BACKGROUND

Blue Diamond Entertainment District was an off-market 66-acre $99mm vacant land acquisition in 2022 with a strategy focused on developing an entertainment-oriented neighborhood anchored by a world-class arena. The transaction showcased our ability to work with an operating partner (Oakview Group) that outlined its location, sizing, and pricing preferences after careful consideration and discussion. Prospect Street was able to complete the acquisition within a 30-day period as a result of the firm’s local relationships and execution ability.

The go-forward strategy will be to sell 25 acres to the Oakview Group (“OVG”) where they will develop a state-of-the-art arena and integrated gaming resort while Prospect Street’s Northern neighbor, Brightline West, is developing a high-speed train between Los Angeles and Las Vegas. Upon completion Prospect Street will tactically develop the surrounding 41 acres with congruent offerings to OVG and Brightline West’s projects.