Paulson Buys Up Las Vegas Land

Aug 9 2012 | 1:46pm ET

John Paulson made his name—and his fortune—betting on a collapse in the real-estate market. Now, he’s betting on a revival in one of the U.S.’s hardest-hit, but fastest-growing, markets.

Paulson’s hedge fund has bought up more than 875 acres of the Lake Las Vegas resort—most of the remaining undeveloped land in the community in Henderson, Nev., 20 miles east of the Las Vegas Strip. Paulson & Co.’s Real Estate Recovery Fund paid $17 million for land.

Paulson’s bet on a turnaround in Las Vegas comes as the region’s inventory shrinks and home prices rise. What’s more, vacant lots are at a premium in the area, with few for sale.

Lake Las Vegas is built around an artificial lake and features two hotels, a golf course and, of course, a casino.  There are already 1,800 homes on the 3,600-acre site.

Lake Las Vegas’ master developer filed for bankruptcy in 2008.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events