Steve Byrne of Las Vegas-based Vestin Mortgage arranged the loan for the holding at 2800 Freemont St., a mile from the Las Vegas downtown. Built in 1954 on 25 acres, the hotel has 467 rooms, 1,300 slots, 18 table games, an 85,000-sf casino and 45,000 sf of convention space. Its other leading amenity is a 106-lane bowling alley touted as the largest in the US. Its nightly rates range in the high $40 bracket.
Vestin Mortgage is a subsidiary of the Vestin Group Inc. for two primary lending conduits. Vestin Fund I LLC is a $100-million mortgage fund and Vestin Fund II LLC, a $500-million mortgage fund.
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