The highest bid at a recent public auction for foreclosed properties, including 61 residential and commercial units and more than 500 club interests at the Ritz-Carlton Club and Residences at Kapalua Bay on Maui, was $55 million, a real estate source tells me.
The bidder’s identity wasn’t disclosed.
The next step in the process is what is called a “confirmation sale” of the properties, which is scheduled for Jan. 17. First Circuit Court Judge Bert Ayabe will preside over the sale.
via Honolulu Business News – Local Honolulu News | Pacific Business News of Honolulu http://feeds.bizjournals.com/~r/bizj_pacific/~3/sG4iS1g6fSA/highest-bid-for-ritz-carlton-club.html