COMMERCIAL PROPERTIES

Through management and development of its 1,500 acre commercial real estate portfolio, the Commercial Real Estate Division (CRED) of Kamehameha Schools generates more than $230 million and $130 million net income annually to support the mission of Kamehameha Schools. The high-performing portfolio consists of a diversified mix of assets in the state of Hawaii and includes significant land assemblages in the urban core that are being master planned and positioned for higher and better uses. Through active and prudent investment management, Kamehameha Schools has achieved total returns in the top 5 percent of peer benchmarks over the past 1, 3 and 5 years.

CRED directly owns and operates a portion of its portfolio and also ground leases real estate assets to others. A small sampling of these assets and major redevelopment areas are shown below.

Owned and Operated Real Estate

Ground Lease Holdings

Major Urban Redevelopment Areas