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Deutsche Bank Forecloses on Cosmopolitan in Vegas

Aug 11, 2008 - Source: Reuters

Despite efforts by developers to find new partners, Deutsch Bank will foreclose on the Cosmopolitan Resort & Casino on the Vegas Strip. In January, Ian Bruce Eichner's group, 3700 Associates LLC, defaulted on a $760 million construction loan for the project.

Deutsche Bank will seek partners to operate the partially built 3,000-room resort, estimated to cost $3.5 billion. Global Hyatt, Starwood, and Hilton reportedly have been approached about possible involvement.

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Interior Design Magazine
 
hdtalks: the interviews

Jeffrey Beers talks with HD editor in chief Michael Adams about his early years as a designer, the influence of his mentor I.M. Pei, his love for hospitality, the many changes in the industry he’s witnessed over the past three decades, and the challenge and satisfactions of working with such legendary figures as Daniel Boulud, Sol Kerzner, and Wing Chao. Click here to play

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