Pacific Retail Capital Partners Acquires Kings' Shops in Waikoloa, Hawaii

Author

Slice of Real Estate Team
October 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.

Notable Quotes:

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“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
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“Kings' Shops stands out as a cornerstone of the Waikoloa community.”

Austin Friedman, Investment Team Member at Taconic Capital Advisors
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“Starwood is excited to be working with our longstanding partners on this new vision for Kings’ Shops.”

Jason Jones, Chief Investment Officer, Real Estate Investing Division at Starwood Property Trust

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.