DivestmentAug 4, 2026, 07:22 AM
Barnwell Sells Hawaii Development Interests for $1.6M
AI Summary
Barnwell Industries, Inc. announced that its subsidiary, Barnwell Hawaiian Properties, Inc. (BHP), along with Ka’upulehu Developments (KD), entered into a Purchase and Sale Agreement to sell their remaining Hawaii development interests for a gross purchase price of $1.77 million. The Company expects to receive approximately $1.5 million in net cash proceeds, plus an additional $0.1 million from a pre-closing distribution. This transaction is a strategic step to simplify Barnwell's portfolio, strengthen its balance sheet, and exit its Hawaii real-estate-related interests.
Key Highlights
- Barnwell subsidiary to sell Hawaii development interests for $1.77 million gross purchase price.
- Net cash proceeds to Barnwell Industries estimated at approximately $1.5 million.
- Expected pre-closing distribution of approximately $0.1 million to the Company.
- Transaction includes BHP's 34.45% limited partner interest in KKM Makai, LLLP.
- Also includes BHP's 75% general partner interest in KD Kona 2013 LLLP.
- Closing is expected on or before September 15, 2026.
- Aims for complete exit from all remaining Hawaii real-estate-related interests.
Price Impact
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