Business

Barnwell Receives Over $2M From Kaupulehu Sale

January 6, 2017, 10:30 AM HST
* Updated January 6, 9:40 AM
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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.

“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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