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Pinnacle Las Vegas condo developer the Falcon Group increased the bridge loan and refinanced for the Pinnacle Condominium Resort. The new $50 million first mortgage loan takes out a previous $40 million loan by Berkshire Capital of New York.

Pinnacle Las Vegas high rise is a $850 million, 1,100 unit near-Strip project is planned for 12 acres, across from the Orleans hotel casino, at the intersection of Tropicana Avenue and Cameron.

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McCarran International Airport Las Vegas had more than 3.9 million passengers during April. The total Las Vegas airport passengers increased 3.2 percent over last year for a total of 15.2 million for the year.

Passenger traffic had a small growth of less than 1 percent in April. The international traffic had seen the most increase in and out of Las Vegas Nevada real estate.

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MGM Mirage Las Vegas completed the transaction last week on the 33.5 acres of the real estate acquisition on the north Strip. The 25.5 acres of land was purchased for $444 million at Sahara and Las Vegas Boulevard next to the Allure condos. The remaining eight acres worth $131 million on the Strip, closed earlier in May 2007.

Both real estate deals were said to have involved a 1031 tax deferred exchange capital from the MGM’s sale of the Primm, Nevada real estate and its holdings in Jean, NV. The reported largest land transaction on the Las Vegas Blvd. cost a total of $576 million.

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City Crossing Las Vegas mixed use real estate project in the valley is a $2 billion development located south of the Strip, near the planned M Resort and Henderson Executive Airport. The Plise Cos. Is developing the 126 acre include 1.5 million sf of class A office 600,000 square feet of retail, and 2,500 Las Vegas homes built around 17 acres of trails, public spaces and parks.

The 30-acre first phase, $500-million, scheduled to open in fall 2009, will include 160-room boutique hotel, 180 residential units, all of the office and 100,000 square foot of retail. Mortgage lenders from eight different companies are providing the construction financing. The entire Henderson real estate development expected completion by 2014.

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