Maui Lokelani Resort Corp. and Maui Prince Hotel announced that the sale of Makena Resort to Morgan Stanley Real Estate and Dowling Company closed this week, for $575 million. As part of the agreement, Prince Resorts Hawaii will continue to operate the resort for an interim period until a new management company is appointed. Dowling Company, Inc., a Maui-based real estate development firm, is Hawaii's leading developer of environmentally sustainable projects. On Maui's southwest coastline, the 1,800-acre master-planned Makena Resort includes the 310-room beachfront Maui Prince Hotel, two 18-hole Robert Trent Jones, Jr.-designed golf courses, and approximately 1,300 acres of undeveloped land.