Pacific Retail Capital Partners Acquires Kings' Shops in Waikoloa, Hawaii
Slice of Real Estate Team
10/25/2024
Key Highlights:
- Pacific Retail Capital Partners expands Hawaiian portfolio with Kings' Shops acquisition.
- Joint venture with Starwood Property Trust and Taconic Capital Advisors.
- Plans to enhance Kings' Shops with capital improvements and a 'Big Changes for the Big Island' campaign.
- New high-profile retailers include Travis Matthews, Lululemon, and Kahala.
- PRCP specializes in community-centered events, including the Great Waikoloa Rubber Duckie Race.
Source: Business Wire
Quotes
“ “We are thrilled to have acquired Kings’ Shops alongside highly-respected institutional partners Starwood and Taconic.” ”
Oscar Parra, Executive, Capital Markets at Pacific Retail Capital Partners
Our Take:
The acquisition of Kings' Shops by Pacific Retail Capital Partners, alongside Starwood and Taconic, signals a strategic investment in Hawaii’s thriving retail market. PRCP’s proven expertise in managing similar properties, including Queen Kaʻahumanu Center, positions them to elevate Kings’ Shops as a key destination on the Kohala Coast. The planned capital improvements and high-profile retail additions will undoubtedly enhance the shopping experience while reinforcing the center’s deep ties with the local community. This acquisition reflects a long-term commitment to sustainable growth and cultural integration in Hawaii’s retail landscape.
