Nov 18, 2013, 7:30am HST
Staff | Pacific Business News
Alexander & Baldwin’s property arm said Tuesday that it is acquiring 31 residential properties in Honolulu’s Kalaha neighborhood from Japanese billionaire Genshiro Kawamoto for $98 million. Seen here is one of the properties along Kahala Avenue.
The dozens of statues that once adorned Japanese billionaire Genshiro Kawamoto’s Kahala Avenue properties in East Honolulu, as well as the furniture and decor found in some of the mansions, are being sold at auction this weekend.
The Honolulu Star-Advertiser reports Alexander & Baldwin (NYSE: ALEX), which bought Kawamoto’s Hawaii properties for $98 million, has hired Oahu Auctions to conduct the sale, which will be held on Saturday at one of the former Kawamoto properties at 4631 Kahala Ave. The newspaper reports Oahu Auctions is selling the items as is, in lots with no reserves or upset pricing.
A&B, meanwhile, is in the process of selling off the 27 Kahala properties.
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