Is Bill Gates getting tired of the Seattle gloom? Who knows, but Cascade Investment, which he and Saudi businessman Alwaleed bin Talal own 95% of, just told the securities and exchange commission they are paying $200 million in cash for the Four Seasons Resort in Punta Mita, plus an adjacent 48-acre parcel of development land. The properties are "behind the gates," if you’ll pardon the pun, as access, except along the beach, is restricted. But it’s right next door to the Punta Mita Yacht & Surf Club.
Cascade Investment recently paid $62 million for the Four Seasons in Atlanta, and $140 million for the Four Seasons in Houston.
Cruisers know Punta Mita as a well-protected anchorage at the northwest tip of Banderas Bay, about a 40-minute drive or 12-mile spinnaker run from Puerto Vallarta. Mita has close access to many of the best surf breaks in the bay. In fact, it’s easy to paddle to the best breaks from your boat. Whales abound in the winter, and other sea life the rest of the year. Unlike most tourist areas of Mexico, somewhat-remote Mita is muy tranquillo.
The lesser known news is that there is a growing connection between Silicon Valley and Punta Mita. Silicon Beach anyone?
While many Americans remain spooked about Mexico, Michael Larson, Chief Investment Officer of Cascade Investment, released a statement saying, "We are a significant investor in Mexico and hold a long-term positive view on the country and its economy."