Operator News
US – EKN Development buys Tahoe Biltmore Lodge & Casino in Nevada
By Phil - 13 October 2021
EKN Development Group, with its financial partners, Garn Development and Stack Real Estate, have bought the Tahoe Biltmore Lodge & Casino located in Crystal Bay, Nevada on September 16, 2021.
EKN will continue the operation of the hotel and casino in the interim. The group intends to develop the property into a marquee project that welcomes residents and visitors alike to the heart of Lake Tahoe’s North Shore. The design will accentuate Lake Tahoe’s unparalleled natural scenery and beauty in an iconic Tahoe-modern project that boasts a luxury hotel, luxury for-sale condominiums, casino, and curated mix-use retail. Additionally, exciting amenities and experiences will be incorporated into the project.
“EKN Development Group is extremely pleased to add this development opportunity in North Lake Tahoe to our portfolio,” company CEO Ebbie Khan Nakhjavani said. “The design of this project will introduce an unparalleled hospitality experience that will accentuate Lake Tahoe’s natural scenery and beauty, while embracing the distinctive and pristine characteristics of the region.”
“During the pandemic, EKN accelerated its expansion activities which resulted in securing over $250m in equity commitments for projects slated to break ground in the next year, he added.
