JLL Arranges Sale of 589-Bed Community Near University of Hawaii at Manoa

Honolulu — JLL has arranged the sale of Hale Mahana, a 589-bed student housing property located near the University of Hawaii at Manoa campus in Honolulu. JLL worked on behalf of the seller of the fee-simple asset, Greystar, and procured the buyer, a joint venture between Timberline Real Estate Ventures and a fund managed by Ares Management Real Estate, in the transaction. Built in 2018 at 2615 S. King St., the community offers 191 fully furnished units in studio, one-, two-, three- and four-bedroom configurations. Shared amenities include study rooms, a computer lab, fitness center, rooftop deck with grilling stations, and covered parking. The community also includes ground floor retail space, which was leased to tenants including Raising Cane’s and Jersey Mike’s at the time of sale.