Word: lehndorff
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Dates: during 1970-1979
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...serve these rich clients, investment firms abroad are now specializing in American property. Some are one-or two-man operations, and several are as large as West Germany's Lehndorff Management Ltd., which has invested some $300 million in U.S. properties for 1,800 investors. Reports TIME Bonn Correspondent Barrett Seaman: "An American kind of optimism is everywhere. In Frankfurt, a consortium of banks offered $60 million worth of over-the-counter investment shares in a Houston office building for about $10,000 each, and in three weeks sold out the offering to customers, many of them walking...
...over the U.S., mostly in search of real estate deals-the traditional haven for nervous money from abroad. Canadians. Iranians, Arabs (sometimes masquerading as Iranians), Germans and Japanese are leading bidders. Kenji Osawa. a Japanese investor, has bought six of the eight hotels managed by Sheraton in Hawaii; Lehndorff Management, the U.S. arm of a Hamburg investment management firm, estimates that foreigners will buy more than $2 billion worth of U.S. real estate this year, with West German investors among the leading purchasers...
...Says Lehndorff's U.S. general manager, M. Thomas Lardner: "The enthusiasm of the Europeans for U.S. farm land is unbelievable." In Houston, Banker Richard Reneberg complains that "a problem we're faced with is coming up with enough good property to satisfy foreign investors...
...Countess, Vera von Lehndorff, is one of the world's towering beauties -she is the international model built for basketball and known as Veruschka. In Rome she went to the première of the film Veruschka, Poetry of a Woman with its writer/director, Franco Rubartelli. The movie, originally a token of their long great-and-good friendship, now seems to have become more of a souvenir. After the show was over, he left with another model and she with another friend...