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Hypo Syndicates 45% of $537M Trump Vegas Loan

LAS VEGAS-The loan is for Trump International Hotel & Tower, a luxury condo-hotel development here with 1,282 units that are 90% pre-sold.

By Brian K. Miller | Updated on September 26, 2006

(To read more on the debt and equity markets, click here, and to read more on the multifamily market, click here.)

LAS VEGAS-Hypo Real Estate Capital Corp. has syndicated about half of its $537-million construction loan for Trump International Hotel & Tower Las Vegas, a 1,282-unit luxury high-rise hotel and condo tower that is 90% pre-sold and slated for completion in early 2008. Seven financial institutions bought a piece of the debt, according to Hypo.

Trump International is rising on 3.46-acres on Las Vegas Boulevard at Fashion Show Lane. The planned 645-foot tower is rising above a six-story podium. A five-story parking garage is also part of the development. The project is a partnership of Donald Trump and Phillip Ruffin, owner of the Frontier Hotel and Casino.

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