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Discovery Charter School Hillpointe Campus
8961 Hillpointe Road, Las Vegas, Nevada 89134, United States
16,459
Square Feet
PROJECT SUMMARY
In 2020, Hiltz Commercial Group was retained by Discovery Charter School to help find a new facility in the Summerlin area. At the time, Discovery was operating out of the 8961 Hillpointe Rd property, a campus they had leased for years but which suffered from significant deferred maintenance and lacked the curb appeal expected in the surrounding neighborhood. The school had also undergone leadership changes and was navigating financial hardship.
Hiltz Commercial Group began exploring relocation options, but after touring the campus and analyzing its location, the team recognized the extraordinary long-term value of the existing site—situated in the heart of Summerlin, next to TPC Summerlin Golf Course, and just down the road from The Meadows School, one of the top private schools in Las Vegas.
OPPORTUNITY
Though the landlord was not actively marketing the property for sale, Hiltz Commercial Group initiated discussions and successfully positioned Discovery as a credible buyer. To overcome Discovery’s limited capital, Hiltz brought in several charter school developers and ultimately facilitated a partnership with Red Hook Capital.
Red Hook acquired the campus on Discovery’s behalf, structuring a lease with a purchase option to allow the school time to rebuild enrollment and improve financial performance. Hiltz negotiated the purchase terms and closed the deal just two days before the seller’s hard year-end deadline in December 2020.
RESULTS
- 25,026 SF facility across three buildings (vs. 13,000 SF at Aguilas CFC
- 16,459 SF charter school campus on 3.14 acres acquired for $6,228,500
- Lease-with-purchase-option structure allowing operational rebuilding time
- Successful enrollment recovery and financial stabilization achieved
- School exercised purchase option in 2022 using tax-exempt bond financing
CONCLUSION
These improvements significantly enhanced the property’s appearance and functionality, aligning it with the high standards of the surrounding Summerlin community. The revitalized campus helped Discovery boost enrollment and stabilize its finances. In 2022, the school exercised its purchase option and acquired the campus from Red Hook using tax-exempt bond financing. This marked a major milestone in securing Discovery’s long-term presence in Las Vegas and positioned the school for continued growth.
