The Cosmopolitan of Las Vegas News - Page 21

Perini Corporation reports that Deutsche Bank has begun the foreclosure process on the Cosmopolitan Resort and Casino as a parallel track to its negotiations with Global Hyatt Corporation and New York-based Marathon Asset Management.

A hotel company and an investment firm have reached an agreement to save New York developer Bruce Eichner's financially troubled $3 billion Cosmopolitan from default, an official with the Strip project said Wednesday.

Construction of the $3 billion Cosmopolitan project on the Strip will continue toward a December 2009 opening while the owner and the banks work on new financing for the project.

Perini Building Company, Inc, a wholly owned subsidiary of Perini Corporation, has in place an interim commitment with Deutsche Bank.

The tightening lending market is jeopardizing the ownership of the Cosmopolitan, a multibillion-dollar hotel-condominium development under construction on the Strip.

The Deutsche Bank has delivered a notice of loan default to the developer of the Cosmopolitan Resort and Casino project under construction in Las Vegas, Nevada.

After a year of digging down, construction on the Cosmopolitan began its ascent skyward Monday with the placement of its first 50-foot high steel beam.

Las Vegas-based Tenner & Associates, Inc. has been awarded a long-term contract for branding, marketing and event creation by the soon-to-open Cosmopolitan Resort Hotel.

The Cosmopolitan Resort & Casino has signed a deal with Robert K. Futterman & Associates real estate firm to be the exclusive broker for the resort’s retail space.

At the center of the famous Las Vegas Strip rises the Cosmopolitan Resort & Casino, a $2 billon stunning architectural statement with panoramic views of Bellagio, the Eiffel Tower, Mandalay Bay, and the majestic Red Rock Canyon.

Ian Bruce Eichner, developer of the $2 billion Cosmopolitan Resort & Casino south of Bellagio on the Strip, said Wednesday that Deutsche Bank has loaned $415 million in constructio

The first phase of the Cosmopolitan Resort & Casino project's bank loan was closed by Deutsche Bank earlier this month and clears an important milestone for the development.

Manhattan and Miami developer Bruce Eichner is developing the $1.8 billion Cosmopolitan his way, breaking new ground for the Strip projects in ownership, financing, size, room density, retail mix, hotel branding and condominium development.

A midmorning thunderstorm Tuesday wasn't going to deter developers of the $1.8 billion Cosmopolitan from holding the project's formal groundbreaking.

Perini Building Company has signed a construction contract with a value of approximately $1 billion with 3700 Associates, LLC to build The Cosmopolitan Resort & Casino.

The Cosmopolitan's layout of retail stores and restaurants is based on easy access and convenience for consumers with unprecedented branding and signage opportunities for tenants.

The $1.5 billion Cosmopolitan Resort & Casino boldly addresses an emerging trend in Las Vegas where a tourist's primary vacation purpose is shopping, dining and entertainment.

Hyatt Hotels Corp. has signed an agreement with the planned Cosmopolitan Resort & Casino to operate the property's 2,700 hotel and hotel-condo units under the Grand Hyatt brand -- the brand's debut in Las Vegas.

Hyatt Hotels will bring its refined Grand brand with the upscale accommodations at The Cosmopolitan Resort & Casino.

The $1.5 billion Cosmopolitan Resort and Casino will bring two new equity investors to town -- New York developer Ian Bruce Eichner and SFM Capital Management, an affiliate of New York City-based Soros Fund Management LLC.