HONOLULU – The Magoon companies founded in 1924, announced today that Hawaii's Easton Thomas Manson, a strategic advisor to numerous Kamaaina companies, has become the first non-family shareholder. The local real estate executive has acquired an equity position in Magoon Estate, Limited and its parent company Magoon Brothers, Limited.

“We are pleased with Easton’s investment and involvement,” said Magoon Trustee Sara Magoon Dudgeon.

“The Estate will continue to reposition its real estate holdings in Hawaii and its 21,000-acre Guenoc Ranch,” said Manson. Magoon Estate, Limited also owns and operates Guenoc Winery, Inc., a producer of super premium California Wines. Manson continued, “The strategic plan of the company includes increasing its current commercial real estate portfolio from 750,000 square feet to 1,500,000 square feet. The increased size of the portfolio will be relatively straightforward to manage as all of the existing buildings and additions in 2004 will be triple net leased to investment grade credit tenants.”

Manson expressed his intention to work closely with Magoon family shareholders and the current management of the companies.

Manson is the Managing Partner of Persis Asset Advisors, LLC, with responsibilities for real estate advisory and consulting services. He joined Persis in 2002 after more than seven years of management consulting experience, beginning with Arthur Andersen in Boston in 1995 and then with PricewaterhouseCoopers in Honolulu.

Magoon Estate, Limited Names Easton Manson as First Non-Family Shareholder Manson earned his bachelor’s degree from BrownUniversity and an MBA degree from the Boston University School of Management. He is a graduate of Punahou School.

Magoon Estate, Limited and Magoon Brothers, Limited are privately held companies established in Honolulu in 1924. The companies currently own and manage more than 750,000 square feet of distribution, office, and retail facilities throughout the United States. In addition to commercial real estate holdings, Magoon Estate, Limited owns and operates Guenoc Winery, Inc. and the 21,000-acre Guenoc Ranch located in Lake and Napa counties, in California.

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