Assignment Overview
RobertDouglas advised Rockpoint Group, BlackSand Capital, and Evolution Hospitality on a redevelopment financing for the Ohana Waikiki West in Waikiki, HI. The $50 million construction financing was provided by Wells Fargo Bank.
Project Overview
The Ohana Waikiki West will undergo a substantial redevelopment process to reopen in the summer of 2016 as a 621-key Hilton Garden Inn. Upon completion, the Hilton Garden Inn is poised to quickly establish itself as an upscale, premium select-service hotel offering with newly transformed guestrooms; upgraded lobby and public spaces with high ceilings; new food and beverage outlets; and a refreshed swimming pool deck and bar. Situated in the heart of Waikiki, the Property is located directly across Kuhio Avenue from Taubman’s International Market Place, a 360,000-square-foot retail esplanade that is undergoing a massive $120 million redevelopment.
Deal Highlights
| Client (Borrower): Lender: Financing Proceeds: Key Count: | Rockpoint Group, BlackSand Capital, and Evolution Hospitality Wells Fargo $50 million 621 keys (upon completion) |
