MAUI, HI-WV Sub, LLC, an entity controlled by General Growth Properties, has secured an $80-million 10-year loan through Goldman Sachs & Co. for Whalers Village here. The fixed-rate securitized loan will refinance an existing loan on the 110,836-square-foot open-air shopping and entertainment center.
Holliday Fenoglio Fowler LP worked exclusively on behalf of the borrower. According to HFF, Whalers Village ranks first in market share in Maui capturing approximately one of every four retail dollars spent on Maui.
Whalers Village is located at 2435 Kaanapali Pkwy. in western Maui within walking distance to approximately 5,000 hotel, timeshare and condominium units along Kaanapali Beach. Originally built in 1970, the property has been renovated and expanded over the years and is currently 98% leased to 70 tenants. Notable tenants include Louis Vuitton, Tommy Bahama, Coach, Pacific Sunwear, Hula Grill, Leilani’s Restaurant and Cane & Taro Restaurant. Whalers Village is also home to the Whalers Village Museum and Theater, and the mall’s center stage that hosts more than 350 performances a year.
The HFF team representing the borrower included senior managing director Paul Brindley, director John Crump and executive managing director Mark Gibson.
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Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
