# Las Vegas Condo-Hotel foreclosures



## Steamboat Bill (Mar 30, 2008)

Las Vegas’ Cosmopolitan Resort Casino is the latest big-time project (and we mean big, the resort is slated to have nearly 3,000 hotel rooms, most available for ownership as condo-hotel units) to face a money crunch. This month Deutsche Bank, provider of a $760 million loan to the project, started foreclosure proceedings after the development defaulted on the loan. The Wall Street Journal has reported extensively on the foreclosure, noting that two powerhouses of resort real estate development, tycoon Stephen Ross, founder of the Related Companies, and Starwoods’ W Hotel group, are vying to collectively take over the $3.9 billion project.

http://realestate.halogenguides.com...faces-foreclosure-possible-rescue-by-starwood


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## pwrshift (Mar 30, 2008)

Interesting report: Here is some more info on it ... promo stuff:

http://www.condohotelcenter.com/condo-hotels/featured-properties/cosmo.htm

I think it was supposed to be just down the road from the new Marriott Timeshare on Harmon.

http://www.vacationclub.com/resorts/vg/default.jsp

Brian


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## GaryDouglas (Apr 5, 2008)

Yes, it's only a few football fields way from MGC. Here's another thread on this subject. Doug usually keeps us up-to-date on all the latest there.
Deal for Cosomopolitan in Vegas falls through...


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