POSTED: 12:00 p.m. HST, Feb 21, 2011
LAST UPDATED: 9:30 a.m. HST, Apr 21, 2011
A mortgage banking firm in Texas has secured $80 million in refinancing for Whalers Village in Kaanapali on Maui.
Holliday Fenoglio Fowler L.P. arranged a 10-year, fixed-rate loan through Goldman Sachs & Co. to replace an existing loan on the property, which was maturing this year, said Kristen Murphy, HFF associate director of marketing.
The center at 2435 Kaanapali Pkwy. in western Maui is owned by WV Sub LLC, an entity controlled by General Growth Properties Inc.
The property has about 70 stores within walking distance of approximately 5,000 hotel, timeshare and condominium units along Kaanapali Beach.
Whalers Village was built in 1970 and has been renovated and expanded over the years. Tenants include Louis Vuitton, Tommy Bahama, Coach, Pacific Sunwear, Hula Grill, Leilani's Restaurant and Cane & Taro Restaurant. It also houses the Whalers Village Museum and Theater.