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Case Study

Sale of Maui Resort

JLL was retained in April 2013 by RCK Maui, LLC to advise on the sale of The Ritz-Carlton, Kapalua. The Property, set on 54 fee simple acres in one of the highest barrier-to-entry leisure destinations in the world, was built in 1992 and extensively renovated from 2006 to 2008. Located on beautiful, landscaped oceanfront grounds, the Property features over 35,000 square feet of indoor meeting space and 173,000 square feet of pristine outdoor meeting space, six food and beverage outlets and the 17,500-square-foot Ritz-Carlton Spa. 

During the 2006-2008 renovation, the Property was condominiumized and re-opened with 297 hotel keys and 107 residential condominiums (which lock off to 166 hotel keys for a total of 463 keys). Prior to the seller taking control of the property, 34 of the 107 condominium units had been previously sold to third-party owners. As such, the Property offered included the Resort, the remaining 73 unsold condominium units, and rights to ongoing income from units participating in the rental program.

Investors gravitated towards the rare Maui resort offering, fee-simple tenure, and opportunity to sell unsold residences. JLL endorsed Woodridge Capital Partners and Colony Capital as the buyer and navigated comprehensive due diligence efforts to closed at the agreed-upon price.​​