Lily Funds Announces Approval Of $60 Million Land Sale Along Las Vegas Resort Corridor

LAS VEGAS, Dec. 9, 2021 /PRNewswire/ -- Tom McManus, president and CEO of Lily Funds is excited to announce the approval of sale of 17 acres of land along Las Vegas' Resort Corridor. The land will be sold for $60 million dollars to the Clark County Department of Aviation after an agenda item was approved during a Clark County Commission meeting on December 7. The sale will close by the end of this month.  

McManus retains two Strip-facing parcels out of the original 22 acres of land just north of 5051 Las Vegas Boulevard, both of which sit in an Opportunity Zone less than a half mile from the Las Vegas Raiders' Allegiant Stadium and nearly adjacent to the "Welcome to Fabulous Las Vegas" sign.

"This is a unique moment for our company as the availability of land on this scale is non-existent in this market," said McManus. "This sale is just another symbol of the exponential growth Southern Nevada is experiencing. I am excited about our remaining Strip-front facing properties as Las Vegas truly is the entertainment capital of the world."

McManus has been active in southern Nevada for decades and has successfully developed master planned projects such as Tuscany, in Henderson. Since 2013, Lily Funds LLC has initiated millions of dollars in property investments nationwide and continues to grow its operations.  

About Lily Funds
Founded in 2013, Lily Funds LLC is a private investment company and multifamily office located in Fort Lauderdale, Florida. Lily Funds value-add and opportunistic investing across the United States and Caribbean, through affiliated companies, it holds and manages numerous real estate holdings. President and CEO Tom McManus founded the company to integrate best practices developed throughout his career with a nimble structure possible only at a firm overseen directly by him. For additional info visit www.lilyfunds.com  

Media Contact: Elizabeth Trosper; Trosper Public Relations
Email:  [email protected]  Phone: 702.283.2970

SOURCE Lily Funds