November 30, 2017
Kauai Village, a 109,466-square-foot, grocery-anchored community shopping center in Kapaa, HI, has sold for $43.55 million. Austin, TX-based Epic Real Estate Partners purchased the asset free and clear of existing debt.
HFF marketed the property on the island of Kauai on behalf of the seller, ValueRock Realty Partners, and arranged $32.325 million in acquisition financing on behalf of the new owner. The HFF team placed the three-year, floating-rate loan with a life company.
The 81.2%-leased center is home to such retailers as Safeway, Ross Dress for Less, Panda Express, Starbucks and ABC Stores. Completed in 1989, the center underwent renovations to the anchor space in 2014, and select tenant space was renovated and expanded in 2017. The center is situated on 8.23 acres at 4-831 Kuhio Highway in Kapaa, Kauai’s largest city.
HFF’s Gleb Lvovich represented the seller. HFF’s buyer debt placement team included Kyle Spencer and John Chun.
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