© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
An error occurred while fetching the data.
Error details: Error: INTERNAL_ERROR for ebc3dc69-1ba6-48e2-7449-4c7e8369b784: {"response":{"errors":[{"message":"INTERNAL_ERROR for ebc3dc69-1ba6-48e2-7449-4c7e8369b784","locations":[{"line":87,"column":7}],"path":["articlePackages"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/","canonicalUrl":"https://www.globest.com/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/","generatedId":"fmj45jkidj","naturalId":"blogAndPostId/blog/post/296-67506","type":"ARTICLE","postFormat":null,"kickerPresentedBy":null,"breadcrumb":[],"presentedBy":"","title":"MHG Lands $620M Hard Rock Hotel Expansion Loan","readtime":"3","timeToRead":"3 minute","prettyModified":"","prettyDateTime":"June 08, 2008 at 06:34 PM","needToKnow":[],"byline":"Brian K. Miller","showDisclaimer":true,"authors":[{"name":"Brian K. Miller","description":"","imageLarge":"https://secure.gravatar.com/avatar/f16d6fc2845f417ea0e93a3f2b6cd37d?s=136&d=mm&r=g","webUrl":"/author/profile/brian-k-miller/"}],"publication":"Globe Street","kicker":"","kickerNode":[],"prettyDate":"June 08, 2008","pubDate":"2008-06-08 18:34:00:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"","width":"","height":"","alt":""},"embed1":"","embed2":"","summary":"LAS VEGAS-Morgans Hotel Group and equity partner DLJ Merchant Banking Partners close on the construction loan. The project includes 875 additional rooms and 30,000-sf of additional retail.","categories":[{"name":"Capital Markets","uri":"/globest-topics/capital-markets/","channelName":"Globest Topics"},{"name":"Development","uri":"/globest-topics/development/","channelName":"Globest Topics"},{"name":"","uri":"","channelName":"GlobeSt Market"},{"name":"","uri":"","channelName":"Globest Sectors"},{"name":"","uri":"","channelName":"Globest Topics"},{"name":"Hotels","uri":"/sectors/hotels/","channelName":"Globest Sectors"},{"name":"Las Vegas","uri":"/markets/las-vegas/","channelName":"GlobeSt Market"},{"name":"National","uri":"/markets/national/","channelName":"GlobeSt Market"},{"name":"","uri":"/markets//","channelName":"GlobeSt Market"},{"name":"Retail","uri":"/sectors/retail/","channelName":"Globest Sectors"}],"bodyArray":["<p>The partnership also entered into a guaranteed maximum pricecontract with M.J. Dean Construction that covers the majority ofwork to be performed on the expansion project. The estimated totalcost of the expansion project is $760 million.</p>","<p>Finally, the partnership amended their joint venture agreementto reflect DLJMB's commitment to make up to $144 million ofadditional capital contributions for the expansion and up to anadditional $110 million to fund the satisfaction of minimum salesprice or amortization payment requirements under the loan facilityrelating to the approximately 15 acres of excess land held for saleby Hard Rock.</p>","<p>\"Construction is underway and we have taken the steps to helpensure that the project is completed on time and on budget,\" FredKleisner, president/CEO of MHG says in a prepared statement. \"Weare quickly moving forward to transform this legendary Las Vegasproperty.\"</p>"],"slides":[],"video":null},"articlePackages":null,"youmightlike":[{"uri":"/2024/07/26/vanguard-says-maybe-the-fed-will-cut-rates-once-this-year/","title":"Vanguard Says Maybe the Fed Will Cut Rates Once This Year","byline":"Erik Sherman","prettyDate":"July 26, 2024","readtime":"2","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2024/05/Federal-Reserve-Bank-Building-Article-202405290531.jpg","width":"620","height":"372"},"summary":"Continued economic growth, labor momentum, and stubborn inflation may not give the Fed the space to cut rates."},{"uri":"/2024/07/26/community-banks-say-cre-crisis-what-crisis/","title":"Community Banks Say, 'CRE Crisis? What Crisis?'","byline":"Erik Sherman","prettyDate":"July 26, 2024","readtime":"3","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/05/Bank-Building-Article-202305090757.jpg","width":"620","height":"372"},"summary":"Main Street institutions say their loans have been to buildings in use, not largely empty office towers."},{"uri":"/2024/07/25/criticized-bank-cre-loan-rates-show-rising-risks/","title":"Criticized Bank CRE Loan Rates Show Rising Risks","byline":"Erik Sherman","prettyDate":"July 25, 2024","readtime":"2","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2024/02/Bank-Collapse-Article-202402201638.jpg","width":"620","height":"372"},"summary":"Some criticized loan rates spike in major metros."},{"uri":"/2024/07/24/uncertainty-colors-crefcs-sentiment-index/","title":"Uncertainty Colors CREFC's Sentiment Index","byline":"Philippa Maister","prettyDate":"July 24, 2024","readtime":"4","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2024/01/QuestionMark_OnDollars-Article-202401220752.jpg","width":"620","height":"372"},"summary":"There was uncertainty about the liquidity of CRE debt capital markets in the year ahead"},{"uri":"/2024/07/23/will-fed-inaction-lead-to-more-of-the-same-for-cre-investors/","title":"Will Fed Inaction Lead to More of the Same for CRE Investors?","byline":"Brian A. Lee","prettyDate":"July 23, 2024","readtime":"3","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2024/07/christian-wiediger-ZiAwa7FV3OQ-unsplash.jpg","width":"1080","height":"650"},"summary":"With the cost of capital staying put, buyers and sellers must do more to uncover investment opportunities and open the door to deals."},{"uri":"/2024/07/23/h1-cmbs-issuance-almost-3x-over-2023/","title":"H1 CMBS Issuance Almost 3X Over 2023","byline":"Erik Sherman","prettyDate":"July 23, 2024","readtime":"2","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/02/Money-dollars-Article-202302060834.jpg","width":"560","height":"372"},"summary":"The total was $42.29 billion for the first six months of the year."}],"readnext":{"contents":[{"uri":"/2024/07/24/here-are-the-markets-where-new-multifamily-deliveries-should-decrease/","title":"Here Are the Markets Where New Multifamily Deliveries Should Decrease","prettyDate":"July 24, 2024","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2021/05/Houston-TX.gif","width":"616","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""}},{"uri":"/2024/07/23/multifamily-property-values-fall-as-insurance-premiums-climb/","title":"Multifamily Property Values Fall as Insurance Premiums Climb","prettyDate":"July 23, 2024","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Recession-Article-202304030803.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""}},{"uri":"/2024/07/24/the-factors-weighing-down-multifamily-rents-and-profit-margins/","title":"The Factors Weighing Down Multifamily Rents and Profit Margins","prettyDate":"July 24, 2024","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2022/10/pushing-boulder-uphill-facing-challenges-Article-202210210801.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""}},{"uri":"/2024/07/25/slight-uptick-in-unemployment-could-spell-recession/","title":"Slight Uptick in Unemployment Could Spell Recession","prettyDate":"July 25, 2024","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2020/05/Unemployment-Rate-resize.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""}},{"uri":"/2024/07/23/h1-cmbs-issuance-almost-3x-over-2023/","title":"H1 CMBS Issuance Almost 3X Over 2023","prettyDate":"July 23, 2024","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/02/Money-dollars-Article-202302060834.jpg","width":"560","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""}}]}},"extensions":{"DateTime":"2024-07-26T22:22:33.103216569","ResponseTime":"?","AuthorizedUser":false,"DebuggingData":"Kangaroo","NavServiceResponse":{"message":"Show a wall","action":"show wall","data":"WelcomeWall","placResultsPublic":{"overallContentType":"FreeWithRegContent","userState":"DENYREFERERNOTALLOWED","showWall":"WelcomeWall","userAccess":"0","referrer":"","userAccessCookie":null,"productList":"","contentMetaData":"<?xml version='1.0' encoding='UTF-8'?><ARTICLE><TYPE>ARTICLE</TYPE><ID>/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/</ID><SOURCE>Globe Street</SOURCE><PUBLICATION-DATE>2008-06-08 18:34:00</PUBLICATION-DATE><PUBLICATION-NAMES><PUBLICATION-NAME>Globe Street</PUBLICATION-NAME></PUBLICATION-NAMES><PRACTICE-AREAS /><CHANNELSECTIONS><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>Capital Markets</SECTION></CHANNELSECTION><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>Development</SECTION></CHANNELSECTION><CHANNELSECTION><CHANNEL>GlobeSt Market</CHANNEL></CHANNELSECTION><CHANNELSECTION><CHANNEL>Globest Sectors</CHANNEL></CHANNELSECTION><CHANNELSECTION><CHANNEL>Globest Topics</CHANNEL></CHANNELSECTION><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>Hotels</SECTION></CHANNELSECTION><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>Las Vegas</SECTION></CHANNELSECTION><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>National</SECTION></CHANNELSECTION><CHANNELSECTION><CHANNEL></CHANNEL><SECTION>Retail</SECTION></CHANNELSECTION></CHANNELSECTIONS><REFERRER></REFERRER></ARTICLE>","numberOfViewsLeft":0,"decisionEngine":"Grackle Cache","rulesFiredString":null,"contentProductCodes":null}}},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/\n####\n\n\nquery Globest__view_article_no_sitedir{articleData:\n getContent(naturalId: \"/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n articlePackages:\n getPackagesForArticle(docId: \"/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/\", limit: 3, publication:\"globest.com\") {\n title \n slug\n type \n summary\n cssFile\n navigations {\n name\n link\n }\n articles {\n title\n kicker\n uri\n image {\n uri\n }\n }\n\n \n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/2008/06/08/mhg-lands-620m-hard-rock-hotel-expansion-loan/\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n }"}}
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
White Paper
Sponsored by Placer Labs Inc.
Migration Hotspots in a Cool 2024 Market
Discover the latest insights on domestic migration trends in 2024 with this comprehensive white paper. Uncover the changing patterns and emerging hotspots shaping the CRE landscape today and what it means for you.
On-Demand Webinar
Sponsored by LeaseAccelerator
Real Estate Administration - 10 Ways To Save
Discover how to optimize your real estate portfolio through ten actionable strategies that can help you achieve significant cost savings.
White Paper
Sponsored by TheGuarantors
Cracking the Renters Insurance Conundrum
Multifamily owners and operators are seeing rising expenses squeezing margins, making it essential to identify new revenue streams and cut unnecessary costs. Learn how to crack the renters insurance conundrum with solutions tailored to your goals, allowing you to mitigate risk, streamline operations, and uncover new ancillary revenue opportunities.