MGM Mirage properties have seen their fair share of main event fights. Now the gaming giant’s massive flagship, CityCenter, will be at the center of an owner vs. builder battle with nearly a half-billion dollars at stake.
Moves last week, culminating with Perini Building Co. leapfrogging to a lawsuit, indicate its already bare-knuckle.
At the beginning of [...]
Drawn by the possibility of entering the nation’s second-largest gambling market at a discount price, Hard Rock International announced plans Tuesday to build a $300 million casino-hotel on the Atlantic City Boardwalk.
The Florida-based company would partner with New York-based Och-Ziff Real Estate at the southern end of the city, at the foot of the Black [...]
Village Homes has completed the acquisition of 113 residential lots from Compass Bank, including 60 in the Meadows, one of the Denver area’s most popular master-planned communities. In addition to the Meadows, the acquisition includes lots in communities that were included in Lowe’s original Village Homes acquisition, such as the Idyllwilde, Observatory Village and Granby [...]
Read moreDubai announced a $9.5bn restructuring proposal for troubled conglomerate Dubai World on Thursday, including a commitment to pump $8bn into Nakheel, its troubled development arm.The government, which said the plan would take several months to implement through talks with creditors, will fund the new business plan with the $5.7bn left over from the $10bn bail-out [...]
Read more(worked with this project in the very early inception stage with the McManus family – nice folks. Interesting to see what finally came to market. bc)
Scrub Island Resort in the British Virgin Islands opened on schedule today, becoming the first new resort to be built from the ground up in the BVI in more than [...]
East West Resort Development V LP LLLP, a U.S. luxury residential community developer, filed for bankruptcy protection early on Tuesday, saying it was unable to secure additional capital from its current lenders to fund development and other expenses.In court filings, the company said it was formed to develop residential and commercial real estate projects on [...]
Read moreThe Forkosh Development Group wants millions of dollars worth of help in suburban Miami.
The developer seeks an equity partner – with $30 million to $40 million – to help jumpstart the stalled 52-story Solis Resort Spa & Residences project in Sunny Isles Beach, reports trade pub Commercial Mortgage Alert.
Forkosh has already poured some $53 million [...]
(Personally, I think this would have happened regardless of the economy. $18 hamburgers and poor service… It’s tough to recruit help 30 miles off the strip, when there are so many opportunities for labor closer to town – bc)
The Ritz-Carlton Lake Las Vegas, a five-diamond hotel at the troubled resort community in Henderson, told its [...]
Intrawest Holdings, owner of Whistler-Blackcomb resort, which is hosting ski events for the Vancouver Winter Olympics this month, said on Tuesday it has agreed to sell its Sandestin Golf and Beach Resort in Florida as it looks for ways to get out from under a heavy debt load.
Intrawest did not disclose the purchase price but [...]
Developer Joel Cantor proclaims it his “jihad mission” to sell out his Signature Place condominium tower, the 36-story skyscraper that strikes a sail-shaped profile on the St. Petersburg waterfront.
But the latest plan to light a fire under condo sales in the high-rise is giving even Cantor the jitters. His lender, Fifth Third Bank, is putting [...]
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