Companies > Property

Blackstone buys MGM properties on Las Vegas Strip in $4.6B deal

9 days ago   |   By Review Journal

The Blackstone Group has partnered on a deal with MGM Resorts International's real estate trust to acquire two more Las Vegas Strip properties.
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MGM Grand Las Vegas Sold for $2.5 Billion

MGM Grand Las Vegas Sold for $2.5 Billion

9 days ago   |   By Hotel News Resource

MGM Resorts International today announced that it has entered into a definitive agreement pursuant to which a newly formed joint venture between MGM Growth Properties LLC and Blackstone Real Estate Income Trust will acquire the MGM Grand Las Vegas real estate assets in a transaction valued at approximately $2.5 billion, which represents a multiple of 15.75x rent.
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MGM Resorts selling MGM Grand, Mandalay Bay for about $2.5B

9 days ago   |   By Chron

LAS VEGAS - MGM Resorts International is selling the MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint venture for about $2.5 billion.
The joint venture includes private-equity and real estate company Blackstone Group and MGM Growth Properties LLC. The joint venture will be owned 50.1% by MGM Growth Properties and 49.9% by Blackstone. It will also acquire the real estate assets of Mandalay Bay from MGM Growth Properties and lease both properties to MGM Resorts for an initial rent of $292 million.
The Mandalay Bay was the site of a 2017 shooting that left 58...
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MGM Resorts selling 2 properties on Las Vegas Strip

9 days ago   |   By Review Journal

MGM Growth Properties and Blackstone Real Estate Income Trust are forming a join venture to acquire the real estate assets of the MGM Grand and Mandalay Bay.
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Alert: MGM Resorts to sell MGM Grand and Mandalay Bay on the Las Vegas Strip for $2.5 billion

9 days ago   |   By Chron

LAS VEGAS - MGM Resorts to sell MGM Grand and Mandalay Bay on the Las Vegas Strip for $2.5 billion.
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MGM Resorts selling MGM Grand, Mandalay Bay for about $2.5B

9 days ago   |   By Chron

LAS VEGAS - MGM Resorts International is selling the MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint venture for about $2.5 billion.
The joint venture includes private-equity and real estate company Blackstone Group and MGM Growth Properties LLC. The joint venture will be owned 50.1% by MGM Growth Properties and 49.9% by Blackstone. It will also acquire the real estate assets of Mandalay Bay from MGM Growth Properties and lease both properties to MGM Resorts for an initial rent of $292 million.
MGM Resorts anticipates cash proceeds of approximately $2.4...
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