Pursuits
Hawaii Real Estate Paradise Returns With Goldman Loan
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Hawaii, buffeted in the aftermath of the U.S. recession and Japan’s tsunami, is benefiting from a travel rebound that’s sent tourism revenue to a record and spurred real estate investments across the islands.
Goldman Sachs Group Inc. last month announced a $1.85 billion loan for a once-distressed hotel portfolio that has five Hawaiian properties, including the Sheraton Waikiki and the Westin Moana Surfrider in Honolulu. Companies from Walt Disney Co. to Starwood Hotels & Resorts Worldwide Inc. are expanding resorts. On the Big Island, the first new residential development in at least five years is starting construction.