BlackSand Capital acquires Pearlridge Uptown II
Honolulu, Hawaii -- Colliers Monroe Friedlander, an affiliate of Colliers International, said that BlackSand Capital, LLC, a Hawaii-based real estate investment firm, acquired Pearlridge Uptown II from Inspiration International, LLC.
Pearlridge Uptown II is a 9.3-acre portion of Pearlridge Center on the island of Oahu. Pearlridge Center is the largest enclosed shopping center in Hawaii totaling 45 acres and 1.1 million sq. ft. of specialty shops, restaurants, big-box retailers, a movie theater complex and office space. Pearlridge Uptown II comprises the eastern wing of the Uptown portion of Pearlridge Center and is anchored by Borders on the second floor and Price Busters Hawaii on the ground floor. The property is currently 96% leased.
“The purchase of Pearlridge Uptown II is the first real estate acquisition for BlackSand Capital and we’re optimistic about the opportunity to reposition this prominent retail asset,” said Ian MacNaughton, managing partner.