HONOLULU, HI—Atalanta Realty Investments, a Southern California-based, real estate investment firm founded in 2013 by managing principal Jennifer N. Taylor, has re-entered the market with the acquisition of two class B, office assets in Downtown Honolulu. Taylor is intimately familiar with these properties as her former company, Arroyo Realty Partners, had purchased, owned and managed Haseko Center and Ocean View Center before divesting of them along with other repositioned assets in 2007, just prior to the real estate bust.
Taylor, a well-respected professional in the commercial real estate industry, had successfully turned around these two assets with both physical and management improvements previously, before exiting to an institutional investor, GlobeSt.com has learned. Atalanta will take a similar investment approach with these two assets, which are currently underperforming.
Haseko, which is located at 820 Miliani St., is just 62% leased and occupancy at Ocean View, which is located at 707 Richards St., is 85%.
The properties are prominent office buildings in downtown Honolulu and provide the best parking ratios in the CBD. Additionally, they offer superior harbor views and are steps away from the circuit courts. Ocean View Center fronts a greenbelt, and Haseko Center a pedestrian mall on Mililani Street.
Taylor tells GlobeSt.com that “Atalanta was strategically formed in 2013 in anticipation of the market returning very soon after we launched the company. We wanted to be thoroughly prepared to take advantage of new opportunities and to already have properties on our radar that we know might become available.” She adds that “The sale of these two assets could not have been a better investment for us to re-enter the market.”
Check back with GlobeSt.com in the next day or so for more from on plans for these assets as well as more on why Hawaii.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
