CBRE Hotels Sells Hokele Suites Waikiki

Honolulu, Hawaii – February 4, 2014 – CBRE Hotels is pleased to announce the sale of the 108-room Hokele Suites Waikiki situated in the center of Waikiki. Iwasaki Waikiki, Inc. sold the property to Komomai Hospitality, Inc., which will implement a comprehensive multimillion-dollar renovation. Komomai is a partnership of local hotel real estate stalwarts as well as Eagle Point Hotel Partners based out of New York City. The buyer has hired local operator Aqua Hotels and Resorts to oversee the renovations and manage the asset, and has hired renowned designer Robert McKinley for concepting and interior design. TRUSTA, who served as the Japanese owner’s representative, noted that Hokele Suites Waikiki was one of the last few Japanese owned Waikiki hotels that was bought during the “Bubble Era”.

The CBRE Hotels’ Hawaii team consisted of Executive Vice President Scott Gomes who represented the seller in this transaction.

CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.