Fontainebleau Vegas Owner to Buy Nearby Land for $112.5 Million

Jeffrey Soffer, developer of the Fontainebleau resort on the Las Vegas Strip, plans to acquire five acres nearby for $112.5 million.

The Las Vegas Convention & Visitors Authority is scheduled to consider the sale on June 11, according to an agenda item for the upcoming meeting. The land is just south of Soffer’s new Fontainebleau resort, which opened last year.

Jeffrey Soffer

Photographer: Kyle Grillot/Bloomberg

“Almost six months into operations, we are already seeing positive and encouraging results for Fontainebleau Las Vegas,” Soffer said Thursday in a statement. “This acquisition, which is strategically located for future growth, underscores our confidence in the Las ...