CREXi Closes $63M Las Vegas Deal
The online real estate marketplace sells an 11-property portfolio of surplus land parcels in Clark County.
Online real estate marketplace CREXi has closed the transaction of an 11-property portfolio or surplus land parcels in Clark County for $63 million. Through the transaction, Clark County will gain significant sale proceeds in addition to promoting private development at these highly strategic locations.
Clark County was required to conduct a live auction, which allowed for some remote online bidding. CREXi was able to demonstrate superior technology and customization, which allowed the county to conduct their first ever exclusively online event.
Bidders in the $63 million total sale included private investors, developers and multiple publicly traded builders and REITs, with heavy competition continuing throughout the auction.