Tuesday, June 06, 2006

As reported by the Las Vegas Review-Journal: "The 25-acre Las Ramblas
project on Harmon Avenue has been sold to Las Vegas-based developer Edge
Resorts for $202 million, an executive said Sunday. "Las Ramblas, a joint
venture between Las Vegas-based Centra Properties and The Related Cos. of
Florida, was announced in early 2005 as a $3 billion mixed-use project that
would include 4,000 condo-hotel units, upscale shopping and restaurants.
"Centra and Related paid $75 million for the property, currently the site of
the Harbor Island apartments.

"Actor George Clooney and nightclub owner Rande Gerber were brought on as
partners to help make Las Ramblas a hip destination in Las Vegas,
strategically located between the Hard Rock hotel and the new W Las Vegas
hotel being developed by Starwood Worldwide and Edge Resorts.

"Adam Frank, principal of Edge Resorts, said the new project, known as Edge
East, will be developed as a complementary master plan to the W Las Vegas
hotel..."