El-Ad Properties $1.2B New Frontier Sale Closes

A partnership of El-Ad Properties and Property & Building Ltd. has completed its $1.24-billion acquisition of 34.5 acres fronting the Las Vegas Strip, according to Globes, an Israel business news publication. Located across from Wynn Las Vegas, the site of the now shuttered new Frontier Hotel Casino is slated for a multibillion redevelopment. The transaction was not reflected in Clark County, NV online property records on Monday.El-Ad Properties is a private real estate developer owned by Yitzhak Tshuva. El-Ad owns among other things the Plaza Hotel in New York City.