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Old February 4th, 2008, 08:23 AM   #101
cosmo2k9
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Cool Shot

I definitely crossing my fingers on this project to it's completion...

Who knows perhaps in a few short years the local news will run a segment on the Cosmopolitan and how it was the megaresort that almost didn't happen.


Thank you Mark!

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Old February 4th, 2008, 08:29 AM   #102
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Cosmo Letter Received on January 31st

As you may already know on January 16, The Cosmopolitan was sent a notice of default on a construction loan of $760 million with our lender, Deutsche Bank AG.

First of all, we want to assure you that your deposits are safe. Your deposits are in an account with a bank other than Deutsche Bank and the account is controlled by First American Title Company, the escrow agent. The deposits are not to be released except as provided in your Purchase and Sale Agreement. The Purchase and Sale Agreement currently serves as the escrow instructions for your transaction. Although we have been served notice of default on our construction loan, we have not defaulted on your Purchase and Sale Agreement. Our intent is for The Cosmopolitan team, or a successor entity, to perform all of the obligations of the Seller under your Purchase and Sale Agreement.

Even prior to receiving the default notice, The Cosmopolitan and its partners, Hyatt and Marathon had been working together to secure an equity infusion that would ensure our ability to secure permanent financing for the project. We are optimistic about concluding a deal in the very near future details of which will be forthcoming. It is also important to note that construction will not be interrupted as per an agreement between Deutsche Bank AG and Perini.

The Cosmopolitan is poised to become a special and unique entrant onto the Las Vegas Strip and we remain confident that you will be pleased with the ultimate direction the project takes. We are confident that the property will be fabulous!

The Cosmopolitan welcomes any additional questions you may have. Please feel free to call your sales associate for further information. We will keep you abreast of further developments.

Sincerely,
The Cosmopolitan
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Old February 4th, 2008, 10:20 AM   #103
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It is not a 'wow' design but simple and nice.
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Old February 5th, 2008, 08:07 PM   #104
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regarding Cosmo letter.

Thank you for posting the note from Cosmompolitan.
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Old February 6th, 2008, 01:56 AM   #105
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Welcome yramsin!

Cheers!
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Old February 7th, 2008, 02:11 AM   #106
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Old February 8th, 2008, 07:38 AM   #107
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Did you took that picture from the Entrance pathway of Bellagio right?
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Old February 8th, 2008, 07:52 AM   #108
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Close, from the top of the garage near there.
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Old February 23rd, 2008, 06:46 AM   #109
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COSMO SAVED!

http://www.lasvegassun.com/blogs/gam...-manage-hotel/

Eichner is out.
Global hedge fund, Marathon Asset Management, takes over.
Hyatt will manage the hotel and convention facilities.
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Old February 23rd, 2008, 07:16 AM   #110
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Old February 23rd, 2008, 08:49 AM   #111
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Great news!!!
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Old February 23rd, 2008, 06:09 PM   #112
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Cosmo Saved

"Who knows perhaps in a few short years the local news will run a segment on the Cosmopolitan and how it was the megaresort that almost didn't happen."

I can see how they will start that news segment already!

Thank you Marathon & Hyatt!

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Old February 23rd, 2008, 06:17 PM   #113
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It sure looks great!
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Old February 26th, 2008, 03:21 AM   #114
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Old March 11th, 2008, 09:21 AM   #115
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Cosmo is really engulfing the Jockey Club and CityCemter is going nutz

image hosted on flickr
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Old March 11th, 2008, 09:21 AM   #116
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You can see Panorama tower 3 on the far right
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Old March 11th, 2008, 10:34 AM   #117
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^ LOL it just sorta blends in from this angle, same cannot be said of the fugly jockey club timeshare. If ONLY they managed to tear it down :-(

btw are they gonna change the name to a Hyatt now?
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Old March 11th, 2008, 11:24 PM   #118
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Wow, towers go up so quickly in Las Vegas!
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Old March 16th, 2008, 08:36 AM   #119
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That's because they don't stop a 5:00 p.m. They go thee shifts- 24/7
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Old March 16th, 2008, 08:38 AM   #120
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Cosmopolitan is in trouble again.

http://online.wsj.com/article/SB1205...googlenews_wsj
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