by an EW Partners Watcher (photo credit – Sacramento Bee)
Reported this week in the Sacramento Bee…
On the heels of last years (March 2010) $165 Million loan default on the Ritz Carleton in North Lake Tahoe – developer East West Partners put an additional $900 Million worth of North Lake Tahoe Real Estate into Bankruptcy. (Click Here)
The EWP web site states – “East West Partners is a family of related but independent companies devoted to building, selling, managing and supporting high-quality real estate in the communities in which they operate.” No mention of these reported Bankruptcy’s could be found on their EWPartners.Com corporate web site.
According to the story in the Sacramento Bee…”With Monday’s (25JUL2011) foreclosure sale, the Ritz Carleton NLT became the property of a lender consortium led by Bank of America. The foreclosure “does not impact the operations of the Ritz-Carlton,” said Bank of America spokesman Bill Halldin…”
The EagleCountyTimes.Com broke the story about Eagle County’s $61 Million Dollar Foreclosure on the property known as the Ritz Carleton, Bachelor Gulch earlier this year. (Click Here)