JLL Capital Markets announced that it has arranged the sale of Hale Mahana, a rare fee-simple student housing property serving the flagship University of Hawaii at Manoa in Honolulu, Hawaii.
JLL worked on behalf of the seller, Greystar, to procure the buyer, a joint venture between Timberline Real Estate Ventures and an Ares Management Real Estate fund.
Conveniently located at 2615 S King Street, Hale Mahana is just a short 0.18-mile walk from the University of Hawaii campus. The University of Hawaii has seen impressive enrollment growth, with a 6% increase since 2020, largely driven by their record-breaking first-year class of over 3,000 students, surpassing their previous record by 5.7%. As a result, Hale Mahana is proud to serve a student population of over 19,000 at the University of Hawaii.
Built in 2018, Hale Mahana is a 191-unit, 589-bed student housing property, offering best-in-class amenities like study rooms, a computer lab, covered parking, a fitness center, a rooftop deck with grilling stations and ground level retail including Raising Cane’s, Jersey Mike’s and many others. The complex offers one-, two-, three- and four-bedroom units. Hale Mahana stands out as one of the few purpose-built student housing properties available to cater to the increasing demand at the University of Hawaii.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
