Omninet Capital announced Friday that it has acquired the Sahara Rainbow Center, a retail center in Las Vegas. Terms of the deal were not released. Omninet is focused on investments in real estate, middle-market private equity and late stage venture capital.
Omninet Capital, LLC is pleased to announce its recent acquisition of Sahara Rainbow Center in Las Vegas, Nevada. Sahara is a multi-tenant retail center located in West Las Vegas and shadow anchored by the largest Harley Davidson dealership in the western US.
Omninet believes the acquisition will be a positive addition to its existing Las Vegas retail portfolio. “Although Vegas has experienced a higher vacancy rate as a result of the current economic situation, we are optimistic about the future economy in Las Vegas. In particular, the Sahara property has an excellent high-traffic location on Sahara and Rainbow, which has allowed it to maintain a strong, stable tenant base,” said Michael Daniel, Omninet’s Director.
Neil Kadisha , Managing Partner, added, “Sahara was acquired from a court-appointed receiver as an all cash purchase. As a well-capitalized private investment firm, we have the capacity and flexibility to execute deals quickly without the need for a protracted loan process.”
Omninet’s real estate strategy is focused on pursuing direct investments in income generating properties throughout California, Nevada, Arizona and Texas. Omninet seeks to acquire undervalued properties with the intention of repositioning them to significantly increase the property’s occupancy and value. For more information on Omninet’s investment criteria or this transaction, please visit http://www.omninet.com/ real_estate or contact Michael Daniel at Michael(at)Omninet( dot)com or Benjamin Nazarian at Ben(at)Omninet( dot)com or by phone at 310.300.4100.
About Omninet Capital, LLC
Omninet Capital, LLC is a diversified investment firm concentrating in the fields of real estate, middle-market private equity and late stage venture capital. Omninet’s principals were instrumental in the creation of Qualcomm, a leader in wireless communications, providing the foundation for the firm’s proactive investment management style. Neil 780755208 Kadisha currently serves as Managing Partner of Omninet Capital, LLC .