In September 2009, the Office of Comptroller of Currency seized the Chicago-based Corus Bank, N.A. The FDIC, as a receiver for the failed institution, sought to partner with private equity sponsors to help manage Corus Bank’s nationwide portfolio of condominium construction projects.
ST is the managing member of a public-private partnership between the FDIC and a consortium of esteemed private equity investors, including Starwood Capital, TPG, Perry Capital and WLR LeFrak. ST’s management of this partnership provides the greatest combination of industry experience and resources, offering the highest standards of design aesthetic and quality. Numerous upgrades are placing the finishing touches to the premier luxury high-rise that rises 300 feet above the Entertainment and Arts District within walking distance to The Fremont Street Experience, the Business District and urban living. Other available properties now for lease in our growing portfolio include LOFT 5 and ONE Las Vegas on South Las Vegas Boulevard.
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