FOR IMMEDIATE RELEASE
Los Angeles, CA, November 16, 2011 — Real estate investment firm Westport Capital Partners LLC (“Westport”) announced today that it has closed on the purchase of Village Square at Peccole Ranch in Las Vegas, NV. Terms were not disclosed.
Village Square is a 250,000 square foot open-air retail and office complex located at the prominent intersection of Sahara Avenue and Fort Apache Road. Anchored by the 70,000 square foot, 18-screen Regal Cinemas, the center serves the Summerlin and Peccole Ranch master planned communities in northwest Las Vegas.
Russel S. Bernard, Managing Principal at Westport, said, “We believe that well-selected Las Vegas real estate offers a promising opportunity and we see this property as a good fit with the firm’s opportunistic investment philosophy. This Center is located at one of the City’s premier intersections and is well positioned to thrive under our stable ownership and management expertise.”
Scott Chernoff, Principal at Westport, added, “The property is home to several established businesses that serve the affluent Summerlin community. We will immediately implement an aggressive leasing and marketing program along with property upgrades and enhancements that will soon establish Village Square as the premier retail and office complex in this market.”
About Westport Capital Partners LLC
Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic real estate arena. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed and opportunistic real estate assets. The firm has offices in Los Angeles, CA and Wilton, CT.
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