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| | Jim Sanders Maui Real Estate Blog
Maui Real Estate Information and Resources | Record Makena Maui Resort Sale
Maui's Makena Resort sells for $575m
July 13, 2007 | June 27, 2007 saw a major landmark in Maui resort real estate sales, with the sale of the Makena Resort to Morgan Stanley Real Estate and Dowling Company Incorporated, closing for a record $575m: making Maui's Makena Resort the largest single asset hotel transaction of 2007, and the second largest hotel transaction to date. Encompassing 1,800 acres of prime South Maui property, the 310 room Maui Prince Hotel and two luxury Maui golf courses sit atop approximately 500 acres, with 1,300 acres of undeveloped land making up the balance. The Dowling Company Inc's President, Everett Dowling, has said he is committed to developing Makena into the most environmentally sensitive community in the State of Hawaii.
During the forthcoming transition period, Prince Resorts Hawaii will continue operation of the Makena Resort until new management is established. In addition, all of the resort's union employees are expected to be retained as the new owners are expected to assume the current Longshore and Warehouse Union contract.
South Maui Real Estate
Makena Wailea Real Estate
Jim Sanders Real Estate, Inc. |
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Jim
Sanders Realty, Inc.
P.O. Box 792050
137 Hana Highway Unit C
Paia, Maui, HI 96779 |
Office:
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