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Financially troubled Maui condos sold for $100M

By Washington Examiner
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WAILUKU, Hawaii (AP) — A Delaware company has agreed to buy the financially troubled Residences at Kapalua Bay for $100 million — almost twice the amount it bid for the luxury condos on Maui two months ago.

Island Acquisitions Kapalua LLC offered the high bid of $55 million at an auction in December. But on Thursday at a scheduled confirmation hearing, the sale was reopened because at least one new bidder offered $57.75 million.

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