Updated at 3:33 p.m., Tuesday, June 26, 2007
Deal closes on sale of Makena Resort for $575 million
Advertiser Staff
Maui developer Everett Dowling, luxury hotel owner Trinity Investments and Morgan Stanley Real Estate have closed on their deal to buy the Makena Resort on Maui and the upscale Maui Prince Hotel.The group paid Japan-based Seibu Group $575 million for the 1,800-acre property, which includes the 310-room Maui Prince, two 18-hole Robert Trent Jones Jr. golf courses, and 1,300 acres of undeveloped land.
As part of the agreement, Prince Resorts Hawaii will continue to operate the resort for an interim period until a new management company is appointed.
