From the WSJ:
"A team that includes New York developer Related Companies is making a bid to take over the unfinished and financially ailing Cosmopolitan Resort Casino on the Las Vegas Strip, according to people familiar with the matter.
Related, led by real-estate tycoon Stephen Ross, has teamed with Starwood Hotels and Resorts Worldwide Inc.'s W Hotel group and an unidentified casino operator to try to take over the $3.9 billion hotel-condominium and casino project. The project's lender, Deutsche Bank AG, started foreclosure proceedings this month against the developer, Ian Bruce Eichner, on a $760 million loan."
