Bill Gates’ Cascade Investment Acquires a Resort from Strategic Hotels and Resorts Inc (BEE)

Holding company, Cascade Investment, controlled by Bill Gates, disclosed in a newly amended SEC filing, that it will buy Four Seasons Punta Mita resort from Strategic Hotels and Resorts Inc (NYSE:BEE) for $200 million. At the same time, Mr. Gates revealed holding over 13.2 million shares of Strategic Hotels and Resorts, which represent 6.4% of the company's common stock.

Microsoft Corporation (NASDAQ:MSFT)

The resort amasses 173 guest rooms and suits, Strategic Hotels and Resorts Inc (NYSE:BEE) said in a press release. Additionally, Cascade will acquire 48-acre land parcel La Solana. The deal expected to be completed at the beginning of next year. The stock of Strategic Hotels and Resorts has advanced by over 40% since the beginning of the year. In the third quarter, the REIT posted a net income of $3.8 million, up from a loss of $8.6 million reported in the same period of last year. The revenue advanced by 16.2% on the year, to $237.6 million. According to our database, another shareholder of Strategic Hotels and Resorts is Daniel Lewis' Orange Capital, which at the end of September held 7.6 million shares of the company, worth $65.6 million. It is followed by J. Alan Reid, Jr.'s Forward Management with a stake that amasses 3.2 million shares, with a value of $28.1 million. John Paulson's Paulson & Co has revealed a $14.2 million stake, which amasses 1.6 million shares, in its latest 13F. Earlier today, Bill Gates' Bill & Melinda Gates Foundation Trust disclosed selling 3.3 million shares of Berkshire Hathaway Inc. (NYSE:BRK.B). Mr. Gates currently holds via the Trust and Cascade Investment an aggregate of 89.6 million shares of Berkshire's Class B stock. Cascade out of this amount owns some 6.1 million shares. Disclosure: none Recommended Reading: Carl Icahn Solidifies Positions in Icahn Enterprises LP (IEP) & Nuance Communications Inc. (NUAN) Hedge Fund News: Philippe Laffont, George Soros & Jim Rogers Steelhead Partners Reveals A Major Stake in Small-Cap Gold Reserve Inc. (GDRZF)
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 30 percentage points in 13 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!