{"id":1004134356,"date":"2016-01-08T07:25:09","date_gmt":"2016-01-08T15:25:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134356"},"modified":"2020-05-12T03:57:59","modified_gmt":"2020-05-12T11:57:59","slug":"hff-secures-30m-refinancing-for-hawaii-hotel-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\/","title":{"rendered":"HFF Secures $30M Refinancing for Hawaii Hotel Portfolio"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Honolulu<\/strong>\u2014HFF<\/a> has arranged a $30 million refinancing loan for two full-service Honolulu hotels totaling 581 guestrooms.<\/p>\n

HFF worked on behalf of TEG Hotels LLC with a major U.S. insurance company to secure the 30-year, fixed-rate loan that has a 30-year amortization. The borrower is using the proceeds to pay off an existing loan and fund capital improvements. The properties are on a ground lease with 30.5 years remaining.<\/p>\n

\"Airport<\/a>

Airport Honolulu Hotel<\/p><\/div>\n

Both hotels are situated in Northern Honolulu, at the entrance to Honolulu International Airport, the main point of arrival for Oahu\u2019s five million annual visitors.<\/p>\n

The 307-key Airport Honolulu Hotel<\/a> is located at 3401 North Nimitz Highway and the 274-key Best Western The Plaza Hotel<\/a> sits at 3253 North Nimitz Highway.<\/p>\n

Both hotels offer fitness centers, business centers and outdoor pools with sun decks. The Airport Honolulu Hotel has two four-story buildings and features a picnic area, 3,401 square feet of meeting space and the full-service Willoughby\u2019s Restaurant. Best Western The Plaza Hotel, which comprises one 12-story tower and three two-story buildings, offers 3,024 square feet of meeting space and the full-service Plaza Caf\u00e9.<\/p>\n

\"Best<\/a>

Best Western The Plaza Hotel<\/p><\/div>\n

The hotels\u2019 surrounding area will have three stops on the Honolulu Rail Transit project, which is scheduled for completion in 2017 and will consist of 21 stations that connect West Oahu to the airport and continue into downtown Honolulu. The rail project will offer guests access to major tourist destinations, including Pearl Harbor Naval Base and Lagoon Drive. Waikiki Beach is six miles from the hotels, and Diamond Head is less than 11 miles away.<\/p>\n

Director Bill Fishel, based in HFF\u2019s Los Angeles office, led the debt placement team representing the borrower.<\/p>\n

\u201cInstitutional lenders and investors are squarely focused on increasing their allocations to Hawaii,\u201d Fishel said in prepared remarks. \u201cThe lender was exceptional to work with on this transaction, and we were thrilled to secure a 30-year financing given the borrower\u2019s long-term ownership plan and today\u2019s historically-low interest-rate environment.\u201d<\/p>\n

Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

HFF lines up long-term refinancing loan for two hotel properties in Honolulu. <\/p>\n","protected":false},"author":260,"featured_media":1004134358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1588,21751,21742,15],"tags":[],"class_list":["post-1004134356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-honolulu","category-hotel","category-latest","category-west"],"acf":[],"yoast_head":"\nHFF Secures $30M Refinancing for Hawaii Hotel Portfolio - 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\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFF Secures $30M Refinancing for Hawaii Hotel Portfolio\" \/>\n<meta property=\"og:description\" content=\"HFF lines up long-term refinancing loan for two hotel properties in Honolulu.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\/\" \/>\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=\"2016-01-08T15:25:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T11:57:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Airport-Honolulu-Hotel.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"HFF Secures $30M Refinancing for Hawaii Hotel Portfolio\",\"datePublished\":\"2016-01-08T15:25:09+00:00\",\"dateModified\":\"2020-05-12T11:57:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/\"},\"wordCount\":358,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/01\\\/Airport-Honolulu-Hotel.jpg\",\"articleSection\":[\"Deals\",\"Finance\",\"Honolulu\",\"Hotel\",\"News\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hff-secures-30m-refinancing-for-hawaii-hotel-portfolio\\\/\",\"name\":\"HFF Secures $30M Refinancing for Hawaii Hotel Portfolio - 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