W Las Vegas Condos Hotel And Resort Raising Money By Edge Group
To raise money for its “W Las Vegas Hotel and Resort” and “Edge East” real estate developments Edge Group is selling 63 acres on the South Strip, across from Mandalay Bay. Weststate Holdings, both company and investors, bought the land less than two months ago for $201.7 million, or $3.2 million per acre. The Las Vegas land borders the west side of I-15, between Russell Road and Hacienda Avenue. Edge Group has decided to cash out.
Weststate Holdings is listing the property for sale with the starting price at $441 million, or $7 million per acre, which more than doubles its cost in just 60 days ago. The money will go toward paying off The Edge Group’s recent purchase of the “Las Ramblas” site, say sources.
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PermalinkTags: w las vegas, w residences las vegas, edge group, edge east, westgate holdings, las ramblas, las vegas land | 
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