other material
confidence high
sentiment neutral
materiality 0.50
Kaanapali Land subsidiary signs $29.9M agreement to sell 241 acres in Hawaii
KAANAPALI LAND LLC
- Base sales price $29.9M for ~241 acres in Pu'ukoli'i Village Mauka, near Kaanapali resort area.
- KLMC to receive 2.5% of gross sales price of each market-priced unit sold by buyer; additional consideration for bulk sales within 5 years.
- Buyer has 100-day due diligence period (extendable by 60 days) and can terminate in its sole discretion; closing 30 days after due diligence ends.
- No assurance transaction will close; subject to buyer's investigation and evaluation.