Hong Kong company pays $103.4m for 514 acres in Hawaii
China Oceanwide Holdings has acquired 514 acres of undeveloped land for residential development in Kapolei, Hawaii, from James Campbell Co. for $103.4 million.
Kapolei West is located between the City of Kapolei and the Ko Olina Resort. The project, Oahu’s “Second City,” was approved in 2008.
To date, James Campbell has invested more than $230 million in infrastructure improvements in the Kapolei area. China Oceanwide will be spending more than $23 million on infrastructure improvements that will include extending Kapolei Parkway.
Other Hawaiian assets acquired by China Oceanwide include the $280 million beachfront site at Ko Olina, part of a Atlantis Resorts hotel development, and the $200 million beachfront sites at the Ko Olina Resort, which will be converted into two luxury hotels and one luxury condo development.