Activist Says REIT Gave Bill Gates Sweetheart Resort Deal

Law360, New York (December 17, 2013, 11:07 AM EST) -- The activist fund that has recently targeted Strategic Hotels & Resorts Inc. on Tuesday accused the real estate investment trust of passing off a trophy property in a sweetheart sale to another substantial shareholder in an attempt to curry favor ahead of a proxy contest.

Earlier in the week, the luxury hotel REIT unveiled plans to sell the Four Seasons Resort Punta Mita plus an adjacent 48-acre property in Mexico to Bill Gates' Cascade Investment LLC, the holder of a 6.4 percent Strategic stake. But New...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.