an excellent financing
solution for Avalon and its investment partner.”
For more information on this press release, please
contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
No comments:
Post a Comment