Anekona LLC accused in suit of owing $21.5M


POSTED: Tuesday, March 24, 2009

Another foreclosure suit has been filed against Brian Anderson's Anekona LLC, this time for defaulting on a $17.2 million loan for Coconut Grove Marketplace on the Big Island.

The plaintiff, an affiliate of LNR Partners Inc. of Florida, filed the suit in U.S. District Court, claiming Anderson defaulted on the loan in November of last year.

As of April of this year, the suit says Anderson owes a total of $21.5 million, including $16.9 million in unpaid principal, in addition to a prepayment penalty of $3.9 million, about $287,600 in accrued interest and other fees.

The suit also alleges that Anekona received rent payments from its tenants at Coconut Grove Marketplace, but has not forwarded some or all of them to the lender.

A commission is expected to sell the property to pay off the debt, including attorneys' fees.

This latest suit comes after a string of several other foreclosure suits filed against Anderson for his properties topping a total of $90 million, including the troubled Ilikai in Waikiki, former W Honolulu-Diamond Head Hotel (now called The Lotus at Diamond Head), and other resort properties on Kauai.