11North Partners Acquires Lahaina Cannery And Lahaina Gateway For $155 Million From U.S. Realty Partners
1221 Honoapiilani Highway & 325 Keawe Street
$155,000,000
Building Size
—
Asset Type
Retail
Closing
Oct 12, 2026
About this deal
AI
The transaction involves the acquisition of Lahaina Cannery and Lahaina Gateway, which are grocery-anchored shopping centers located at 1221 Honoapiilani Highway (Hawaii State Route 30) & 325 Keawe Street in Lahaina, HI. The sale price for the properties is $155,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $155,000,000
- Buyer: Brian Harper - 11North Partners
- Seller: Jay Kerner - U.S. Realty Partners
- Broker Representatives: Bryan Ley & Tim Kuruzar - NorthMarq; Jamie Brown - Hawaii Commercial Real Estate
- Lender: PNC Bank
- Mortgage Brokers: Joe Giordani, Alex Kane & Matthew Radich - NorthMarq
11North Partners, represented by Brian Harper, completed the acquisition from U.S. Realty Partners, represented by Jay Kerner. The financing for this acquisition was provided by PNC Bank, which arranged $96 million in fixed-rate funding, facilitated by NorthMarq's mortgage brokers.
On the Map
$155,000,000
Retail
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Players
Lahaina Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93