Outrigger Hotels' new owner buys another Hawaii resort

-

The Denver company that recently purchased Hawaii-based Outrigger Hotels and Resorts' portfolio of 37 properties has acquired another Hawaii hotel — the 311-room Courtyard Kaua'i at Coconut Beach on the eastside of the Garden Isle.
The sale of the hotel, which was traded for $61.6 million, or $198,070 per room, closed last month. The 169,787-square-foot hotel occupies nearly 11 acres of land along Waipouli Beach, and has a total assessed value of $37.7 million.
The seller — Kauai Coconut Beach LLC — purchased the hotel for $38 million in 2010.
KSL Capital, which focuses on investing in travel and leisure businesses, has raised more than $7.5 billion in private equity and credit funds since 2005. Its investment portfolio includes such businesses as hotels and resorts, clubs, fitness, family entertainment, skiing and resort real estate.

Comments

Post a Comment

Popular posts from this blog

Exclusive: 'Survivor' host Jeff Probst buys posh Hualalai Resort estate in Hawaii

-
Image
Jeff Probst, the Emmy Award-winning host of the reality television series “Survivor,” has purchased an estate within the Hualalai Resort on the Big Island of Hawaii’s west coast for $4.85 million, Shimogawa Scoops has learned. Probst and his wife, Lisa Russell, closed on their big purchase on November 1, which includes 19,864 square feet of land and a four-bedroom, 5.5-bathroom home with an office within Kulanakauhale, the newest residential community in the Hualalai master-planned resort community. The 3,770-square-foot home was built by Aina Ola and furnished by award-winning designer, Gina Willman. It has gourmet kitchens with granite counter tops, custom African mahogany cabinetry, travertine flooring and Madeira concrete shake roofs. Hualalai Realty represented both sides of the transaction. Member amenities for this property include the Keolu Clubhouse and Hualalai Canoe Club, according to Hualalai Realty. The luxury resort community includes the Four Seasons-bra...
Read more

Campbell Soup Co. heir buys property in ultra-exclusive Hawaii resort community

-
Image
Billionaire Bennett Dorrance, the heir to the Campbell Soup Co. fortune has purchased a nearly 38,000-square-foot estate in the ultra-exclusive Big Island of Hawaii’s Kukio master-planned community for a whopping $27.5 million, Shimogawa Scoops has learned. The property includes a 7,343-square-foot, five-bedroom, six-bedroom mansion in what is known by some as “Billionaire’s Getaway” in Hawaii that’s located on island’s Kona coast. The purchase comes out to Dorrance paying $725.65 per square foot for the land. Dorrance, who is familiar with Hawaii as the founding partner of Arizona-based DMB Associates, which developed Kauai’s ultra-exclusive Kukuiula master-planned community on the island’s South Shore, owns a 15 percent stake in Campbell Soup. His grandfather invented the company’s well-known condensed soup formula. The younger Dorrance has an estimated net worth of about $2.6 billion, according to Forbes. Others owning a piece of real estate at Kukio include billionaire M...
Read more

Japanese billionaire's daughter with ties to President Trump, Empire State Building buys Hawaii property

-
Image
The daughter of the late Japanese billionaire Hideki Yokoi, who has ties to President Donald Trump and one of New York City’s most famous landmarks - the Empire State Building - has recently purchased a residential unit at the ultra-luxury Park Lane Ala Moana condominium in Honolulu, public records show. KNR Park Lane LLC, which is managed by Kiiko Nakahara-Renoir, paid $8.8 million for the 3,353-square-foot, 3-bedroom, 3.5-bathroom unit, which has sweeping views of the ocean and is built atop Hawaii’s largest shopping mall, Ala Moana Center. Built a few years ago, it is known as one of the most luxurious condo projects ever built in Hawaii. The Park Lane unit has a total assessed value of about $6.5 million and was developed by Honolulu’s Kobayashi Group, The MacNaughton Group and General Growth Properties, the former owner of the Honolulu mall. Interestingly, Park Lane Ala Moana was named after New York’s famed Park Avenue. According to a 1999 article in The Wall Street Journa...
Read more