KAPOLEI, HI—Developers of the $500 million Ka Makana Ali'i mall here say they have completed the first phase of capitalization on the project.
Cushman & Wakefield and RobertDouglas are serving as co-advisors to an affiliate of Tampa-based DeBartolo Development for the project in Kapolei on the island of Oah'u, approximately 25 miles west of downtown Honolulu. Joint venture equity was provided by OPSEU Pension Trust and the $167 million construction loan for Phase I of the project was provided by The Union Labor Life Insurance Company (“ULLICO”) on behalf of its separate accounts.
The 67-acre, two-phased, 1.4 million–square-foot mixed-use open air, Macy's-anchored project, branded “Ka Makana Ali'i”, is expected to serve as the community hub of West O'ahu. Once completed, Ka Makana Ali'i will be the third-largest shopping center and the first new regional center built in all of Hawai'i in nearly 40 years.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
