Vestar Snags Las Vegas Shopping Center For $79M

Law360, New York (November 2, 2011, 4:25 PM EDT) -- Vestar Development Co. and Rockwood Capital LLC have bought a retail center outside of Las Vegas for $79 million from real estate investor LNR Partners LLC, the buyers said Wednesday.

Vestar and Rockwood, operating as a joint venture, paid cash for The District at Green Valley Ranch, a 384,107-square-foot shopping and entertainment center located in a planned community, the firms said in a statement.

The deal marks Las Vegas' second-largest commercial real estate investment in three years, according to the firms, and one that Phoenix-based Vestar believes will...
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