Default lawsuit at Manoa mall

Advertiser Staff

GE Capital Hawaii Inc. has filed to foreclose against the owners of Manoa Marketplace over an estimated $10.7 million in loan debt.

The lender recently filed suit in Circuit Court, alleging that M/V Investment Partners defaulted on a series of five loans dating as far back as 1992.

M/V Investments, which includes Honolulu-based general partners Cherrywood-Manoa LLC and Manoa SC LLC, originally borrowed about $14 million, which was later assigned to GE Capital.

GE Capital wants the court to appoint a commissioner to take possession and sell the Manoa Valley property.

Manoa Marketplace tenants include Longs Drug Stores, Safeway and Island Manapua Factory.

Officials for GE Capital were unavailable for comment yesterday and M/V Investment officials could not be reached.