Trust offering leasehold conversion at 4 condos

Sales at Foster Tower and three other sites in Waikiki will fund Liliuokalani projects

By Allison Schaefers

POSTED: 01:30 a.m. HST, Jan 29, 2012

~~<p>Queen Liliuokalani Trust, which earns 70 percent of its revenue from Waikiki holdings, plans to diversify by offering the fee interests to Foster Tower and reoffering fees at three other nearby condominiums.</p>
<p>The offering, which started on Saturday, comes a decade after the alii trust declined to sell its fee-simple interests in Foster Tower to eight of 142 residential lessees who had petitioned the city to use its eminent-domain powers to force leasehold conversion.</p>
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Queen Liliuokalani Trust, which earns 70 percent of its revenue from Waikiki holdings, plans to diversify by offering the fee interests to Foster Tower and reoffering fees at three other nearby condominiums.

The offering, which started on Saturday, comes a decade after the alii trust declined to sell its fee-simple interests in Foster Tower to eight of 142 residential lessees who had petitioned the city to use its eminent-domain powers to force leasehold conversion. Login for more...