September 21, 2017 Comments Off on HFF Arranges $105M Financing for Hawaiian MF Views: 1398 Hawaii, National News

HFF Arranges $105M Financing for Hawaiian MF

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Avalon Group secured $105 million in financing for 7000 Hawaii Kai Drive, a 270-unit, Class A multi-housing property located in Honolulu’s seaside community of Hawaii Kai. Working on behalf of the Honolulu-based developer, HFF placed the loan with an affiliate of KKR Real Estate Finance Trust Inc.

The development, which was completed in summer 2016, is situated on 3.8 acres at 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.

HFF’s Aldon Cole and Olga Walsh arranged the financing. Loan proceeds were used to retire the senior and mezzanine construction financing, which HFF arranged in 2014.

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