Nationwide, Related owns and operates a real estate portfolio worth more than $12 billion, according to the company’s website, where it also boasts its financial strength, significant net worth, access to capital and ability to minimize risk. The company bid for a $100 million-plus ownership and management stake in One World Trade Center, on the site of Ground Zero in New York, and was one of two finalists before being passed over earlier this month in favor of the Durst Corp. Locally, it is the managing partner of the joint venture Related WestPac, an entity created to manage Related’s local assets.
ASPEN SNOWMASS REAL ESTATE – Although Related Companies appear to be on its way out of the Base Village picture as it goes through foreclosure on the property, the New York-based real estate giant is still very much involved — both legally and through various business ventures — in Snowmass Village.Related and its subsidiaries are defendants in multiple ongoing lawsuits — including one from a Snowmass hotel owner, one by a longtime local family, and several from would-be buyers of condo units at the Viceroy Hotel. The company also has a significant real estate stake in Snowmass, including two lodges and one commercial property that it bought out of foreclosure last summer.After the foreclosure action on Base Village came to light earlier this month, Related WestPac President Dwayne Romero issued this statement: “Related remains committed to Snowmass with ownership interests in the Snowmass Center, Snowmass Mall, Mountain Chalet, Snowmass Inn, Club Commons, the Offices at Snowmass, and operating companies Snowmass Hospitality and Snowmass Property Management.
By Catherine Lutz, July 22, 2010 Aspen Daily News