$165M Refi for Hawaii’s Largest Office/Industrial Asset

Beverly Hills, CA-based Sonnenblick-Eichner Company arranged $165 million of non-recourse, first mortgage leasehold financing for Honolulu-based AIPA Properties, LLC to refinance a 1.3 million-square-foot, mixed-used property located adjacent to Honolulu International Airport in Oahu, HI. The 15-year, fixed-rate, interest only loan is secured by Airport Industrial Park, the largest office and warehouse complex in the state of Hawaii.

The financing was provided by a domestic life insurance company, and sized to a 65% loan to value.

Constructed in phases beginning in 1989, the 12.5-acre property offers Class A office space, telecom/data flex space and both light and high cube warehouse space with 38-foot clear heights. Airport Industrial Park is 99% leased to a diversified rent roll that includes Hawaiian Airlines, AT&T Corporation, Budget Rent-A-Car, City & County of Honolulu, the State of Hawaii and Lockheed Martin Corporation.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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$165M Refi for Hawaii’s Largest Office/Industrial Asset

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National

Property Sectors

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National CRE News In Your Inbox.

$165M Refi for Hawaii’s Largest Office/Industrial Asset

Inside The Story

About Dennis Kaiser