NEWS RELEASE
Kamehameha Schools sells Hawaii Kai Towne Center to ValueRock Realty Partners
Posted: December 1, 2014
Kamehameha Schools and ValueRock Realty Partners announced today that they have completed the sale of the buildings and other improvements at Hawaii Kai Towne Center. Financial terms of the transaction are confidential.
“The transition of Hawaii Kai Towne Center from a fully-owned Kamehameha Schools property to one where KS retains the land but sells its improvements strengthens our perpetual endowment in support of our educational mission,” said CEO L. Jack Wong.
“Over the years, ValueRock Realty Partners has been engaged in ownership and management of key Hawaii properties. We are pleased to have the opportunity to expand our presence here by adding Hawaii Kai Towne Center, a quality, mixed-use asset, to our portfolio,” said David Lee, Founder and Chairman of ValueRock Realty Partners.
HAWAII KAI TOWNE CENTER
Hawaii Kai Towne Center is a 30-acre master-planned complex comprising a retail shopping and dining center, two suburban office buildings, a Costco warehouse and a self-storage facility. The Center hosts regular community events, a weekly farmer’s market and entertainment on the Center’s waterfront stage.
About ValueRock Realty Partners
ValueRock Realty Partners is a vertically-integrated real estate company. The firm currently owns over 2.5 million square feet of retail and mixed-use property located throughout the Western U.S. and Hawaii. ValueRock Realty Partners’ operating platform is comprised of expertise in the following areas: investment management, private equity, acquisitions, asset management, leasing expertise, design and development. Due to the depth of the ValueRock team, the firm is positioned to invest in and operate all major property types. The firm’s principals have directly invested in and operated a diverse spectrum of property types in numerous markets over the past two decades and been involved with more than $20 billion dollars of transactions. For more information on ValueRock Realty Partners, visit www.valuerockrealty.com.
ValueRock media contact: Jessica Spaulding jessica@spauldingthompson.com
About Kamehameha Schools
Kamehameha Schools is a private, educational, charitable trust founded and endowed by the legacy of Princess Bernice Pauahi Bishop. Kamehameha Schools operates a statewide educational system enrolling over 6,900 students of Hawaiian ancestry at K-12 campuses on O‘ahu, Maui and Hawai‘i and 30 preschool sites statewide. Over 40,400 additional Hawaiian learners and caregivers are served each year through a range of other Kamehameha Schools’ outreach programs into community schools, community collaborations and financial aid opportunities. Income generated from its Hawai‘i real estate and portfolio of diverse financial investments fund 96% of the Schools’ educational mission.
For more information about Kamehameha’s commercial real estate activities, go to www.ksbe.edu/cred
