West Oahu apartment complex sells for $165 million

James Campbell Co. acquired The Element, a 318-unit garden-style apartment complex at 91-3598 Nana Hope St. in Ewa Beach, Hawaii, from Blackstone for $165 million, or $518,868 per unit. The transaction transfers ownership of an apartment property from a national institutional investor to a Kapolei-based company — an uncommon shift in a market where national buyers have accounted for 82% of Outlying Oahu multifamily sales volume over the past 12 months. And it's the largest multifamily sale in the Honolulu area in years.