Question
(redacted)
July 23, 1990
DIRECT DIAL NUMBER:
(redacted)
Mr. Patrick Sharpe
Premerger Notification Office
Bureau of Competition
Federal Trade Commission
600 Pennsylvania Avenue, NW, Room 303
Washington, D.C. 20580
Re:Hart-Scott-Rodino Notification and Report
Dear Mr. Sharpe:
I am writing to confirm out telephone conversation of July 23, 1990. During this conversation, and previous telephone conversations, we talked about our client, whose ultimate parent entity is a Japanese national, who is intending to purchase 21 separate parcels of real property in Honolulu, Hawaii in one transaction from one seller. We originally discussed the raw land or unimproved land exemption to the filing of a Hart-Scott-Rodino Notification and Report which I had hoped our clients transaction would fall within. As it turned out, however, the portion o the property which fell within this exemption was insufficient to reduce the purchase price of the remainder of the property below the $15 million threshold. Thus, I began preparing a Hart-Scott-Rodino filing.
In our discussion of this date, you indicated that if the property involved in the acquisition by out client is currently being used for residential purposes, the transaction is exempt and no premerger filing will be required. You indicated that an acquisition of real property that is being used, prior to the acquisition, for residential purposes is exempt from the filing requirements of the Hart-Scott-Rodino Act under 16 C.F.R. 802.1 and, thus, no filing would be required of our client with respect to an acquisition of residential property.
Based on this most recent of our telephone conversations, and my understanding of that conversation as I have stated above, and on th exemption for acquisitions of residential real property, our client intends to go forward with the acquisition of the 21 parcels here in Honolulu without being required to file a Hart-Scott-Rodino Notification and Report. If my understanding is incorrect in any way, please contact me immediately.
Thank you for your time and assistance in this matter.
Very truly yours,
(redacted)
(redacted)
cc: (redacted)