May 06, 2026 Press Release
Realberry, Proper Hospitality Secure Financing for Cal Neva Redevelopment
Following the closing of a major funding round, the legendary Cal Neva starts a new chapter as a design-driven resort and casino set on Lake Tahoe
NEWS
Published May 15, 2026
The New York Post reports on the planned reopening of the Cal Neva Resort, Lake Tahoe property owned atone time by Frank Sinatra and frequented by Marilyn Monroe, John F. Kennedy, and the Rat Pack in its 1960s heyday. The article covers Realberry and Proper Hospitality's announcement of a $298 million financing package to redevelop the long-closed property into the Lake Tahoe Proper Resort and Casino, with a planned 2027 opening. It highlights the resort's colorful past - including its underground tunnel networkand Monroe's final weekend stay at the property in July 1962 - while detailing the reimagined resort's plans for 197 rooms, a restored 225-seat theater, and two lakefront pools.
May 06, 2026 Press Release
Following the closing of a major funding round, the legendary Cal Neva starts a new chapter as a design-driven resort and casino set on Lake Tahoe
Stay in the Know
Be the first to hear about new investment opportunities, market changes, and exciting real estate developments around the country.