Snarkless in Vegas
A once-major real estate syndicator is selling notes through a newly formed company. One of the company's first investments with the proceeds from the notes was a single condo in a Las Vegas high rise. This morning I saw this Calculated Risk post referencing a Las Vegas Sun article that states that there are 4,000 unsold condo units on the Strip alone. I am trying to think of something nasty to post, but the sheer scale of unsold units and a syndicated real estate investment buying one unit overwhelms my sense of snark.