Blackstone Completes Acquisition of Bellagio Real Estate From MGM Resorts International for $4.25 Billion in Sale-Leaseback Transaction
Blackstone Real Estate | November 18, 2019
November 18, 2019 – New York and Las Vegas – Blackstone Real Estate Income Trust (“BREIT”) and MGM Resorts International (“MGM Resorts”) (NYSE: MGM) today announced the closing of the previously announced 95%/5% BREIT-led joint venture with MGM Resorts to acquire the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction. As part of the transaction, MGM Resorts has leased the property from the joint venture and continues to manage, operate and be responsible for all aspects of the property on a day-to-day basis. The transaction was announced on October 15, 2019. Advisors Weil, Gotshal & ...
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