Fontainebleau Las Vegas Secures $2.2 Billion in Financing to Complete Construction
A partnership between Fontainebleau Development, a builder, owner, and operator of luxury hospitality, commercial, and retail properties, and Koch Real Estate Investments (KREI), the real estate investment arm of Koch Industries, has secured – with J.P. Morgan as administrative agent – a $2.2 billion construction loan to complete Fontainebleau Las Vegas, the highly anticipated 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip.
- A partnership between Fontainebleau Development, a builder, owner, and operator of luxury hospitality, commercial, and retail properties, and Koch Real Estate Investments (KREI), the real estate investment arm of Koch Industries, has secured – with J.P. Morgan as administrative agent – a $2.2 billion construction loan to complete Fontainebleau Las Vegas, the highly anticipated 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip.
- The financing, a monumental achievement for both companies following their joint acquisition of the property in 2021, keeps construction on schedule and paves the way for Fontainebleau Las Vegas to make its global debut in the fourth quarter of 2023.
- “This is a milestone for Fontainebleau Las Vegas and stands as a testament to the tremendous dedication of our team and our partners at Koch Real Estate Investments,” says Fontainebleau Development President Brett Mufson.
- Upon completion, Bowtie Hospitality LLC, a subsidiary of Fontainebleau Development, will be the sole operator of Fontainebleau Las Vegas.