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Deutsche Bank Finally Sells Cosmopolitan For $1.73 Billion

Deutsche Bank inked a deal with the Blackstone Group earlier this week to finalize the sale of casino and hotel Cosmopolitan of Las Vegas in an all-cash transaction for $1.73 billion. The German banking giant assumed ownership of the resort in mid-2008 after the original developer defaulted on a $760 million construction loan, and has been looking for a buyer since then as the economic downturn hit the real estate industry.

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