A&B Properties Opens Mainland Office

A&B, which is the real estate subsidiary of Alexander & Baldwin Inc., has established the office to support its strategy of expanding its portfolio of real estate acquisitions and developments outside of its historic land holdings in Hawaii. The company recently acquired a retail property in Dallas, and it has invested in a number of Los Angeles area properties in recent years as well.

A&B Properties CEO Stanley M. Kuriyama comments that as the company has increased its acquisition and development activity outside of its core land holdings on Maui and Kauai, it has become more important to establish a stronger presence on the US mainland. The new office will help the company to manage its existing holdings here and to look for additional opportunities, Kuriyama says.

Over the past four years, A&B Properties has partnered in the development of several retail and office properties in California with an aggregate completed value in excess of $100 million, notes Michael G. Wright, senior vice president of acquisitions and investments for the company. Stiles, who will report to Wright, brings nearly two decades of real estate investment, leasing and financing experience to the new office of A&B Properties.

Wright says that A&B's strategy is to form joint ventures with experienced development partners who know their respective market areas. The company looks for commercial, residential and mixed use projects.

Stiles will be responsible for acquiring and investing in income producing properties, entitled development land and joint venture development projects. He started his real estate career with American Properties Funding Co., where he spent seven years, and also gained experience in commercial real estate mortgage banking via positions with George Elkins Mortgage Banking Co. and Cohen Financial Real Estate Investment Banking.