Park Lane Ala Moana Sales Begin

01/09/15

Owner-occupant sales for 107 luxury residences along Ala Moana Boulevard and Piikoi Street began in January. Anticipated completion for phase one is late 2016, with the final phase finishing at the end of 2017.

AMX Partners, LLC, comprised of Hawaii’s leading residential developers The MacNaughton Group, Kobayashi Group, and BlackSand Capital LLC, along with landowner General Growth Properties, Inc. (NYSE: GGP), today announced that owner-occupant sales for the highly anticipated Park Lane Ala Moana will commence on Saturday, January 10, 2015, starting at 8:00 am (HST) at the Park Lane Lounge. This collection of visionary homes will be offered to interested owner-occupant buyers based on their chronological arrival time to the Lounge. There are 107 residences available in this owner-occupant offering.

Park Lane Ala Moana is located at 1388 Ala Moana Boulevard and when complete will feature residences that offer the spaciousness and privacy of a large single-family estate with the security, convenience, and amenities on par with the world’s most iconic condominium communities. The 215 residences are legacy properties for owners’ families to enjoy for generations to come. Park Lane is being constructed in phases; phase one is expected to be complete by late 2016 with the final phase being finished by the end of 2017.

Park Lane’s seven, six-story buildings feature 215 spacious homes ranging from 850 square-foot one-bedroom residences to expansive 6,000 square-foot five-bedroom penthouses. Two additional levels are reserved for private residential parking. Prices for one-bedroom residences start from $1.192 million and range up to $28 million for the five-bedroom penthouses.

“We are truly excited to begin the owner-occupant sales for these remarkable oceanside homes,” said Duncan MacNaughton, chairman of The MacNaughton Group. “Combining a breathtaking location and an exceptional range of unique and private amenities, with exclusive direct access to Ala Moana Center and the world’s finest retailers, Park Lane Ala Moana is an iconic residential resort community.”

Demonstrating their commitment and confidence in the success of the project, the developers broke ground in July, 2014 on Park Lane Ala Moana prior to the commencement of sales – highly unprecedented in the development industry.

Extending approximately one-quarter mile along Ala Moana Boulevard from Neiman Marcus and wrapping around to Piikoi Street, Park Lane Ala Moana will feature the very best in residential living, including elegant Hawaiian-style design and architecture with generous indoor-outdoor living spaces to entertain.

“We sought the input of more than 200 luxury home buyers from Hawaii and around the globe, incorporating their preferences into the design of Park Lane Ala Moana. This is truly a hand-crafted condominium development that offers just over 90 different floor plan options for buyers to choose from,” said Bert Kobayashi, Sr, Kobayashi Group founder.

Ten-foot ceilings, warm tones, natural materials, and uncompromising quality in every detail create Park Lane’s timeless sense of place. Each residence will enjoy ocean views and maximize Hawaii’s natural light and trade winds. Some residences will feature tropical gardens, private pools or spas, and private enclosed garages. Lanais ranging from 300 to 1,100 square feet with vented outdoor grills and cooking areas provide ideal, enclosed gathering places for family and friends in every home.

Park Lane residents will enjoy signature resort-like services that have become synonymous with Kobayashi Group and The MacNaughton Group’s other successful residential developments such as Hokua at 1288 Ala Moana, ONE Ala Moana, and Kukio on Hawaii Island. Access to a private “Park Lane” – a landscaped, art-filled, and beautifully designed walkway modeled after New York City’s celebrated High Line – will enhance the openness of Park Lane and lead residents to an exclusive entrance to Ala Moana Center. Other features include a vast Great Lawn, 24/7 security, and a spa and fitness facility that will rival some of the finest hospitality offerings in the Hawaiian Islands.

Further Park Lane’s location just across from Ala Moana Beach Park will offer outstanding ocean views as well as secure, private access to the celebrated Ala Moana Center with hundreds of luxury retail and dining options.

The construction of Park Lane residences coincides with Ala Moana Center’s current expansion and redevelopment, which includes the addition of the state’s first Bloomingdale’s. Upon completion in 2015, Ala Moana Center will encompass almost 3,000,000 square feet of retail space; an enhanced center court area and stage; and fresh amenities in the Makai Market food court.

The Park Lane Ala Moana Lounge will offer special hours for the commencement of owner-occupant sales: Saturday, January 10, 2015: 8:00 am to 5:00 pm.

The Park Lane Lounge is located on the ground floor of Hokua at 1288 Ala Moana Boulevard, Suite 104.

Exclusive Project Broker for Park Lane Ala Moana: Heyer & Associates LLC. Courtesy is offered to qualifying brokers.

To receive additional information on Park Lane Ala Moana, visit: www.parklanealamoana.com.

ABOUT THE MACNAUGHTON GROUP The MacNaughton Group is recognized as one of the most active real estate development and investment companies in the State of Hawaii, leveraging over four decades of established experience and strong local relationships. Since inception in 1967, The MacNaughton Group has a demonstrated track record of success with a cumulative Hawaii-based portfolio in excess of 8.5 million square feet. Over the last several decades, The MacNaughton Group has helped shape the “lifestyle landscape” of Hawaii through the development of a number of the state’s most well-recognized projects including Waikele Center, Kapolei and Kona Commons. They have also co-developed Honolulu’s premier luxury high-rise condominiums Hokua at 1288 Ala Moana, Capitol Place in Downtown Honolulu, and ONE Ala Moana.

For more information, please visit: www.tmghawaii.com

  ABOUT KOBAYASHI GROUP Since 1997, Kobayashi Group has steadily grown its reputation and portfolio as one of Hawaii’s premier real estate development and investment firms. Specializing in residential, resort, commercial, medical facilities, and municipal projects, they bring experience and influence to the high-end development and business landscape in Hawaii.

As one of the most active and well-respected luxury hospitality and residential developers in Hawaii, the firm has been involved in Hawaii-based projects totaling more than $3 billion, including the Andaz Resort and Residences in Wailea, Maui and the exclusive private resort community, Kukio Golf and Beach Club on the Big Island. They have also co-developed Honolulu’s premier luxury high-rise condominiums Hokua at 1288 Ala Moana, Capitol Place in Downtown Honolulu, and ONE Ala Moana.

For more information, please visit: http://www.kobayashi-group.com

ABOUT BLACKSAND CAPITAL
BlackSand Capital is a registered investment advisor based in Honolulu that employs an active, value-driven investment strategy focused on generating attractive risk-adjusted returns through strategic real estate investments. Since inception in 2010, BlackSand has raised approximately $200 million of capital through its first private fund offering and is actively investing in the Hawaii market.

BlackSand’s founders bring extensive real estate and capital market experience in the Hawaii market, having overseen the investment of approximately $1.5 billion across numerous Hawaii property sectors during the past ten years. The Company’s founders emanate from leadership positions at two of Hawaii’s most well-respected and experienced real estate development firms, Kobayashi Group and The MacNaughton Group.

For more information, please visit: www.blacksandcapital.com

ABOUT GENERAL GROWTH PROPERTIES, INC. A leader in luxury retail, General Growth Properties, Inc. (NYSE: GGP) is a Real Estate Investment Trust and is the owner and manager of Ala Moana Center in addition to other celebrated retail properties across Hawaii and the United States. One of Hawaii’s top attractions for visitors from around the world, the center regularly receives more than 48 million (including approximately 14.5 million Japanese) shopper visitations each year.

Headquartered in Chicago, Illinois, GGP is a fully integrated, self-managed, and self-administered real estate investment trust that is focused exclusively on owning, managing, leasing, and redeveloping high-quality retail properties throughout the United States. GGP’s portfolio includes 121 high-quality retail properties in the United States, and the company is listed on the Standard & Poor’s (S&P) 500.

For more information, please visit: www.ggp.com