2012 Distressed Land Portfolio

New West acquired and managed 1,800 partially finished SF lots in Phoenix Arizona along with a commercial site and 540 SF lots in Las Vegas on behalf of The Lightstone Group – a New York based Investment Fund.

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overview

New West acquired and managed 1,800 partially finished SF lots in Phoenix Arizona along with a commercial site and 540 SF lots in Las Vegas on behalf of The Lightstone Group – a New York based Investment Fund. The Phoenix lots were finished and the commercial site in Las Vegas was repositioned as a multi-family site. Upon sale the portfolio return was 3x its acquisition costs over 4 years.


value
$90 Million
Units
2900
timeline
2012-2016

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