BACKGROUND

The Peccole Portfolio transaction was an off-market 9-property, $130mm acquisition from a 3rd generation family developer in Las Vegas, NV. The transaction was a case study demonstrating Prospect Street’s ability to evaluate multiple property types in one neighborhood in a condensed period of time. The portfolio offered well-designed properties with a strong credit rent roll (Humana, Whole Foods, and CVS) in Summerlin, a high-quality demographic sub-market in Las Vegas. Our business plan execution included leasing all shopping centers to 100% occupancy, creating significant operating expense efficiencies, and maximizing land value through development and sales. From acquisition in Q4 2019 to disposition in Q3 2021, the firm exited the portfolio with over $200mm in proceeds.