HONOLULU-The city of Honolulu is negotiating a deal to sell 1,257 housing units to a private group. Honolulu Affordable Housing Partners, a venture that includes Honolulu investors Richard Gushman and Stephen Gelber and California-based Highland Property Development LLC, will pay $142 million to the city for the portfolio.
The venture also plans to spend nearly $40 million to upgrade the units. The portfolio includes bungalow-style structures in Ewa Beach and Marin Tower, a 28-story property in Honolulu's Chinatown. For the full story, go to Wall Street Journal .
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