Huffman Projects Acquired for $50M
Author: Diana Heeb Bivona
The assets of Huffman Builders West was recently acquired by Venture Corp., which specializes in building commercial condos and other small for-sale commercial properties. The transaction totaled approximately $50.4 million in equity and debt assumption.
Venture, hoping to expand its presence in Las Vegas, picked up four Huffman developments totaling about 520,000 square feet. The projects range from 50,000 to 200,000 square feet, and are divided into for-sale units of 2,000 to 5,000 square feet. When construction is complete, the projects will be worth an estimated $187 million.