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September 9, 2021
The Four Seasons hotel, with condominiums on top, opened back in 2008 at the corner of First Avenue and Union Street, where the Heliparker Garage once stood. About the same time, parent Four Seasons Hotels and Resorts was taken private in a $3.7 billion deal, with the new owners including Bill Gates and Saudi prince Alwaleed bin Talal. Now Gates-related Cascade Investment LLC has announced its over $2.2 billion purchase of half the prince's 47.5% stake. Four Seasons announced the pending deal, and said Cascade will soon have an over 71% stake in the company, which will have a total value of about $10 billion. Gates' involvement with the company dates back to 1997, when he bought shares in the then-public entity. Four Seasons CEO John Davison said in a statement, “The unwavering support and partnership of our shareholders has and continues to be critical as we capitalize on growing opportunities to serve luxury consumers worldwide.” The deal is expected to close in January.