Lehman puts Ritz-Carlton Hotel, Kapalua up for sale: May, 2013
By Courtney Brown, Realtor (S) Vice President, Live a Maui Life!
(Island Sotheby's International Realty)
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 bankruptcy protection. Under Gengate's ownership, in 2007 the hotel underwent an e...
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