11North Partners Acquires Lahaina Retail Centers For $155 Million With Financing From PNC Bank

The transaction involved the acquisition of grocery-anchored retail centers located at 325 Keawe Street and 1221 Hawaii State Route 30 in Lahaina, HI. The total sale price for the properties amounted to $155,000,000. The specific asset type for this transaction is retail, which includes notable centers such as Lahaina Cannery and Lahaina Gateway. The buyer, 11North Partners, financed a portion of the transaction with a $96 million fixed-rate loan from PNC Bank.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $155,000,000
• Buyer: 11North Partners
• Brokers: Joe Giordani, Alex Kane, Matthew (Matt) Radich, Bryan Ley, Tim Kuruzar - NorthMarq & Jamie Brown - Hawaii Commercial Real Estate
• Financing: $96 million fixed-rate loan from PNC Bank

This deal was facilitated by a strong team of brokers from NorthMarq and Hawaii Commercial Real Estate, ensuring a successful transaction for all parties involved. The broker representation played a crucial role in navigating the complexities of the retail asset market in Maui, Hawaii, during this deal.