By Mike Ratliff | MHN Online
Honolulu—Blackstone knows a good a project when it sees one. It doesn’t get much better than The Howard Hughes Corp.’s (HHC) Ward Village, a mixed-use master-planned community that will rise on 60 acres situated directly between downtown Honolulu and Waikiki on Oahu.
HHC announced it had secured a $600 million non-recourse construction loan from Blackstone Real Estate Debt Strategies for the first two condominium towers at the project: Waiea and Anaha. The loan closed on Nov. 6, and bears interest at one-month LIBOR plus 6.75 percent with a December 2019 final maturity date, according HHC’s 3Q14 earnings report.
