In 2006, before a cratering economy taught grown men how to cry, a Nevada holding company, Southern NV Rental Holdings, purchased dozens of houses around the Palace Station casino on West Sahara.
In that linked article, the Sun hypothesizes that Station Casinos was somehow involved in these purchases, perhaps for possible re-development in that area. That same holding company purchased other residential properties near other Station developments as well.
Well, it seems these houses are again for sale and whoever does ultimately own them seems willing to take a bath to get rid of them. The original article indicates a range of purchase prices, some in the $200,000 - $285,000 range. Many of the units are now listed at selling prices of $120,000 or less.
Is Station selling assets at fire sale prices to raise cash? Given the level of indirection with these holdings, we can't say for sure and the company didn't respond to my email request for a comment.
Update: Some more from the LVBP archives (thanks David!). Still not completely clear it is Station - could be a business partner that now wants to divest itself of land for a project that probably isn't happening anytime soon... or not. The delving continues.