Sheraton Keauhou Bay Resort, Keauhou-Kona, HI

Sheraton Keauhou Bay Resort | Keauhou-Kona, HI

Located on the cliffs of Hawaii immediately south of the village of Kona, the property contains 521 rooms and 65,000 square feet of indoor and outdoor meeting space, a wedding chapel, a 14,000 square foot pool, a fitness center, spa, and 12,800 square feet of retail. Brickman was introduced to this property in 2001 by a financial institution that had a contract to purchase the note. The financial institution was unwinding its equity real estate business and offered the note to Brickman. Brickman negotiated a consensual foreclosure with the owner of the property and took title within six months. An extension of the lease was negotiated and Starwood was brought on as the hotel franchisor. Major renovations were completed in nine months time, and the hotel re-opened successfully in early 2005. The property has been sold.

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