Press Release brought to you by HFF

HFF announces $43.55M sale and $32.325M financing of grocery-anchored shopping center in Kapaa, Hawaii

11/28/2017

NEWPORT BEACH, CA – November 28, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $43.55 million sale of and the $32.325 million acquisition financing for Kauai Village, a 109,466-square-foot, grocery-anchored community shopping center in Kapaa, Hawaii, on the island of Kauai.

The HFF team marketed the property on behalf of the seller, ValueRock Realty Partners.  Austin, Texas-based Epic Real Estate Partners purchased the asset free and clear of existing debt.  Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate loan with a life company.

Kauai Village is 81.2 percent leased and home to Safeway, Ross Dress for Less, Panda Express, Starbucks, ABC Stores, and more.  Completed in 1989, the center underwent renovations to the anchor space in 2014 and renovated and expanded select tenant space in 2017.  The center is situated on 8.23 acres at 4-831 Kuhio Highway in Kapaa, the largest city in Kauai.  Kauai Village is adjacent to several resorts and timeshares and is located in one of the most heavily trafficked sections of Kauai along Kuhio Highway with nearly 30,000 vehicles per day.

The HFF retail investment advisory team representing the seller included Gleb Lvovich.

The HFF debt placement team representing the new owner consisted of Kyle Spencer and John Chun.

“We are thrilled to continue to grow our market share on the Hawaiian Islands with the sale of Kauai Village,” Lvovich said.  “In addition to generating local investor interest, our team was able to generate activity from mainland U.S. investors, ultimately bringing a new investor from the U.S. mainland to Hawaii for their first acquisition. This is the second new investor our team has sourced to acquire retail real estate in Hawaii in the past 18 months, complementing our recent sale of Lahaina Cannery Mall for $64.75 million in Maui.”

About ValueRock Realty Partners
ValueRock Realty Partners is one of the nation's leading real estate investment and operating companies.  ValueRock Realty Partners is focused on acquiring all types of retail and mixed-use properties, on a national level. They are opportunistic investors and operators seeking core, core-plus, along with value-add properties that are under-serving the marketplace and local customer base due to a lack of capital and proper tenant mix.  The team will consider investment opportunities up to $500 million.  Visit valuerockrealty.com to learn more.

About Epic Real Estate Partners
Epic Real Estate Partners is a commercial real estate investment firm headquartered in Austin, Texas.  In conjunction with institutional partners, Epic seeks value-add opportunities in grocery-anchored and power center retail in top 40 markets, select college towns and resort communities nationwide.  For more information, please visit Epic’s website at epicrepartners.com.

About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Source

HFF

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