A company led by Golden Knights owner Bill Foley confirmed the sale of its Summerlin headquarters and disclosed how much it’s paying to rent space in the building.
Las Vegas-based Cannae Holdings said in a regulatory filing Wednesday that it sold its corporate headquarters, off Town Center Drive and Summerlin Parkway, to its former parent company Fidelity National Financial for $12.2 million in March.
Cannae also said it entered a lease agreement with the new owner for a portion of the building, at a rate of around $10,000 per month.
The lease calls for an initial six-month term with automatic six-month renewals “on the same terms and conditions unless terminated by written notice from either party,” Cannae said in the filing with the Securities and Exchange Commission.
The Las Vegas Review-Journal reported the sale of the building last month.
A separate subsidiary of Fidelity National previously owned the building and sold it years ago to Cannae, which leased space there to Fidelity National for more than $300,000 a year before it sold the building outright to the company, according to property records and securities filings.
Fidelity National said in a filing this week that it paid around $368,800 to Cannae last year to lease space in the building, 1701 Village Center Circle, and that it recently purchased the property.
All told, the back-and-forth deals involving the suburban office building underscore Foley’s extensive and at times overlapping business interests.
The 80-year-old billionaire is the longtime chairman of Florida-based Fidelity National, a real estate transaction-services giant, and he is the chairman, CEO and chief investment officer of Cannae, a holding company that buys stakes in operating businesses.
Cannae was split off from Fidelity National several years ago, and its portfolio includes a sizable stake in a Foley-led group that owns professional soccer teams overseas.
Fidelity National, meanwhile, has paid hefty sums to Foley’s other ventures, including more than $1.3 million one year to the Golden Knights, primarily for tickets, according to a securities filing.
Fidelity National issues title-insurance policies and handles escrow accounts, recordings and other components of real estate transactions.
It also has close ties to Las Vegas.
Its Western regional headquarters are in Las Vegas, most of its board meetings have been held here and three of its board members, including the chairman, live in Las Vegas, the company has said.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.
