4 - 4
In March 2010, a joint venture between Clearview Hotel Capital and a partner acquired the $32.5 million Junior B participation interest secured by the Marriott Waikiki Beach Resort, located in Honolulu, Hawaii. The 1,310-room Marriott Waikiki was originally built in 1971 as the Hawaiian Regent and rebranded as a Marriott in 2001. The resort hotel is the 3rd largest hotel in Hawaii and is Marriott's largest asset on the Hawaiian islands. The property features 22,600 sf of indoor banquet space, 32,400 sf of outdoor function space and over 46,000 sf of retail space. The property is located on Kalakaua Ave, Waikiki's main thoroughfare, directly across from Waikiki Beach.