Shopoff Realty Investments Adds Construction Industry Veteran, Bill Smith to Real Estate Development Team

IRVINE, Calif., July 21, 2020 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that the company has added William (Bill) R. Smith as senior vice president of design and construction.  Smith's primary objective will be to lead the design and construction of the company's new Dream Hotel project in Las Vegas, Nevada, a joint development project with Contour Realty, Inc.

"Bill Smith comes to Shopoff with more than 30 years of experience designing and constructing high profile, luxury projects across the world," explained Shopoff Realty Investments President and CEO William Shopoff. "Bill has been involved with, or led, the construction of more than $18 billion in assets over his career, and his expertise in this arena will further strengthen our already stellar team of development professionals as we move forward with high profile projects of our own in the coming years."

In this new role, Smith will primarily be responsible for the design, construction and delivery of Shopoff's Dream Hotel project, a luxury 450-room hotel and casino, located on the Las Vegas Strip. Smith will manage the design, schedule and construction budget throughout the pre-construction and construction phase. Additionally, he will provide the strategic leadership, direction, management, and vision necessary during development to ensure the success and delivery of this project.

Brian Rupp, executive vice president of development at Shopoff Realty Investments, added, "We are thrilled to have a professional like Bill join our team and elevate our capabilities when it comes to design and construction. His experience alone in the Las Vegas market, having headed the development on the CityCenter project, will be invaluable to us as we develop the Dream Hotel on the Las Vegas strip."

Prior to his new role with Shopoff, Smith served as senior vice president of global construction at Las Vegas Sands where he was responsible for managing construction projects globally valued at approximately $6 billion. Smith also served with AECOM Capital as their executive vice president of design and construction, managing projects nationally with a total development value of $4 billion. Smith most notably served as president and chief operating officer of MGM MIRAGE Design Group where he was responsible for the design and construction of the $9 billion CityCenter project in Las Vegas, NV.

Smith's portfolio of most notable completed projects includes:

• CityCenter – Las Vegas, NV: A $9 billion, 18-million-square-foot mixed-use project which includes a 4,000-room ARIA Resort & Casino, a luxury 400-room hotel, retail space, a convention center and residential units. CityCenter is the largest privately financed project in U.S. history. Developed in 60 months, it is the largest LEED Gold-Certified project in the U.S.
• Liberty Place – Philadelphia, PA: A $1.4 billion (in today's dollars), urban mixed-use downtown development project that includes two 60-story office buildings totaling 2.4 million square feet of Class A office space, a 300-room Ritz Carlton Hotel , and a two-level retail facility.
• Beau Rivage – Biloxi, MS: A $1.2 billion (in today's dollars), 1,774-room hotel and casino resort project with seven restaurants and a 1,400-seat showroom.
• The Spa Tower – Las Vegas, NV: A $475 million, 928-room hotel tower, spa and convention area expansion to the existing Bellagio Hotel & Resort.

Bill Smith, senior vice president of design and construction at Shopoff Realty Investments, added, "The Dream Hotel will be a remarkable new boutique hotel experience on the Las Vegas Strip. It aims to bring the next generation of exceptional food, pool and nightlife experiences to the Las Vegas market."

Smith earned a bachelor's degree in architecture from Temple University. He is a Registered Architect and member of the American Institute of Architects.

About Shopoff Realty Investments

Shopoff Realty Investments is an Irvine, California-based real estate firm with a 28-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 28-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

Disclosures

This is not an offering to buy or sell any securities. Such offer may only be made through the offering's memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 770, Irvine, CA  92614, (844) 4-SHOPOFF.

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SOURCE Shopoff Realty Investments