January 23, 2018
Blackstone Group acquired the 450-room Turtle Bay Resort on Hawaii’s Oahu for roughly $330 million. The 1,300-acre property was held by a consortium of international investment management firms that included Dallas-based Highland Capital Management, Wesport Capital Partners and Credit Suisse, which took control of the property in 2010.
The site includes two golf courses, farmland, and undeveloped land that’s entitled for an additional 725 homes and hotel units. The asset is situated on Oahu’s north shore, 37 miles from the Honolulu International Airport.
Blackstone also recently acquired the Waldorf Astoria-branded hotel Grand Wailea resort on Maui for $1.1 billion. The deals mark the New York-based private equity firm’s first Hawaii hotel acquisitions since 2013.
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