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Barnwell Receives Over $2M From Kaupulehu Sale

January 6, 2017, 10:30 AM HST (Updated January 6, 2017, 9:40 AM) · 4 Comments
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Image source: www.brninc.com

Barnwell Industries Inc. announced that it received distributions of $2,313,000 pursuant to the recent sale of the second of two large lots at Kaupulehu in North Kona, by its 19.6% indirectly-owned Kukio Resort land development partnerships.

Barnwell has a non-controlling interest in these Kukio land development partnerships.

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“This distribution will further improve our cash position and liquidity and we anticipate recognition of additional equity in income in our quarter ended Dec. 31, 2016, as a result of this recent sale transaction,” said CEO and President Alexander C. Kinzler,

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