Howard Hughes Corp. Closes on $238M Refi for Honolulu’s Ward Village

Howard Hughes Corp. has obtained $238 million in refinancing for its Ward Village master-planned community in Honolulu, HI. The refi was obtained against debt due to mature on Sept. 29. Wells Fargo & Co. provided the loan.

The new, non-recourse term loan bears interest at 2.5% over LIBOR, with an initial maturity date of Sept. 12, 2021. The loan also offers two, one-year extensions. The financing is secured by the Ward Village commercial properties, excluding condominium towers currently under construction.

Ward Village is a 60-acre coastal master-planned community between downtown Honolulu and Waikiki in the Kaka’ako district. The development has three mixed-use residential towers that are under construction. Additional development includes Gateway Towers and Ke Kilohana.

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