Bank refinances Whalers Village
A mortgage banking firm in Texas has secured $80 million in refinancing for Whalers Village in Kaanapali on Maui.
Holliday Fenoglio Fowler LP 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 Parkway 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, time-share 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.
Credit card balances decline
NEW YORK » Consumers used more plastic during the holiday season without ballooning their balances, and the delinquency rate for credit card accounts fell to its lowest point in 15 years. That’s a positive combination reflected in the latest quarterly analysis from the credit reporting agency TransUnion.
The average combined balance consumers had on their bank-issued credit cards — including MasterCard, Visa, American Express and Discover cards — fell to $4,965. That’s down 8.6 percent from the fourth quarter of 2009.
The company also noted that the number of new credit cards issued during the last three months of 2010 increased by 19 percent over the same period in 2009.
No-alcohol beer sold as sport drink
PORTLAND, Maine » Beer. It’s not just for couch potatoes anymore.
A Bavarian brewmeister is touting its no-alcohol beer as the latest sport drink for athletes, handing it out at the finish line of sporting events and touting its regenerative benefits. Unlike Gatorade, Erdinger Alkoholfrei is served up with a frothy head. And it comes in one color — a golden hue — unlike conventional sport drinks.
The company touts the beverage as an isotonic, vitamin-rich, no-additive beverage with natural regenerative powers that help athletes recover from a workout. In other words, it’s carbohydrate-loaded refreshment without the alcoholic buzz of beer or the jitters caused by some energy drinks.
German confidence at 20-year peak
BERLIN » Business confidence in Germany has risen to a new two-decade high, with manufacturers and exporters upbeat as Europe’s biggest economy motors ahead despite the debt crisis afflicting some fellow euro nations, a survey showed yesterday. The Ifo institute’s monthly confidence index, a closely watched economic indicator, was up to 111.2 points for February from 110.3 in January. It was the ninth consecutive month-on-month rise, defying expectations of a slight retreat.
Blockbuster on the block
DALLAS » Home video chain Blockbuster Inc. has opted to put itself up for sale after a previous bankruptcy reorganization plan collapsed and its business continued to deteriorate over the holidays. The struggling Dallas company submitted a plan yesterday for an auction process to U.S. Bankruptcy Court in New York. A holding company has put in an opening "stalking horse" bid of $290 million.
On the Move
Hastings & Pleadwell has hired Kanani Ranne as an account coordinator. She will oversee communications strategies for clients including Puna Geothermal Venture, W.H. Shipman Ltd. and Hu Honua Bioenergy, and on outreach for the University of Hawaii-Hilo College of Pharmacy.
Aqua Hotels & Resorts has announced the following appointments:
» June Nozoe as director of sales and marketing-Asia. Her experience includes work as senior sales manager at the Fairmont Kea Lani Hotel and in other sales management positions at Grand Wailea Hotel and Renaissance Wailea Beach Hotel.
» Janice Ishihara as director of sales-Kauai Beach Resort. She has experience in both the leisure and group market segments, including in positions at Hyatt Regency Maui, Princeville Resort and Turtle Bay Resort.
The American Institute of Architects has awarded AIA Honolulu Executive Vice President Amy Blagriff with the AIA national service award. The award recognizes her years of commitment to the architectural profession and its members, and dedication to design issues in the community. Blagriff also serves as one of only 10 members on the AIA national executive committee.