LOS ANGELES, CA (December 20, 2016) — Holliday Fenoglio Fowler, L.P. (HFF) has arranged $96 million in financing for the development of Timbers Kaua’i – Ocean Club & Residences, a private oceanfront residence club within the planned Hokuala Resort in Lihue on the Hawaiian island of Kaua’i.
HFF worked exclusively on behalf of the borrower to secure construction financing from Mosaic Real Estate Credit, LLC, a firm co-founded by industry veterans Ethan Penner and Vicky Schiff.
Timbers Kaua’i – Ocean Club & Residences (Timbers Kaua’i), due for completion in summer 2017, will be the first real estate component of the planned 450-acre Hokuala Resort development that encompasses the existing award-winning Jack Nicklaus Signature Golf Course. Future developments within the resort will include a boutique hotel, luxury residential neighborhood, retail shopping village, resort spa, multiple dining options and multiple wedding venues. With nearly one mile of beachfront cliffs and coastal trails creating dramatic ocean and mountain views from all areas of the property, the resort experience will revolve around golf, tennis, hiking and biking trails, beach activities and ocean/mountain adventures.
Timbers Kaua’i will feature 47 fractional- (1/6 and 1/12 fractions) and whole-ownership condominiums and townhomes offering a variety of two-, three- and four-bedroom floor plans. Units will provide access to a wide range of amenities, including an infinity-edge, oceanfront swimming pool with expansive terrace; family pool with beach entry, waterslide and waterfalls; poolside dining; fitness center and motion studio with outdoor lanai; spa and wellness center; Keiki Club for children; business center; club lounge; retail and sundries shop; and the private Ocean Club restaurant. Owners at Timbers Kaua’i will be members of the Timbers Collection, offering a host of perks and privileges from some of the most recognized travel and lifestyle partners around the world, as well as the opportunity to trade vacation time with other owners through the Timbers Reciprocity Program and experience destinations throughout the entire Timbers portfolio. Overlooking Nawiliwili Bay, the property is situated less than two miles south of the Lihue Airport.
The HFF debt placement team representing the developer was led by senior managing director Paul Brindley, director Bryan Clark and associate Brad Greenway.
About Timbers Resorts
Timbers Resorts is the developer and operator of a collection of properties in over 15 of the world’s most diverse high-end destinations. A portfolio known as the Timbers Collection, destinations include boutique, private resorts, hotels and residence clubs in ski, golf, leisure and beach locations. Since 1999, Timbers Resorts has been committed to being authentic, unique and respectful of the destination, focusing on family and experiences, and never compromising with regard to quality and service. Owners at properties in the Timbers Collection are granted an ownership experience with expanded benefits through a host of travel and lifestyle partners such as Sentient Jet, Hertz, MedJet Assist and more, as well as access to the Timbers Reciprocity Program and the ability to trade vacation time with other destinations in the portfolio. Current Timbers Collection properties can be found in Napa, Tuscany, Aspen, Steamboat, Vail, Cabo San Lucas, Kaua’i, Sonoma and Scottsdale, among other locations. For more info, please visit timbersresorts.com, facebook.com/timbersresorts, twitter.com/timbersresorts and pinterest.com/timbersresorts.
About Mosaic Real Estate Credit, LLC
Launched in the spring of 2015 by industry veterans Ethan Penner and Vicky Schiff, Mosaic Real Estate Credit, LLC (“MREC”) is an affiliate of Mosaic Real Estate Investors. MREC’s strategy is designed to address the needs of real estate borrowers to provide bridge debt capital to successful real estate entrepreneurs and institutional borrowers aiming to add value to their assets through development, redevelopment and repositioning. MREC’s investment can take the form of a first mortgage loan, as well as mezzanine or preferred equity structures.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
PRESS RELEASE SOURCE: HFF, Inc.
HFF Senior Managing Director
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