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National  + Hawaii  + Office  | 

$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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.