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.

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

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