In 2006, AREA and Trinity Investments acquired the mortgages secured by the leasehold interest in the Hyatt Regency Waikiki Resort & Spa at a discount to par value. The four star resort is set on Waikiki Beach and consists of 1,230 rooms. In addition to the loans, the partnership acquired one of four plots of land beneath the resort. In mid-2007 a bankruptcy judge approved a negotiated settlement agreement between the Partnership, the Debtor and the Unsecured Creditors Committee. The court-approved sale of the hotel closed in July 2008, and the Partnership's loans were repaid in full.