Lokahi

Kailua-Kona, HI Project Type: Lease-up, Affordable LIHTC 306 homes

 

Project Description:

  • Property re-launch during recessionary economic period and stabilized operating engagement.
  • First new garden style apartment community in the Kailua-Kona market within the prior 15 years consisting of 306 apartment homes.  

 

Objective:

  • Following a stalled launch attempt implemented by the initial management company, Indigo was retained to complete the launch engagement and stabilize the community in order to convert from construction to permanent financing. 

 

Result:

  • At the time of transition Lokahi was 52% occupied with 149 apartments net to rent. Indigo deployed one of their skilled launch teams and produced 149 net rentals averaging 29 rentals per month.
  • Within the five month re-launch period, the community was 100% occupied. 

 

Website:

http://www.lokahiapartments.com

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