{"id":1004053686,"date":"2011-10-05T15:18:05","date_gmt":"2011-10-05T23:18:05","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=19897"},"modified":"2022-12-08T01:58:43","modified_gmt":"2022-12-08T09:58:43","slug":"howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded\/","title":{"rendered":"Howard Hughes Corp. Secures $250M Loan, CB Richard Ellis Is Rebranded"},"content":{"rendered":"<p>by Liviu Oltean, Associate Editor<\/p>\n<div id=\"attachment_19899\" class=\"wp-caption alignright\" style=\"width: 258px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/10\/The-current-headquarters-of-CB-Richard-Ellis-at-the-Westwood-Gateway-office-complex-in-Los-Angeles-by-Coolcaesar.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-19899\" title=\"The current headquarters of CB Richard Ellis at the Westwood Gateway office complex in Los Angeles\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/10\/The-current-headquarters-of-CB-Richard-Ellis-at-the-Westwood-Gateway-office-complex-in-Los-Angeles-by-Coolcaesar.jpg\" alt=\"\" width=\"248\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">CBRE Group&#039;s HQ in Los Angeles, courtesy of Coolcaesar, via Wikipedia<\/p>\n<\/div>\n<p>Howard Hughes Corp. has secured a $250 million loan that will help the company redevelop the 60-acre Ward Centers in Kakaako and refinance existing mortgage loans.<\/p>\n<p>Upon completion of the redevelopment, the Ward Village Shops will be anchored by a T.J.Maxx, spread on 35,000 square feet of space on the second floor of the property.<\/p>\n<p>According to the <em>Pacific Business News<\/em>, the redevelopment will cost about $3 million,\u00a0while most of the loan ($212 million) will be used to refinance three existing mortgages.<\/p>\n<p>Currently, Ward Centers is a 550,000-square-foot shopping district that includes six specialty centers, situated along the Ala Moana Beach Park. In 2009, the Hawaii Community Development Authority granted Howard Hughes approval for a 15-year master plan. The company&#8217;s long-term project entails 9.3 million square feet of mixed-use development, 4,300 residential units, 5 million square feet of retail and 4 million square feet of office and commercial space.<\/p>\n<p>\u201cThis financing is an important first step as we launch the redevelopment and ultimately deliver our master plan to unlock the value of Ward Centers,\u201d said David R. Weinreb, CEO of The Howard Hughes Corp.<\/p>\n<p>In other news, CB Richard Ellis Group Inc. is consolidating their world-renowned brand by changing the corporate name of the company to CBRE Group Inc. An official press release states that the need to change the name emerged as a natural transition for the company, which was seeking to juxtapose the company\u2019s brand to the commercial real estate brand.<\/p>\n<p>CBRE Group Inc. remains to date as one of the largest commercial real estate services firms in the world. The Fortune 500 company focuses on strategic advice and execution of property sales and leasing for markets throughout the world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Liviu Oltean, Associate Editor<br \/>\nHoward Hughes Corp. has secured a $250 million loan that will help the company redevelop the 60-acre Ward Centers in Kakaako and refinance existing mortgage loans.<br \/>\nUpon completion of the redevelopment, the Ward Village Shops will be [&#8230;]<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[],"class_list":["post-1004053686","post","type-post","status-publish","format-standard","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Howard Hughes Corp. Secures $250M Loan, CB Richard Ellis Is Rebranded - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Howard Hughes Corp. Secures $250M Loan, CB Richard Ellis Is Rebranded\" \/>\n<meta property=\"og:description\" content=\"by Liviu Oltean, Associate Editor Howard Hughes Corp. has secured a $250 million loan that will help the company redevelop the 60-acre Ward Centers in Kakaako and refinance existing mortgage loans. Upon completion of the redevelopment, the Ward Village Shops will be [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-05T23:18:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T09:58:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/10\/The-current-headquarters-of-CB-Richard-Ellis-at-the-Westwood-Gateway-office-complex-in-Los-Angeles-by-Coolcaesar.jpg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-secures-250m-loan-cb-richard-ellis-is-rebranded\/\",\"name\":\"Howard Hughes Corp. 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