kapalua foreclosure: Lehman puts Ritz-Carlton Hotel, Kapalua up for sale: May, 2013 - 05/09/13 02:41 PM
Lehman Brothers Holdings puts the Ritz-Carlton, Kapalua Hotel up for sale
Just two years after Lehman Brother's Holdings foreclosed on the Ritz-Carlton, Kapalua, it was announced by Jones Lang LaSalle's Hotel and Hospitality Group that the Kapalua Resort's 54 acre oceanfront gem, and The Ritz-Carlton Hotel Company's only Hawaii hotel, is now being offered for sale.
The Ritz-Carlton, Kapalua Hotel was previously owned by W2005/Gengate Realty.  In July, 2011, Lehman, the original lienholder who had financed the hotel prior to their own bankruptcy, foreclosed on the property at $95,000,000.  The proceeds from the sale of the property will go toward paying Lehman's creditors as they prepare to exit Chapter 11 … (6 comments)

kapalua foreclosure: Kapalua Resort: Condominium Listings and Activity, May 2013 - 05/06/13 02:20 PM
Kapalua Resort: Condominium Listings and Sales Activity In the Kapalua Resort, there are several different condominium communities presenting a wide variety of options--you'll find everything from oceanfront to golf course views; one bedroom villas to four bedroom penthouses.  Each neighborhood has it's own unique characteristics and individual market conditions. A summary of the various neighborhoods follows (click on the links to view more information about the property and access active listing information): 

 
The Residences at Kapalua Bay
The Residences are set in one of Kapalua's most spectacular locations--overlooking Kapalua Bay.  Comprised of 164 2-4 bedroom condominiums and a mix of whole and fractional ownership, the property is soon to be under … (2 comments)

kapalua foreclosure: The Residences at Kapalua Bay: Foreclosure Update January, 2013 - 01/16/13 01:11 PM

The foreclosure confirmation hearing that was scheduled for January 17, 2013 has been rescheduled for January 31, 2013 in Honolulu.
The property formerly known as the Ritz-Carlton Club and Residences on Kapalua Bay is now known as The Residences at Kapalua Bay and is managed by Timbers Resorts, which is known for it's boutique, luxury resorts in popular destinations around the world.
The foreclosure is for the unsold interest, which includes 56 whole ownership units, 567 club interests in the Kapalua Bay Vacation Ownership Project consisting of undivided 1/12 interests in various condominium units, as well as commercial components and … (2 comments)

kapalua foreclosure: The Ritz-Carlton Club and Residences, Kapalua: December 2012 Update - 12/19/12 10:05 AM
The Ritz-Carlton, Club and Residences is Kapalua Resort's newest condominium property.  Launched in 2009, the property consists of 84 wholly owned condominium units and 62 fractional ownership units (1/12th ownership). 
As many of you know, the lienholders for the Ritz-Carlton Club and Residences, Kapalua Bay development filed for foreclosure earlier this year. At the initial foreclosure hearing in December, Island Acquisitions bid $55 million. The foreclosure is subject to court confirmation in January, 2013 and bidding can be reopened at 105%, or $57.5 million.On December 31, 2012, the current management contract with Ritz-Carlton management will expire.
It is my understanding that … (0 comments)

kapalua foreclosure: Foreclosure Update: Ritz-Carlton Club and Residences at Kapalua Bay - 11/29/12 05:46 AM

The Ritz-Carlton Club and Residences®, Kapalua Bay will be going to foreclosure auction on Monday,  December 3, 2012. On June 13, 2012 a notice of foreclosure was filed by the lien holders, and all sales of both fractional and whole ownership units were suspended. I plan on attending the auction in Honolulu and will post an update afterward to my blog.
According to the Commissioner’s website, the auction details are as follows:DATE: December 3, 2012 at 12:00 noon.LOCATION: Ewa end of the First Circuit Building (Ka’ahumanu Hale), 777 Punchbowl Street, Honolulu, HITERMS OF SALE: The auction will be held for a bulk sale, “As … (4 comments)

kapalua foreclosure: The Ritz-Carlton Residences, Kapalua Bay: Foreclosure Update - 10/31/12 04:21 PM

I’m often asked what the status is of the Ritz-Carlton Club and Residences®, Kapalua Bay. Opened on May 31, 2009, the Ritz-Carlton Club and Residences®, Kapalua Bay is Kapalua’s newest residential condominium community. Situated on 21 oceanfront acres, a stone’s throw from Kapalua Bay, the Ritz-Carlton Club and Residences® are comprised of just 84 private ownership Residences, and 62 fractional residences (1/12 ownership) that are managed by the Ritz-Carlton Club®.
It is my understanding that the Ritz-Carlton will maintain management of the property until 12/31/2012, though this date is subject to change. There is currently pending litigation between some of … (2 comments)

kapalua foreclosure: Lehman the sole bidder at Ritz-Carlton, Kapalua Hotel Foreclosure Auction - 05/05/11 11:38 AM
Lehman was the sole bidder at Ritz-Carlton, Kapalua Hotel foreclosure auction today, May 5, 2011.
The auction took place at the courthouse steps in Wailuku, Maui.  While I was unable to attend, a colleague who was there gave me the inside scoop:  There was only one bid today from Lehman Brother's, the leinholder, at $75,000,000.  It was announced that there were two other bidders, who did not reveal themselves or make a bid. 
The auction is subject to court confirmation, at which time additional bidding may continue.  It is my understanding that any new bids must exceed Lehman's bid by a minimum of 5%. Once the court confirmation is complete … (0 comments)

 
Courtney Brown, Realtor (S) Vice President, Live a Maui Life!  (Island Sotheby's International Realty) Rainmaker large

Courtney Brown, Realtor (S) Vice President

Live a Maui Life!

Lahaina, HI

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Island Sotheby's International Realty

Address: Napili Plaza, 5095 Napilihau Street, Suite 113A, Napili, HI, 96761

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Author Bio: Courtney Brown is a Realtor with Island Sotheby's International Realty in Maui, Hawaii. Courtney was born here in Maui and educated at Smith College. She specializes in Maui real estate, with a focus on second homes, oceanfront, and resort properties in Kapalua, Napili, Kaanapali, and West Maui. p> View all AR Posts By Courtney Brown Blog Google+ by Courtney Brown


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