Alexander & Baldwin to Buy Kaneohe Ranch Portfolio

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Alexander & Baldwin Inc. announced Wednesday that it plans to purchase extensive properties in Windward Oahu for $373 million.

The real estate company is paying $260 million to Kaneohe Ranch and $113 million to the Harold K.L. Castle Foundation for the portfolio, which includes significant commercial real estate in Kailua in Windward Oahu. 

A&B president Christopher Benjamin said the deal, which is expected to close in late December, will increase the percent of the company’s commercial portfolio net operating income from Hawaii assets to 80 percent, up from 42 percent earlier this year. 

Click here to read the company’s full statement.

Kailua Panorama

A panoramic view of Kailua. (Courtesy of Jon Parise via Flickr.)

— Anita Hofschneider

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