Fort Lauderdale real estate company sells Prime Las Vegas Strip property for $21 million

Lily Funds, through its affiliated company New World LLC, has announced the successful sale of a 5.25-acre property along Las Vegas's "Resort Corridor."The sale of 5051 Las Vegas Blvd. for $21 million, to Shopoff Realty Investments and Contour Real Estate, closed Feb. 14. The buyers plan to develop a new 450-room hotel, to be branded and managed by the Dream Hotel Group. Both buyers are based in California. We are pleased to not only complete the successful sale of the property and excited about the activity we are seeing on our remaining 22 acres," said Tom McManus, President and CEO of Lily Funds. "We are gratified when we can contribute, through a sale like this, to the further evolution of a dynamic real estate market such as Las Vegas