Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, June 23, 1999

Harbor Court space went for $31 million

The buyers of the retail and commercial space in the Harbor Court complex paid $31 million for the leasehold property, said the New York-based financial adviser that arranged most of the financing.

Sonnenblick-Goldman Co. said it raised $21 million for the buyers, Phoenix-based Pacific Realty Advisors Inc. and Rockwood Capital Corp., who bought 18 floors of commercial space, the mezzanine space leased to the Palomino Euro Bistro restaurant, a plaza-level retail arcade and more than 300 parking stalls. The space is all in a 31-story tower on leased land across from the Aloha Tower Marketplace. The adjacent 41-story luxury condominium building that makes up the rest of Harbor Court was not part of the transaction.

Real estate panel looks at isle market

Hawaii real estate experts next month will give their opinions on the industry's big question: Is the local market rebounding?

The panel discussion will be presented by the Hawaii Developers' Council on Tuesday, July 13 at the Ala Moana Hotel, from 7:30 a.m. to noon. Speakers will be Joseph Haas of CB Richard Ellis Inc., on the office market; Mark Ambard of Ambard & Co., on the industrial market; Jon-Eric Greene of Colliers Monroe & Friedlander Inc., on the retail market; Scott Gomes of CB Richard Ellis, on the investment market; and Mike Sklarz of Prudential Locations Inc., on the residential market. The session will cost $20 for Hawaii Developers' Council members or $25 for guests if bookings are made before July 1; $30 after July 1. To register call Leolani Abdul at 538-4565.

In other news . . .

NEW YORK -- Goldman Sachs Group Inc. surprised analysts with a 30 percent gain in fiscal second-quarter earnings, as equity trading and underwriting, and mergers advisory jumped at the securities firm. Income from operations in the three months ended May 31 rose to $624 million, or $1.30 a share, from $476 million, or $1, a year earlier.

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