Waianae Mall

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  • A&B Properties Acquires West Oahu Shopping Mall for $29.8M

    A&B Properties Inc., the real estate subsidiary of Honolulu-based Alexander & Baldwin, has acquired the 170,275 square-foot Waianae Mall in Leeward Oahu from TNP Strategic Retail Trust Inc. The $29.8 million purchase price included the assumption of a $19.7 million mortgage, at a 5.4 percent interest rate. "The Waianae Mall acquisition redeploys proceeds realized from a July 2012 land sale, on a tax-advantaged basis, into a favorably priced, significantly higher income-generating commercial property on Oahu," said Christopher J. Benjamin, A&B's president & chief operating officer.

    Honolulu 28 January 2013 06:27

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