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LAS VEGAS-Forest City Enterprises has acquired a 60% interest in a 12.7-acre, five-block area of Downtown Las Vegas valued at $136 million. Forest City says it and Livework intend to work with city officials to develop a major regional transportation terminal, city office buildings and other commercial buildings on the property.

The Cleveland-based company paid $81.6 million for an interest in nearly 50 parcels of land in the vicinity of South Casino Center Boulevard and East Bonneville Avenue, according to Clark County property records. The seller, Livework LLC, retained the remaining 40% interest in the property.

The property is located a short ways east of West Bonneville Avenue and Grand Central Parkway, an intersection where Clark County Government Center, Las Vegas Premium Outlets, World Market Center and the 61-acre Union Park redevelopment all come together.

An executive with Forest City could not be reached Monday afternoon for additional detail. KeyBank National Association was the lead lender on the transaction.

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