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Alexander & Baldwin, a long-established commercial real estate fund in Hawaii, announced earlier this week that it will be taken private in a USD 2.3 billion all-cash transaction led by MW Group along with Blackstone Real Estate and DivcoWest. The offer gives shareholders USD 21.20 per share, reflecting a 40% premium over its previous close, and the company’s stock rose sharply in after-hours trading following the announcement. The deal, expected to close in the first quarter of 2026, will keep A&B’s existing name and Honolulu base. The investor consortium also intends to invest over USD 100 million in property upgrades.
Alexander & Baldwin confirmed earlier this week that a consortium led by MW Group will take the Hawaii-based commercial real estate fund private in an all-cash transaction valued at about USD 2.3 billion. The agreement includes a payment of USD 21.20 per share to existing shareholders, offering a 40% premium compared with the company’s stock price at the last market close. Following the announcement, A&B’s shares rose 37% in extended trading, reflecting strong investor reaction to the valuation and structure of the deal. Advertisement
The company stated that it will continue operating under the same name and will retain its brand identity and Honolulu headquarters even after the transition to private ownership. Alexander & Baldwin remains one of Hawaii’s major commercial property owners, holding a portfolio that includes 21 grocery-anchored retail centers, 14 industrial properties and four office sites across the state. The firm has historically focused on stable, income-producing assets, and its retail centers have long served as key community-based commercial hubs across several islands.
The buying consortium includes Hawaii-based MW Group, Blackstone Real Estate and California-headquartered DivcoWest, forming a mix of regional understanding and large-scale institutional capital. According to the company, the consortium intends to invest more than USD 100 million in improvements across A&B’s properties, with the aim of strengthening asset quality and performance. The transaction is expected to close in the first quarter of 2026, subject to regulatory clearances and shareholder approvals.
Source Reuters
5th Jun, 2025
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