Aloha Tower complex to be sold for $25m?

[Miulang]

If the bankruptcy judges approve this sale, somebody is going to get a steal on this prime piece of real estate which is still in bankruptcy proceedings after 3 years.

I thought the Gov. said your economy was booming? How come prime tourists attractions like the Aloha Towers complex are going into bankruptcy then?

Miulang

http://the.honoluluadvertiser.com/article/2005/Jan/21/bz/bz02p.html

[Albert]

I notice you said "Aloha Towers" which many bus drivers also say when the automatic announcement thing isn't working. I wonder why? There's only one tower! :)

$25m seems a very low price for the property.

[pzarquon]

Ah, yes, the local pluralization habit. Sandys for Sandy Beach. Towers for Tower Records. Waiks for Waikiki. Oceans for Ocean Club. Folks do that for everything.

As for Aloha Tower, that's an extremely low price, but I think it's a combination of the debts already piled up and the question mark of picking up a property that's obviously been mismanaged. From a long-term business standpoint, I think the complex would be a good investment, particularly in light of the very aggressive plans out there now for the whole waterfront.

Anyone got $25M? I'll pay you back!

[Linkmeister]

Without having read anything about it, it may be $25M plus assumption of all debts, which could bring the implicit price up quite a bit.

[Serenity]

Ah, yes, the local pluralization habit. Sandys for Sandy Beach. Towers for Tower Records. Waiks for Waikiki. Oceans for Ocean Club. Folks do that for everything.

As for Aloha Tower, that's an extremely low price, but I think it's a combination of the debts already piled up and the question mark of picking up a property that's obviously been mismanaged. From a long-term business standpoint, I think the complex would be a good investment, particularly in light of the very aggressive plans out there now for the whole waterfront.

Anyone got $25M? I'll pay you back!

Sure...

I think I have some of that in my pocket somewhere. ;) :D


Without having read anythin about it, it may be $25M plues assumption of
all debts, which could bring the implicit price up quite a bit

I'm sure that's true. With all those debts accumilated, & unable to keep up with the payments, that's probably one of the reasons for selling it at such a low price.