December 3, 2019
The estate of Paul Allen has sold 23 acres of land on the Big Island of Hawaii. Max Benjamin Partners’ Max B. Mellman secured $16 million in financing from a high net worth investor for the land acquisition on behalf of the buyer, JPL Hawaii, LLC.
“This was unique deal in that we were able to secure 114% financing on raw land, providing an interest reserve and additional funds for our client to execute his business plan,” said Mellman. “We were also able to take this from start to close in less than 30-days. With this financing, our client was able to acquire a prime, white sand development site in a beautiful location.”
The land is located on the highly desirable Kona-Kahalo “Gold Coast” on the Big Island of Hawaii. The buyer’s plan is to clean up the existing alkaline ponds and maximize value by consolidating and re-subdividing the land into three parcels, to be sold individually.
Pictured: Max B. Mellman.
For comments, questions or concerns, please contact Dennis Kaiser