KIHEI, HI—The Capbridge Group and its localsubsidiary, Capbridge Pacific LLC, have announcedthe purchase of a 28-acre beachfront property located inKihei, Maui, formerly known as the Maui LuResort.

The company is collaborating with Hilton GrandVacations to redevelop the property into a timeshareresort that will break ground in late 2015 and open in 2017. The$300 million redevelopment project is TheCapbridge Group's first venture in Hawaii and will be the firstHilton Grand Vacations property on the island of Maui. The companyhas chosen Hilton Grand Vacations to manage the timeshare sales andthe hotel operations due to its vast experience in developing,selling and operating successful timeshare resorts in Hawaii.

Situated on the eastern edge of Maalaea Bayadjacent to the Humpback Whale Sanctuary VisitorCenter and Kalepolepo Beach Park, a stateconservation area, the new resort will be developed as avilla-style, Hawaiian resort featuring 388 one-, two-, andthree-bedroom residences. The resort also will feature asuper pool, fitness center, and kids and teen centers. Convenientlylocated, the resort is only 15 minutes from the Kahului Airport andnear a variety of restaurant, shopping, and nightlife destinationsin Kihei and Wailea. The new resort will boast 740feet of oceanfront property from its private beach cluband great lawn on Maui's longest beach.