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Thursday, May 1, 2014

Bids on Natchez site due in June

Source: The Clarion-Ledger

A Chicago real estate company will direct the sealed bid sale of the VUE Hotel and Restaurant and adjacent casino development site in Natchez.

RJB Financing LLC retained NRC Realty & Capital Advisors to handle the sale of the two buildings and 20.9-acre site overlooking the Mississippi River. The complex has 94 rooms - 65 on the rebuilt first floor, 28 and a rooftop penthouse on the refurbished second floor. The adjacent development site has had $14 million in site preparation work completed.

RJB Financing took possession through a bankruptcy proceeding in 2012 and is operating the hotel. Emerald Star Casino - Natchez LLC purchased the casino in 2006, later changing the name to Grand Soleil Natchez LLC, and purchased the undeveloped land in 2005 to build a 32,000-square-foot casino.

Sealed bids are due June 19.