ROBERTDOUGLAS ADVISES DEBARTOLO DEVELOPMENT AND OPTRUST ON THE $30 MILLION REFINANCING OF THE HAMPTON INN & SUITES OAHU/KAPOLEI IN KAPOLEI, HAWAII
RobertDouglas announced today that it advised DeBartolo Development and OPTrust in the $30 million refinancing of the Hampton Inn & Suites Oahu/Kapolei in Kapolei, Hawaii. The five-year, floating-rate, interest-only financing was provided by First Hawaiian Bank, who offered a customized structure with prepayment flexibility that met the owner’s needs.
The 175-key focused-service Hotel was developed in 2016 and is the first and only Hampton Inn-branded property in Hawaii. Located in the center of Hawaii’s fastest-growing community, the property is integrated with Ka Makana Ali‘i, a mixed-use regional/lifestyle center that features more than 100 stores and restaurants, Hawaii’s second Cheesecake Factory and a state-of-the-art Consolidated Theaters.
The Hampton Inn & Suites Oahu/Kapolei, located 15 miles west of the Daniel K. Inouye International Airport and 25 miles west of downtown Honolulu, features modern, Hawaii-inspired guestrooms and suites, 886 square feet of meeting space, an outdoor swimming pool, and complimentary business and fitness centers.
“Lenders responded enthusiastically to the deal’s excellent sponsorship, high-quality real estate, and quickly-ramping cash flows,” remarked Lindsey Whang, a Senior Associate at RobertDouglas. “With a complicated leasehold structure with an entity affiliated with the State of Hawaii, First Hawaiian Bank ultimately delivered the most favorable terms at highly efficient pricing with a quick underwriting and closing process,” noted Stephen O’Connor, a Principal and Managing Director of RobertDouglas.