![]() ![]() ![]() Together, the two Las Vegas properties comprise 9,743 guestrooms, approximately 3 million square feet of meeting space and approximately 300,000 square feet of casino space across 226 acres on the Las Vegas Strip.Īt closing, MGM Resorts International will enter into a long-term triple net master lease for both properties and provide a full corporate guarantee of rent payments. MGP currently owns the Mandalay Bay real estate and MGM Resorts International owns the MGM Grand real estate. BREIT, which is externally managed by a subsidiary of The Blackstone Group, also will purchase $150 million in MGP Class A shares. MGP will own 50.1 percent of the JV and BREIT 49.9 percent. ![]() MGM Growth Properties and Blackstone Real Estate Income Trust entered into a definitive agreement to form a joint venture to acquire the MGM Grand and Mandalay Bay in Las Vegas for $4.6 billion. ![]()
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