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Blue hotel tower on Vegas Strip sold to Koch Industries arm
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Associated Press
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Friday, February 12, 2021
LAS VEGAS (AP) - An unfinished blue-glass resort that has been under construction for 15 years on the Las Vegas Strip has been sold to a real estate affiliate of Koch Industries in partnership with the original property developer.
Koch Real Estate Investments announced Thursday it acquired the 67-story tower with Fontainebleau Development.
The hotel began construction as the Fontainebleau in 2006 and work stopped when it went bankrupt during the Great Recession.
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It was renamed the Drew Las Vegas after Steven Witkoff and Miami-based investment firm New Valley LLC bought it for $600 million in 2017. ....

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