Illia, Tony
December 2008
Las Vegas Business Press (10712186);12/29/2008, Vol. 25 Issue 52, pP8
The article focuses on the refusal of BankUnited to provide mortgages to several local luxury condominium developments in 2008. The projects in Nevada that were declined by BankUnited to have a loan include Allure Las Vegas, The District at Green Valley Ranch Resort and Manhattan Condominiums. According to the bank's spokesperson, the declining market value, high investor concentration and structural-based litigation are the factors that led to the firm's decision. The BankUnited reported its forecasted decrease in sales for the fourth quarter.


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