16 Feb CLOSED A PARCEL OF LAND WITH LENNAR
Meet the folks behind land acquisition and development at Lennar in Las Vegas, true professionals in an industry ripe with wannabes. Investing in land or real estate in the southwest United States still does in many resemble a wild-west mentality in comparison with the Tier – 1 cities like New York or San Francisco. We purchased a 27.5 acre parcel of land from BLM (Bureau of Land Management) at an auction in 2015 for 6.3M and exited to Lennar for about $11M, an approximate 80% return. Over the coming 24 months, Lennar will start by building 150+ homes on our parcels and then continue on to adjacent land, capping off a nicely designed subdivision community that is just minutes from the center of of Vegas, the Raiders Stadium and the airport.