In The News
Kukui Gardens sale almost done
July 29, 2006
Honolulu Advertiser
San Francisco-based Carmel Partners said it intends to complete its $130 million acquisition of Kukui Gardens Apartments once the deal receives approval by the U.S. Department of Housing and Urban Development.
Christopher Beda, Carmel’s chief investment officer, said in a news release yesterday the buyers will continue to operate Kukui as a rental project over the long term.
Some residents and community leaders oppose the sale of the 857-unit apartment complex near Chinatown, saying it will lead to the displacement of hundreds of low-income and elderly tenants.
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