Cosmopolitan luxury condos expect units to close for buyers the first half of 2010. Real estate brokers and hard contract holders of Cosmo units will receive letters outlining the current state of the condominium project on the Strip.
Cosmopolitan Las Vegas breathes new life with Deutsche Bank purchase. The financially troubled luxury Las Vegas Strip hotel has been bought out of foreclosure by an affiliate of Deutsche Bank for about $1 billion and they will continue to manage the design and construction of the Strip development.
Dubai World was given permission to purchase up to 20 percent of MGM Mirage stock. The New Jersey gaming regulators recently will permit the second largest MGM Mirage shareholder to purchase 10.5 percent more stock.
Golden Nugget Downtown Las Vegas hotel adds a $121 million third tower. Construction is progressing for the 25 story downtown tower with reinforcing pillars that will support the lower levels of the hotel casino. The multi use space will include a pool deck, gaming, walk up retail and 524 additional luxury rooms.