Veer Towers, The Martin, Panorama Etc.

[Scott Miller]

Hi All,

I am curious to hear everyones thoughts on Veer Towers at City Center as well as Panorama and The Martin.

Here are my initial thoughts

1. Las Vegas is a world class destination- there are only so many apartments on the strip. AKA: LOCATION,LOCATION,LOCATION

2. With the Raiders coming to town, I think that these rentals will be very attractive to wealthy Raiders fans living in California and who want to fly into Vegas for all home games

3. After doing due diligence, these are not cash flowing trophies. HOWEVER, there is a finite amount of condominium product on the strip- which could in return provide upside in appreciation.

Please feel free to let me know your thoughts on the above. I look forward to hearing your thoughts.