Hawaii Distressed Commercial Real Estate

LENDER: REAL ESTATE OWNED
As of: November 2011

Hotels	Troubled Subtype	No. Units	City	Island	Owner	Lender
Lahaina Gateway	Foreclosure	136,683 SF	Lahaina	Maui	Central Pacific Bank	Central Pacific Bank
Ilikai Hotel	Foreclosure Completed	203	Honolulu	Oahu	iStar Financial	iStar Financial
Kauai Beach Resort	Foreclosure Completed	145	Lihue	Kauai	iStar Financial	iStar Financial
Turtle Bay Resort	Delinquent/Default, Foreclosure Completed	443	Kahuku	Oahu	Credit Suisse	Credit Suisse
Ritz-Carlton Kapalua	Delinquent/Default; Funding Stop;Auction/Trustees Sale Scheduled;Foreclosure Completed	548	Lahaina	Maui	Lehman Brothers Holdings Inc	Lehman Brothers Holdings Inc

Office Properties	Troubled Subtype	SF	City	Island	Owner	Lender
Waikiki Trade Center	Foreclosure Completed	204,000	Honolulu	Oahu	IXIS

Retail Properties	Troubled Subtype	SF	City	Island	Owner	Lender
Coconut Grove	Foreclosure Completed	48,696	Kailua-Kona	Big Island	LNR Property Corporation	LNR Property Corporation

LOANS IN DEFAULT / DELINQUENT / MATURING / RECEIVER

Development	Troubled Subtype	SF	City	Island	Owner	Lender
Kaleeloa Blvd & Opakapaka Street	Delinquent/Default	2,339,608	Kapolei	Oahu	LV Kapolei 54, LLC	Central Pacific Bank
Waiakoa Ranch	Delinquent/Default; Foreclosure Initiated; Deferred/Abandoned Property	81,021,600	Kula	Maui	Woodridge Capital LLC	iStar Financial

Hotels	Troubled Subtype	No. Units	City	Island	Owner	Lender
Aloha Beach Resort	Foreclosure Initiated; Owner Financially Challenged	216	Waikiki	Oahu		Wells Fargo
Kapalua Bay Renaissance Resort	Delinquent/Default	210	Lahaina	Maui	Marriott International JV Exclusive Resorts

LOANS IN DEFAULT / DELINQUENT / MATURING / RECEIVER

Office Properties	Troubled Subtype	SF	City	Island	Owner	Lender
Airport Center	Maturing Loan, Maturity Default/Past Due, Receivership	111,000	Honolulu	Oahu	Morgan Stanley	CMBS: LNR Partners
One South King	Transferred to special servicer	82,829	Honolulu	Oahu	Shidler Group	CMBS: J.E. Robert Companies

Industrial Properties	Troubled Subtype	SF	City	Island	Owner	Lender
Kakaako Warehouse	Receivership	168.853	Honolulu	Oahu	F&F Waimanu Associates	CMBS: LNR Partners

Shopping Centers	Troubled Subtype	SF	City	Island	Owner	Lender
Cantebury Place Commercial Condo	Delinquent/Default; Owner Financially Challenged; Owner/GP Bankrupt	136,683	Honolulu	Oahu	1910 Partners	Pacific Guardian Life
Nimitz Center	Maturing Loan, Transferred to Special Servicer	154,093	Honolulu	Oahu	Ronin Properties, LLC	CMBS: LNR Partners
Laniakea Plaza	Foreclosure Initiated, Transferred to Special Servicer, Owner Financially Challenged, Owner/GP Bankrupt	27,445	Waipahu	Oahu		CMBS: LNR Partners

Colliers Monroe Friedlander is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. The information contained herein comes from sources deemed reliable; however, Colliers Monroe Friedlander, Inc. makes no representation or warranty as to accuracy and said information is subject to change without notice. No subagency offered.

 

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