Trinity Investments and Oaktree Acquire Long-Term Leasehold Interest in The Westin Maui Resort & Spa

HONOLULU--()--A joint venture among funds managed by Trinity Investments, LLC (“Trinity”) and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) today announced the acquisition of the long-term leasehold interest in The Westin Maui Resort & Spa from an affiliate of Starwood Hotels & Resorts.

Located on Ka'anapali Beach, the 759-room luxury resort is situated across 12 acres and features a diverse mix of amenities including an 87,000 square foot aquatic playground, lush gardens with waterfalls, five swimming pools, first-rate restaurants and access to two championship golf courses. The resort’s Ocean Tower recently enjoyed a multi-million dollar renovation, and as part of the transaction agreement Trinity has committed to upgrading the Beach Tower.

“We are pleased to add another of Maui’s marquee luxury resorts to our investment portfolio,” said Sean Hehir, President and CEO of Trinity Investments. “As committed property owners, we plan to make additional capital improvements to enhance the property’s value, making it even more attractive to travelers seeking a truly unique vacation destination.”

Oaktree Managing Director Ben Bianchi added, “Oaktree is excited to have the opportunity to purchase a high-quality beachfront Maui resort with a first class partner and exceptional management. This acquisition fits squarely in our investment strategy and is a welcome addition to our hotel investment portfolio.”

All rooms at The Westin Maui Resort & Spa come with private balconies, which afford spectacular views of mountains, gardens and the Pacific Ocean. Rooms are also outfitted with Westin’s signature Heavenly Bed & Shower, bathrobes, compact refrigerators and flat-screen TVs. The resort also features 67,400 square feet of meeting space that is ideal for corporate functions.

Over the last six months, Trinity has consummated more than $600 million worth of Hawaiian lodging transactions and is currently pursuing additional investment opportunities in the market.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $101 billion in assets under management as of December 31, 2016. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

About Trinity Investments, LLC

Trinity Investments, LLC is a private real estate investment firm with a 20-year history of generating value-added returns. With considerable expertise covering the full spectrum of property investment, development and value-enhancing asset management, Trinity generates unique and opportunistic real estate investments in world-class markets. The firm’s pursuits span an array of geographic locations and asset types but share the commonality of being predicated upon best-in-class local relationships and teams of professionals for sourcing, execution and exiting. Headquartered in Honolulu, Hawaii, Trinity maintains offices in New York, Tokyo and Mexico City.

Contacts

Media:
ICR, Inc. for Trinity Investments
Jason Chudoba, 646-277-1249
Jason.Chudoba@icrinc.com
or
Angela Bonnici, 646-277-1276
Angela.Bonnici@icrinc.com

Contacts

Media:
ICR, Inc. for Trinity Investments
Jason Chudoba, 646-277-1249
Jason.Chudoba@icrinc.com
or
Angela Bonnici, 646-277-1276
Angela.Bonnici@icrinc.com