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Gates' Cascade Buys Into Extended Stay

FORT LAUDERDALE, FL--The co-founder of Microsoft Corp. now owns 5.34% of the publicly traded common shares in the locally based developer-operator of extended stay lodging facilities.

By David R. Corder | Updated on August 31, 2001

FORT LAUDERDALE, FL–Cascade Investment, the investment arm of Microsoft Corp. co-founder William H. Gates III, has taken an interest in another South Florida company controlled by H. Wayne Huizenga.

The Redmond, WA-based investment company now owns 5.34% of the publicly traded stock in Fort Lauderdale-based Extended Stay America Inc., according to a stock ownership statement filed Aug. 30 with the Securities and Exchange Commission.

Over the past year or so, Cascade Investment also has acquired shares in Boca Raton-based Boca Resorts Inc. and Fort Lauderdale-based Republic Services Inc. Huizenga is chairman and a majority shareholder in all three of the South Florida-based companies.

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