The Real Deal Miami

Soffers lose property in Las Vegas

March 10, 2011 01:23PM

Lenders have taken back the Town Suare mall and offices in Las Vegas
from the Soffer family. The Soffers owed $500 million on the 1.2
million-square-foot site. The Soffers’ Turnberry Associates,
which is led by Jeffrey Soffer, is known in Las Vegas as a developer of
luxury condos — it previously filed bankruptcy on the unfinished
Fontainebleau hotel-casino. The current manager at the site is Forest
City Enterprises, which owns the Galleria at Sunset mall in Nevada.
According to Forest City’s Jeff Linton, it is not seeking to buy the
property. [SFBJ]