Condo Hotel Center: Property Alert

January 27, 2006

Quick Update on the
W Las Vegas Hotel, Casino & Residences

Hello, Joel Greene here from Condo Hotel Center. If you are receiving this email, it’s because you expressed an interest in the W Las Vegas. We have learned some more details on the project and wanted to pass them along.

Financing of this $2.5 billion hotel-condo-casino has now been finalized, further confirming that this project is well on its way to becoming a reality.

Societe Generale Corporate & Investment Banking ("SG CIB") is leading a syndicate of banks funding a $232.5 million pre-development credit facility for the W Las Vegas Hotel, Casino & Residences, representing a resounding vote of confidence in the project and its ability to lead the new wave of significant projects planned for Las Vegas.

SG CIB has fully underwritten the facility which includes a $195 million first-lien term loan and a $37.5 million second-lien term loan. Proceeds of the pre-development loan will be used in part to refinance an existing $95 million credit facility, to fund expedited pre-development reserve accounts, and to acquire additional land adjacent to the existing prime property required for the project.

"This level of financing commitment at this stage of our development is a powerful vote of confidence in the W brand and our project," said Reagan Silber, co-chairman of Edge Resorts, in a statement.

"This commitment from Wall Street sends a clear message to the market that the W Las Vegas project is on pace to become the new crown jewel in the W Hotels family and in the Las Vegas skyline."

As a reminder, the W Las Vegas will be located on the corner of Harmon and Koval, less than a half mile east of The Strip. It will include the following impressive features:

• 2,000 rooms, approximately 500 of which will be condo hotels
• 80,000 sq. ft. casino
• 50,000 sq. ft. Bliss® spa & gym
• 10 or more destination dining & nightlife outlets
• 100,000 sq. ft. of world-class retail
• 300,000 sq. ft. conference center & meeting space

Confirmed Buyers
I'm not one to name drop, but I did receive an email from my W Las Vegas contact yesterday telling me with great excitement that a lot of "personalities" were buying units. That fact didn't really do much for me, but in the interest of passing along all relevant information, I'm pasting below the celebrity list of confirmed buyers that he sent me. Maybe it includes some of your favorites.

Summer Altice, Actor

Travis Barker, Blink 182

Annie Duke, Professional Poker Player

Adam Goldstein, DJ - "DJ AM"

Ahman Green, Green Bay Packers

Anne Heche, Actress

Paris Hilton, Personality

Mark Hoppis, Blink 182

Donovan Leitch

Benji Madden, Good Charlotte

Joel Madden, Good Charlotte

Brian McKnight, Singer

Dave Navarro, Musician

Jack Osborne, Personality

Joe Reitman, Director/Writer

Matt Sorum, Musician (Guns N' Roses/Velvet Revolver)

Lea Thompson, Actress

James Van Der Beek, Actor

Larry Vavra, Manager, DJ AM

Jadakiss, Rapper

Taboo, Black Eyed Peas

Limited "Friends and Family Units" Left
The good news is that the celebrities haven't grabbed all the W Las Vegas units yet. We at Condo Hotel Center still have a handful of condo hotel units left in our original allotment of 25 available at what the W is calling “Friends and Family Pricing.” These are the lowest prices that W units will be sold for.

In fact, one of our clients made a point of doing extensive checking on the Internet and with other brokers and was happy to report to us that our prices were as much as 10% below what others were quoting in their "W Las Vegas, Coming Soon" announcements. While they've got them coming soon, we've got them for you now!

If you want to review our Property Alert on the W Las Vegas, you’ll find it posted at this link, http://www.condohotelcenter.com/alerts/w-vegas.htm. Towards the end is a link where you can request the data sheet on the property if you need more details.

Maria Lopez and I are available to answer any questions you have on the W Las Vegas, and we can also send you the paperwork to reserve a condo hotel unit (if you haven't aleady) at Friends and Family prices.

Thank you for taking the time to read this quick update from Condo Hotel Center. Have a great weekend!

Joel Greene
Licensed Real Estate Broker
President
Condo Hotel Center
13499 Biscayne Blvd., Suite #210
N. Miami, FL 33181
Ph: (954) 450-1929
Email: CondoHotelCenter@aol.com
www.condohotelcenter.com
www.condohotelsdubai.com

© Copyright 2006. All rights reserved.

No portion of this document may be reproduced in any way without the express written permission of Condo Hotel Center. Copyright violators will be prosecuted in accordance with 17 U.S.C. Section 101 et seq. and could be liable for statutory damages as high as $250,000 per violation as set forth in Section 504(c)(2) therein.