Oahu’s Turtle Bay Resort has new owners

The Turtle Bay Resort on Oahu’s North Shore is officially under new ownership.

A consortium of international investment management firms took back the property from Oaktree Capital Management in a deed in lieu of foreclosure transaction that closed on Tuesday.

The 858-acre resort includes a 443-room hotel, two golf courses and a spa.

The consortium, which has managed the resort for nearly two years, already has spent $6 million to upgrade its infrastructure and hotel, including expanding Kuilima Drive from two to four lanes and upgrading the well, according to developer Stanford Carr, the resort’s interim property manager...

There are no immediate plans to build any additional hotels or condominiums at the resort.

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