Sold: Bankruptcy Auction: ~38 .56 Acres of Land on the Las Vegas Strip

Bid Deadline: April 30, 2020
Auction Date: May 19, 2020
Stalking Horse Offers will be Considered
Offers Reviewed Upon Receipt

Keen-Summit Capital Partners LLC and Colliers International (collectively, “Advisors” or “Brokers”) have been engaged by Kavita Gupta, the Chapter 11 Trustee (“Trustee”) for the estates of Desert Land, LLC, Desert Oasis Apartments, LLC and Desert Oasis Investments, LLC (“Estates”), as exclusive Real Estate Agents for this offering.

The Property is being offered “AS IS / WHERE IS” in whole or in parts.

Interested prospects need to abide by the bid procedures and bid requirements filed and approved by the United States Bankruptcy Court, District of Nevada, and available in the secure online data room.

Offers will be reviewed and considered in advance of the bid deadline, as the Trustee is permitted to withdraw any parcel in Lots 1, 2, 3, 4, 5 or 6 at any time prior to the foregoing bid deadline pursuant to the bid procedures order.

The Estates’ assets are being simultaneously marketed for sale as an “Assemblage” and as five separate lots.

Media Coverage:

Wall Street Journal – “Failed Skyvue Site on Las Vegas Strip Hits Auction Block” – 1/30/2020
Las Vegas Review-Journal “Abandoned property on Las Vegas Strip for sale again” – 2/4/2020
ABI – Headlines
Best US Casinos
Yahoo Finance
Financial Content
Market Screener

Portfolio Highlights:

  • Most significant development site available on the Strip
  • Located in a Qualified Opportunity Zone
  • Prime location for Hotel, Gaming, Retail, Parking, etc.
  • The greatest density of hotel rooms and guests are within four blocks of the site
  • Directly across from Mandalay Bay, Walking Distance from the new Las Vegas Raiders stadium, near McCarran Airport
  • The lots are being offered “As Is/Where Is”
  • All offers will be reviewed and considered in advance of the bid deadline
  • Additional Materials Including Bid procedures, PSA and Due Diligence items available in the secure online data room:
Matt Bordwin, Keen-Summit Capital Partners
(646) 381-9202
Heather Milazzo, Keen-Summit Capital Partners
(646) 381-9207
Michael Stuart, Colliers International
(702) 836-3739
Mike Mixer, Colliers International
(702) 836-3777
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