More details have emerged on Facebook co-founder and CEO Mark Zuckerberg’s purchases of real estate on Kaua’i’s North Shore in Hawaii, as sources confirmed to Forbes that Zuckerberg shelled out more than $100 million for two adjacent parcels of land, encompassing more than 700 acres.
According to Forbes, the two properties are:
- Pila’a Beach, a 393-acre parcel, for which an entity known as Pila’a 400 LLC paid $49.8 million for an 89.2 percent stake, representing some 350 acres.
- Kahuaina Plantation, which Pacific Business News reported last month was sold by California-based investment firm Falko Partners to Hawaii-based Kahuaina Holdings for around $66 million.
Sources told Forbes Melange International CEO Gary Stewart holds the remaining 10.8 percent of Pila’a Beach, and he would not sell it to Zuckerberg, who reportedly will only build one home on the properties he is acquiring.
A Facebook spokesperson would only tell Forbes:
We don’t comment on rumors and speculation, but thank you for reaching out.
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