The owner of the Westin Casuarina Hotel, Casino & Spa in Las Vegas isn’t commenting on how the property is performing during the recession, but real estate watchers say the 826-room property may face foreclosure.
Fitch Ratings today downgraded a class of Wachovia Bank Commercial Mortgage Trust securities issued in 2005, citing several problem loans around the country.
One of the loans that was pooled and sold to investors in the Wachovia securities is secured by the Westin Casuarina on Flamingo Road just east of the Las Vegas Strip.
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