LAS VEGAS-Deutsche Bank has spent nearly $4 billion on a casinoon the Las Vegas Strip. The bank will unveil the Cosmopolitan, a3,000-room glass-facade casino in a few weeks.
Initially, the bank was funding a loan of $1 billion toconstruct the two-tower project. When the developer Ian BruceEichner failed to pay up the loan in 2008, the bank could not findnew partners and so it decided to complete the development with itsown money. For the full story, go to Wall Street Journal.
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
