April 5, 2017
A JV between funds managed by Honolulu, HI-based Trinity Investments, LLC and funds managed by Los Angeles-based Oaktree Capital Management, L.P. acquired the long-term leasehold interest in The Westin Maui Resort & Spa in Hawaii for a reported $317 million. The leasehold interest was held by an affiliate of Starwood Hotels & Resorts, which will still manage the property.
Located on Ka’anapali Beach, the 759-room luxury resort is situated on 12 acres and features a diverse mix of amenities including an 87,000-square-foot aquatic playground, lush gardens with waterfalls, five swimming pools, first-rate restaurants and access to two championship golf courses.
The resort’s 12-story Ocean Tower recently underwent a multi-million dollar renovation, and as part of the transaction agreement Trinity plans to upgrade the other 12-story Beach Tower.
For comments, questions or concerns, please contact Dennis Kaiser