PROJECT TEAM: Lonomakua Partners LLC — made up of Pasadena, Calif.-based developer James Ratkovich & Associates, Lehman Brothers Holdings and MSD Capital L.P.

LOCATION: Hawaii beachfront

SIZE: 29-acre site

COMPLETION: 2010

BUZZ: The newly purchased site is the last piece of oceanfront property that is part of Hawaii's 1,350-acre Waikoloa Beach Oceanside resort. Lonomakua Partners plans to build a 300-room hotel and a 500-room condominium development on the resort-zoned parcel, which is adjacent to the Waikoloa Beach Marriott on Hawaii's Kohala Coast.