LILY FUNDS ANNOUNCES SALE OF 2.2 ACRES OF LAND ON LAS VEGAS STRIP

LAS VEGAS, June 1, 2022 /PRNewswire/ -- Tom McManus, president and CEO of Lily Funds, LLC is excited to announce the sale of 2.2 acres of prime real estate on Las Vegas Blvd., located 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. The purchase price of $12,760,000 equates to $5,800,000 an acre. McManus still has for sale 2.48 acres with an asking price of $16,500,000 located south of the property, next to the new Dream hotel.

"I am very happy to see another successful transaction, and while the buyer has requested to remain anonymous, we are excited for the possibilities," said McManus. "We have now divested out of 25 acres of our portfolio over the past two years. This sale is just another symbol of the exponential growth southern Nevada is experiencing."

McManus has been active in southern Nevada for over a decade 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.

Founded in 2013, Lily Funds, LLC is a private investment company and multifamily office located in Fort Lauderdale, Florida. Lily Funds, LLC provides 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