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Sbe hires Gensler, Penta to evaluate Las Vegas locale
The owners of the shuttered Sahara Hotel & Casino in Las Vegas say they have finalized their purchase of the mortgage debt they utilized to acquire the property in 2007, and will move forward with plans to renovate and reopen the Strip locale. “We’ve invested substantial new equity to acquire the note, allowing us complete flexibility to re-envision this property,” said Sam Nazarian, founder chairman of sbe, which owns the casino locale with Stockbridge Real Estate Funds.
In addition to acquiring the note, the owners said they have hired Gensler Architects and Las Vegas-based Penta Building Group to “evaluate a range of options” for the property, said Nazarian.
The Sahara closed in May, just prior to what would have been its 60th anniversary.
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