Kauai Sale is largest Real Estate transaction in State
In real estate news, mpvie moghul Peter Guber has sold his huge, 174-acre property on Kauai for $28M. Tara Plantation was sitting on the market for some four years. All in all, the sale was actually the biggest purchase in Hawaii this year. The Tara plantation is a prime piece of real estate located on the garden island of Kauai, on the north shore near the small town of Anahola. In recent years Guber has had some controversy: a feud concerning his alleged domination of beach access to Papaa Bay. In Hawaii you cannot privately own the beach, but some wealthy landowners sometimes try to restrict access to the beach trails which are the key to these beaches, as Guber is alleged to have done. For his part, Mr. Peter Guber is a Los Angeles movie executive. He is chairman and chief executive officer of Mandalay Entertainment Group. Guber also is a professor at UCLA’s School of Theater, Film and Television. He is co-host of the weekly “Shootout” television show on the AMC network. Peter Guber made a fortune from some of the biggest movies of all time. His movies include “Rain Man,” “Batman,” and “The Color Purple.” On the flipside, he was also involved in some true turkey’s such as ‘Caddyshack Part 2′ starring Jackie Mason.
Little is actually known about the buyers of the Kauai property. It is known that the buyers include two limited liability companies, Papaa Bay Ranch LLC and Kauai Beach Properties LLC. Hannah Sirois registered the firms in September. Sirois was the principal broker for Kauai Heritage Properties who represented the buyers in the Tara Plantation transaction. Another good Kauai Real Estate firm in my opinion is Sleeping Giant Realty. State records show a Pennsylvania firm listed Kauai Ae Kai LLC as their sole member. That company in Pennsylvania shows a certified public accountant’s office as its address. Guber was represented in the transaction by Coldwell Banker Bali Hai Realty’s Barbara Sloan and Malia Powers. Guber was also involved in a recent huge real estate transaction which took place in or near the ski resort of Aspen, Colorado.
