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James G. Pycha
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Kauai’s Coco Palms Resort redevelopment moves a step ahead

kauai-movie-tours-coco-palms-resort

The iconic Coco Palms Resort on Kauai has moved another step forward to being restored to its former glory, as the current owner of the property has transferred the property to the lender, Prudential Insurance, according to public records.

The transfer was for about 20 acres for $11.2 million from Maryland-based Coco Palms Ventures, which acquired the property in 2005.

Coco Palms Hui LLC, which is headed up by a Honolulu-based firm, is buying the property from Prudential, and plans to redevelop the property into a resort under the Hyatt Hotels Corp. (NYSE: H).

Posted on September 13, 2014 at 9:57 am by James G. Pycha

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