Major Acquisition: Blackstone and Partners to Purchase Hawaiian Property Owner for $1.5 Billion

December 9, 2025 - 05:56

In a significant move within the real estate market, a joint venture involving Blackstone Inc.’s real estate division, MW Group, and DivcoWest has finalized an agreement to acquire Alexander & Baldwin Inc., a prominent Hawaiian commercial property owner. The transaction, valued at $1.5 billion, will be conducted entirely in cash, marking a notable investment in Hawaii's real estate landscape.

This acquisition reflects the growing interest in Hawaii's commercial properties, which have shown resilience and potential for long-term growth. Alexander & Baldwin, known for its extensive portfolio, including retail and industrial spaces, is expected to benefit from the expertise and resources of its new partners.

The deal is poised to reshape the commercial property sector in Hawaii, as it combines the strengths of three major players in the real estate industry. Stakeholders are optimistic about the future developments that may arise from this collaboration, which aims to enhance the value and management of the acquired properties.