Apple Hospitality REIT, Inc. (NYSE: APLE) yesterday announced the acquisition of the 299-room SpringHill Suites by Marriott Las Vegas Convention Center for approximately $75 million, or $251,000 per key.
VICI Properties Inc. (NYSE: VICI) announced today that the Company has closed on the previously announced acquisition of the remaining 49.9% interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort from Blackstone Real Estate Income Trust, Inc. for cash consideration of approximately $1.27 billion and VICI’s assumption of BREIT’s pro-rata share of existing property-level debt.
Initial total annual rent under the lease with Hard Rock is $90.0 million and the lease has an initial term of 25 years, with three 10-year tenant renewal options.
Hard Rock International (HRI) on Friday received regulatory approval from the Nevada Gaming Commission for its acquisition of The Mirage Hotel & Casino from MGM Resorts International.
Blackstone Real Estate Income Trust, Inc. and VICI Properties Inc. (NYSE: 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 Siegel Group, a real estate investment and management company, announced today that it had acquired three parcels totaling approximately 10 acres on Las Vegas Boulevard. The purchase price was $75 million and the seller was an out of state lender who had taken back the properties from the previous owner.
The Siegel Group Nevada, Inc announced today that it had completed the sale of the Artisan Hotel Boutique; a 64-room boutique hotel located in Las Vegas, Nevada. The sale price was $11.90 million.
Las Vegas Sands Corp. (NYSE: LVS) today announced it has completed the approximately $6.25 billion sale of The Venetian Resort (The Venetian, Palazzo and Venetian Expo) to affiliates of Apollo Global Management, Inc. and VICI Properties Inc.
Hard Rock Internationa today announced its agreement to acquire the operations of The Mirage Hotel and Casino in Las Vegas from MGM Resorts International, subject to regulatory approvals and other customary closing conditions. Through the acquisition, Hard Rock plans to build an iconic Guitar-shaped Hotel which will be located on the famous Las Vegas Strip.
Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VII L.P. has reached an agreement to sell The Cosmopolitan of Las Vegas for $5.65 billion.