ASPEN, Colo. (AP) — A Saudi prince and former ambassador to the United States has sold his luxury Aspen ranch for $49 million.
The Aspen Daily News (http://bit.ly/L8tNPT ) reports Prince Bandar bin Sultan of Saudi Arabia sold the Hala Ranch on Thursday to Starwood Mountain Ranch LLC. He bought the land in 1989 and built the main residence in 1991.
The prince, who was ambassador to the United States from 1983 to 2005, listed his 95-acre ranch and the 56,000-square-foot home in 2006 for $135 million, but he pulled it off the market 16 months later.
He later sold two of his other Starwood homes for a combined $49 million in 2007.
Starwood is a gated residential neighborhood on the slopes of Red Mountain.
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Information from: Aspen Daily News, http://www.aspendailynews.com
