Acquired in 2019 In partnership with Honolulu based Stanford Carr Development. Pohulani Elderly is one of six state-owned low-income rental properties purchased from Hawaii Housing Finance and Development Corp. Built in 1991 the 263-unit 26 story mixed use high-rise building is in downtown Honolulu on the Island of Oahu. All 263- units follow affordability requirements of 80% of the AMI. As part of a portfolio wide 85-million-dollar capital improvement plan, the property is currently undergoing extensive rehabilitation of living spaces. Improvements include replacement of cabinets and countertops in the kitchens and bathrooms with new faucets and plumbing connections, new flooring and paint, and new appliances including a refrigerator, range, and exhaust hood. Capital improvements to the exterior buildings and common areas will include replacement of laundry equipment, new exterior paint for the building, new windows, upgrade lobby and elevator modifications.