Centerbridge Unit Bets On Las Vegas Timeshare Tower

Law360, New York (November 22, 2011, 7:49 PM EST) -- Centerbridge Capital Partners LP affiliate Resort Finance America LLC has purchased a controlling interest in the 52-story Las Vegas timeshare hotel PH Towers Westgate from Westgate Resorts, the companies said Tuesday.

Dallas-based RFA's stake in the 1,200-unit hotel is its latest foray into timeshare operation since its creation in September by Centerbridge.

"This acquisition represents a significant step forward in the implementation of RFA's strategy to invest in high-quality timeshare projects in partnership with the world's leading timeshare operators on a fee-for-service basis," RFA President William...
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