WPC Haumea LLC, a subsidiary of Hawaii based Watumull Properties Corp, has completed transactions to acquire Kapolei real estate and buildings from Island Pacific Academy (IPA) and lease the premises to IPA for the school’s long term, continued use.
Through these transactions, IPA was able to retire all debt encumbering the property, including acquisition and construction costs. “Completing this transaction with a local purchaser supportive of our educational mission is an important step in stabilizing IPA’s long term financial future. Our talented team of educators is committed to moving forward in elevating the teaching, character development, and service provided to our students and the broader community,” said Gerald Teramae, IPA’s Head of School.
Operations at IPA will remain the same. The transaction will not result in any changes to the school’s leadership, faculty or staff. “We are confident that this transaction will support IPA’s growth and achievement in providing an environment where students develop high personal standards and achieve academic success,” said Denise Becherer, President of IPA’s Board of Trustees. IPA retains rights to repurchase the school grounds from WPC Haumea LLC at a future date.
Faculty and staff at Island Pacific Academy are dedicated to the core values of ‘generosity of spirit’ and ‘the power of human kindness’. “We offer more than a quality education preparing our students for college. Our aim is to graduate young people who truly appreciate the worth of each person they may meet, know and work with as they go out into the world. The stable financial future of our school makes me feel confident knowing that my children will be graduates from Island Pacific Academy,” said Michelle Bradley, IPA Parent and MYP Curriculum Coordinator.
Island Pacific Academy is an independent, college preparatory school distinguished as an International Baccalaureate World Continuum institution serving grades K – 12 in Kapolei, the fastest growing region of Oahu. “IPA can ‘Go Forward with Confidence’ into its second decade knowing our financial future is on a solid foundation. We can look at our students of today and know that IPA will be here for their children as well,” said Teramae.
