WAIKIKI, Hawaii. — Prudential Mortgage Co., the Newark, N.J.-based division of Prudential Insurance Company of America, has supplied a $116 million mortgage loan for five Waikikiowned by Outrigger Enterprises, which is the largest hotel owner and operator in Hawaii. Outrigger received the mortgage refinancing in three separate loans: a $72.3 million loan for the 883-room Outrigger Reef Hotel, a $23 million loan for the 439-room OHANA Waikiki Tower Hotel and a $21 million loan on three smaller hotels.
The Denver office of-based Sonnenblick-Goldman Co. arranged the transaction. The 10-year loans carry a 25-year amortization schedule.