Las Vegas Commercial Real Estate

Calif.-based Atherton-Newport Investments recently acquired Las Vegas Deer Creek Apartments for $21 million. Located near the Strip at 700 E. Flamingo Road, the 328-unit apartment community was built in 1979 and sits on 6.7 acres of land. The company expects to close on another property in July which would bring the company’s […]

Riv Acquisition Holdings Inc has agreed to purchase Riviera Holdings Corp. for $211.5 million. Additionally, Riv will also repay or assume approximately $215 million of Riviera debt. The deal is expected to close in the first half of 2007.

Las Vegas Sands Corp. is considering listing a real estate investment trust (REIT) in Hong Kong. The possibility was raised as the Sands continues its building of a mall in neighbouring Macau. The mall may become part of the proposed REIT, or as COO William Weidner suggests, “part of it might be monetised […]

The FDIC has released its Spring 2006 State Profiles. In terms of overall commercial real estate (CRE), Nevada still ranks first nationally in commercial real estate loans at 23.6%. Construction and development (C&D) portfolios grew at 48.8%, the fourth highest in the country, and the fastest growing loan type for Nevada institutions. […]

Tropicana Casino owner, Aztar Corporation, is one popular company. Today, it was announced that a third potential suitor for ownership has thrown their towel into the ring. Ameristar Casinos Inc. offered to buy Aztar Corp. for about $1.51 billion.
The offer values Aztar at $42 a share, 2.4% more than Colony […]