Acquisition: 3.85 Acres in SW Las Vegas

On July 27, VAC Development closed on their first land acquisition in their newly formed Joint Venture with WG Group and Sansone Investments. The land was purchased at fair market value with internal capital and a land loan from Crossfirst Bank. The intention with the acquisition is to utilize the current commercial zoning on the project and develop a multi-pad strip center with inline retail in the back of the parcel. Before the close of escrow, VAC was able to execute a lease with a Conoco Phillips user on a 20-year build-to-suit lease for an above-market rental rate. VAC is in final discussions with Starbucks and several other users for the remaining pads to deliver a clear path to profitability and execution of their business plan before they receive permits to go vertical.

Devon Sansone of VAC procured the investment opportunity. As the first land opportunity, VAC wanted to internally fund the structure of the deal, but is looking for equity investment partners for the vertical development and future land acquisitions in the market. For finding out on how to become an investor with VAC, please follow the prompt to invest here.

South Aerial Rainbow Oquendo