One of Arizona’s top commercial real estate firms is marking a significant milestone this fall. Tucson-based Holualoa Companies, which has a prominent portfolio of properties throughout the Phoenix and Tucson markets as part of its national and international real estate holdings, is celebrating its 35th anniversary. The company has successfully navigated numerous industry cycles and changes in the commercial real estate market over that time to achieve its current status.
Holualoa Companies was founded by I. Michael Kasser in Kailua-Kona, Hawaii 35 years ago. Kasser currently serves and Chairman of the firm. The company expanded to the Southwest in 1992, moving the headquarters to Tucson, Arizona. Since then, it has established offices in Phoenix, Los Angeles, and Paris, France.
Holualoa invests globally in multifamily, office, industrial, retail, hotel and mixed-use properties and has acquired more than $3 billion of assets. The company focuses on acquiring and repositioning underperforming real estate assets for successful sale upon stabilization. Holualoa also acquires select core assets in superior locations and participates in development opportunities that exhibit a compelling opportunity.
“Holualoa Companies had fairly humble beginnings, and it has been gratifying to see how the firm has grown over the years,” Kasser said. “Our culture has focused on discipline, patience and attention to detail, and we’re proud to have produced superior results for Holualoa’s investors for over 35 years – through bull and bear markets and through favorable and unfavorable business cycles.”
The company continued to grow by opening offices in Phoenix, Arizona and Santa Monica, California. Further expansion led Holualoa to partnerships in Washington, DC and Paris, France. In Arizona, it has been at the forefront of such high-profile projects in the Phoenix area as SkySong, The ASU Scottsdale Innovation Center, Park Central, the AC Hotel by Marriott Phoenix Biltmore at Camelback Collective and the Civana Wellness Resort & Spa.
In Tucson, the company boasts a significant multifamily, office and industrial portfolio including the Pioneer Office Building, Herbert Residential and One East Congress in downtown, the Sonoran Reserve Apartments and the Mountain View Ranch development in Vail.
The company recently named Richard Kauffman as Chief Executive Officer, a role in which Kauffman oversees the company’s strategic growth, and promoted Lani Baker to Chief Financial Officer. Aroon Chinai is the company’s Chief Investment Officer and Stan Shafer serves as Chief Operating Officer. Additionally, Steve Betts, one of the best-known names in commercial real estate in Arizona, joined the company as Managing Director of Development.
“We are proud of the way we’ve been able to grow, evolve and expand our portfolio over the years and become involved with projects that are truly transformative,” Kauffman said. “We’re excited about the opportunities we see for the future. Currently, one of our key initiatives is our partnership with Greenlight Communities to develop attainable housing communities. These well-maintained, well-located and design-forward projects provide studio, one-bedroom and two-bedroom units for renters with a range of incomes under the Cabana brand.”
