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Thread: Wheeling And Dealing

  1. #1

    Wheeling And Dealing

    The Raiders have sold their Henderson headquarters for $191 million and leased it back, a rapid sale of a project that is still being built by a team that has not yet played a game in Las Vegas.

    Chicago-based Mesirow Financial purchased the under-construction football facility across from Henderson Executive Airport and leased it back to the NFL team for 29 years, with seven 10-year extension options, filings with the Clark County recorder’s office show.

    The sale closed Friday. Public records obtained by the Review-Journal do not show the Raiders’ annual rent.

    The transaction shows how the NFL team has turned a once-discounted plot of city-owned property into lucrative real estate. It also comes on the heels of other leasebacks involving high-profile Las Vegas buildings.

    The Raiders bought 55.6 acres of land from the city of Henderson in 2018 for a little over $6 million, half the appraised value, and sold its unfinished facility there for more than 30 times that.

    Public records show the Raiders entered into a ground lease at the site and subleased it right back, indicating the team still owns, but is now renting, the land underneath the complex.

    Raiders President Marc Badain declined to comment on the transaction.
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    Bowl Cut ain't as dumb as he looks.

  2. #2
    Quote Originally Posted by RAIDERMAN818 View Post
    The Raiders have sold their Henderson headquarters for $191 million and leased it back, a rapid sale of a project that is still being built by a team that has not yet played a game in Las Vegas.

    Chicago-based Mesirow Financial purchased the under-construction football facility across from Henderson Executive Airport and leased it back to the NFL team for 29 years, with seven 10-year extension options, filings with the Clark County recorder’s office show.

    The sale closed Friday. Public records obtained by the Review-Journal do not show the Raiders’ annual rent.

    The transaction shows how the NFL team has turned a once-discounted plot of city-owned property into lucrative real estate. It also comes on the heels of other leasebacks involving high-profile Las Vegas buildings.

    The Raiders bought 55.6 acres of land from the city of Henderson in 2018 for a little over $6 million, half the appraised value, and sold its unfinished facility there for more than 30 times that.

    Public records show the Raiders entered into a ground lease at the site and subleased it right back, indicating the team still owns, but is now renting, the land underneath the complex.

    Raiders President Marc Badain declined to comment on the transaction.
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    Bowl Cut ain't as dumb as he looks.
    let the fools continue to look at his bowl cut and thinks he is a doofus,mean while mark is killing it financially for the raiders dude is great with numbers and business,got the best outta sheldon adelson the power broker of nevada

  3. #3
    Sheldon isn't worried. LOADED. Great guy too.

  4. #4
    Quote Originally Posted by RAIDERMAN818 View Post
    Sheldon isn't worried. LOADED. Great guy too.
    no doubt sheldon is one of the greats but he did get taken by mark davis on vegas deal,no doubt about that one

  5. #5
    Quote Originally Posted by mstrbass2000 View Post
    no doubt sheldon is one of the greats but he did get taken by mark davis on vegas deal,no doubt about that one
    Yep, wanted controlling ownership of the Raiders.....at least he'll keep some of the traditions alive.

  6. #6
    Sheldon got rebuffed by Davis, but behind the scenes he played an important role in getting the ball moving and ultimately the Raiders landing in Vegas.

    Wouldn't minded it at all if Sheldon had a piece of the Raiders.

  7. #7
    That's a pretty sweet deal Badain engineered.

    Even if the Raiders dumped like 120 million into building the facility, after the sale they walk away with over 60 million in cash and still own the land it's on.

    Don't know what the leasing of the facility is going to cost, but 60 million should pay the rent for a while.

  8. #8
    Quote Originally Posted by RAIDERMAN818 View Post
    That's a pretty sweet deal Badain engineered.

    Even if the Raiders dumped like 120 million into building the facility, after the sale they walk away with over 60 million in cash and still own the land it's on.

    Don't know what the leasing of the facility is going to cost, but 60 million should pay the rent for a while.
    Agreed, there is 55 acres of land, HQ and fields sit on 30 acres, so the Raiders still own another 25 acres of undeveloped land surrounding HQ. Similar to how the Cowboys surrounded their HQ with retail/hotels....which keeps the players close to the facility, when lots of services, restaurants and hotels sit a walk a way from the facility.

  9. #9
    Quote Originally Posted by Raiderjohn622 View Post
    Agreed, there is 55 acres of land, HQ and fields sit on 30 acres, so the Raiders still own another 25 acres of undeveloped land surrounding HQ. Similar to how the Cowboys surrounded their HQ with retail/hotels....which keeps the players close to the facility, when lots of services, restaurants and hotels sit a walk a way from the facility.
    henderson is a fast growing area also,homes are appreciating quickly,i bought a place 7 yrs ago for under 150k and now its up to 370k

  10. #10
    Quote Originally Posted by mstrbass2000 View Post
    henderson is a fast growing area also,homes are appreciating quickly,i bought a place 7 yrs ago for under 150k and now its up to 370k
    Migration east out of California.....they're going to need a wall between the states. Google, Facebook, will start to think....those taxes in Nevada are not bad compared to CA.....if Mark can start eating up more land....boy he can help develop Silicon Valley 2.

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