mgm grand las vegas
VICI Properties to Acquire Remaining 49.9% Interest in MGM Grand Las Vegas and Mandalay Bay Joint Venture From Blackstone
Blackstone Real Estate Income Trust, Inc. (BREIT) | December 1, 2022
NEW YORK--Blackstone Real Estate Income Trust, Inc. (“BREIT”) and VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or “VICI”) announced jointly today that they have entered into a definitive agreement in which VICI, currently owner of a 50.1% interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort, will acquire BREIT’s 49.9% interest in the joint venture for cash consideration of approximately $1.27 billion and VICI’s assumption of BREIT’s pro-rata share of the existing property-level debt. The property-level debt has a principal balance of $3.0 billion, matures in 2032, and bears interest at ...
MGM Resorts, MGM Growth Properties and Blackstone REIT Complete Acquisition of MGM Grand Las Vegas and Mandalay Bay Real Estate for $4.6 Billion
MGM Resorts International | February 14, 2020
MGM Resorts Executes Long-Term Lease with Joint Venture for Both Properties LAS VEGAS and NEW YORK, Feb. 14, 2020 -- MGM Resorts International ("MGM Resorts") (NYSE: MGM), MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust ("BREIT") today announced the closing of the previously announced transaction for a joint venture formed between MGP and BREIT to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT has purchased approximately 4.9 million MGP Class A shares at a price of $30.67 per share. In connection with the completion of the transacti...
