Lily Funds Completes Las Vegas Strip Land Sale

LAS VEGAS, Oct. 8, 2026 /CourierPR/ -- Lily Funds, LLC, a private investment company and family office founded by Thomas "Tom" McManus, has concluded its final sale in a nearly 30-acre assemblage of land in the southern gateway to the Las Vegas Strip. The assemblage, located near the iconic "Welcome to Fabulous Las Vegas" sign and across from Mandalay Bay, is positioned as a valuable real estate asset in one of the world's most recognizable destinations.

The final parcel, which was sold in July 2026, is intended for a planned Top Gun-themed entertainment destination. This sale marks the completion of a series of transactions that have positioned Lily Funds at the southern gateway to the Strip. The firm and its affiliated companies have previously acquired land for various projects, including a hotel site, a parcel for the Clark County Department of Aviation, and a parcel for a proposed NBA arena.

The final sale of the assemblage's land, which closed in July, represents a significant milestone in Lily Funds' strategy to capitalize on the Las Vegas Strip's real estate market. The firm's investment strategy in the South Strip has included a range of uses, from hospitality and entertainment to transportation infrastructure and potential professional sports development. These transactions demonstrate the firm's ability to identify and execute on opportunities within the region.

Lily Funds' founder and CEO, Thomas "Tom" McManus, has a long history of investment in Nevada real estate. His experience extends beyond the Las Vegas resort corridor to master-planned residential development, agricultural land, and water rights. His development background includes the acquisition of approximately 5,000 acres of agricultural land near Gerlach and the perfection of 18,300 acre-feet of water rights.

McManus's experience in Nevada has been characterized by a focus on recognizing value in land and scarce resources. His approach to investment involves identifying opportunities early, doing the necessary work to unlock them, and maintaining discipline throughout the investment process.

Lily Funds, based in Fort Lauderdale, Florida, is a private investment company and family office that invests in real estate, public equities, and private placements across the United States and the Caribbean. The firm's public-market strategy emphasizes growth at a reasonable price, with a focus on companies participating in advances in space, defense, artificial intelligence, robotics, and other emerging technologies. Real estate investments are held through affiliated entities.

The completion of the final sale in the assemblage represents a significant achievement for Lily Funds, further cementing its position as a key player in the Las Vegas real estate market. The firm's investment strategy and track record demonstrate its ability to identify and capitalize on opportunities within the region, contributing to the continued growth and development of one of the world's most recognizable destinations.