Posted at 10:42 a.m., Monday, December 4, 2006
Barnwell unit buys minority stake in Hualalai Resorts
Advertiser Staff
Barnwell Industries Inc. announced today that its wholly-owned Kaupulehu Investors, LLC has acquired a minority interest in the Hualalai Resort, at Kaupulehu in North Kona for $3 million. The deal includes the Four Seasons Resort Hualalai at Historic Kaupulehu, two golf courses and undeveloped residential property.Honolulu-based Barnwell also announced the receipt of $1.5 million for real estate consulting services rendered in a separate transaction. The payment will be recognized in Barnwell's fourth quarter ended September 30. Barnwell's shares closed up 1 cent at $22.74 today on the American Stock Exchange.
