Hawaii Hotel Investment Market
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Utah firms complete purchase of Embassy Suites hotel property in Kapolei

This won’t be the last globally-branded, limited-service hotel coming to Oahu.  These hotels will be a welcome addition to the local supply.

Utah firms complete purchase of Embassy Suites hotel property in Kapolei

Jul 31, 2015, 2:22pm HST
Duane Shimogawa Reporter Pacific Business News

Kapolei Hotel Partners LLC, comprised of two Utah firms, has completed the purchase of a nearly three-acre parcel in Kapolei within the Leihano mixed-use development that will be used to build a $60 million Embassy Suites by Hilton hotel, the listing representative for Leihano told PBN Friday.

The purchase price of the land was not disclosed.

By early 2017, the 40-acre Leihano of Kapolei will have the first limited-service hotel in Oahu’s so-called “Second City.”

Construction is expected to begin later this year on the seven-story, 180-room hotel.

The project, which was first reported by PBN, is the third hotel being planned for West Oahu. It will include a restaurant, bar, swimming pool and meeting rooms.

Kapolei Hotel Partners comprises two firms from Salt Lake City, including Thackeray Garn Co., a commercial real estate firm focused on ground-up development and acquisitions, and Western States Lodging, a property management company focusing on hotels and senior communities.

Located at the junction of Fort Barrette Road and Kapolei Parkway, the Leihano development is a master-planned, mixed-use community, with one to five-acre fee simple parcels for sale.

Kisco Senior Living, whose affiliate is developing Leihano, is close to finishing its Ilima at Leihano three-story, 84-unit independent and assisted living community that’s located on a four-acre site within Leihano.

Ilima’s opening is expected later this year.

Other entities in Leihano include St. Jude Catholic Church, First Hawaiian Bank, C.S. Wo and National Kidney Foundation, according to Nathan Fong, senior vice president for Colliers International Hawaii, who is the listing representative for Leihano.

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F. Kevin Aucello has established himself as a leader in the tourism and hotel investment markets in Hawaii, Micronesia, Japan and the South Pacific. Kevin possesses many years of diversified experience providing a full range of advisory services for companies with equity, debt and leasehold real estate interests in the Pacific Rim. Kevin contributes key experience in the sale, strategic management and loan structuring of all types of real estate assets. He has extensive knowledge of all facets of the major global hotel brands and has developed relationships with senior executives in these companies.

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