Cases & Deals

Salem Capital Partners forms joint venture to purchase and finance property in Honolulu, Hawaii

Clients Salem Capital Partners

Jones Day represented Salem Capital Partners in connection with the formation of a joint venture with Argosy Real Estate Partners, and the acquisition and financing by the joint venture of a property in Honolulu, Hawaii, from Walgreens of Hawaii. A portion of the property was leased back to Walgreens, pursuant to a long term lease. The balance of the property will be re-entitled for future development. Jones Day also represented the client with respect to a private placement conducted to fund a portion of its capital commitments to the joint venture.