Las Vegas sees $120 million in commercial loans go into default

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By Hubble Smith  – LAS VEGAS REVIEW-JOURNAL

Las Vegas saw more than $120 million in commercial loans go into default in November, including the Rainbow Promenade shopping center at 2051 N. Rainbow Blvd., according to a report from Nevada Title Co. JP Morgan is the original beneficiary of the $37.9 million loan.

Borrowers are struggling to pay off debt on properties with depressed values and high vacancy.  READ THE ARTICLE.