Real Estate Private Equity
Kula 1800
Description
BRP invested in Kula 1800 Investment, LLC (K1800) to acquire and develop two parcels consisting of 1,841 acres in Upcountry Maui. K1800 plans to deliver lots in two 24-month phases. Phase I will consist of 53 lots (725 acres), and Phase II will contain 33 lots (1,116 acres) with lots varying in size from five to over 40 acres with home sites located in specific locations to maximize views.
Thesis
BRP has had a successful long-time relationship with the principals of K1800. K1800 secured the land at an attractive price and has demonstrated proficiency in entitling and master-planning developments in both Hawaii and other locations.
Equity Investment
$8.3 million