“Developers’ Bring Vision”

Chandler (Phoenix), AZ., April 23, 2009— Brayden Management professional representation services is pleased to announce the availability for build out of a 300 room full-service Four Star Renaissance Hotel & Club Sport/Convention Center with full entitlements including Marriott endorsements.

This premium property is located at the intersection of Loops 101 and 202 and sits adjacent to Chandler Mall, an upscale Nordstrom and Macy anchored retail center. As a top 5 ULI ranked Phoenix intersection, this 10.5 acres of land offers a short pre- development period granted by a special city approval award titled PDQ Program. The P.D.Q. Program translates into a construction start date of only 60 days from closing.

Buyer interest is expected to be high due to the many attributes presented in this opportunity. The current M.A.I. appraisal, values land onsite improvements at approximately forty million dollars. Funding includes 75% Loan to Cost construction financing with external equity interest also available.

In addition, the US Bankruptcy court provides a liability free clean title to the buyer, and all general contractors, sub-contractors and supplier liens are paid-in-full with no known creditors. Furthermore, with a Phased Master Plan available and construction drawings 100% complete and ready for bidding, there is less upfront risk and enormous potential for return.

“This location offers the potential to regain portfolio value by utilizing a phased site development plan in a superior location. Arizona ranks Chandler as a major business growth area due to ongoing private expansion exceeding five billion dollars. Plus, the owner of this advantageous location will be given maximum developer flexibility. This opportunity encourages a bring your vision approach.” comments, Ron Barrett President, Brayden Management.

This noteworthy investment opportunity offers flexible build-out options including an executive health club; 600,000 square feet class “A” office mid-rise space, residential condominiums, fractional ownership condo space, an off-site storm water detention accommodation and more.

Brayden Management is an industry leader with over $500 million in commercial project management experience. Recognized for delivering efficiencies and profitability through streamlining the building process, Brayden Management is honored to be associated with this auspicious project.

4/19/2009 2:35 PM  ET

His competitors face free falling stock prices and potential bankruptcies, but Steve Wynn’s company is sitting pretty as it prepares to open the doors on Monday to its lavish new resort, Encore.The 2.3 billion-dollar, 2,000-room hotel-casino, which is attached to the 3-year-old Wynn Las Vegas on the Strip, debuts at a moment when Las Vegas is gripped in its worst downturn in decades.

But Wynn is confident that he’ll weather the storm.                                            

“I don’t owe a dime personally and the company’s solid as a rock,” said Wynn, 66, chief executive and president of Wynn Resorts Ltd. “That’s why we were just named to the S&P 500. “We’re not at risk here. We’re very lucky.”

Wynn Resorts, which also has the 600-room Wynn Macau in China and plans to open a 400-room expansion called Encore Macau by Christmas 2009, has certainly suffered in the downturn.

Yet whereas the company has lost about half of its stock value this year, rival MGM Mirage has lost more than 80 percent and Las Vegas Sands has dropped more than 90 percent.

Both of those companies have had to take aggressive measures to shore up their liquidity, as seen last week when MGM Mirage sold off for 775 million dollars the Treasure Island in Las Vegas, a hotel Wynn built and operated until he was bought out in 2000.

LVS has laid off 11,000 workers in Macau as it froze construction there and its majority shareholder, Sheldon Adelson, has shovelled one billion dollars of its own money into the company.

“Wynn has the best balance sheet of all the casino operators right now,” said Bill Lerner, a gaming industry analyst for Deutsche Bank, which has financed several Wynn projects in recent years. “That’s really a function of the more judicious and more cautious about development than his peers and not building any more than he could afford to.”

Judicious and cautious were words few would have applied to Wynn a decade ago as he finished the 1.6-billion-dollar Bellagio, then the world’s most expensive hotel.

In his follow-up to the landmark Mirage, which heralded the street’s 1990s spree of themed mega resorts, Wynn spent so lavishly on luxurious details that Wall Street disapproved and the stock price fell to a point that enabled Kirk Kerokorian to buy him out.

But not even Wynn’s biggest critics dispute he is gifted at creating places of entertainment.

After Kerkorian’s buyout, he bought the failing Desert Inn and replaced it with the 2.7-billion-dollar Wynn Las Vegas, a bronze, curved resort that abandoned his own prior model of providing an eye-popping spectacle.

For the Wynn, he created a light and water show intended primarily for guests. And now, with Encore, Wynn says he’s striving for as much intimacy and elegance as a 2,000-room tower can offer, cutting up the casino into smaller sections for cozier spaces and appointing the property with unusual adornments from red tiger eye tabletops to banana-fiber wall weavings.

The closest thing to Vegas razzle-dazzle is the restaurant Switch, where three different sets of walls alternate.

“Everywhere you go, there’s this wonderful play on texture and quality,” he said. “After Wynn, there was nothing left for us to do but the basics better.”

During a tour of Encore last week, Wynn took a call from Clint Eastwood, praising the actor’s work in the new film “Gran Torino” and asking about the cold Eastwood suffered on his last visit.

Still, commoners delight him, too.

Near the end of that resort tour, Wynn stopped a teen to check if the wheels on his trainers could harm the floor’s tile mosaic.

“Who are you?” the boy’s father asked.

“I just work here,” Wynn answered with a toothy grin.

Others in the hall had none of it.

“Hey, man, that’s the owner,” one man said. “He’s the only person who matters in Vegas.”

Wynn blushed and posed for pictures.

“I gotta go, fellas,” he said eventually. “I’m very busy. I’ve got a new hotel to open.”

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