LAS VEGAS, NV — Houston-based Revanche LLC has sold the 795-room Maxim Hotel & Casino here to C.P. Las Vegas LLC— a Kentucky-based owner and operator of franchised hotels— in a transaction valued at approximately $38 million. Insignia/ESG Hotel Partners was the owners exclusive representative in this sale. While the Maxim— located two blocks east of the premier Flamingo Road/Strip intersection— has been closed since August 2001, the facility offers over 32,000 square feet of casino space and extensive food, beverage and recreational facilities. Under the aegis of its new ownership, the property is slated to undergo an extensive renovation. This transaction marks the brokerage firm’s second sale of the Maxim in the past three years. In May 1999, the firm acted as exclusive agents representing the seller in the disposition of the property.
