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LAS VEGAS-Whitehall Street Real Estate Funds says its most recent investment vehicle, Whitehall Street Global Real Estate LP 2007, has made a “substantial” investment in the Consolidated Resorts, the vacation ownership resort business of locally based Asny Corp. The investment will be used to grow the business, according to both parties. Terms of the transaction were not disclosed.

Founded in 1982, Consolidated Resorts, Inc. is a privately held vacation ownership resort developer with resorts in Maui, Las Vegas, Orlando. The company also has projects in the pipeline in Palm Springs and Kauai. Asny Corp. chief investment officer Kenneth Chupinsky could not be reached Thursday for comment.

Arthur Spector, Asny Corp. founder and chairman, says in a prepared statement that Consolidated Resorts will maintain its principal offices in Las Vegas, that the entire management team will remain in place. In addition, Spector says he is a substantial stakeholder in Asny Holdings LLC, the new joint venture that will control Consolidated Resorts.

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