Simpson Thacher is representing Blackstone Real Estate in connection with its pending sale of the Turtle Bay Resort for $725 million to Host Hotels & Resorts, Inc., the largest lodging real estate investment trust.
The Resort is situated on 1,300 acres on O‘ahu’s North Shore with five miles of beach and coastline views. The transaction includes a 49-acre land parcel entitled for development.
The sale is subject to customary closing conditions and is expected to close in the third quarter of 2024.
In a separate transaction completed this year, Simpson Thacher represented Blackstone in connection with the sale of 65 acres of land at Turtle Bay on O‘ahu’s North Shore to Areté Collective, a vertically integrated development company known for sustainable development practices that prioritize climate resilience.
Simpson Thacher also represented Blackstone Real Estate in connection with its acquisition of the Resort in 2017.
The Simpson Thacher team includes Greg Ressa, Krista Miniutti, Robert Vogel, Cristiana Modesti, Justin Mathew and Isabelle McAlevey (Real Estate); Andrew Blau and Kristy Fields (ECEB); Nancy Mehlman and Elizabeth Trask (Tax); Bobbie Burrows and Chandler Gerard-Reimer (Intellectual Property); and Jeanne Annarumma and Alexander Kharash (ERISA).