Het verhaal
The Watermark, the seven-story mixed-use building at 215 S. Water Street that the city sold out of its redevelopment agency in 2020, went into foreclosure in late April with more than $41.5 million in unpaid debt, Clark County records show. San Clemente-based Next Wave Investors acquired the 151-apartment complex this spring after developers finished construction but could not lease the commercial space fast enough to sell or refinance. New owner David Sloan said apartments were just over 70 percent leased and none of the commercial space had been rented yet.
Source: Las Vegas Review-Journal.