The Robin Masters Estate (Pahonu)

[Fat Jack]

I presume that document recordings aren't public in Hawaii, or else the mortgage would be available to read. If it is A & D or major renovations of a property in Florida, then the plans (general description or detailed building prints, or anywhere in between) are IN THE MORTGAGE documents.

They don't leave this stuff to chance.

Are they sealed, not available on line, or not at all?

Anybody?

The mortgage is available to the public as is the deed, but there's nothing in the mortgage regarding plans. PM me with your personal email and I can give it to you. Can't post because it's a pdf.

On a humorous note, I was doing some research to try to find a special connection between Obama and MPI or the classic H50 (did he regularly watch either/both shows, etc) or any evidence of a connection to Pahonu. All I could find is that Obama's senior prom date was Taphie the Buzzette! http://www.insideedition.com/headlines/ ... -prom-date

[Kevster]

Some good news, though none of this is guaranteed, about the mortgage from the recent sale. The mortgage is very conventional in structure for a single family home. That means it isn't focused on the land, an imminent redevelopment of the land, or a MAJOR reconfiguration of the home, etc. I would say that the mortgage being $1M more than the purchase price might indicate that the buyer got it on the cheap. The value of the property might have been 1.25x the sale price, and they got the mortgage for more than the purchase. Maybe they got an appraisal for $12M plus? Nevertheless, the buyer is not an individual...

The representative of the corporation who signed the deed is an Executive Assistant for The Vistria Group. A Private Equity group out of Chicago. I'll let you make your own conclusions on that... That doesn't make me warm and fuzzy for the future of the property, but we'll see.

Not anything else to speak of, except that the key to all this now shifts over to the historical restrictions of the area. If they bought it and the redevelopment is too limited to benefit them, then they bought it to use it with the existing improvements. They mortgaged it that way, but it may just be a temporary measure while they work up plans for redevelopment.

So, it is STILL a waiting game. I'd say everyone that wants to see it, you've got 6-12 months before anything likely starts. It may become a fabulous, renovated update of what was there, or it could become something else entirely.

[Fat Jack]

The representative of the corporation who signed the deed is an Executive Assistant for The Vistria Group. A Private Equity group out of Chicago. I'll let you make your own conclusions on that... That doesn't make me warm and fuzzy for the future of the property, but we'll see.

The Executive Assistant, Judy Grimanis, is the Obama connection. Vistria is the "private capital firm run by Obama’s longtime friend and frequent Hawaii golf and travel partner Marty Nesbitt."

[Steve]

The representative of the corporation who signed the deed is an Executive Assistant for The Vistria Group. A Private Equity group out of Chicago. I'll let you make your own conclusions on that... That doesn't make me warm and fuzzy for the future of the property, but we'll see.

The Executive Assistant, Judy Grimanis, is the Obama connection. Vistria is the "private capital firm run by Obama’s longtime friend and frequent Hawaii golf and travel partner Marty Nesbitt."

And Marty Nesbitt is on the Obama Presidential Library Foundation..........Interesting how they cut down the shrubbery that was covering the gate/guest house. You can really get a better idea of what it looks like and how big it is...........

[Kimbosan]

Well, its gone...but who to??

check this out guys.

http://khon2.com/2015/03/17/sale-of-mag ... ent-obama/

Kimbosan

[Fat Jack]

The representative of the corporation who signed the deed is an Executive Assistant for The Vistria Group. A Private Equity group out of Chicago. I'll let you make your own conclusions on that... That doesn't make me warm and fuzzy for the future of the property, but we'll see.

The Executive Assistant, Judy Grimanis, is the Obama connection. Vistria is the "private capital firm run by Obama’s longtime friend and frequent Hawaii golf and travel partner Marty Nesbitt."

And Marty Nesbitt is on the Obama Presidential Library Foundation..........Interesting how they cut down the shrubbery that was covering the gate/guest house. You can really get a better idea of what it looks like and how big it is...........

I think we can safely cross the library off the list of possibilities though (whew)...Hawaii submitted their RFP for an 8 acre location in Kaka'ako.

[midnightx]

I would hate to think of Obama owning Pahonu, but certainly others will be thrilled. Still, being that the property is not particularly large, and considering the buildings are fairly close to streets, the ocean, and other adjoining properties; it does not seem particularly secure for an ex-President.

[KENJI]

This is getting even more interesting....based on this article/news story http://www.kitv.com/news/rumors-swirl-a ... e/31880764 Pahonu has now been sold to another LLC in Colorado! Maybe Fat Jack can double check this interesting lead.
The footage also shows the clearing they did on the gate house side.

[ConchRepublican]

I would hate to think of Obama owning Pahonu, but certainly others will be thrilled. Still, being that the property is not particularly large, and considering the buildings are fairly close to streets, the ocean, and other adjoining properties; it does not seem particularly secure for an ex-President.

Same here.

[Fat Jack]

This is getting even more interesting....based on this article/news story http://www.kitv.com/news/rumors-swirl-a ... e/31880764 Pahonu has now been sold to another LLC in Colorado! Maybe Fat Jack can double check this interesting lead.

I saw the live broadcast last night and they didn't make any mention of it being resold as in the written story you posted. I just checked and there's no record of Waimanalo Paradise LLC selling/transferring it. The only other record is the mortgage with a Hawaiian company, Hoaloha Holdings, recorded on the same day as the deed. I'm not sure where they got the info about a Colorado company...maybe they just made a mistake in the story.

The footage also shows the clearing they did on the gate house side.

Yes, I also like the close-up they got of one of the garage bays.

[Kevster]

Here in Florida, a transaction can take a week or two to be posted....

[KENJI]

This is getting even more interesting....based on this article/news story http://www.kitv.com/news/rumors-swirl-a ... e/31880764 Pahonu has now been sold to another LLC in Colorado! Maybe Fat Jack can double check this interesting lead.

I saw the live broadcast last night and they didn't make any mention of it being resold as in the written story you posted. I just checked and there's no record of Waimanalo Paradise LLC selling/transferring it. The only other record is the mortgage with a Hawaiian company, Hoaloha Holdings, recorded on the same day as the deed. I'm not sure where they got the info about a Colorado company...maybe they just made a mistake in the story.

The footage also shows the clearing they did on the gate house side.

Yes, I also like the close-up they got of one of the garage bays.

I'm sure there is plenty of debris to be removed since the family lived there since the 1930's.....and maybe part of the reason for the confidentiality agreement.We know in a round about way that it was pretty bad in there with LOTS of stuff and animals (we can read between the lines).

We also know that Eve was basically pre-approving potential buyers herself which might be the reason for the possible quick flip to a Colorado LLC (assuming this is the case and not just gossip). It might be a loophole around the conditions/confidentiality clauses set out in the original contract between Eve and Seth, not Seth and the Colorado LLC. It might a loophole for a buyer who Eve didn't originally approve, ending up with the place....(more guessing here and really stretching too). Seth might even be part of the Colorado LLC.....hard to know for sure without seeing how the original contract was written up. With his background and connections, he knows every trick in the book.
A guess at best and possibly WAY off base. If Waimanalo Paradise LLC (Seth) sold it that quick there is something a bit fishy going on and it's not Mahi-mahi. Assuming this is true, what did the Colorado LLC pay for it? What is throwing me off the possible Colorado LLC purchase is the additional $1million mortgage above the selling price taken out by Seth & Co......maybe this was part of a higher appraisal as Kevster stated earlier or even part of the play.....take out more so it appears you are going to fix the place up and Eve feels your intentions are good.......who knows.........stretching again.......time will tell!

I'm sure the view into Pahonu has improved from the gate house side and exposed a few more angles of the place that we have never really seen.
I'm sure one of us will post some new pics soon.

[Fat Jack]

Here in Florida, a transaction can take a week or two to be posted....

Agreed, but the article says "according to state records....the property was then sold to another limited liability corporation in Colorado." We're all looking at the same public records and there's nothing there about a Colorado LLC that I can see? https://boc.ehawaii.gov/

[Kevster]

They may have delayed the second transfer so as to avoid it being reported, but maybe they failed? They may have intended that... After all, there is public interest in the place. They may have wanted it being publicized where Ms. Anderson's wishes were being obviously circumvented...

[Fat Jack]

I just emailed the reporter re: the Colorado LLC statement. I'll let you know if I hear back.