1541 & 1551 S. Beretania St. | Honolulu, HI 96826
PROPERTY Stats
190
UNITS
1997
Year Built
100,856
sF
PROPERTY OVERVIEW
Kulana Hale is a 190-unit affordable housing community for seniors. The property is conveniently located in the heart of Honolulu on the corner of South Beretania Street and Kalakaua Avenue. Building A is a 16-floor senior residence equipped with fire sprinklers, fire alarms/speakers, and is fully handicap accessible. Building B is a 3-story building that contains 14 market rate units along with several ground-level commercial spaces. Kulana Hale is on the major bus route and within walking distance to Times Supermarket, entertainment, banks, hospitals, and several restaurants. Furthermore, the property also consists of seven commercial units.
Kulana Hale offers many activities and events for residents and the community room features computer stations, library, exercise area with exercise equipment, large screen television, pool table, and tables and chairs for socializing. The property also provides two on-site laundry facilities, elevators, controlled access, a parking garage, and an on-site leasing office.
The property was built and placed in service in 1997 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require at least 176 units to be rented to income qualifying residents earning no more than 60% and 80% of Area Median Income (AMI) limits, which are provided by the Hawaii Housing Finance and Development Corporation. The property is beyond its initial tax credit compliance period.
Kulana Hale offers studio, one, and two bedroom apartments that feature a self-cleaning oven, garbage disposal, city views, and a patio/balcony*.
Excellent AMI Growth in Honolulu County with an Overall Increase of 30.83% Since 2018
Senior LIHTC Property Offering Studio, One, and Two Bedroom Apartments with a Variety of Amenities for Residents to Enjoy
Conveniently Located Near Area Amenities that Include Shopping, Dining, Parks, Beaches, Healthcare, Public Transportation, and Major Transportation Arteries
Honolulu, the State Capital and Largest City in Hawaii, Serves as a Major Hub for a Variety of Industries including Tourism, Hospitality, Business, Trade, and Military Defense
Honolulu has a Strong Military Presence with Approximately 50,000 Active-Duty Military Personnel, Providing an Estimated Economic Impact of $15 Billion and 100,000 Jobs
The Majority of Hawaii's Elderly Population Reside in Honolulu County, Roughly 66%, and Make Up More than One-Fourth of the County’s Population
INVESTMENT HIGHLIGHTS
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
IAN P. CLAGSTONE (B)
Broker of Record
Standard Commercial, LLC
808.208.8100
ian@standardcommercial.com
BRANDON GRISHAM
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
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1541 & 1551 S. Beretania St. - Honolulu, HI 96826
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
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1541 &1551 South Beretania St. - Honolulu, HI 96826
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
BRANDON GRISHAM
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
Managing Director
310.869.8833
edward.kim@berkadia.com
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Percent of Population Age 60+ By 2040
29%
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EDWARD KIM
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
ADAM TOMBERG
ADAM TOMBERG