Pearlridge Center in Aiea Changes Hands

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Hawaii’s second-largest shopping mall has been sold.

hawaiimoneyblog:

Image: Yelp

A minority owner of the Pearlridge Center in Aiea — Hawaii’s second-largest shopping mall — has bought the property.

Columbus, Ohio-based Glimcher Realty Trust, which owned a 20 percent stake in the mall, will buyout majority owner Blackstone Group for $149.4 million, Hawaii News Now reports.

The trust also will assume Blackstone’s portion of the $175 million mortgage the two parties took on to buy the mall in 2010 for $245 million.

Read more from Hawaii News Now.

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