Bref HR LLC, the owner and operator of the Hard Rock Hotel & Casino Las Vegas, is seeking options to avoid missing a March mortgage interest payment. Failure to pay could jeopardize the company's future and lead to foreclosure.
Affiliates of Brookfield Financial LLC formed New York-based Bref in February 2011 to buy the interests of HRHH JV Junior Mezz LLC, which indirectly owned the hotel. HRHH's interests were assigned to Bref in lieu of foreclosure after HRHH had defaulted on a mortgage loan provided by Brookfield. (Bref is a franchisee of Hard Rock Cafe International, Inc., which owns the global trademark for all Hard Rock brands.)