Simpson Thacher is representing Blackstone Real Estate in connection with its pending sale of the Turtle Bay Resort for $725 million to Host Hotels & Resorts, Inc., the largest lodging real estate investment trust.~~The Resort is situated on 1,300 acres on O‘ahu’s North Shore with five miles of beach and coastline views. The transaction includes a 49-acre land parcel entitled for development.~~The sale is subject to customary closing conditions and is expected to close in the third quarter of 2024.~~In a separate transaction completed this year, Simpson Thacher represented Blackstone in connection with the sale of 65 acres of land at Turtle Bay on O‘ahu’s North Shore to Areté Collective, a vertically integrated development company known for sustainable development practices that prioritize climate resilience.~~Simpson Thacher also represented Blackstone Real Estate in connection with its acquisition of the Resort in 2017.~~The Simpson Thacher team includes Greg Ressa, Krista Miniutti, Robert Vogel, Cristiana Modesti, Justin Mathew and Isabelle McAlevey (Real Estate); Andrew Blau (ECEB); Nancy Mehlman and Elizabeth Trask (Tax); Bobbie Burrows and Chandler Gerard-Reimer (Intellectual Property); and Jeanne Annarumma and Alexander Kharash (ERISA).