Gindi Capital Pays $172 Million for Property on Las Vegas Strip

LAS VEGAS, NEV., June 01, 2019 – Gindi Capital, a privately held investment company specializing in commercial real estate, announced that it has acquired a 9.5-acre property on the Las Vegas Strip for $172 million from FX Luxury Las Vegas I, an affiliate of Spectrum Group Management. Located adjacent to Gindi’s other holdings on the Strip, the property is located at 3743-3759 Las Vegas Boulevard in Las Vegas, Nevada and contains 700 feet of street frontage, doubling the company’s holdings on the high-profile street.

Gindi Capital is currently working with its development and design teams to unveil plans for a new flagship retail, entertainment and dining experience.

“I see the Vegas strip as Time Square West, with an incredible amount of foot traffic at a fraction of the rent,” said Eli Gindi, Principal of Gindi Capital. “At the opening of his store on the strip, Jay Schottenstein, CEO of American Eagle Outfitters (NYSE: AEO) commented that this is the best retail street in the America.”

JLL’s Vice Chairman of Retail Advisory Services Michael Hirschfield and his team will oversee leasing at the new development.

About Gindi Capital

Gindi Capital is a privately held real estate investment and development company lead by principles      Eli Gindi and Jeffrey Gindi. Upon its founding in the late 1990’s, Gindi Capital has been involved in many commercial real estate projects in markets such as New York, Miami, and Las Vegas. Notably, Gindi has led the repositioning of The Showcase Mall and its neighboring sites adding significant value to the Las Vegas strip.