Alexander & Baldwin Inc., and development partner DMB Development, LLC of Arizona, sold the property to the Denver-based Brue Baukol Capital Partners yesterday. BBCP is now the master developer of the community. A&B and DMB, who formed a partnership in 2002 to plan and develop the 1,000-acre resort community, started construction on the project in 2006. Currently, more than 280 lots have been sold and about 125 homes have been completed.
A&B’s strategic decision to sell was due to wanting to focus more on its business model of commercial real estate. A comprehensive marketing process began in early 2021 and led to the selection of BBCP as the buyer and new developer. A&B continues to have an interest on Kaua‘i, which includes the ownership of The Shops at Kukui‘ula retail.
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