Blackstone sells Las Vegas Resort

Blackstone Real Estate Partners VII (BREP) has sold The Cosmopolitan of Las Vegas for $5.65 billion to a consortium that includes the Blackstone Real Estate Income Trust.

MGM Resorts International intends to sign a long-term net lease with a partnership between Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust, which will acquire The Cosmopolitan’s real estate assets.

BREP considered a broad range of potential options for The Cosmopolitan and determined that separating the asset's operations from the underlying real estate would result in an optimal outcome, officials said . . .

Continue Reading

Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Monthly and annual subs available.

Get started

Back to top button

Start Your Days in the Know


Get fresh alts intel in your inbox with our FREE newsletter!

You have Successfully Subscribed!