June 3, 2012

SandBoxBlogs: Aspen Daily News " Prince Bandar ranch sells for $49 million"

Curtis Wackerle:
"Hala Ranch, the luxury Starwood spread of Prince Bandar bin Sultan of Saudi Arabia, sold Thursday for $49 million, marking one of the largest real estate transactions in Pitkin County history.

The buyer is identified in public records only as Starwood Mountain Ranch LLC, which was incorporated in March by a local law firm. The corporation purchased “lot 1” on the property for $8 million, and “lot 2” for $41 million.

Prince Bandar was Saudi Arabia’s ambassador to the United States from 1983 to 2005. He listed his 95-acre ranch and the 56,000-square-foot home in 2006 for $135 million, but officially pulled it off the market 16 months later.....

.....Starwood Mountain Ranch also purchased two interests in the Aspen Residence Club for $500,000.

Joshua Saslove, the broker on the deal, could not be reached for comment...."
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