Rare fee-simple student housing property transacts near the University of Hawaii at Manoa

CHICAGO, Oct. 3, 2024 -  JLL Capital Markets announced today 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 St., 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. All units are fully furnished, featuring equipped kitchens, stainless steel appliances, spacious rooms and updated bathrooms.

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.

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