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Deutsche Bank Looking to Sell Cosmopolitan Resort

Deutsche Bank Looking to Sell Cosmopolitan Resort

Deutsche Bank AG is looking to sell the Cosmopolitan of Las Vegas for more than $2 billion, according to this report from Bloomberg. The bank is in talks with potential buyers in an attempt to end a six-year, money-losing venture into casino development, the article states. Deutsche Bank foreclosed on the property after developer Ian Bruce Eichner defaulted on a construction loan in January 2008, and has labeled it a temporary investment. The two-tower complex cost more than $3.9 billion to build and has never turned a profit.

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