The Siegel Group, a real estate investment and management firm, announced an off-market sale of a portion of its land holdings in Las Vegas to the homebuilder KB Home (NYSE: KBH) for $19 million.
The sale includes approximately 20 acres of a larger 27-acre assemblage along Boulder Highway near US Route 95. The Siegel Group retained seven acres, which include a 186-unit extended-stay complex and a retail parcel for future development, while selling the remainder to KB Home.
“We’re thrilled to complete this sale with KB Home, a top-tier builder known for creating exceptional residential communities,” said Stephen Siegel, president of The Siegel Group. “Their development will bring much-needed housing to Boulder Highway and positively impact the community.”
Photo of Stephen Siegel courtesy of The Siegel Group
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