Phillips Realty Capital Structures $63M Financing for OHANA Waikiki Malia Hotel in Honolulu
HONOLULU — Bethesda, Md.-based Phillips Realty Capital has secured $63 million in financing on behalf of Lucky Hotels USA. Benefit Street Partners provided fixed-rate, permanent financing secured by the OHANA Waikiki Malia Hotel in Honolulu.
John Sieber Jr. of Phillips Realty Capital structured the financing, while Aaron Derby at Benefit Street Partners represented the lender.
Situated at 2211 Kuhio Ave. within the Waikiki Resort District, the hotel features two towers built in 1960 and 1980 and underwent a $6.2 million renovation in 2010 to update the rooms, lobby and common areas. Outrigger Hotels and Resorts manages the 327-room hotel.