August 8, 2017
Duesenberg Investment Co., owner of the TOPA Financial Center, two 23-story, Class A office towers in downtown Honolulu, obtained $75 million in fixed-rate financing with help from Newmark Realty Capital. The asset consists of 508,000 square feet encompassing a full city block.
George Mitsanas and Jasmine Polson of Newmark’s Los Angeles office arranged the fixed-rate financing on behalf of the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders.
TOPA Financial Center, at 745 Fort St. and 700 Bishop St. delivered between 1969-1971. In addition to office space, the property includes retail shops, restaurants, an on-site health club, tenant conference suites and car-washing and detailing services.
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