Stiffed On $760M Construction Loan, Deutsche Bank Seeks Partners For Unfinished Condo-Hotel In Foreclosure

In Las Vegas, Nevada, Reuters reports:

• Deutsche Bank AG, senior lender to the partially built Cosmopolitan Resort & Casino in Las Vegas, continues to seek partners to operate the 3,000-room resort as it carries out foreclosure proceedings, a spokesman said on Thursday. "We are looking for partners," said bank spokeswoman Ted Meyer.

• Deutsche Bank began the foreclosure process in January after developer 3700 Associates LLC, led by Chief Executive Ian Bruce Eichner, defaulted on a $760 million construction loan for the condominium-hotel project.

For more, see Deutsche Bank still seeks partners for Vegas resort.