1/10/2020 | By Nareit Staff
The Nareit Foundation’s REIT Way Hawaii Community Giving Initiative announced the awarding of a $120,000 grant to the nonprofit Kauai Habitat for Humanity. Stephen Spears, executive director of Kauai Habitat for Humanity, said the grant will be used to build a self-help house in ‘Ele‘ele for a low-income family in support of its mission that “brings people together to build homes, communities and hope.”
“We are grateful for the generous grant of $120,000 from the Nareit Foundation’s REIT Way Hawaii Community Giving Initiative that will enable a local family to be able to build for themselves a lasting and truly affordable home here on Kauai,” Spears said. “This home will provide many decades of stability where they can not only live, but thrive and contribute to the community.”
Representing the Nareit Foundation in recognizing the grant awarded to Kauai Habitat for Humanity were Chris Benjamin, president and CEO of Alexander & Baldwin, Francis Cofran, senior general manager of Brookfield Property REIT’s Ala Moana Center, and Pamela Wilson, general manager of Hawaiian Real Estate for American Assets Trust. Each company is a real estate investment trust (REIT) with notable property holdings in Hawaii.
Alexander & Baldwin owns real estate throughout the Hawaiian Islands and has operated on Kauai for more than a century. "A&B has been a longtime supporter of the Kauai Habitat for Humanity, providing land, cash, and sweat equity dating back nearly 30 years, and we are thrilled to join our fellow REITs in supporting the continued good work they are doing for families and communities on Kauai," Benjamin said.
Brookfield Property REIT’s holdings include Ala Moana Center, Prince Kuhio Plaza, and Whalers Village. American Assets Trust owns Waikele Center, The Shops at Kalakaua, Waikiki Beach Walk, and Embassy Suites Waikiki Beach Walk.
REITs in Hawaii provided the $120,000 donation through the REIT Way Hawaii Community Giving Initiative of the Nareit Foundation, a section 501(c)(3) organization. REITs are long-term property holders that own, renovate and manage affordable housing projects, commercial buildings, medical facilities, shopping centers, cell phone towers, and hotels throughout Hawaii.