HONOLULU-Senior Housing Properties Trust is buying First Insurance Center, an office building situated on Ward Avenue in Honolulu, from Pacific Office Properties Trust Inc. The deal is scheduled to be closed by the end of Q2.
Pacific Office Properties is selling the fee as well as leasehold interests in the building to Senior Housing Properties for $70.5 million. The deal includes the assumption of an existing debt that amounts to $52 million. First Insurance Co. is the largest tenant in the building. For the full story, go to Pacific Business News .
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