Another developer in trouble

Another developer is having trouble making their loan payments. This time, its Focus Property Group not making its February payment on $500 million dollars in loans. The loans were for some 4,800 acres of land in Las Vegas, Pahrump and Victorville, California. Focus certainly isn't the first developer to hit a bump in the road. The company has several residential projects around Las Vegas, including Inspirada in Henderson and Providence in Las Vegas, plus the masterplan for Mountain's Edge.

The impact to these communities will probably be minimal, if any. According to the RJ, their lenders have suggested that Focus give them a portion of the profits when the land is sold.


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